Monday, 9 May 2011
CASE 282 - Hyundai
Hyundai (Korean pronunciation: [çjəːndɛ]) is a group of companies (or chaebol) founded in South Korea. The first Hyundai company was founded in 1947 as a construction company.
Some of the best-known Hyundai divisions is Hyundai Motor Company, the world's fifth largest automobile manufacturer by volume as of 2009, and Hyundai Heavy Industries, the world's largest shipbuilder. Other companies currently or formerly controlled by members of Chung's extended family may be loosely referred to as a part of the Hyundai chaebol.
In 1998 Hyundai bought Kia Motors, another South Korean company.
Hyundai Group underwent a massive restructuring following the 1997 East Asian financial crisis and the founder's death in 2001. Today many companies bearing the name Hyundai are not part of or connected to the Hyundai Group. Some of the larger former members of the conglomerate include Hyundai Group, Hyundai Kia Automotive Group, Hyundai Department Store Group, Hyundai Heavy Industries Group, and Hyundai Development Group. Following the conception, Hyundai Group's business remains manufacturing of elevators, container shipping services, and tourism.
Hyundai branded vehicles are manufactured by Hyundai Motor Company, which along with Kia comprises the Hyundai Kia Automotive Group. Headquartered in Seoul, South Korea, Hyundai operates the world's largest integrated automobile manufacturing facility in Ulsan, which is capable of producing 1.6 million units annually. The company employs about 75,000 persons around the world. Hyundai vehicles are sold in 193 countries through some 6,000 dealerships and showrooms worldwide. In 2010, Hyundai sold over 1.7 million vehicles worldwide. Popular models include the Sonata midsize sedan and Elantra compact.