Chung Ju Yung was the founder of the Hyundai chaebol (family-owned conglomerate), which began with the Hyundai Engineering & Construction Company in 1947. He had no formal education after grade school, when he ran away from home, taking the family cow for funds, and began working as a bicycle delivery boy in Seoul. Hyundai's first success was in construction, and the firm was heavily involved in rebuilding Korea following World War II, and the business was overseen by Chung until his death in 2001. Subsidiaries include Hyundai Motor Company (est. 1967, originally to build Fords), Hyundai Heavy Industries Company (1973), and Hyundai Electronics (1983). Chung was known for his temper, frequently throwing ash trays or books at underlings who displeased him, and for his tightfistedness -- even after becoming a multi-billionaire he lived in a small house built almost entirely with leftover materials from his construction firm.…show more content… Hyundai Motor Company is one of the most well-known companies of the Hyundai group and it is one the four largest automakers in the world as far as selling units is concerned. Hyundai Motor Company’s headquarters are situated in Seoul, South Korea.
Hyundai Motor Company History
Hyundai was founded in 1947 but Hyundai Motor Company was founded in 1967 and launched its first model Cortina in 1968. The model was in collaboration with Ford Motor Company. Hyundai released the first Korean car named Pony in 1975, in 1983 Pony was exported to Canada. Pony became one of the top selling cars in the Canadian car market at that time.
Hyundai Motor Company started selling cars to the United States of America in 1983. Hyundai cars were very affordable for Americans and thus the company became very successful. This success made Hyundai manufacture a variety of models and more units as well. Hyundai started this operation with the launch of midsize car Sonata in