Hyundai Engineering & Construction

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Hyundai Engineering & Construction Co., Ltd.
Type private company
Industry Engineering, construction
Founded 1947
Headquarters Seoul, South Korea
Area served Worldwide
Key people Soo Hyun Jung (President & CEO)
Hyundai Engineering & Construction
Hangul 현대 건설
Hanja 現代建設
Revised Romanization Hyeondae Geonseol
McCune–Reischauer Hyŏndae Kŏnsŏl

Hyundai Engineering and Construction Co., Ltd. KRX: 000720 (abbreviation: HDEC) is a major construction company in South Korea which has carried out projects not only in Korea but around the world. The company was founded by Chung Ju-yung in 1947 as the Hyundai Civil Works Company, and was a major component of the Hyundai Group. Hyundai Construction and Hyundai Engineering merged in 1999.[1]

Hyundai Construction played a major role in the importation of Korean labourers to the Middle East to work on construction projects there in the 1970s and 1980s; in the decade following 1975, when Hyundai signed their first contract in the region, for construction of a shipyard for the Iranian Navy near Bandar-e Abbas, 800,000 Koreans went to work in Saudi Arabia, and another 25,000 went to Iran; Hyundai was their largest employer.[2][3]

The company was under creditors' management (Korea Exchange Bank being the largest creditor) from 2001 to 2006, as Hyundai Group was split into several entities.[4] As of March 2007, HDEC is the main shareholder of Hyundai Merchant Marine, which is the de facto holding company of Hyundai Group. Hyundai Group and Hyundai Motor Group (another spin-off from Hyundai Group) are both vying to purchase HDEC.[4]

Hyundai Motor Group is a new owner of Hyundai Eng. & Const.,co.,ltd in 2011 by Korean banks' decision after defeating Hyundai (merchang maarine: the 2nd largest shipping co., in Korea after Hanjin shipping ) Group.

Key landmark construction sites[edit]

  • Kyeong-bu(Seoul-Busan) express way
  • North Han river, Soyanggang Dam, multipurpose Dam
  • Seoul Gangnam apartment introduction in Korea during 1970
  • Hyundai Ulsan shipyard
  • Hyundai Motor Ulsan complex
  • Ulsan Industrial complex
  • Posco Giant Pohang and Gwangyang(South-west of Korean peninsula) complex.
  • Jubail Industrial harbour construction
  • Singapore Suntec tower project
  • Ulsan Grand Bridge
  • Geogeum Grand Bridge
  • Masan Changwon Grand Bridge

Major Hyundai Entities (formerly Hyundai Group)[edit]

Hyundai E&C Group[edit]

Notable people[edit]

The former president of South Korea, Lee Myung-bak, was a former CEO of Hyundai Engineering and Construction.

See also[edit]

References[edit]

  1. ^ 현대건설, 엔지니어링 합병
  2. ^ Seok, Hyunho (1991). "Korean migrant workers to the Middle East". In Gunatilleke, Godfrey (ed.). "Migration to the Arab World: Experience of Returning Migrants". United Nations University Press. pp. 56–103. ISBN 9280807455. 
  3. ^ Steers, Richard M. (1999). Made in Korea: Chung Ju Yung and the Rise of Hyundai. United Kingdom: Routledge. pp. 109–117. ISBN 0-415-92050-7. 
  4. ^ a b [1]

External links[edit]