[정주영 타계 20주기] The late Hyundai has grown into a global company with an asset of 300 trillion won

Enter 2021.03.20 06:00

On the 21st, Asan Chung Ju-young, the honorary chairman of Hyundai Group, celebrates the 20th anniversary of the death of the Hyundai Group, and the growth of the Pan-Hyundai family is refocusing. Before the division into the’Prince’s Orchid’ in 2000, Asan’s Hyundai Group had 16 affiliates and assets of 31,723 trillion won. Twenty years later, Pan-Hyundai has grown into a global company that encompasses major industries such as automobiles, shipbuilding, construction, distribution, materials, and finance with an asset of 300 trillion won.

Among the pan-modern enterprises Hyundai Motor Company (005380)The group’s growth is definitely outstanding. In March 2000, Honorary Chairman Chung Ju-young tried to appoint his fifth son, the late Chairman Chung Mong-hun, as the successor, and Chung Mong-koo, the honorary chairman of Hyundai Motor Group, opposed this and separated from the Hyundai Group with 10 automobile affiliates.

Since then, the Hyundai Motor Group has continued to grow at high speed for 20 years. Last year, the company ranked 5th in the world in terms of total vehicle sales after Toyota, Volkswagen, Renault Nissan, and General Motors (GM). Hyundai Motor Group sold 4.49 million cars worldwide last year.

When it was separated from the Hyundai Group, its assets were 31,723 trillion won, but last year it grew 8 times in 20 years to 248 trillion 61.2 billion won. Last year, the company recorded KRW 103 trillion in sales, KRW 2,394.7 billion in operating profit, and KRW 1.422.4 trillion in net profit, respectively.

At the time of division, the ranking of large-scale business groups was 5th after Samsung, Hyundai Group, LG, and SK. Currently, it maintains second place after Samsung Group.

Since last year, as Chairman Eui-sun Eui-sun, the son of Chairman Chung Mong-koo, took office, the transition to a future mobility company is also accelerating. In the electric vehicle sector, it ranked fourth in global sales last year, and is expanding its business area to robots and UAM (city center air mobility), etc., away from traditional automobile companies.

Hyundai Motor Group was the parent of Hyundai Group in 2011. Hyundai E&C (000720)It is evaluated that it has secured the legitimacy of Hyundai Group by taking over. Hyundai Mobis (012330), Hyundai Steel (004020), Hyundai Card, Hyundai Motor Securities (001500), Hyundai Rotem (064350), Kia Motors (000270)There are 55 subsidiaries alone. The business community is evaluating that the Hyundai Motor Group has surpassed Hyundai Group’s global status in the past.

The Hyundai Heavy Industries Group, under the chairman of the Asan Foundation’s 6th son Chung Mong-joon, has also grown into a global company. Hyundai Heavy Industries Group is the 9th largest business group with sales of 48 trillion won with 30 affiliates. In the field of shipbuilding, it remains unchanged as the world’s No. 1 Daewoo Shipbuilding & Marine Engineering (042660)If it takes over, it will leap to the 7th place in the business world.

Total assets, which were 11 trillion won in 2002, separated from the Hyundai Group, grew to 75 trillion won at the end of last year. Here is the final stage of the acquisition Doosan Infracore (042670)If it is incorporated by, the total assets will rise to 81 trillion won at once. This is a scale that exceeds POSCO (total assets of 80 trillion won), the sixth place in the re-affiliation.

Hyundai Heavy Industries Group did not settle for the shipbuilding field, but expanded its scope to related businesses such as oil refining and construction equipment. Recently, led by Chairman Chung Mong-joon’s son Chung Ki-sun, vice president of Hyundai Heavy Industries Holdings, is actively investing in new growth businesses such as robots, artificial intelligence (AI), and hydrogen.

3rd son Chung Mong-geun, honorary chairman Hyundai Department Store (069960)The group is also showing remarkable growth in the distribution sector. As the 21st largest business group with sales of 20 trillion won, it is reborn as a general distribution company that encompasses the fields of fashion, living, and construction materials. Honorary Chairman Chung Mong-geun resigned from the front line of management in 2006, and since then, the eldest son, Chairman Ji-seon Ji-seon, is leading the group.

The Hyundai Group, which took over from the rivalry, sold off Hyundai Securities (now KB Securities), Hyundai Logistics (now Lotte Courier), and Hyundai Merchant Marine (now HMM) due to a liquidity crisis and fell into a mid-sized group with sales of 3 trillion won. Hyundai Group owns 11 affiliates with Hyundai Elevator as a holding company.

In addition, there are HDC Group, KCC Group, and Halla Group, led by the younger brother and nephew of Honorary Chairman Joo-Young Chung, as’Bangye’ of the Beomhyundai family.

In celebration of the 20th anniversary of the death of Chairman Chung Ju-young, the Pan Hyundai family holds a variety of memorial events. The’Asan 20th Anniversary Commemoration Committee’ will hold a memorial photo exhibition in the lobby of the Hyundai Motor Group Gye-dong building in Seoul from the 22nd to April 2nd under the theme of’Youth Jung Ju-young, passing through the times’. The Hyundai Department Store Group will hold a memorial exhibition under the theme of’Indomitable Challenge Spirit’ at the headquarters of Hyundai Department Store in Seoul from the 17th to the 26th.