Hyundai Group is a South Korean conglomerate (Chaebol) founded by Chung Ju-yung. The first company in the group was founded in 1947 as a construction company. With government assistance, Chung and his family members rapidly expanded into various industries, eventually becoming South Korea's second biggest chaebol. The company spun off many of its better known businesses after the 1997 Asian financial crisis, including Hyundai Automotive Group, Hyundai Department Store Group, and Hyundai Heavy Industries Group.
The Hyundai Group now focuses on elevators, container services, and tourism to Mount Kumgang. As of March 2007, Hyundai Engineering and Construction is the main shareholder of Hyundai Merchant Marine, which is the de facto holding company of Hyundai Group.
Read more about Hyundai Group: History, Affiliated Companies, Restructuring
Famous quotes containing the word group:
“The boys think they can all be athletes, and the girls think they can all be singers. That’s the way to fame and success. ...as a group blacks must give up their illusions.”
—Kristin Hunter (b. 1931)