Hyundai Motor on Tuesday took the wraps off the long-anticipated new Genesis, which the carmaker calls the ultimate expression of its years of efforts to create premium models.

At a lavishly choreographed launching event held at a Seoul hotel, more than 1,000 Hyundai executives and business leaders across industries gathered to celebrate the debut of the revamped luxury sedan. Prime Minister Chung Hong-won and National Assembly Vice Speaker Lee Byung-seok also attended the show.

“The new Genesis is the culmination of Hyundai’s latest technologies,” said Hyundai Motor Group chairman Chung Mong-koo in his opening remarks. “The car will elevate Hyundai’s brand value in overseas markets as it competes head-on with European premium brand cars.”

It was a rare appearance for the Hyundai chief at a new car unveiling, the first since Kia Motors’ first luxury sedan K9 in May last year at the same venue.

Hyundai has planned the new vehicle since 2009, right after its debut in 2008, with the aim of developing a globally competitive premium sedan. About 500 billion won ($470 million) was poured into the whole process, the carmaker said.

While adhering to the traditional lines of the original concept, the new Genesis gets a bolder and more dynamic styling, best represented by the new Hexagonal grille that consists of broad horizontal lines in a gaping mouth.

The length is about 5 millimeters longer than its predecessor, but the wheelbase has also been lengthened a bit more for increased legroom.

Ultra-strength steel gives the new Genesis an edge in crashworthiness, weight and cost, with the material covering 51 percent of the body compared to 20-30 percent for its key rivals such as the BMW 5 Series and Mercedes-Benz E-Class.

Hyundai also put considerable resources into improving the driving expediences of the new Genesis, which has been better known for its comfort driving.

The new Genesis is the first Hyundai sedan to have all-wheel drive, called HTRAC, which electronically controls the torque split between the front and rear axles depending on road and driving conditions.

In order to push the car to its limits, the carmaker took the vehicle to renowned driving courses around the world, including Germany’s Nurburgring racing track and its own proving ground in the Mojave Desert of California.

According to the carmaker, two Lambda GDI engines are available. The 3.3-liter engine generates 282 horsepower with a fuel rating of 9.4 kilometers per liter, while the 3.8-liter has 315 horsepower and a 9-kilometer-per-liter fuel economy.

Crammed with other enhanced safety and convenience features, the car ranges in price from 46.6 million won to 69.6 million won, depending on options.

Hyundai aims to sell about 62,000 Genesis cars globally next year, including 32,000 in Korea and some 3,000 in overseas markets, officials said.

By Lee Ji-yoon (jylee@heraldcorp.com)