Hyundai
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|
| Chaebol | |
| Industry | Conglomerate |
| Fate | Broken up |
| Founded | 1947 |
| Founder | Chung Ju-yung |
| Headquarters | Seoul, South Korea |
|
Area served
|
Worldwide |
| Products |
Automobiles Heavy industry Finance and Insurance Construction Engineering Retail Aerospace Defense Steel |
| Website | www |
| Hyundai | |
| Hangul | 현대 |
|---|---|
| Hanja | 現代 |
| Revised Romanization | Hyeondae |
| McCune–Reischauer | Hyŏndae |
Hyundai Group (Hangul: 현대그룹; Hanja: 現代그룹; /ˈhjʌndɛ/) is a multinational chaebol (conglomerate) headquartered in Seoul, South Korea. It was founded by Chung Ju-yung in 1947 as a construction firm 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 reduced the Hyundai Group's business to encompass only container shipping services, the manufacturing of elevators, and tourism. Today, most companies bearing the name Hyundai are not legally connected to Hyundai Group. They include Hyundai Motor Group, Hyundai Department Store Group, Hyundai Heavy Industries Group and Hyundai Development 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, then it would remain the largest company in South Korea with enormous economic and political power in the country.
The name "Hyundai" comes from the Korean word 現代 (hanja form), which means "modernity".
Hyundai was founded as a small construction firm by Chung Ju-yung in 1947. Hyundai Construction began operating outside of South Korea in 1965, initially entering the markets of Guam, Thailand and Vietnam.
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