Frank Kent Hyundai-Hyundai intervention (Hangul: ; Hanja: , pronounced [jnd]) is a conglomerate headquartered in Seoul, South Korea. It was founded by Chung Ju-yung in 1947 as a construction answer and Chung was directly in manage of the company until his death in 2001.
Following the 1997 East Asian financial crisis and Chung’s death, Hyundai underwent a major restructuring and break-up, which abbreviated the Hyundai Group’s concern to encompass on your own container shipping services, the manufacturing of lifts, and tourism. Today, most companies bearing the proclaim Hyundai are not legally connected to Hyundai Group. They complement Hyundai Motor Group, Hyundai Department amassing Group, Hyundai heavy Industries bureau and Hyundai take forward Company. However, most of the former subsidiaries of the Hyundai conglomerate continue to be run by relatives of Chung. If these companies were considered as forming a single broad family business, later it would remain the largest company in South Korea as soon as huge economic and political capability in the country.
Hyundai was founded as a small construction definite by Chung Ju-yung in 1947. Hyundai Construction began working uncovered of South Korea in 1965, initially entering the markets of Guam, Thailand and Vietnam.
Hyundai Motor Company was founded in 1967. Hyundai stuffy Industries was founded in 1973, and completed the construction of its first ships in June 1974.
In 1983 Hyundai entered the semiconductor industry through the creation of Hyundai Electronics (renamed Hynix in 2001).
In 1986 a Hyundai-manufactured IBM PC-XT compatible called the Blue Chip PC was sold in discount and toy stores throughout the US. It was one of the primeval PC clones marketed toward consumers on the other hand of business.
Hyundai announced a major direction restructuring in December 1995, affecting 404 executives.
In April 1999 Hyundai announced a major corporate restructuring, involving a two-thirds dwindling of the number of situation units and a plot to rupture taking place the charity into five independent business groups by 2003.
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Hyundai Motor Company
Hyundai branded vehicles are manufactured by Hyundai Motor Company, which along similar to Kia comprises the Hyundai Kia Automotive Group. Headquartered in Seoul, South Korea, Hyundai operates in Ulsan the world’s largest integrated automobile manufacturing facility, which is bright of producing 1.6 million units annually. The company employs about 75,000 people all but the world. Hyundai vehicles are sold in 193 countries through some 6,000 dealerships and showrooms worldwide. In 2012, Hyundai sold beyond 4.4 million vehicles worldwide. popular models count up the Sonata and Elantra mid-sized sedans.
The Asan Foundation, normal by Chung Ju-yung in 1977 like 50 percent of the increase of Hyundai Construction, subsidizes medical services in Korea primarily through the Asan Medical center and six new hospitals. The initiation has sponsored conferences upon Eastern ethics and funded academic research into normal Korean culture. In 1991, it customary the annual Filial Piety Award.
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