HYUNDAI MIPO DOCKYARD Investor Relations 2009 03 1

HYUNDAI MIPO DOCKYARD Investor Relations 2009. 03 1

CONTENTS I. III. IV. Overview Financial Results & Analysis Business Performance Hyundai-Vinashin Shipyard

I. Overview

Company Profile (2008. 1. 30) Company Data Shareholder Structure • Establishment : 1975. 4. 28 • Initial share listing : 1983. 12. 20 Others • Shift to Shipbuilding : 1996. 01 • Employees : 3, 705 (as of Dec 2008) • Common Stock : 100 Billion Won (20 Million Shares) 26. 60% Foreign Investors 23. 85% Treasury Fund 3. 46% Hyundai Samho Heavy Industries 46. 09% • Business Category: Shipbuilding • Main Product : Mid-sized PC & Container • Market Share : 29% in Mid-sized PC vessel market 1

GROUP STRUCTURE (As of Feb 2008) 7. 98% Hyundai Heavy Industries Shipbuilding 94. 92% 67. 49% Hyundai Samho Heavy Industries Hyundai Finance Shipbuilding Corporate finance & Investment 46. 09% Hyundai Mipo Dockyard 68. 38% Shipbuilding 55% Hyundai Vinashin Shipyard in Vietnam Ship repairing & Conversion 65. 22% Hyundai Venture Investment Hyundai Futures Investment in venture firms Financial services 100% Mipo Engineering Ship design & Engineering 76. 15% Hi Investment & Securities Business 2

II. Financial Result & Analysis

FINANCIAL HIGHLIGHTS Sales (Billions. KRW) Net Income Ratio Operating Income Ratio Liabilities-to-Equity Ratio 3

FINANCIAL Financial PERFORMANCE Performance 1. 2. Sales and income are increasing due to the enhanced productivity Profit margin is the highest among all shipbuilders in the world (Unit: Billions of KRW) 2008. 3 Q 2008. 4 Q 2007 2008 4

CAPITAL STRUCTURE 1. Assets increased due to increased value of investment securities and increased advances from customers 2. Liabilities to Equity Ratio Increase (2007 : 126. 61% 2008 : 220. 96%) (Unit: Billions of KRW) 2008 2007 Yo. Y 5

LONG-TERM INVESTMENT SECURITIES 1. 2. Mostly invested in Blue-Chip Stocks Decreased value of investment securities (2009. 02. 27) (Unit: Billions of KRW) Company Ownership Hyundai Heavy Industries Listed Companies KCC POSCO Total 1. 00 % Shares Market Value 7. 98% 6, 063, 000 1, 076 3. 77% 397, 000 113 872, 0 00 275 7, 332, 000 1, 464 6

III. Business Performance

NEW ORDER (Unit: Thousands of USD) 2005 2006 2007 2008. 12 Vessel Amount P/C 28 1, 181, 000 62 2, 821, 018 65 3, 094, 918 38 1, 902, 930 CONT 42 1, 979, 200 8 372, 800 PCTC 20 1, 289, 000 2 178, 000 RORO 15 1, 099, 300 6 591, 000 10 474, 498 44 1, 950, 750 118 6, 330, 516 90 4, 622, 680 LPG 12 703, 460 G/C 4 262, 000 B/C Total 70 3, 160, 200 78 3, 786, 478 7

DELIVERY (Unit: Thousands of USD) 2006 2007 2008 2009. 02 Vessel Amount P/C 42 1, 254, 307 43 1, 456, 873 47 2, 072, 436 6 282, 040 CONT 20 769, 061 24 1, 028, 447 21 1, 078, 511 1 65, 130 2 113, 220 2 119, 950 70 3, 264, 167 9 467, 120 PCTC RORO LPG G/C B/C Total 62 2, 023, 368 67 2, 485, 320 8

BACKLOGS (Unit: Thousands of USD) 2006 Vessel Amount 2007 Vessel 2008 2009. 02 Amount Vessel Amount 7, 762, 401 156 7, 485, 078 P/C 142 5, 983, 717 164 7, 636, 311 162 CONT 46 2, 124, 636 30 1, 516, 441 3 158, 330 2 93, 200 PCTC 20 1, 289, 000 22 1, 475, 500 RORO 15 1, 099, 300 21 1, 690, 300 LPG 12 703, 460 13 806, 840 11 686, 890 G/C 4 262, 000 10 474, 498 49 2, 205, 099 255 12, 981, 010 274 14, 360, 470 265 13, 898, 067 B/C Total 204 9, 073, 813 9

Shipbuilding Market Prospects Product Carrier ▶New refinery facilities of around 9 mbpd which are planned in Middle East, China and India will boost the demand for the product carriers ▶The increase in the cargo volumes and trading distance caused by the economic growth and new refinery facilities will accelerate the new tonnage of PC Container ▶The continuing growth of world economy will increase the demand for containerships ▶Considering the less order backlogs compared to ultra sized vessels, the shipbuilding orders for sub-sized container vessels are expected to resume from this year. PCTC/RORO LPG ▶The sharp economic growth and the diversification of the car manufacturing depot in BRICs region will require the huge demand for carriers ▶The strengthening of the environmental regulation in EU and the increase in the car demand in emerging country will require the feeder service of 2, 000 ~ 4, 500 units PCTC ▶About 40% of the existing PCTC fleet is aged over 20 years ▶The new refinery facilities in Middle East, China and India and continuous development of LNG fields will boost the production of LPG and sea born trade of LPG Carriers. ▶The necessity of LPG Carriers will be increased by more consumption of LPG instead of Oil, which to be stimulated by the demand of clean energy worldwidely. 10

Newbuilding Price Trend (Unit: Millions of USD) 11

CAPEX PLAN ● In 2008 and 2009, invest in acquisition of new yard to enhance production capacity (Unit: Billions of KRW) 12

IV. Hyundai-Vinashin Shipyard

OVERVIEW Company Data Shareholder Structure • Establishment : 1996. 03. 22 • Local Partner: Vietnam Shipbuilding Union • Employees : 3, 839 (Local: 3, 811, HMD: 28) • Common Stock : US $ 33, 456, 938 10% • Business Category - Current: Ship Repair & Conversion 30% 5% 55% - Potential: Ship Building • Dock: No. 1(80 K DWT), No. 2(400 K DWT) • Quay: 1. 35 Km (4 EA) • Capacity: 2007 (133 vessels) 13

FINANCIAL PERFORMANCE (Unit: Thousands of USD) 2005 2006 2007 2008 Sales 110, 598 132, 261 120, 372 186, 378 Operating Income 20, 967 22, 470 24, 479 49, 195 18. 96% 16. 99% 20. 34% 26. 40% 13, 970 17, 118 21, 783 40, 086 12. 63% 12. 94% 18. 10% 20. 08% Net Income 14