Tacking a New Course with Horizontal Management Quality will replace quantity as the driving force of future growth at Kia Motors and Hyundai Motor under a newly adopted long-term business vision that aims to vault Kia and Hyundai into the ranks of the global top five automakers by 2010. The blueprint for future growth was unveiled by Chairman Chung Mong-Koo on September 25th at a joint Kia-Hyundai conference attended by executives and staff of both companies. “Management will put a greater effort on establishing a horizontal management system throughout the organization, one which will empower workers at all levels with greater authority and responsibility,” said Chairman Chung. The new approach is founded on three pillars: improving inter-personal relations (“Trust-Based Management”), diffusion of authority (“Site-Based Management”) and efficiency (“Transparent Management”). “To create a fiscally healthier corporation, management will continue to pursue a business structure that puts greater emphasis on profitability, said Chairman Chung. He concluded his remarks by emphasizing, “In order for this company to take its place among the global leaders in the automotive industry, each and every member of the Hyundai and Kia family needs to strengthen their spirit of challenge, the main engine that has propelled our growth for decades,” he added.