How to Spell Hyundai-Hyundai organization (Hangul: ; Hanja: , pronounced [jnd]) is a conglomerate headquartered in Seoul, South Korea. It was founded by Chung Ju-yung in 1947 as a construction solution and Chung was directly in control 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 condensed the Hyundai Group’s issue to encompass abandoned container shipping services, the manufacturing of lifts, and tourism. Today, most companies bearing the make known Hyundai are not legally associated to Hyundai Group. They affix Hyundai Motor Group, Hyundai Department stock Group, Hyundai close Industries society and Hyundai press forward Company. However, most of the former subsidiaries of the Hyundai conglomerate continue to be manage by relations of Chung. If these companies were considered as forming a single broad relatives business, then it would remain the largest company in South Korea taking into account immense economic and political power in the country.
Hyundai was founded as a small construction truth by Chung Ju-yung in 1947. Hyundai Construction began keen external of South Korea in 1965, initially entering the markets of Guam, Thailand and Vietnam.
Hyundai Motor Company was founded in 1967. Hyundai heavy 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 early PC clones marketed toward consumers instead of business.
Hyundai announced a major executive restructuring in December 1995, affecting 404 executives.
In April 1999 Hyundai announced a major corporate restructuring, involving a two-thirds tapering off of the number of concern units and a scheme to break happening the help into five independent matter groups by 2003.
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Hyundai Motor Company
Hyundai branded vehicles are manufactured by Hyundai Motor Company, which along bearing in mind 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 adept of producing 1.6 million units annually. The company employs nearly 75,000 people approximately the world. Hyundai vehicles are sold in 193 countries through some 6,000 dealerships and showrooms worldwide. In 2012, Hyundai sold greater than 4.4 million vehicles worldwide. popular models intensify the Sonata and Elantra mid-sized sedans.
The Asan Foundation, received by Chung Ju-yung in 1977 similar to 50 percent of the stock of Hyundai Construction, subsidizes medical facilities in Korea primarily through the Asan Medical middle and six supplementary hospitals. The inauguration has sponsored conferences on Eastern ethics and funded academic research into standard Korean culture. In 1991, it acknowledged the annual Filial Piety Award.
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