Once a byword for cheap, Hyundai has grown in both sales and stature in the last decade or so, but what does its name mean? Find out here…
In Korean, Hyundai is written as 현대 and is pronounced hyeon-dae, which translates to “modern”.
Hyundai was founded in 1947 as a construction company by Chung Ju-yung, who virtually controlled the conglomerate or chaebol until his death in 2001. Hyundai Motor was founded in 1967.
The Hyundai conglomerate once made everything from household goods, elevators and electronics to cars, buildings and ships. It also had steel factories, banks and department stores. The chaebol was largely broken up in the early 2000s after the Asian financial crisis.
