At Hyundai Heavy Industries, innovation is an integral part of our corporate DNA. On average, our research organization has well over 1,400 projects underway at any given time.
Augmented by institutes in Hungary and China as well as a growing number of international partnerships, our four Korea-based research institutes are the creative dynamos that have helped us achieve a top-five global market share in 29 product categories to date, including four in 2009 alone. Our goal is to expand this number to 32 categories by the end of 2010.
In 2009, we invested KRW 164 billion in R&D. We plan to invest KRW 246 billion in 2010 — 50% more than we invested last year and the equivalent of 1.1% of our projected sales — as we continue to innovate to enhance our global competitiveness.
