WRC

Hyundai reaffirms commitment to World Rally

The Hyundai Motor Company has reaffirmed its commitment to participation in the World Rally Championship this year. "Our 2003 WRC program suffered a setback following the withdrawal of the team's major sponsor. This has forced budget cutbacks...

The Hyundai Motor Company has reaffirmed its commitment to participation in the World Rally Championship this year.

"Our 2003 WRC program suffered a setback following the withdrawal of the team's major sponsor. This has forced budget cutbacks but the most urgent financial issues have now been resolved," said Lee Byung-Ho, director of the Overseas Marketing and Motorsports Group.

"The team is in a consolidation year. We've reduced the number of entries from three cars to two, as have other teams. But there should be no doubt about the depth of our commitment to the WRC," said Mr. Lee.

"Hyundai is a keen competitor and will maintain a competitive presence in the WRC this year and in future years," he added.

The Hyundai Motor Company has participated in the World Rally Championship since 1998 when it began competing with the Hyundai Coupe in the Formula 2, which netted the brand the 1998 Asia Pacific Championship, Hyundai moved up to the World Rally Car category using the Hyundai Accent WRC. In the past three years Hyundai has made steady progress which last year resulted in finishing 4th in the Manufacturers Championship.

As the 8th largest auto maker in the world, the Hyundai Motor Company produces about 3 million cars per year that are distributed in 190 countries around the world. The Hyundai Motor Company was recently a major sponsor for the 2002 FIFA World Cup, held in Korea/Japan, and has also signed an agreement to be an Official Automotive Partner of the 2006 FIFA World Cup Germany.

The World Rally Championship and the World Cup remain the Hyundai Motor Company's primary promotional platforms for the development of the Hyundai brand.

-hyundai-

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