Hyudai Corp. receives order worth $30 million

Hyundai Corp. along with Hyundai Heavy Industries received orders for cranes worth $30 million from Hutchinson Port Holdings (HPH), a Hong Kong-based port operation service firm.

Hyundai will provide five large cranes until 2002 to Kwai Chung Container Terminal, which will be operated by HPH and its subsidiary HIT.

Hynix, to launch DR sales

Domestic subscruotions for depositary receipts(DRs) issued by Hynix Semiconductor will be offered for three days starting today, LG Investment and Securities announced yesterday.

LG Investment and Securities, the agent in charge of Hynix's domestic DR sales, said a total of $800 million worth of DRs will be issued this time, with 10 percent,or $80 million, to be sold in the local market.

Forty percent of the $80 million has been allocated for institutional investors, 40 percent to common investors, and 20 percent to directors of Hynix Semiconductor.

Investors planning to subscribe to Hynix DRs have to open a foreign currency securities dollar accont at LG Investment and Securities and pay the entire subscription cost as a deposit.

The minimum investment limit per person is 10 million won($7,785) and the payment deadline in June 21.

Hynix Semiconductor plans to issue $350 million in fresh high yield bonds to overseas investor in addition to the domestic DR sale.

Ambassadors, Diplomats Visit HHI

A group of diplomatic delegates in Korea, including ambassadors like H.E. Alfred F. Ungo of El Salvador, visited HHI on May 24.

These distinguished visitors who came to tour the world¡¯s largest industrial site included ambassadors and their wives from El Salvador, Austria, Switzerland, and other countries numbering 45 people, and 61 commercial attaches and high level diplomats from 70 different countries.

The visitors arrived at around 10:30 am to the HHI Culture & P.R, Offices.

And then saw a company introduction film and viewed an exhibition room after they were received by Chairman Kim Hyung Byuk, President & CEOs Min Keh-Sik & Choi Kil-Seon, and the heads of each business division.

They then took a tour o the ship construction site and the engine shop on foot.

Next in the afternoon came visits to the Construction Equipment Division¡¯s assembly plant, the Eastern campus of Ulsan College, Hyundai Arts Center, and a trip to Kangdong Soccer Field, in that order.

H.E. Alfred Ungo, from El Salvador, and other ambassadors had heard of HHI by word of mouth only, and got to see the production site firsthand.

They said the HHI yard was a must to visit and that it was ¡°a steel revolution.¡±

They also said that HHI was a confirmation of Korea¡¯s potential.
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