HYUNDAI

Hyundai



Hyundai

Organization History

Hyundai's history is linked to that of its founder, Chung Ju-yung (1915 - 2001). Farmer's son, he left his family 16 years and several small, practical works to survive: maneuver, rice dealer and repairer of cars. He founded in 1947 Hyundai Engineering & Construction (Hyundai means "modernity" in Korean), which will remain the center of the group. After the Korean War, Americans from Ford put him in car repairs and construction of military barracks for the army of the United States. The year 1960 was conducive to Chung Ju-Yung putting his talent to Korea's General Park Chung-hee. He was the builder of the highway from Seoul to Pusan in 1968. He started shipbuilding, where excellent Koreans. The shipyards became the largest in the world, including those of Ulsan. In 2006, Hyundai became the largest shipbuilder by value production (Schmitt, Bertel, 2011).

Hyundai Motors was established in 1967. The company produced its first car 100% Korean in the year 1973, the Pony. Chung Ju-Yung immediately understood the economic importance of public works and construction in the Middle East, where South Korea imports most of its consumption of oil. Hyundai was chosen several times to carry out major infrastructure projects in the Middle East (Schmitt, Bertel, 2011).

In 1983, Hyundai Electronics was created with a view to diversification. It carried out activities in priority markets of precision engineering, petrochemicals and robotics. The group also created a subsidiary; Hyundai Asan specialized in co-operation projects between South Korea and North Korea. After buying the brand Kia in 1998, Hyundai Motor is now the 4th car manufacturer, with 3.7 million vehicles sold worldwide (Schmitt, Bertel, 2011). First Korean car manufacturer, Hyundai became the country's largest employer with 170,000 workers and second to Samsung for sales (Schmitt, Bertel, 2011).

Empire Hyundai, held primarily by Chung family, because of its leaders (Ju-Yung until 2000, and Chai-Kwan and recently Mong-Koo) men among the world's richest and probably the richest of South Korea. Hyundai is also an inescapable legislative sponsor; Chung Ju-Yung has always supported those in power, regardless of the label policy of the government, greatly contributing to the various campaigns, contributions recognized with the award of contracts and tenders. That did not stop Chung Ju-Yung, entrepreneurial freedom fighter against the state and treasury, to attend the presidential election of 1992 and get 16% of the vote (Schmitt, Bertel, 2011). In 2006, following an investigation by the South Korean government, the CEO of Hyundai Chung Mong-Koo was accused of embezzlement and corruption (Schmitt, Bertel, 2011).

While many Koreans agree that Hyundai has enabled Korea to become a major Asian dragon, the company policy was hardly social. The heavy tribute paid by workers and unions are responsible for the success of the company (Schmitt, Bertel, 2011). Hyundai Motor has had ten social conflicts in 2006 at the initiative of the trade union confederation KCTU, which would have driven in the direction of the losses totaled over $ 1.2 billion (Schmitt, Bertel, 2011).

For over 30 years, the electronics division of the Korean ...