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If you live in North America, you probably are now extremely familiar with the Hyundai line of vehicles. Back in 1986, the first Hyundai was introduced to the market an Excel and the companys line up has changed significantly because that time. Hyundai produces significantly far more than automobiles in truth, by the finish of the final century Hyundai became 1 of the largest companies in the world. Lets take a appear at this Korean based multinational corporation and the business behind Hyundai vehicles.

It was back in 1946, just a single year removed from Imperial Japans occupation of the Korean peninsula, that a new organization was birthed in what is now known as South Korea. Hyundai Motor Industrial Company was founded by Chung Ju-yung, a youngster of northern Korean peasant farmers, and in 1947 Ju-yung launched a second business, Hyundai Civil Industries. Self educated, Ju-yung transformed the entire Korean economic climate with the tight control he exerted over his Hyundai organizations.

The 1st Hyundai company was tasked with creating automobiles whilst the second Hyundai business concentrated on construction. Indeed, significantly of modern South Koreas infrastructure was built by Hyundai in the period after the cessation of the Korean War in 1953 and on through the 1970s. Dams, an expressway, a shipbuilding yard, and a nuclear power plant had been all constructed by Hyundai Civil Industries, although Hyundai Motors made cars created primarily from Japanese components. Hyundais influence stretched far beyond the Korean peninsula as the firm won contracts to construct an expressway in Thailand and a major port in Saudi Arabia. Obviously, Hyundai dominated the Korean industry and rapidly became a major player on the international scene.

By the 1970s Hyundai began to build vessels as properly as shipyards and by 1986 Hyundai produced its 1st car produced entirely from Korean components. From the 1980s forward Hyundai added extra specialties including the building of semiconductors and magnetic levitation trains.

All hasnt been glossy for the organization, nevertheless. Decades of labor problems culminating in new employee safety standards put in location from the 1990s on, tempered the Hyundai mystique. Indeed, up to that time the organization was cited for possessing the worst security standards of any corporation in the industrialized world.

Vehicles had been one more source of problems for what became recognized as the Hyundai Group. Even though now manufacturing their own automobiles, the high quality of Hyundai autos for the very first decade was regarded as by automobile authorities to be sub-par. Nowadays, Hyundai automobiles and Hyundai parts are, for the most component, slightly above average in high quality compared to the industry as a entire.

With Chung Ju-yungs death in 2001, Hyundai was divided up into 3 separate firms: Hyundai Heavy Industries, the Hyundai Motor Group, and Hyundai Engineering and Construction. Right now, all three Hyundai firms continue to compete effectively in the international marketplace thanks to the vision of a peasant farmer. deal tell us what you think intangible