Hyundai’s Founding Chairman
Chung Ju-Yung was born in North Korea in 1915 as the eldest son of a poor peasant farming family. At the age of 18, he set off for good to Seoul with hopes of finding a better life.
Hyundai – An Overview
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Motor Group, with more than two dozen auto-related subsidiaries and affiliates. Hyundai Motor — which has seven manufacturing bases outside of South Korea including Brazil, China, the Czech Republic, India, Russia, Turkey and the U.S. — sold 4.06 million vehicles globally in 2011. Hyundai Motor, which employs over 80,000 worldwide, offers a full line-up of products including small to large passenger vehicles, SUVs and commercial vehicles.
A Look Back – Hyundai’s Entry into the U.S. Market
The timing of Hyundai’s entry into the U.S. market in 1986 was ideal. At that time, most automobile manufacturers had abandoned the entry-level market in favor of high-end, high-priced vehicles, leaving a large void in the market. First-time car buyers such as college students and young families were not able to find adequate, value-equipped cars that met their needs, yet were priced within their economic means.