- Hyundai Group was a multinational chaebol headquartered in Seoul, South Korea
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Murad Cars Co. | Hyundai facts
- It was founded by Chung Ju-yung in 1947 as a construction firm and Chung was directly in control of the company until his death in 2001
- Following the 1997 East Asian financial crisis and Chung's death, Hyundai underwent a major restructuring and break-up, which reduced the Hyundai Group's business to encompass only container shipping services, the manufacturing of elevators, and tourism
- Today, most companies bearing the name Hyundai are not legally connected to Hyundai Group
- They include Hyundai Motor Group, Hyundai Department Store Group, Hyundai Heavy Industries Group and Hyundai Development Company
- However, most of the former subsidiaries of the Hyundai conglomerate continue to be run by relatives of Chung
- If these companies were considered as forming a single broad family business, then it would remain the largest company in South Korea with enormous economic and political power in the country
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