Hyundai_Veracruz_CrossoverHyundai is a group of companies founded by Chung Ju-yung in South Korea. The first Hyundai company was founded in 1947 as a construction company.
Some of the best-known Hyundai divisions are Hyundai Motor Company, the world's fourth largest automaker[1] and one of the Big Asian Four (with Toyota, Honda and Nissan),[2] and Hyundai Heavy Industries, the world's largest shipbuilder.[3] 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.
In 1998 Hyundai bought Kia Motors, another South Korean company.
Hyundai Group underwent a massive restructuring following the 1997 East Asian financial crisis and the founder's death in 2001. Today many companies bearing the name Hyundai are legally unrelated to the Hyundai Group. Some of the larger former members of the conglomerate include Hyundai Group, Hyundai Kia Automotive Group, Hyundai Department Store Group, Hyundai Heavy Industries Group, and Hyundai Development Group. Following the conception, Hyundai Group's business remains manufacturing of elevators, container shipping services, and tourism.
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