1. Beyond Boundariesfor Sustainable GrowthHyundai Capital, Hyundai Card & Hyundai CommercialAnnual Report 2010

2. Beyond Boundaries for Sustainable Growth Beyond Boundaries. . 2011 , , , .ContentsBeyond Boundaries04 Financial Highlights & Statements10 CEOs Message18 Highlights26 2010 At a GlanceOverview30 Hyundai Capital Products34 Hyundai Card Products38 Hyundai Commercial Products42 Hyundai Capital Milestones44 Hyundai Card Milestones46 Hyundai Commercial Milestones48 Global Presence50 Directors & Executives52 Independent Auditors Report 3. 4 5Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Financial Highlights6,67110& StatementsHyundai Capital2010 5,410 09(: )2010 (18th) 2009 (17th) 17,931,199,193,58115,854,425,786,303 1,064,798,728,277 773,757,386,774 70,707,832,12956,636,971,638 5,054 08 7,548,313,688,864 6,826,569,128,095 3,231,825,276,776 2,610,205,216,611 3,065,500,389,893 2,656,538,470,019 - - 1,983,985,013,488 1,319,673,268,900 232,361,372,695 226,934,783,247 4,755 733,706,891,459 1,384,110,561,019 07 15,727,685,523,31213,698,695,872,272 14,104,329,570,02912,402,217,193,145 1,623,355,953,283 1,296,478,679,127 2,203,513,670,269 2,155,729,914,031 496,537,175,000 496,537,175,000 407,539,066,885 407,539,066,885 - - -28,817,999,31027,785,730,202 1,328,255,427,694 1,223,867,941,944 3,829 06(: )2010 (18th) 2009 (17th) 2,989,835,468,589 2,989,268,714,849(: ) 2,322,775,321,683 2,448,256,348,534 2010 200920082007 2006667,060,146,906 541,012,366,31529,898 29,89343,29822,45222,093 35,518,007,19921,785,888,002 6,6715,410 5,054 4,755 3,829 23,199,082,50624,598,392,9905,1154,112 3,770 3,333 4,172 679,379,071,599 538,199,861,327 179,312 158,544160,677 137,709 120,685167,833,709,099 126,969,111,56322,035 21,55716,50314,13911,780 511,545,362,500 411,230,749,764 4. 67Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Financial Highlights& StatementsHyundai Card3,8922010 10 3,002 062,86309 (: ) 2010 (16th) 2009 (15th)2,578 9,915,767,763,529 7,291,248,896,21308 742,671,859,144 479,559,001,2032,143,234,32182,903,991,921 985,000,00008,473,299,493,899 6,248,751,386,072 152,515,808,132135,419,049,825 544,152,368,033344,615,467,192727 8,263,679,013,107 5,808,000,005,056076,683,842,693,214 4,524,145,734,8571,579,836,319,893 1,283,854,270,1991,652,088,750,422 1,483,248,891,157802,326,430,000 802,326,430,00057,704,443,95557,704,434,955 0-20,000-748,973,29546,885,771,773792,806,849,762576,332,274,429 (: ) 2010 (16th) 2009 (15th)2,275,741,542,173 1,840,843,429,250(: )1,886,555,975,385 1,554,553,048,334 2010 2009 200820072006 389,185,566,788 286,290,380,916 22,75718,408 15,943 11,213 11,09521,086,584,45024,088,003,887* 3,892 2,8632,5787273,00221,188,110,52515,847,423,804 3,529 2,1282,022 2,344 2,810389,084,040,713 294,530,960,999 99,15872,912 56,710 46,452 33,83436,213,973,58081,711,914,188 16,52114,832 12,341 11,2308,307352,870,067,133 212,819,046,811 * 2006: 1,905 / 2007: 1,417 / 2010: 1,011 5. 89Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Financial Highlights& StatementsHyundai Commercial2010 67110 (: ) 2010 (4th) 2009 (3rd) 2,534,174,650,314 1,628,843,965,989 99,731,978,01026,822,146,159 144,215,194,980 124,097,415,654 1,609,845,001,368871,906,482,585 427,846,646,182 495,955,424,440 39,794,452,96645,825,617,272 -- 126,362,420,661 -276091,888,329,577 1,752,634,894 84,490,626,57062,484,244,985 2,359,395,221,672 1,519,996,760,101 2,279,111,479,869 1,486,999,361,252 80,283,741,80332,997,398,849 174,779,428,642 108,847,205,888 100,000,000,000 100,000,000,000 141 -- 08 --663,810,140 -759,373,309-1,858,093,400 75,538,801,95111,369,109,428 95 07 (: ) 2010 (4th) 2009 (3rd) 236,297,921,664 163,017,654,350(: ) 169,191,274,780 135,399,800,5562010 2009 2008 200767,106,646,88427,617,853,7942,3631,6301,356 57817,740,039,056 4,336,400,329 67127614195 570,999,135 400,237,59664828013679 84,275,686,80531,554,016,527 25,342 16,288 11,266 8,60619,442,184,142 3,543,057,0531,7481,088 738702 64,833,502,66328,010,959,474 6. 10 11Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010CEOs MessageBeyond 2010, Stable Profit Trend 2010 2009 Boundaries Hyundai Capital , . 10 (: %) , . . . +23.3% (: ) ,. 2010 , 6,671 , 10 6,7943,892 , 671 . 2009 095,382 Crossover .084,751 2010 . , . . Hyundai Card , 10 (: %) +35.9% 1 . 2010 2 , . 1 2009 . (: ) 2010 . 10 3,891 2011 (ROA) 092,945 082,715 .23.3%, 24.4% . , , 2010 1,011 , 80% . Hyundai Commercial 8.7% . 10 (: %) +243.1% 74 1 . 9,999 0.05% the Black . (: ) 10843 . 2009 2/4 09 316 2, 2009 08 1402 2010 980 . Platinum3 2010 11 4 24,000 250 . Auto Finance 243.1% , 231.4% . 7. 1213Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010CEOs Message Auto Finance 85% , Sound Asset Portfolio Excellent Asset Quality 20% , PF 10% 2009 CS CS . Hyundai Capital Hyundai CapitalCustomer Satisfaction Customer Solution .10 (: )10 30 (: %)2010 , Customer Solution CS , . .187,205 CS .1.6% CS , 30 (: %)1081.4% 18.6%187,205 . 10 1.6 09 81.1% 18.9% 164,797 2010 09 1.8 , 0879.5%20.5%160,295 . 08 2.30782.3%17.7% 151,300 07 1.6 .06 87.1%12.9%134,723 06 1.7 . CS , , PRIDE , , 5 . . . 2010 3 Hyundai CardHyundai Card10 (: ) . 10 30 (: %) . 70% 91,8612009 Customer Solution 2010 , 2011 CS . 0.4% . , . 30 (: %) , 1091,861 65.7% 34.3% . 10 0.4 . 0974.2%25.8% 71,36109 0.308 72.9% 27.1%56,161 2010 Platinum 08 0.7 7 0774.1% 25.8%45,067 . 07 0.4 , (Open Communication)06 77.6%22.4%35,07906 2.2, CS (CS Pre-Screening) . . MY BUSINESS 360 Customer Solution . , Hyundai CommercialHyundai Commercial10 (: ) 10 30 (: %) (HCA) (Finance Shop) 23 , 2011 21 . . 23,332 . 4 , , 1.0% (The Box) (Auditorium) . 30 (: %) . 10 85.4% 14.6%23,332 10 1.0, , CS 0986.5%13.5% 14,38309 0.9 . CS 201108 77.8% 22.2% 10,49708 2.1 , 89.1% 10.9%8,218 . 0707 1.9 . 8. 1415Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010CEOs Message Conservative Provisioning Policy Well-Diversified Funding Portfolio Hyundai CapitalHyundai Capital . 10 / (: %) 10 . 118.1%. 5 .ABS16.5% . VVIP Loans7.4% the Black, vs. (: ) 2007 CP8.5% MY BUSINESS, 10 4,0124,783118.1% Bonds67.5%09 2,882 4,417 153.2% Platinum3 , . 08 2,817 4,271 151.6% 07 2,462 3,976 161.5% .06 3,0634,606150.4% . ABS 20%, CP 10% : 63.5% GE 2009 : 36.4% .(Santander Consumer Finance) Hyundai Card . , Hyundai Card10 / (: %) , 127.7% 10 , , 2010 ABS 7.2%, , . Loans10.1% . vs. (: ) GE (Joint Venture) CP9.1% .2004 10 1,477 1,886 127.7 %09 1,1431,415123.9% (CI) Bonds08 941 1,348 143.3%73.6% , . . 07 519 1,040 200.4%06 886 1,578 178.1% , , , ABS 20% , CP 10% . : 56.5% . : 6.4%Hyundai Commercial 10 / (: %) , Hyundai Commercial168.0% .10 ABS 8.1% vs. (: ) Loans18.2%10 155 261 168.0%09 97216 222.8% Bonds08 95170 179.7% CP60.6% 13.0%07 53152 286.0% ABS 20% , CP 10% : 60% 9. 16 17Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010CEOs Message 2011, 2011 . . . 3 , 50% . . . . , () 3 .IDEA , iF , reddot , . . . , (MoMA) , , 3 . 3 9 . . . 2011 CSR(Corporate Social . Responsibility) . . Platinum3 (Talent Donation), (Volunteerism), (Self-Support) (Premium) (Practical) , , CSR . CSR . 3 . (Rule Creator) . . . , , . . . 10. 18 19Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Highlights Customer01 Solution Customer Solution . . CS . . MY BUSINESS, Platinum3 . . Customer Solution . Platinum3 Series MY BUSINESS 11. 20 21Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010 CultureHighlights02 Marketing . . 2010 . , , . . Super Concert Super Match 12. 2223Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Highlights03 Global Growth . , GE . (Hyundai Capital America) . , .2010 Global Site Visit Hyundai Capital America 13. 2425Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Highlights04 Citizenship . . 3 . . 2011 CSR .(MoMA) 1 14. 2627Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 20102010 At a GlanceJanuaryMarchMay July September November(Fitch), 1,250 2010 Invitational 2010 6 (KMAC) 300 . 3 CS . 10 5 (Fitch) 1,250 1 BBB() BBB() MY BUSINESS (Fitch) BBB+() Invitational 2010 (Fitch) . BBC MY BUSINESS October BBB() BBB+() BBC Proms . 10% BBC JCR , RAM Outlook 1 Platinum3 JCR 07 , ARS A-() A() .7 Platinum3 (M3, H3, R3, T3) . , 1(Green Day) RAM AA1() ARS AA1() MY BUSINESS T Direct Loan February April Green Loan . Direct Loan MY BUSINESS 09 (MY COMPANY) (Santander Consumer , DecemberFinance) (Andrea Bocelli) , 9 MY COMPANY , 10 01 Innovation in Art (MY BUSINESS Zone) 10 15 08 , , JuneR&B , (Usher) Innovation in Art , MY BUSINESS Zone (Whitney Huston) , , 10 3 , , , , , 10 , , A+() AA-() 10 12 Medalist on IceAugust 12 (Itzhak Perlman) . 11 (Evan Lysacek), 11 11 , (Evgeni Plushenko), vs. (Stevie Wonder) (Asada Mao) (Novak(The Museum ofDjokovic) (Andy Roddick) .Modern Art) 3 3 IDEA , iF ,reddot 15. 2829Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Overview , . 2010 . Overview . . Hyundai Capital, Hyundai Card & Hyundai Commercial Overview 30 Hyundai Capital Products 34 Hyundai Card Products 38 Hyundai Commercial Products 42 Hyundai Capital Milestones 44 Hyundai Card Milestones 46 Hyundai Commercial Milestones 48 Global Presence 50 Directors & Executives 52 Independent Auditors Report 16. 30 31Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Products OverviewHyundai CapitalHyundai Capital Products Overview Autoplan Direct Loan Prime Mortgage 1 85% Autoplan Prime Loan Prime Mortgage Loan Planner( ) 80% No.1 KlassAuto , KlassAuto KlassAuto , , PLUS+ MembershipInvitational , , Auto Inside , , www.autoinside.co.kr Finance Shop 17. 32 33Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010ProductsHyundai Capital Products Finance Shop Finance Shop Finance Shop Service Autoplan , . , 1 , 5G , . . . 125% , 48 .M KlassAuto , . 1 . . , , LPG . Autoplan Invitational Invitational Stop & Listen , , , 1 . 5 . 5,000km Invitational . . 2010 4 KlassAuto , , 2007 , 2010 12 . , , , , . KlassAuto . , 24 2010 . . . Direct Loan Prime Loan . , , , . . MY BUSINESS MY BUSINESSMY BUSINESS , , , , , , , , , , . , , . . , , , , 2~3 , . . , . Prime Mortgage 85% , . 85% 30 . , . , . , ARS, MY BUSINESS Loan Planner( ) . M, Gift Voucher, (MY BUSINESS Zone) . . Prime MortgageMY BUSINESS Zone , 80% 1:1 . . , , Loan Planner .MY BUSINESS ( ) . . MY BUSINESS , 10 . 18. 3435Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Products OverviewHyundai Card Hyundai Card Products Overview PremiumPlatinumAlphabet the BlackM3 M M , , , 0.05% / VVIP H3 H the Purple M, , M 5% VIPLady , , R3 R the Red V, , , T3 T / H, , , M2 (Multi) O LPG M2 M Lady R 10% A2 T K2 MY BUSINESSDiners/CheckService the Red , M2 , M , O Diners Club Service MY BUSINESS Diners , , Diners Privilege , 600 10~20% C Point PRIVIAC Discount 19. 36 37Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010ProductsHyundai Card ProductsPremium the Black VVIP the Black 2009 7 the Purple 5% PRIVIAPRIVIA PRIVIA the Black , 2011 1 VIP. , , (MoMA) . the Black VIP . , . . , , , M . 1 , , 1 the Red . , , , 500 , (Time for the G20 , < : > .Black), 2011 1, 2010 < : > . . , (Zagat) (Reward) the Red G20 . , , . . . MoMA Platinum M3 Platinum, , R Platinum 10% , 10% 2010 7 (The Museum ofPlatinum3 M 2 , M , Modern Art) 3 120 , , , . . . 2010 9 MoMA ,, , , 10% M MoMA M , , . , , . MoMA 3 . . MoMA .Alphabet M OSuper Series 2010 800 LPG M 800 . . . . 2010 , , , 60, LPG 30 6 Medalist on Ice , , , , 3% . . M 200 . , . R . , 10% 10 . V 2009 . . , , 1 . , , , , , , , , , Gift . , , , 5 . . 2~3 . . 2010 T , H ., , , 10% . . , , , , , . , ., , , 10 .. 20. 38 39Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Products OverviewHyundai Commercial Hyundai Commercial Products Overview Private Equity 1 , / Fixed Income / HMC , HMC Private Equity Fixed income 21. 40 41Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010ProductsHyundai Commercial Products . . , WIA . () . (Asset Backed Loan)HMC . HMC , , , , , , , , 1 , . My Business O . , Global 1 . PF . , . . ABCP (Network Loan) . (SPC) HMC Q , PF , , (ABS),, , , , , , 1 , (MBS) 12 . (CP) . . , , Prime , , , MRI, CT, . . / . WIA , One-stop , (Asset Based , Financing) , , .BBC-HP, .Private Equity Fixed Income , , , , , . . 22. 42 43Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010MilestonesHyundai Capital Milestones1993 - 20022003 - 2005 2006 - 2007 200820092010199312 2003 03 2006 05 01 Plus 01 1 6,500 03 5/5,000km MY BUSINESS 08 (CRMS)470 03 Prime Loan 199504 06 , 04 02 KlassAuto VVIP 08 11 Stop & Listen 1 08 ( ) 05 Invitational 2010199601 ( ) HRD BBC 2007 01 04 04 04 1.55 - FRN 2004 01 CI 06 06 05 06 , 1:1 ARS 199804 06 Invitational 2008 07 Direct Loan 06 07 06 07 1 09 Invitational 2010 09 100 ( ) 12 08 GE 10 ISO 27001 08 KlassAuto, 10 10 - GE 199901 . 08 e MY BUSINESS( ) 09 Invitational 2009 07 Y2K 09 Invitational 2007 11 1 Tour de KoreaKlassAuto 08 , MY BUSINESS 12 , 1,850 12 (KCSI)10 Best Practice11 (Fleet Partner Card) () 1 ( )10 , 125% 11 Prime Loan 200002 2005 01 12 Stop & Listen 12 640 MY BUSINESS 04 5 07 MY BUSINESS Zone 05 12 JCR,MY BUSINESS 200104 09 ( ) 1 5,000 11 07 12 ,08 200201 Just Drive II 07 09 10 (KCSI) 112 23. 44 45Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010MilestonesHyundai Card Milestones2001 - 2004 2005- 2006 2007 2008 20092010200108 , 2005 02 the Black 01 01 - 01 01 01 MY BUSINESS 01 07 - 09 04 M Lady A 04 - ( ) 02 K 02 H < 2010> 10 08 GE 5 02 : HRD 02 the Black 11 09 01 - ( ) 03 03 Time for the Black IV - vs. 04 V Fine & Rare Time for the Black VI - 08 - 200201 [M] , 4 M 12 (NCSI) 100 03 3.0 , 06 (Save Point) 1 TASCHEN & 1 052006 01 M W Travel R ( )200303 M 02 PRIVIA 03 05 the Black,07 the Red 04 the Black, 08 mini M , M Product 05 Time for the Black VII - 1 06 F Fine & Rare M 200401 CI ( ) 02 (Super Save) 07 0404 Time for the Black X -02 06 07 07 Time for the Black I -2008 Superstars on Ice 06 ,08 CEO 1 1 , 09 02 - ( )05 T ( )(Career Market) 12006 Superstars on Ice( ) 08 08 09 -09 S, I 08 M Super Class on Ice 10 Diners 08 M 09 Time for the Black II -M AS 06 10 - 11 M-Q 1 CEO Time for the Black V -Medalist on Ice ( ) 03 - 05 - (Color Core) 07 the Black, the Purple vs. 10 ISO 27001 11 M, KT S 12 S&P BBB 09 06 - 11 02 - & Time for the Black XI -12 (NCSI) ( ) Time for the Black III - 1 Time for the Black VIII - 11 Humble Masterpieces- 10 - 10 Best Practice08 11 - 03 - 06 -( ) 09 vs. 12 5 M 11 10 12 - 12 PR (NCSI) 12 09 ( ) 1 11 - Snow Board City Jump vs. (NCSI) (KNPS) Time for the Black IX - 1 1 01 2008 11 Platinum3 < > (M3, H3, R3, T3) (NCSI) 1(Fitch) BBB+(S) Time for the Black XIII - 12 AA+ 24. 46 47Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010MilestonesHyundai Commercial Milestones2007 20082009 201003 01 01 01 () 03 04 (/) (, ) 04 CM 04 05 WIA 05 07 06 06 09 ()10 PF 10 1 07 M/S 60% 10 08 2 11 HMC A+() 10 12 1.6 11 12 EZ 2 Green loan 12 AA-() ( ) 25. 4849Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Global Presence0102 03 04 0607 15-21 Yeouidodong YeongdeungpoguHyundai Motor Tower Room No.4076th floor, Corporate One, Plot No. 5,Theodor HeussAllee 11, 60486 World Trade Center, ent. 3, office 1901,3161 Michelson Drive, Irvine CA,Seoul, Korea, 150706 No.38 Xiaoyun Road, Chaoyang District, Non-Hierarchical Commercial Centre,Frankfrut am Main, Germany Krasnopresnenskaya nab. 12, 123610, 92612, U.S.A.Beijing, China (100027)Jasolar, New Dehli 100 076, India Moscow, Russia05 Theodor HeussAllee 11, 60486Frankfrut am Main, Germany 04 Hyundai CapitalEurope GmbH02 Hyundai Capital BeijingFrankfrut, Germany Representative Office Beijing, China05 Hyundai Capital01 Hyundai Capital Hyundai Card Germany Hyundai Commercial Frankfrut, Germany Headquarters Seoul , Korea 06 Hyundai Capital 07 Hyundai CapitalMoscow AmericaRepresentative OfficeIrvine, U.S.A.Moscow, Russia 03 Hyundai CapitalNew DehliRepresnetative OfficeNew Dehli, India 26. 50 51Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Directors & ExecutivesHyundai CapitalHyundai CommercialBoard of DirectorsExecutives Board of DirectorsExecutives Niclas Neglen | | IT Bernard van Bunnik | | | | Auto | HR | | | | | | Bernard van Bunnik | | | | Matthew RichardSusser | | Auto2 | Geoffrey Bruce Culbert | Auto | CS| IT | Auto| (HCA) | Auto| | Auto| | Auto| | | | | / | (HCA)Heather Valteris | CVM Board of Directors ActivitiesHyundai Card Risk Control CommitteeExecutive Finance Committee Compliance Review BoardBoard of DirectorsExecutives , | Compliance Bernard van Bunnik | : 1 | : 1 : HMC 4, GE 3: 1 | | : HMC 5, GE 5: HMC 7, GE 7 | | Bernard van Bunnik | | Fee Biz , | | Brand, | | , | Operation | Steven Andrew Sargent | | Design Gregory Leong Hong | Cross-sell | CLM(HMC), GE King Toh Lee | SME 27. 5253Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Independent Auditors ReportHyundai Capital Hyundai Card 2010 12 31 2010 12 31 , , . , , . . 2009 12 31 . 2009 12 31 2010 2 24 , 2010 2 10 .. . . . . . . . . . . 2010 2010 12 31 2010 2010 12 31 . . 2011 3 22011 3 8 28. 54Hyundai Capital,Hyundai Card &Hyundai CommercialAnnual Report 2010Independent Auditors ReportHyundai Commercial 2010 12 31 2009 12 31 , , . . . . . . . 2010 2009 12 31 . 2011 2 24www.hyundaicapital.comwww.hyundaicard.com www.hyundaicommercial.com