[ Technology Development Rewarded ]

The Hyundai Group held an award ceremony on April 22 at the Group’s S
eoul head office for staff members who have excelled in technological
development. Among the approximately 1,000 participants were Group Cha
irman Chung Mong-koo, and presidents and management from Hyundai subsi
diaries. A total of 46 individuals and teams, including vice presedent
of HMM Ulsan office Jeong Sung-soo, received prizes.
Chairman Chung gave a speech in which expressed his “heartfelt gratit
ude” to those selected for their achievements and wished them good lu
ck and peace. He also said that since the rapid development of a world
wide communication system and the foundation of the World Trade Organi
zation, there are no barriers to world marketing. “Therefore, competi
tiveness among companies has intensified. While our market is growing,
customers’ requirements and demands are becoming more diversified an
d complex. So we plan to increase support and investment for the devel
opment of new technologies.”