These days it’s really hard to be successful in the business world without knowing at least some foreign languages, or at least some vital expressions in those languages, so as a small service, we’d like to introduce you to a couple of words in Korean: Chaebol – meaning a large conglomerate or group of companies, and the Korean word for modernity which translates roughly to Hyundai.
With such far reaching abilities and multiple areas of expertise it is no surprise that you know Hyundai, the only surprise is that you have yet to invest in Hyundai binary options, but you may need some proper background information prior to making your investment, and that’s fine, we’re here to be of service.
One of Korea’s largest employers and companies was founded in 1947 by Chung Ju-yung, early on; the company dealt entirely in construction, and began making headway within the country by taking on increasingly larger projects.
By 1965 the company began its first foreign operations in south East Asian countries such as Thailand, Vietnam and Guam, as the company was growing, the Korean government began giving it assistance and support in projects within the country, recognizing its increasing vitality and importance to South Korea’s economy.
In 1967 the company made its initial step into becoming a full-fledged conglomerate by establishing Hyundai motors, beginning production on a completely Korean vehicle in 1975, Hyundai continued to diversify itself by adding further businesses to its profile, such as a shipyard that they quickly turned into Hyundai heavy industries, specializing in shipbuilding, a trading company, elevator and home electronics and logistics companies soon followed giving Hyundai and incredible array of marketable products and fully owned companies.
When the Asian financial crisis of 1997 struck South Korea, Hyundai took severe losses and was forced into a process of complete overhaul on the majority of its companies and subsidiaries, while the restructuring began in 1995, on Hyundai’s own accord, the crisis caused it to be completed much earlier than originally planned.
Until the restructuring Hyundai had grown to such an extent that it had over 60 subsidiaries was active in a variety of fields, which essentially forced a simplification of its business model, the result of the crisis and company wide reorganization was the creation of a few smaller companies, each with a separate management and expertise, signaling the end of the actual Hyundai Chaebol.
Most notably, the following companies were created:
Hyundai Heavy industries – specializing in ship and engine building for military and businesses alike, the largest company of its kind in the world.
Hyundai motor group – A vehicle manufacturer, the largest in Korea, and trailing only Toyota in the Asian market, a company that has since turned into a Chaebol in itself, by purchasing a few smaller companies, most notably Kia motors.
Hyundai Engineering & Construction – A company dealing with construction of small, local projects as well as large country wide construction projects such as highways and entire city planning.
There were a number of other companies to deal with other assets, and smaller subsidiaries were brought under the wing of larger ones to help maintain their viability, other companies have also since been established, purchased and created to deal with various needs and opportunities, assuring that the Hyundai name, while not being indicative of a single entity as it once did, will still live on.
With so many assets under management, and such widespread areas of creation under its wing, and contributing to its income, we cannot really advise you on how to go about trading Hyundai binary options, as there are quite a few areas for you to focus – you could choose to focus on specific areas or companies, such as heavy industries and analyze those, or you could seek out information on the company as a whole, but whatever you do, make sure you do not neglect investing in Hyundai binary options, which regardless of how it operates still has a longstanding history of success.