hyundai

    Hyundai (Korean pronunciation: [ç??nd?]) is a group of companies (or chaebol) founded in South Korea by one of the most famous businessmen in Korean history: Chung Ju-yung. The first Hyundai company was founded in 1947 as a construction company by Chung, after his previous efforts running a rice store and an auto-repair business had to be abandoned due to difficulies with the Japanese military government of Korea.
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    Two of the best-known Hyundai divisions are 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.
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    In 1998 Hyundai bought Kia Motors, the oldest South Korean car company which had to file for bankruptcy due to the 1997 Asian financial crisis. Kia is (as of 2011) somewhat independent of Hyundai motors, as Hyundai no longer owns an outright majority of Kia shares.
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    In 1998 Hyundai bought Kia Motors, the oldest South Korean car company which had to file for bankruptcy due to the 1997 Asian financial crisis. Kia is (as of 2011) somewhat independent of Hyundai motors, as Hyundai no longer owns an outright majority of Kia shares.
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    Source URL: http://hyundais.blogspot.com/2011/09/hyundai.html
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