Hyundai-Kia Automotive Group Has Many Subsidiaries

I'm always curious of Hyundai-Kia Automotive Group subsidiaries, most of which directly support car production, parts, finance, and distribution.

Hyundai-Kia differs from most Korean conglomerates, like Samsung and SK, since they tend to concentrate on a few core businesses. But there are a few exceptions, in fact their ownership extends well past the 28 subsidiaries commonly cited as Hyundai-Kia Group firms. One report has the Hyundai-Kia involved in over 100 companies. This would also greatly add to the worth of the Chung Mong Koo and his family.

Some examples of unrelated Hyundai-Kia businesses.
One example, is Corentec, a medical venture company that produces a wide range of scientific instruments, such as artificial joints and spinal systems. Family ties are the reason why this bio venture ended as part of the group.

Sun Doo-hoon, a son-in-law of Hyundai-Kia chairman Chung Mong-koo, bought shares as part of an investment and turned it into a Hyundai subsidiary.

Hyundai also has two subsidiaries that publish books and other study materials for Chongno Hakwon, one of the largest private institutes for college entrance exam preparation. According to Hyundai officials, Chongno Hakwon established the two firms to publish books for teachers and help manage its operations.

The two firms became subsidiaries of the largest automaker in South Korea after Hyundai Capital president Chung Tae-young, another of Chung's son-in-laws, inherited a 57 percent stake in Chongno Hakwon from his late father-in-law, Chung Kyung-jin.

Hyundai also set up a subsidiary for its subway-related business after its affiliate Rotem, which manufactures subway cars, set up a joint venture to build metropolitan subway lines in Seoul in February. Rotem is leading a project to develop a magnetic levitation (maglev) train system by 2007, taking charge of manufacturing train cars and developing a signaling system.

To conclude, the Hyundai-Kia Group tends to stay focused on it's 20 plus car-related core businesses. Nevertheless, it has controlling interest in over 100 Korean firms...all adding to the Chung family's assets.