Hyundai Group facts for kids

Quick facts for kids
Hyundai Group

Founded	1947; 78 years ago (1947)
Founder	Chung Ju-yung
Headquarters	Seoul , South Korea
Key people	Hyun Jeong-eun [ko] (Chairman & CEO)

The Hyundai Group is a big company from South Korea. It was started by a person named Chung Ju-yung in 1947. Back then, it was just a construction company.

With help from the government, Chung Ju-yung and his family quickly made the company grow. They started many different businesses. Hyundai became one of South Korea's largest chaebols, which are big family-run business groups.

Chung Ju-yung was in charge until he passed away in 2001. After that, many famous parts of Hyundai became separate companies. These include Hyundai Motor Group (which makes cars), Hyundai Department Store Group, and Hyundai Heavy Industries Group. Today, the Hyundai Group mainly focuses on making elevators and helping with tourism to Mount Kumgang in North Korea.

What Does "Hyundai" Mean?

The name "Hyundai" comes from a Korean word (hanja: 現代). This word means "modernity" or "being modern."

How Hyundai Group Started and Grew

In 1947, Chung Ju-yung started a company called Hyundai Togun. This was the very first part of what would become the Hyundai Group. In 1950, its name changed to Hyundai Construction.

Hyundai Construction began working outside South Korea in 1965. Their first projects were in Guam, Thailand, and Vietnam. In 1958, a company called Keumkang was created to make building materials.

Expanding into New Industries

In 1967, Hyundai Motors was started. This company would become famous for making cars. Then, in 1973, Hyundai Heavy Industries was founded. This company built its first ships in 1974.

In 1975, Hyundai built a large car factory and launched a new Korean car. A trading company, Hyundai Corporation, was also set up in 1976. The same year, a shipping company, Asia Merchant Marine Co., was established. It later became Hyundai Merchant Marine.

The former headquarters of Hyundai in Seoul, South Korea

In 1983, Hyundai entered the computer chip business. They created Hyundai Electronics, which later changed its name to Hynix. In 1986, Hyundai Research Institute was also established.

Hyundai in the 1980s and 1990s

In 1986, Hyundai made a computer called the "Blue Chip PC." It was one of the first computers sold to regular people, not just businesses. By the mid-1990s, Hyundai had over 60 different companies. They worked in many areas like cars, construction, chemicals, and electronics.

During the 1997 Asian financial crisis, Hyundai bought Kia Motors and LG Semi-Conductor.

Changes After the 1997 Crisis

In 1998, South Korea faced economic problems. This made Hyundai start to reorganize. They sold off some companies and focused on five main business areas.

Even with these changes, Hyundai began a special project. They started tourism from South Korea to Mount Kumgang in North Korea. In 1999, Hyundai Asan was created to manage this tourism. It also worked on the Kaesong Industrial Complex and other projects between the two Koreas.

In 1999, Hyundai announced a big plan to break up into five separate groups by 2003. When the founder, Chung Ju-yung, died in 2001, the Hyundai Group continued to split apart.

Hyundai Today

As of 2023, the Hyundai Group still builds and exports many things. This includes trains, freight cars, and passenger coaches. They also make equipment for oil drilling.

Hyundai's international exports include cement, pianos, and electronics. Hyundai has businesses on almost every continent.

Hyundai Logos Over Time

• 

  1957-1974 logo

• 

  1974-1984 logo

• 

  The current logo in use since 1984

• 

  Hanja variant

Companies Part of Hyundai Group

As of 2017, these are some of the companies that are part of the Hyundai Group:

• Hyundai Power Equipment
• Hyundai Elevator
• Hyundai Movex
• Hyundai Asan
• Hyundai Research Institute
• Hyundai Investment Partners
• Hyundai Global
• Able Hyundai Hotel & Resort
• Bloomvista

About Hyundai Motor Company

Hyundai Motor Company makes Hyundai cars. This company, along with Kia Motors, forms the Hyundai Motor Group. Hyundai Motor Company has its main office in Seoul, South Korea.

In Ulsan, South Korea, Hyundai has the world's largest car factory. It can make 1.6 million cars every year. About 75,000 people work for Hyundai around the world. Hyundai cars are sold in 193 countries. They are sold through about 6,000 car dealerships and showrooms. In 2012, Hyundai sold over 4.4 million cars worldwide. Some popular models are the Sonata and Elantra sedans.

Asan Foundation

The Asan Foundation was started by Chung Ju-yung in 1977. It helps provide medical services in Korea. It does this mainly through the Asan Medical Center and six other hospitals. The foundation also supports research into Korean culture. In 1991, it started an annual award for "Filial Piety," which means showing respect to parents and elders.

See Also

• Economy of South Korea
• Chaebol
• Hyundai Motor Company