Hyundai Corporation
Hyundai Corporation is a South Korean company founded in 1976 as part of the Hyundai chaebol. It is composed of five divisions: Automobile and Electrical Equipment, Ship and Machinery, Steel, Brand Licensing and Commodities, and Natural Resources. These are supported by two departments: Financial Management and Corporate Planning, and Personnel Management.
It is a general trading company providing export and import services with a wide variety of products including marine vessels, industrial plants and machinery, commercial automobiles and rolling stock, steel, chemical products, and general commodities.
Hyundai Corporation owns Qingdao Hyundai Shipbuilding in China. It also owns in partnership with POSCO Pos-Hyundai Steel (steel trading & coil service center) at Irungattukottai near Chennai, India.
It has 32 worldwide offices.[citation needed].
In December 2009, Hyundai Heavy Industries (once a sibling company in Hyundai) purchased a 50% plus-one-share majority stake in Hyundai Corporation, and installed new management on January 1, 2010.[citation needed]
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