Finance and Insurance
Hyundai is a global conglomerate founded in Korea by one of the most famous businessmen in Korean history: Chung Ju-yung. The first Hyundai company was founded in 1947 as a construction company. Two of the best-known Hyundai divisions are Hyundai Motor Company, the world's fourth largest automobile manufacturer by volume as of January 2011, and Hyundai Heavy Industries, the world's largest shipbuilder.Other companies currently or formerly controlled by members of Chung's extended family may be loosely referred to as a part of the Hyundai chaebol. Chung was the CEO and directly in control of the company until the end of his life. Today many companies bearing the name Hyundai are not part of or legally connected to the Hyundai Group. These companies include Hyundai Kia Automotive Group, Hyundai Department Store Group, Hyundai Heavy Industries Group, and Hyundai Development Group. However, all of the named companies are run by Chung's sons or their heirs.