Record Sales and the Galloper shinhwa
Hyundai Precision’s bold sales and promotion strategy continued to prove highly successful. In fact, within the company the Galloper shinhwa myth and legend spread… fueled by an uncanny five-fold increase in sales between 1997 and 1998. Within a broader context and adding to the legacy this success occurred during the devastating 1997 Asian economic meltdown, commonly referred to as the IMF Crisis. In contrast at the same time the highly anticipated launch of the Samsung’s automotive division, in an alliance with Nissan, proved dismal.
By 1999, Chung Mong Koo would assume control of Hyundai Motor Company. In addition to his leadership role of HMC, plus another five of the Group’s companies including Hyundai Precision, the car division also acquired Kia Motors. Soon after to consolidate, Galloper production was moved to Hyundai Motor.
By 2000, amid a restructuring of the Hyundai Motor Company and its affiliates, Precision’s name was changed to Hyundai MOBIS.
In 2003 after a successful 12-year run, the Hyundai Terracan succeeded the Galloper.  What does remain is the Galloper shinhwa, a legacy we see today into bold and new ventures by Hyundai leadership with Genesis Motors Company in the premium luxury car segment and a wide range of Hyundai eco-cars.
About the Author
Know by many as “ The Hyundai Whisperer,” Don Southerton has a life-long interest in Korea and the rich culture of the country. He has authored numerous publications with topics centering on workplace culture, new urbanism, emerging premium and upmarket trends, and entrepreneurialism.
He is a frequent contributor to the media (WSJ, Forbes, CNN Fortune, Bloomberg, Automotive News, Korea Times, Korea Herald, Yonhap, Korea Magazine, eFM TBS, FSR and The Economist on Korea facing business and culture.  
He heads Bridging Culture Worldwide a Golden, Colorado based company that provides mentoring, strategy, and consulting worldwide to Korea-based global business.
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© BCW 2016
Photographs courtesy of Hyundai MOBIS  Seoul, South Korea