HKucar Global Co., Ltd. will be an institutionalized nationwide used car dealership network with a close relationship with Hyundai-Kia Automotive Group. In a highly fragmented used car market with few institutionalized players, HKucar is well poised to gain leadership through a large platform and high quality services. HKucar was spun-off from Hyundai-Kia Automotive Group in December, 2006; Hyundai Motor Company and Kia Motors are minority shareholders of HKucar.