HYUNDAI__The Korean Giant__History Part 1

Founder, Chung Ju-yung, came from a poor farming background. He tried to run away three times before successfully finding his way to Seoul, after stealing his father’s cow and selling it, where he found employment in a rice shop, which he later acquired. Chung Ju-yung later started a delivery service from which he learned to repair his trucks which lead him to sell the delivery service and set up an auto repair shop in Seoul in 1940 which was known as “Ah-do Service” until 1946 when Hyundai Auto Service was established. Hyundai was successful repairing US military vehicles during the Korean War. The year after Chung Ju-yung established Hyundai civil works co. But in 1950 Hyundai Civil Works co. and Hyundai Auto Service were merged to form Hyundai Engineering and Construction co. In the same year Hyundai Transportation co. was established.
In 1967, Chung Ju-yung and his brother Se-yung Chung established Hyundai Motor Company. Hyundai only took six months from breaking ground until production ready, this was thanks to Chung Ju-yungs personal drive and determination which got him this far and would push him and his companies to success.  For the next eight years they gained valuable experience building Ford Cortina’s under licence for the South Korean market. Ford provided, along with blueprints and processes, training for Hyundai’s engineers.

 

Bibliography

http://www.telegraph.co.uk/news/obituaries/1327384/Chung-Ju-yung.html

santafemods.com/History/Hstory of Hyundai.html

http://worldwide.hyundai.com/WW/Corporate/CorporateInformation/History/index.html

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