UANI Calls on Hyundai to End Its Business in Iran

FOR IMMEDIATE RELEASE December 16, 2010 Contact: Kimmie Lipscomb, mailto:press@unitedagainstnucleariran.com Phone: (212) 554-3296 UANI Calls on Hyundai to End Its Business in Iran New York, NY - United Against Nuclear Iran (UANI) today called on Hyundai Motor Company (Hyundai) to follow the lead of responsible global corporations and end its business in Iran. Hyundai continues to conduct business in Iran through the export and manufacture of passenger and commercial vehicles. Hyundai also holds significant ownership shares in several companies that have had reported business dealings in Iran. Hyundai Rotem, of which Hyundai owns a majority share, is of particular concern given its manufacture of railcars and defense-related products. The recent news regarding Iran's cooperation with the Democratic People's Republic of Korea (DPRK) on nuclear weapons technology should be of great concern to one of the most recognized companies of South Korea. In a letter to Mr. Chung Mong-Koo, Chairman and CEO of Hyundai Motor Company, UANI President, Ambassador Mark D. Wallace wrote: UANI strongly encourages Hyundai to follow the lead of other responsible companies like Kia Motor Co. and Toyota and cease not only all exports to Iran, but also company investments in Iran, particularly those that facilitate the ability of the regime in Tehran to pursue policies that threaten global security. **** While UANI acknowledges recent reports in the press about Hyundai curtailing some of its exports to Iran, we are still greatly concerned about many of Hyundai's investments and business operations working directly in Iran. Hyundai continues to hold significant ownership shares in Hyundai HYSCO, Hyundai Mobis, Hyundai Oil Bank, and Hyundai Rotem - companies that all have had reported business dealings in Iran. Hyundai Rotem, of which Hyundai owns a majority share, is of particular concern given its manufacture of railcars and defense-related products. More broadly, Hyundai sells vehicles through its exclusive distributor Assan Motors and has partnered with local Iranian producers such as the Kerman Motor Company, the Rayen Vehicle Manufacturing Co., and the Iran Khodro Diesel Co. to produce different types of Hyundai vehicles and key components in Iran. **** UANI feels very strongly that Hyundai's investments and business holdings in Iran could cause lasting damage to the company's corporate image and reputation, both here and abroad. **** UANI calls upon Hyundai to cease all of its business dealings in Iran. In taking such action, Hyundai can join these companies and send a strong signal to the Iranian government that their behavior is unacceptable. In light of the above concerns, please let us hear from you by December 27, 2010 regarding your business dealings in Iran. # # # Click here to send a message to Hyundai. Click here to read the full text of the letter to Hyundai. United Against Nuclear Iran (UANI) is a program of the American Coalition Against Nuclear Iran, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The prospect of a nuclear-armed Iran should concern every American and be unacceptable to the community of nations. Since 1979 the Iranian regime, most recently under President Mahmoud Ahmadinejad's leadership, has demonstrated increasingly threatening behavior and rhetoric toward the US and the West. Iran continues to defy the International Atomic Energy Agency (IAEA) and the United Nations in their attempts to monitor its nuclear activities. A number of Arab states have warned that Iran's development of nuclear weapons poses a threat to Middle East stability and could provoke a regional nuclear arms race. In short, the prospect of a nuclear armed Iran is a danger to world peace. United Against Nuclear Iran (UANI) is a non-partisan, broad-based coalition that is united in a commitment to prevent Iran from fulfilling its ambition to become a regional super-power possessing nuclear weapons. UANI is an issue-based coalition in which each coalition member will have its own interests as well as the collective goal of advancing an Iran free of nuclear weapons. The Objectives of United Against a Nuclear Iran Inform the public about the nature of the Iranian regime, including its desire and intent to possess nuclear weapons, as well as Iran's role as a state sponsor of global terrorism, and a major violator of human rights at home and abroad; Heighten awareness nationally and internationally about the danger that a nuclear armed Iran poses to the region and the world; Mobilize public support, utilize media outreach, and persuade our elected leaders to voice a robust and united American opposition to a nuclear Iran; Lay the groundwork for effective US policies in coordination with European and other allies; Persuade the regime in Tehran to desist from its quest for nuclear weapons, while striving not to punish the Iranian people, and; Promote efforts that focus on vigorous national and international, social, economic, political and diplomatic measures. UANI is led by an advisory board of outstanding national figures representing all sectors of our country.

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