Korea’s Largest Automobile Company : When I think of the largest automobile company in Korea, I immediately think of Hyundai Group. It’s the largest car company in Korea, and there are many interesting stories about Hyundai Group other than related cars. Now, Hyundai Groom is famous for its cars, but its main management was Hyundai Engineering & Construction! For a while, it was a bigger group than Samsung Group, and it was the top of the 20th century Korean conglomerate!
History of the Modern Group
The group’s founder was reorganized into a corporation after Chairman Chung Ju-young established Hyundai Construction in 1947 and merged with Hyundai Motor Industrial in 1950, and established Hyundai Merchant Marine in the same year to pave the way for business expansion. In 1967, Hyundai Motor Company and Hyundai Shipbuilding Heavy Industries were established in Ulsan, Gyeongsangnam-do, respectively, and entered the automobile and shipbuilding industries, leading the heavy and chemical drive, establishing themselves as Korea’s representative corporate group. Ulsan, which was just an ordinary city by Hyundai’s factory in Ulsan, became the seventh city in Korea and the largest industrial city with the largest shipyard on the Korean Peninsula, and without Hyundai, Ulsan Metropolitan City would not have existed today!
Korea’s Biggest Conglomerate in the 20th Century
In Korea after the 21st century, Samsung has an overwhelming position in terms of size and influence, but until the 1990s after the Middle East construction boom in the late 1970s, the largest business group in Korea was Hyundai Group! The relationship between Samsung and Hyundai was friendly until the 1970s. Unlike Samsung, which was dominated by light industries such as distribution (department stores), food, electronics, trade, and chemicals, Hyundai did not compete in heavy industries such as construction, automobiles, and shipbuilding. However, the relationship began to deteriorate in 1979, especially after the 1980s, when Hyundai entered electronics, department stores, petrochemicals, and Samsung entered heavy industry and construction, the competition between the two intensified.
Hyundai Group now
Hyundai Motor Company is famous in the world beyond the borders of Korea. When I talk about Korean cars, I think of Cya a lot, not Hyundai. But a lot of friends might not know this. The current Cya car belongs to Hyundai Motor Company! It merged with Hyundai Motor in 1999! Hyundai Group is famous in many fields except for cars in Korea. Hyundai Elevator is also very famous. I’ve heard of Hyundai Department Store and Hyundai Card a lot. It’s a successful group in those areas. Now according to the official Romanization, ‘modern’ becomes HYEONDAE. Nevertheless, the reason why the English notation is HYUNDAI is because in the past, the English notation of ‘large’ was mixed with ‘DAE’ and ‘DAI’. After it was decided as “DAE” in the future, the notation has already been solidified for decades, so there is a risk of changing the name now, so we decided to keep it as it is.
Interesting stories about the group
It was a self-made company created by the founder with bare hands, and as shown by the construction, automobile, and Joseon’s main industries, it was famous for its enterprise culture that was very enterprising, adventurous, rough, and masculine. It’s a company that symbolizes the spirit of “do it” and “do not do it” of the Korean economy! Due to these corporate and cultural characteristics, Hyundai Group affiliates (excluding Incheon Steel) were able to form the strongest labor union during the Korean labor movement after the June 1987 uprising, and Hyundai Group unions in Ulsan became literally icons of the labor movement.
Hyundai Group is bigger than you think. There are so many related fields and companies besides Hyundai Motor, financial companies, and department stores that many people know. Did you just find out that it was Korea’s biggest conglomerate and bigger than Samsung? It’s fun to find out about big Korean groups~~~.
Korea’s Largest Automobile Company corporate culture
It is a self-made company created by the founder with bare hands, and as shown by the construction, automobile, and Joseon’s main industries, it was famous for its very enterprising, adventurous, rough and masculine corporate culture. It is right to say that it is a company that symbolizes the spirit of “do it” and “do not do it” of the Korean economy. Of course, I did carry all the side effects, and some of them still remain… In the case of some pan-modern family groups, the use of military-style “Danaka” bodies is encouraged and the culture of poo military discipline emphasizing top-down clothes is still maintained.
