Hyundai and Kia Break Ground on New California-Based Design Center

FOUNTAIN VALLEY, Calif., Nov. 12 -- Mong Koo Chung, chairman of Hyundai Motor Co. and Kia Motors Corp., gathered with elected officials in Irvine today to break ground on the new Hyundai/Kia California Design and Technical Center. The $25 million state-of-the-art facility will house 150 auto designers, engineers, model makers and technicians, many who were responsible for design successes such as Hyundai's Santa Fe sport-utility vehicle and its HCD 6 concept vehicle.

Hyundai and Kia selected the City of Irvine for the future home of its design and technical center which is close to neighboring Hyundai and Kia headquarters. Hyundai Motor America is headquartered in neighboring Fountain Valley, Calif. and Kia Motors America is headquartered in Irvine.

``Kia Motors America was, in essence, born and raised in Irvine, so we know that the design center has found a good home,'' said B.M. Ahn, Kia's president and CEO. ``The big benefit of this design center is having a California-based design staff that understands how to take automotive trends and make them appealing to U.S. consumers on a bigger scale.''

The Hyundai and Kia design teams will move from their current home at Hyundai's Fountain Valley headquarters to their new 90,000 square foot design center in the fourth quarter of 2002.

``This new design facility reaffirms Hyundai's commitment toward investing in the U.S. economy as well as its commitment toward the creation of stylish car designs for our U.S. consumers,'' said Finbarr O'Neill, Hyundai Motor America President and Chief Executive Officer. ``Hyundai and Kia continue to exceed expectations when it comes to car design and our newest design center will echo both companies' innovative spirits.''

Also joining the Hyundai and Kia design teams will be the Hyundai America Technical Center, Inc. (HATCI) which is responsible for all engineering activities in the U.S. for both Hyundai and Kia.

``Housing HATCI with the Hyundai and Kia design teams guarantees modern design and expertise in automotive engineering,'' said Dr. Kim, HATCI President. ``This unique type of collaboration will secure Hyundai's and Kia's continued quest for excellence in car design.''

Hyundai Motor America, based in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sports utility vehicles are distributed in the United States by Hyundai Motor America and are sold and serviced through more than 500 dealerships nationwide. For more information, visit www.hyundainews.com .

Kia Motors America is the U.S. sales, marketing and service arm of Kia Motors Corp. in Seoul, Korea. For more information, visit www.kiamedia.com .