The History of Hyundai

Title:The History of HyundaiWord Count:471Summary:In the US, we are familiar with the legends whohelped build our country: the Vanderbilts, theFords, the Rockefellers, and others. These weremen who had a vision for the country and carriedit out to the benefit of all. In Korea, a peasantfarmer transformed the nation from a needy thirdworld nation into an international powerhouse.Please read on to learn more about Chung Ju-yung,

the founder of the Hyundai Group.Keywords:discount Hyundai parts, Chung Ju-yung, HyundaiHeavy Industries, Korea, Hyundai Excel, HyundaiUSA, Hyundai Sonata, Hyundai Tiburon, Hyundaitrucks, Hyundai Canada, Kia, Daewoo, Samsung,DaihatsuArticle Body:If you live in North America, you likely are nowvery familiar with the Hyundai line of vehicles.Back in 1986, the first Hyundai was introduced tothe market ?an Excel ?and the company 抯 line uphas changed dramatically since that time. Hyundaiproduces much more than cars; in fact, by the endof the last century Hyundai became one of thelargest companies in the world. Let 抯 take a lookat this Korean based multinational corporationand the company behind Hyundai vehicles.

It was back in 1946, just one year removed fromImperial Japan 抯 occupation of the Koreanpeninsula, that a new company was birthed in whatis now known as South Korea. Hyundai MotorIndustrial Company was founded by Chung Ju-yung,a child of northern Korean peasant farmers, andin 1947 Ju-yung launched a second company,Hyundai Civil Industries. Self educated, Ju-yungtransformed the entire Korean economy with thetight control he exerted over his Hyundaicompanies.The first Hyundai business was tasked withbuilding automobiles while the second Hyundaicompany concentrated on construction. Indeed,much of modern South Korea 抯 infrastructure wasbuilt by Hyundai in the period after the cessationof the Korean War in 1953 and on through the 1970s.Dams, an expressway, a shipbuilding yard, and anuclear power plant were all built by HyundaiCivil Industries, while Hyundai Motors produced

cars made primarily from Japanese components.Hyundai 抯 influence stretched far beyond theKorean peninsula as the company won contracts tobuild an expressway in Thailand and a major portin Saudi Arabia. Clearly, Hyundai dominated theKorean market and quickly became a major playeron the international scene.By the 1970s Hyundai began to build vessels aswell as shipyards and by 1986 Hyundai produced itsfirst vehicle made entirely from Koreancomponents. From the 1980s forward Hyundai addedadditional specialties including the building ofsemiconductors and magnetic levitation trains.All hasn 抰 been glossy for the company, however.Decades of labor problems culminating in newemployee safety standards put in place from the1990s on, tempered the Hyundai mystique. Indeed,up to that time the company was cited for havingthe worst safety standards of any corporation inthe industrialized world.

Cars were another source of problems for whatbecame known as the Hyundai Group. Although nowmanufacturing their own vehicles, the quality ofHyundai vehicles for the first decade wasconsidered by automobile experts to be sub-par.Today, Hyundai vehicles and Hyundai parts are,for the most part, slightly above average inquality compared to the industry as a whole.With Chung Ju-yung 抯 death in 2001, Hyundai wasdivided up into three separate companies: HyundaiHeavy Industries, the Hyundai Motor Group, andHyundai Engineering and Construction. Today, allthree Hyundai companies continue to competesuccessfully in the global marketplace thanks tothe vision of a peasant farmer.