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Hyundai (Korean pronunciation: [çj??nd?][1]) is a group of companies (or chaebol) founded 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 fifth largest automobile manufacturer by volume as of 2009, [1] and Hyundai Heavy Industries, the world's largest shipbuilder.[2] 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 not part of or connected 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.
Hyundai AutomobilesWith the recent trends in fuel economy and simplistic modernism in ideology from many consumers worlwide. Hyundai Motors has solidified re-imagined its brand. With models like the all new Hyundai Sonata and Hyundai Elantra that are edging the segments upwards from what most consumers would consider bargain vehicles. Hyundai Motors has taken the bold direction of re-inventing several segments, with the redesign of the 2011 Hyundai Accent (sub-compact), 2011 Hyundai Elantra (compact), 2011 Hyundai Sonata (midsize size sedan), 2011 Hyundai Genesis (entry luxury full size sedan), and the Hyundai Equus (full size flagship model). Hyundai Motors has set their targets on makers such as Toyota, Honda, Lexus, BMW, and Mercedes Benz.