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The Machinery Division supplies a variety of machinery and electrical equipment for use in major industrial sectors, markets a wide range of automobiles and automotive goods made by Hyundai affiliates and Korean small and medium-sized manufacturers, and sells construction equipment.
The overall slump in world markets was further aggravated by the terrorist attacks on the U.S. in 2001. Nevertheless, the Machinery Division made major strides in developing new markets in the Middle East, South Asia, Latin America, and Africa by cooperating closely with Hyundai affiliates and learning from their long standing know-how and accumulated experience in marketing and financing.
In 2003, the Machinery Division plans to overcome challenging business conditions and make the year a milestone in its development. Through focused strategies, significant success is expected in newly developed markets in Asia, Latin America, Europe and Western Africa during the first half of 2002. Moreover, the Division plans to secure several large-scale machinery, automobile, and electrical equipment projects in Iran, Brazil, the Dominican Republic, Taiwan, Indonesia, Malaysia, India and North America during the year. To ensure success, marketing activities will be expanded and strengthened, and business risks stringently monitored and managed by utilizing the combined global resources of other Hyundai affiliates.
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