Hyundai Full Form Name
Full
Form of Hyundai:
“Modernity”
in Korean Language
The
term Hyundai does not have a Full Form. It means “modernity” in the Korean
Language. The Hyundai Group was basically a conglomerate industry. Its
headquarters were in Seoul, situated in South Korea. It was founded in the year
1947 by Chung Ju-Yung. It was started as a construction firm. Chung directly
controlled this company till the year 2001. Chung expired in the year 2001.
After the death of Chung and the financial crisis
of East Asia in the year 1997, there was a major breakup and reconstruction of Hyundai.
Due to this, the business of the Hyundai Group encompassed only tourism,
elevator manufacturing, and container shipping services. Presently, many
companies that bear the name ‘ Hyundai’ are not connected to this group
legally.
Such companies include Hyundai Development
Company, Hyundai Department Store Group, Hyundai Motor Group and Hyundai Heavy
Industries Group. The majority of the former subsidiaries of this group are run
by Chung’s relatives. If it is considered that a single wide family business is
formed by combining these companies, then it will be the largest company having
enormous political and economic power in South Korea.
Hyundai consisted of more than sixty subsidiary
companies by the year 1990. It was actively operating in a wide range of
activities like shipbuilding, financial services, chemicals, automobile
manufacturing, heavy industry, electronics, and construction. During the same
period, the annual revenue of this group was nearly ninety billion dollars and
had nearly two hundred thousand employees.
Hyundai Motor Company manufactures vehicles
branded by Hyundai. Its headquarters is in Seoul, situated in South Korea. The
largest facility of manufacturing automobiles in the world is operated by
Hyundai. It produces nearly two million cars every year. There are nearly
seventy-five thousand people employed in Hyundai all over the world.