Hyundai Automotive Group has moved into a coveted second-ranked Korean business group position. For decades, prior to the 2000 voluntary split up of the family-controlled conglomerate into five primary groups, the Hyundai Group had maintained the nation’s number one position. The automotive group, controlled by the Hyundai group founder’s son, Chung Mong Koo, has worked to re-position his firm from its initial fourth place ranking. Hyundai AG acquisition of the Hanbo Steel is indicative of Chung Mong Koo’s strategy to strengthen and expand Hyundai AG.
Recently, the car group’s ranking was automatically raised a notch after number two LG Group was split into two holding companies-LG Corp. and GS Holdings on July 1, 2004. The current top conglomerate is Samsung.
Hyundai AG has 28 affiliates, including its flagship Hyundai Motor, the nation's largest automaker.
No comments:
Post a Comment