Hyundai
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Hyundai refers to a group of companies founded by Chung Ju-yung in South Korea, and related organizations. The first Hyundai company was founded in 1947 as a construction company, and the Hyundai Group eventually became South Korea's biggest conglomerate company (chaebol).
The best known global Hyundai brand is the Hyundai Motor Company. Hyundai Heavy Industries is the world's largest shipbuilder, and Hynix is a top semiconductor producer. 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.
Today, many companies bearing the Hyundai name are legally unrelated. The Hyundai Group underwent massive restructuring following the 1997 East Asian financial crisis and the founders death in 2001. It was split into several independent entities, including Hyundai Kia Automotive Group, Hyundai Department Store Group, Hyundai Heavy Industries Group, and Hyundai Development Group. After the split, the company now called Hyundai Group focuses on elevators, container services, and tourism to Mount Kumgang.
The Korean name 현대 (Revised:Hyeondae; [çjʌn.dæ]) means "modernity". It is often pronounced as [hʌn.de] in the U.S., as [haɪ.ʌn.daɪ] in the U.K., as [hi.jʌn.dæɪ] in Australia, and as [ɣɛɴdai] in Japanese. Early U.S. advertising for the Hyundai Excel car told readers "It rhymes with Sunday".
[edit] See also
[edit] External Links
- Businessweek article 2001
- Hyundai Group website (in Korean)
- Hyundai Crisis: Its Development and Resolution (PDF file only)
