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The investment included more than 2.7 trillion won for R&D for the company's vehicle division and 2 trillion won for the Hyundai Steel Co., the nation's second-biggest steelmaker, Chung Mong-koo, the company's chairman, said.
The country's leading automakers also plan to support parts suppliers by investing some 15 trillion won into the partners by 2011 and will begin mass production of low carbon-dioxide emission vehicles starting next year.
"We plan to contribute, by mass-producing vehicles with low-carbon-dioxide emissions, to the government's goal to make South Korea one of the top four 'green car' nations," the statement said.
The company plans to commence the mass production of a hybrid version of its small-sized sedan model "Avante" starting in the second half of 2009, and to begin the production of other low-emission mid-sized models in 2010.
(Yonhap)
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