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Lock & Lock, Hyundai, Woori Finance: South Korea Equity Preview



The following companies may have unusual price changes in South Korea After the North Korean Attacked to the South Korean Island. Stock symbols are in parentheses, and share prices are from the previous close.

The Kospi index rose 0.1 percent to 1,927.68.

Daewoo Shipbuilding & Marine Engineering Co. (042660 KS): The shipbuilder is likely to win a $4 billion order to build 20 container vessels for A.P. Moeller-Maersk A/S, Korea Economic Daily reported yesterday, citing industry officials it didn’t identify. Daewoo fell 1.7 percent to 28,200 won.

Hyundai Engineering & Construction Co. (000720 KS): Creditors of the builder asked Hyundai Group to provide more proof of how it will fund its planned acquisition of Hyundai Engineering, according to an e-mailed statement yesterday by Korea Finance Corp., the biggest shareholder of the South Korean builder. Hyundai Engineering climbed 4.3 percent to 63,300 won.

Lock & Lock Co. (115390 KS): The company was rated new “buy” by Samsung Securities Co., with a target price of 46,000 won. The maker of plastic food containers rose 3.2 percent to 38,450 won.

Maeil Diary Industry Co. (005990 KS): The milk maker will work with Sapporo Holdings Ltd. to sell Sapporo’s beer in South Korea, the Japanese brewer said yesterday in a statement. Maeil shares gained 2.4 percent to 19,600 won.

Woori Finance Holdings Co. (053000 KS): A group led by employees of Woori will submit a preliminary bid as the government privatizes the company, Maeil Business Newspaper reported yesterday, citing a Woori official it didn’t identify. Vogo Fund may separately bid for Woori, the report said. Woori rose 4.7 percent to 14,450 won.

To contact the reporter on this story: Jun Yang in Seoul at /Editor  :Darren Boey at


Hyundai Steel's Dangjin plant brings green approach to steel

Hyundai Steel’s new blast furnace (right) at the company’s plant in Dangjin, South Chungcheong Province. (Hyundai Steel)

With the second blast furnace kicking in, the annual production capacity of Hyundai Steel’s integrated steelworks in Dangjin, South Chungcheong Province has doubled to 8 million tons.

While the Dangjin plant allowed Hyundai Steel to begin producing steel from the raw materials, which according to experts offers a higher profit margin than using electric arc furnaces, the facility has larger implications for Hyundai Motor Group as a whole.

By adding blast furnaces to its operations, Hyundai Motor Group was able to complete what it calls “resource circulating business structure” that goes from molten iron to automobiles, and from scrap back to unprocessed steel.

Under the resource circulating business structure, steel produced at the Dangjin plant will be processed by Hyundai Hysco into cold-rolled products, which will then be used in Hyundai Motor Co. and Kia Motors Corp.’s vehicles.

The steel from scrapped vehicles will then be melted down at Hyundai Steel’s electric blast furnace and used to produce construction materials, which will be used by the group’s construction arm Amco.

However, Hyundai Steel’s move upstream in the steel industry comes at a time when environmental concerns are rising.

The steel industry has long been considered to be one of the more serious polluters, and the use of coal as a raw material in steelmaking with blast furnaces highly carbon intensive.

Hyundai Steel’s Dangjin plant, however, was built with such concerns in mind from the designing process.

In building the plant, the company installed the world’s first enclosed raw material processing system as part of its efforts to make it a “world-class eco-friendly steelworks.”

In Hyundai Steel’s system, all movement of materials from ship to processing facilities occur on enclosed conveyor belts. In addition, the materials are stored in dome-shaped stores cutting off all contact with open air, addressing the problem of dust from coal and other materials ― a major pollutant associated with steelworks ― at the source.

According to the company the enclosed domes also help save space in storing the materials.

Hyundai Steel estimates that the dome stores are about 2.5 times more efficient in terms of iron ore storage per unit area.

In addition, Dangjin plant’s enclosed storage facilities also allow the company to save fuel, which in turn helps reduce its carbon footprint.

According to Hyundai Steel, the facilities maintain the water content of the materials constant at between 6 to 8 percent. In contrast, materials stored outside can contain up to 14 percent water during the rainy season, and this water needs to be evaporated leading to additional energy costs.

However, the effect of eco-friendly technologies is not limited to the more obvious benefits of reducing pollution, but extends to the productivity of companies and nations.

According to a report by Oh Dong-hyun of the Samsung Economic Research Institute, Korea ranks third among members of the Organization for Economic Cooperation and Development, with an average annual growth rate of 4.84 percent.
However, the country ranks 22nd in terms of green productivity, which takes into account the effects “non-economic” by-products, such as greenhouse gases, have on the economy, among the 32 OECD member nations.

According to the SERI report, green management’s core consists of three Rs; reduce, replace and recycle.

In addition to the groundbreaking enclosed raw material storage system, Hyundai Steel’s Dangjin plant has a number of features for meeting various areas of the three Rs of green management.

According to the company, the Dangjin plant is capable of recycling almost 100 percent of the by-products of steel making.

The company said that nearly all of the coal tar and sulfur produced from processing the gas generated in producing coke is used to produce a range of chemicals including benzene and toluene, while the slag is used in blended cement and used to form roadbeds and as structural material in buildings.

In addition to recycling by-products, the company has a number of measures for processing waste water, and monitoring and reducing emissions of sulfur and nitrogen oxides.

According to the company, gases generated during steel making at the Dangjin plant under go a two-step process to bring sulfur and nitrogen oxides content to well below the legal limits.

Waste water generated at the plant is subjected to chemical and biological processing to maximize recycling, while the unused processed waste water is returned to the sea 300 meters away from the coastline to minimize pollution.

By Choi He-suk (

Hyundai Motor sales surge in Latin markets

Hyundai Motor Co., Korea’s largest automaker, said Tuesday its sales in South American nations have surged nearly 29 percent this year, already surpassing the figure for all of 2009.

In the first 10 months of this year, the company sold 186,206 vehicles in the region, up 28.7 percent from the same period last year. The company sold 180,355 units in the entire year of 2009.

Sales in Argentina nearly doubled as they rose 91.9 percent from a year earlier while shipments in the Dominican Republic jumped 78.1 percent on-year and those in Puerto Rico 76 percent, according to company officials.

Hyundai’s market shares in six different countries, including Ecuador, Chile and Panama, have also exceeded 10 percent.

“Recording an over 10 percent market share in so many countries of South America where the company does not have a production facility means it is doing extremely well,” a company official said.

In Panama, Hyundai sold 6,181 vehicles in the January-October period, trailing Toyota with 7,052 units for the spot of the top-selling foreign brand there this year.

“If Hyundai does become the top-selling brand in Panama this year, it would have a significant meaning as it will be the first time for Hyundai to become the top seller in any South American nation,” the company official said.

Currently, South America accounts for only 6.2 percent of Hyundai’s global sales, but the company is planning to build a plant in Brazil, as early as from next month, as it believes the region will soon become one of the largest markets in the world.

Meanwhile, Hyundai Motor Co. and affiliate Kia Motors Corp. have surpassed Toyota Motor Corp. as the largest Asian carmaker in Europe this year after the Japanese company’s sales tumbled on recalls, according to data released by the European Automobile Manufacturers’ Association

The two firms boosted Europe sales 4 percent in the first 10 months to 521,369 vehicles, . Toyota sales, including its Lexus premium brand, plunged 17 percent to 511,754.

The Seoul-based group has withstood slumping European auto demand this year. The carmaker has also won market share in the U.S. from Toyota after the Toyota City- based company recalled more than 8 million vehicles worldwide for repairs related to unintended accelerations.

“Hyundai and Kia have clearly benefitted from Toyota’s massive recalls,” said Ahn Sang-joon, an auto analyst at Tong Yang Securities Inc. in Seoul. “They have also expanded their model lineups in European markets giving more choices to consumers.”

Overall auto sales in Europe have fallen 5 percent this year to 11.6 million, according to the automakers group. Nissan Motor Co. has posted the biggest increase among major brands, with sales climbing 13 percent.

The Korean automakers’ European sales may climb even more next year as they are preparing to introduce new models specifically designed for the region, said Kim Byung Kuk, a Seoul-based analyst at Daishin Securities Co.

Hyundai fell 4 percent to close at 180,500 won in Seoul trading today, while Kia dropped 2.3 percent to 50,600 won. Hyundai owns 34 percent of Kia. Toyota gained 1.1 percent to 3,300 yen in Tokyo.


(From news reports)


Korea FSS Investigate Hyundai Group 5.5 Trillion Fundraising


The Financial Supervisory Service on Tuesday expressed its intention to indirectly intervene in Hyundai Group’s planned takeover of Hyundai Engineering and Construction by probing several speculations.

Meanwhile, Hyundai Group, the preferred bidder for Hyundai E&C, said in a statement that it would file lawsuits against people who tried to hinder the acquisition by spreading groundless rumors.

“We are not in a position to directly intervene in the coming transactions between Hyundai Group and creditors of Hyundai E&C,” an FSS official said. “But we have the right to inspect financial soundness of financial firms which offered takeover funds to Hyundai Group.”

The financial watchdog is questioning the process under which the Tong Yang Securities ― despite its cash flow trouble ― provided Hyundai Group with 800 billion won ($714 million).

Furthermore, the FSS and the Korea Exchange are investigating into whether the group violated stock disclosure rules.

Hyundai Group has been suspected of choosing not to make public their borrowing funds from a French bank. If the fundraising is based on stock-collateralized loans, the group should have made a disclosure (before investors), according to Korea Exchange stipulations.

Concerning the speculations and the FSS’s move, Hyundai Group made it clear that it was considering legal proceedings.

The group mentioned the financial regulator, several figures of Hyundai E&C creditors, Hyundai Motor, and the union of Hyundai Securities, criticized them for issuing baseless rumors.

“The situation that the FSS is probing figures engaging in the legitimate takeover bid is very inappropriate,” the group said.

The group also said it had already offered the creditors details which could dispel speculations, adding. “Relevant rules stipulate that nobody is allowed to issue questions as the creditors have already screened our fundraising process.”

Amid the situation, Hyundai E&C creditors including Korea Exchange Bank, is planning to delay signing a memorandum of understanding with the group. The MOU signing had been scheduled on Wednesday.

Last Tuesday, the group beat bidding rival Hyundai Motor Group to become the preferred bidder for Hyundai E&C, the nation’s largest builder in terms of sales.

Hyundai Group’s bid was reportedly a whopping 5.5 trillion won for a 35 percent stake. It was double the market value of the builder.

More importantly, the bid was 4 trillion won more than the cash held by Hyundai Group’s three main listed units ― Hyundai Merchant Marine, Hyundai Elevator and Hyundai Securities.

Hyundai E&C was spun off from the group after its bankruptcy in 2000. The builder eventually turned itself around after court receivership. In 2009, the company posted a record profit.


By Kim Yon-se (



Hyundai Engineering Implements IntergraphR SmartPlantR Enterprise Solutions for UAE Integrated Gas Development Project


Huntsville, Ala. (Vocus) November 16, 2010

Hyundai Engineering Co. Ltd. (HEC) has implemented Intergraph® SmartPlant® Enterprise for its work on the Integrated Gas Development (IGD) project in Abu Dhabi, UAE. The nearly US $9 billion project will significantly boost the Emirate’s offshore gas production to one billion cubic feet per day and is currently midway through its estimated 2013 completion.

For its role in the Habshan 5 complex offsite facilities at the IGD project, HEC used SmartPlant 3D for the engineering design and SmartPlant Foundation for data and document management. The Habshan 5 complex project entails the construction of the utilities and offsite facilities to support the increase of processing capacity for natural gas liquids.

SmartPlant 3D is the industry’s most advanced and productive next-generation 3D design system for the process and power industries including automated design capabilities. Customers using SmartPlant 3D gain 25- to 35-percent initial increases in productivity, and HEC has been able to more quickly meet the Habshan project schedules using the Intergraph software.

The rules-based design software also helps users to build safety into plants early in the design process, enforcing regulation and engineering standards to increase safety, productivity and quality of operations. SmartPlant 3D’s rules-based design capabilities aid too in the compliance with many of the world’s industry and safety standards organizations bodies.

Once the Habshan 5 complex is completed, HEC will use Intergraph’s SmartPlant Foundation data management solution to ensure the smooth handover of project data to the owner operator and enable it to manage millions of design data components over the lifecycle of the plant asset.

“As a longtime Intergraph SmartPlant solutions customer, we have had proven and dependable results on our previous projects,” said Myung-Su Han, general manager for the Technology & Innovation Development Office at HEC. “Now having experienced the increased productivity and accelerated project progress with SmartPlant 3D on the Habshan complex, we look forward to expanding its use on our future projects.”

Gerhard Sallinger, Intergraph Process, Power and Marine president, said, “HEC is one of the leading EPCs in the world and is well respected in the industries it serves. Its adoption of SmartPlant 3D in addition to the expanded use of Intergraph solutions for one of the world’s largest oil and gas projects underscores the value these solutions bring our customers and their clients.”

The ARC Advisory Group, a leading industry analyst firm, ranked Intergraph the No. 1 overall engineering design 3D software and process engineering tools (PET) provider worldwide and for the oil and gas industry according to its PET Worldwide Outlook Market Analysis and Forecast through 2013.

About Hyundai Engineering
Established in 1974, Hyundai Engineering Co., Ltd. has accumulated project experiences and technologies in more than 50 countries for the business area of Process Plant, Power & Energy Plant Infrastructure & Environmental, and Industrial Plant. Based on our vast experience and lessons learned, we have consistently emphasized on creating value for our clients.

Hyundai Engineering has demonstrated strong business performance for the last three consecutive years. Hyundai Engineering owes such remarkable results to its clients and business associates for their unreserved support and encouragement.

Today, Hyundai Engineering continues to strive to become one of the world’s top engineering firms. Equipped with determination, technology, and vision to become a Global Premier Engineering Partner, Hyundai Engineering will overcome any challenge that lies ahead and eventually meet client’s expectations.

About Intergraph
Intergraph is the leading global provider of engineering and geospatial software that enables customers to visualize complex data. Businesses and governments in more than 60 countries rely on Intergraph’s industry-specific software to organize vast amounts of data to make processes and infrastructure better, safer and smarter. The company’s software and services empower customers to build and operate more efficient plants and ships, create intelligent maps, and protect critical infrastructure and millions of people around the world.

Intergraph operates through two divisions: Process, Power & Marine (PP&M) and Security, Government & Infrastructure (SG&I). Intergraph PP&M provides enterprise engineering software for the design, construction, operation and data management of plants, ships and offshore facilities. Intergraph SG&I provides geospatially powered solutions to the public safety and security, defense and intelligence, government, transportation, photogrammetry, and utilities and communications industries. Intergraph Government Solutions (IGS) is an independent subsidiary for SG&I’s U.S. federal and classified business.

Intergraph is a wholly owned subsidiary of Hexagon AB, (Nordic exchange: HEXA B) and (Swiss exchange: HEXN). For more information, visit and

© 2010 Intergraph Corp. All rights reserved. Intergraph and the Intergraph logo are registered trademarks of Intergraph Corp. or its subsidiaries in the United States and in other countries. Other brands and product names are trademarks of their respective owners.


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Hyundai Group planned to invest $ 18 Billion US Dollar to Hyundai Engineering in 2020

Hyundai Group will invest 20 trillion won ($17.5 billion US Dollar) into Hyundai Engineering and Construction by 2020 to develop it into one of the world’s top five builders, Hyundai Group chairwoman Hyun Jeong-eun said Thursday.

Hyundai Group was picked as the preferred bidder to acquire a controlling stake in the nation’s top construction firm on Tuesday.

Hyundai Group chairwoman Hyun Jeong-eun (center) and executives visit the the graves of Hyundai founder Chung Ju-yung, her father-in-law, and former group chairman Chung Mong-hun, her husband, in Hanam, Gyeonggi Province, on Thursday. (Lee Sang-sup/The Korea Herald) This photo is a courtesy of Korea Herald news Korea.

“(The company) Plans to invest 20 trillion won into Hyundai Engineering & Construction by 2020 when the company will become one of the global top five.” Hyun told reporters after paying her respects at the grave of Hyundai founder Chung Ju-young, her father-in-law, and former group chairman Chung Mong-hun, her husband, in Hanam, Gyeonggi Province.

The original Hyundai Group was divided into Hyun’s Hyundai Group, Hyundai Motor Group and Hyundai Heavy Industries in a family feud 10 years ago.

Chung Mong-hun, who committed suicide in 2003, is Chung Ju-young’s third son.
Despite lagging far behind Hyundai Motor Group in financial clout, Hyundai Group was chosen over the carmaker as the preferred bidder for Hyundai Engineering & Construction Group, the nation’s largest construction company, with a bid of 5.51 trillion won.

Hyundai Group’s assets were valued at about 10.7 trillion won last year.
Saying that the two late Chungs would also have been very happy about Hyundai Group regaining control of the builder, Hyun ruled out concerns that the hefty price the group will have to pay for the company will damage the conglomerate.

“Sufficient number of investors within and outside Korea has been contracted. There is no need for concern,” Hyun said.

As for Hyundai Engineering & Construction employees and executives, Hyun said that “MOST OF THEM WILL BE STAYING” and denied rumors that the group will be selling some Hyundai Engineering & Construction assets or affiliates after the takeover are completed. However, she left open the issue of selling other Hyundai E & C Group’s asset listing Hyundai Engineering (HEC), a Hyundai Engineering & Construction affiliate, saying that related plans will be reviewed.

By Choi He-suk (

Hyundai Group wins the race for Hyundai E & C builder

Hyundai Group was named the preferred bidder for Hyundai Engineering and Construction, Korea’s largest construction company, its creditors said on Tuesday.
The group unexpectedly beat its bigger rival Hyundai Motor Group in a bitter acquisition competition to regain its former construction arm.

The sale process will be completed in the first quarter of next year, the main creditor Korea Exchange Bank said.

Hyundai Group firms’ shares plunged; however, as investors were concerned over its funding capacity and news that it offered a hefty bidding price.

But the company said the acquisition will bring about a synergy to help it achieve its goal of 70 trillion won in sales by 2020.

“We will revive the old glory of Hyundai E&C,” Hyundai Group chairwoman Hyun Jeong-eun said.

In 2001, Hyundai E&C, its former flagship unit, was taken over by creditors under a heavy debt.

Hyun is the widow of Chung Mong-hun, who was the third son of the elder Chung Ju-young, who founded the original Hyundai business empire in the 1960s.
The conglomerate was divided in a bitter family feud a decade ago. Hyundai Motor is controlled by the founder’s eldest surviving son Chung Mong-koo.

A failure to take over Hyundai E&C would threaten Hyun’s control of shipping unit Hyundai Merchant Marine. Hyundai Engineering &Construction Group has about 8.3 percent stake in the company.

Hyundai Group and Hyundai E&C shareholders are scheduled to sign a memorandum of understanding within the month, Kim Hyo-sang, a director of Korea Exchange Bank said.

“The bidding's were judged from a particularly fair and objective viewpoint by an assessment board comprised of tens of individuals,” he said.

“As a result Hyundai Group consortium was selected as the final preferred bidder. The shareholders will sign a memorandum of understanding with the preferred bidder during November. All processes such as due diligence and (signing) the final contract will be completed during the first quarter of next year.”
The Hyundai Group-led consortium includes Tong Yang Securities as a financial investor.

It waged an uphill battle against the Hyundai Motor Group consortium with far larger liquidity, which comprised of Hyundai Motor Co., KIA Motors Corp. and Hyundai Mobis Co.

Hyundai E&C creditors will hand over 34.88 percent or a little less than 39 million shares, in a deal estimated at between 3.5 trillion and 4 trillion won.
Hyundai Motor Group is said to have bid around 4.3 trillion won ($3.8 billion) for the builder. Estimates on Hyundai Group’s bid ranges from 4.8 trillion won to 5.5 trillion won. Neither side unveiled the value of the deal.

Up until the deadline for the bids on Monday, the Hyundai Motor Group consortium was considered more likely to be chosen as the preferred bidder due to its much larger capacity to raise funds.

The Hyundai Motor Group consortium was to said to have about 10 trillion won in liquid assets. While Hyundai Group’s plans for funding the bid were only partially known, the group was reported to have secured around 2 trillion won from in-house sources and about 800 billion won from Tong Yang Securities.

Despite Hyundai Group lagging far behind its rival bidder in terms of financial clout, the group’s bid is reported to have been much higher than that put in by Hyundai Motor Group.

By Choi He-suk (

Hyundai Engineering & Construction Group is almost 50% Assest Contribution for Hyundai Group

Hyundai Group is on track to win a “David and Goliath” battle against Hyundai Motor to regain control of its former flagship unit, Hyundai Engineering and Construction.
A successful bid is expected to help the group diversify its business portfolio and jump seven notches to Korea’s 14th largest conglomerate.

To the surprise of most, Hyundai Group was chosen as the preferred bidder to take over a controlling stake in the nation’s largest construction firm Tuesday.
Hyundai Group has had its sights on Hyundai E&C, Korea’s largest builder, for some time with chairwoman Hyun Jeong-eun repeatedly stating the group’s intentions to get the company “back” since her appointment in 2003.

Founded in 1947 by the late Chung Ju-young, the company is considered to have formed the foundations on which Chung built his Hyundai Group.

Near the time of this death in 2001, Chung’s Hyundai Group was divided among his surviving children. Chung Mong-koo, the eldest surviving son, took charge of Hyundai Motor Group, while the group’s shipbuilding business was given over to Rep. Chung Mong-joon of the Grand National Party.

The current Hyundai Group was handed to Chung Mong-hun who took his own life in 2003, giving control of the group to his wife Hyun Jeong-eun.

Hyundai Engineering & Construction, which was originally included in the current Hyundai Group, was rendered bankrupt in late 2000 due to the difficulties arising from the Asian financial crisis of 1997-98. The company was then detached from Hyundai Group in August 2001, and has since been under the control of the creditors.
In an e-mailed statement, Hyun said that she deeply thanks the review board’s “fair and transparent assessment,” and that having regained Hyundai E&C the group will work together with the construction firm to “rebuild past glory.”

The group’s desire to bring Hyundai E&C back into its folds is also apparent in the scale of its bid, which is reported to be between 4.8 trillion and 5.5 trillion won ($4.2 billion and $4.8 billion).

The value of the deal, in which Hyundai E&C creditors will hand over 34.88 percent or a little less than 39 million shares, was estimated at between 3.5 trillion and 4 trillion won.

Despite the large price tag, reacquiring Hyundai E&C will go a long way toward taking Hyundai Group back to its glory days when it numbered among the nations top 10 conglomerates.

Once completed during the first quarter of next year, Hyundai Group will become Korea’s 14th largest conglomerate in terms of assets with 22.3 trillion won 9.8 trillion won from Hyundai E&C and Hyundai Group’s 12.5 trillion won.

In terms of sales, Hyundai Group’s figures will be doubled. Last year Hyundai E&C recorded sales of 10.7 trillion won matching that of Hyundai Group as a whole.
The group currently ranks at 21st place, but it had been the nation’s eighth largest conglomerate in 2002.

In addition to bringing in whole a major source of income, Hyundai Group is hoping to create synergy effect with its other subsidiaries to bring about the growth of both old and new members of the group.

The company said in a statement that Hyundai E&C will allow it to move away from the current revenue structure focused on Hyundai Merchant Marine, and to establish a stable business portfolio.

Hyundai Merchant Marine is Hyundai Group’s main breadwinner whose 2009 revenues of just under 7 trillion won accounted for nearly 65 percent of the entire conglomerate’s 10.7 trillion won.

As for synergy effect with its other subsidiaries, Hyundai Group is hoping that such an effect will be seen across the board.

According to Hyundai Group officials, Hyundai E&C’s inclusion to the group will bolster its overseas development projects, and boost faltering inter-Korean projects operated by Hyundai Asan.

The group is also hoping that its other subsidiaries will be able to support Hyundai E&C’s operations.

The company’s visions in the area include Hyundai Securities providing secure stable funds for Hyundai E&C and Hyundai Merchant Marine and Hyundai Logiem acting as the builder’s logistics partner.

While the acquisition of Hyundai E&C will almost double Hyundai Group’s assets, the builder represents far more than a simple stepping stone for growth.

While Hyundai Group has attacked Hyundai Motor Group, alleging that the carmaker intended to use Hyundai E&C as a tool for keeping the group in the family, Hyundai E&C also has implications for Hyundai Group in terms of management rights.

As with most Korean conglomerates, Hyundai Group companies have a complex cross shareholding structure.

Hyundai E&C holds 8.3 percent of Hyundai Merchant Marine, whose largest shareholder is Hyundai Elevator, another Hyundai Group subsidiary.

Hyundai Elevator is 3.9 percent held by the Hyundai Group chairwoman and 20.9 percent held by Hyundai Logiem Co., yet another Hyundai Group company.

Hyundai Logiem, in turn, is 37.32 percent held by Hyundai Merchant Marine and 12.61 percent held by Hyun.

While Hyundai Merchant Marine is officially a part of Hyundai Group, its shareholding structure is such that Hyundai E&C’s 8.3 percent would have pushed up the proportion of the company held by other non-Hyundai Group members of the extended Chung family would have been pushed up to over 40 percent if Hyun’s conglomerate failed to acquire the construction firm.

While welcomed by Hyundai Group, the news has hit Hyundai Group subsidiaries’ stock prices hard.

Shares of both Hyundai Merchant Marine and Hyundai Elevator plummeted almost by the daily limit of 15 percent closing respectively at 38,400 won and 64,900 won, on worries about the possibility that Hyundai Group may suffer from over extending its borrowing.

By Choi He-suk (

Hyundai Engineering (HEC) Memo Day



Autumn and fall is about to end and winter is coming soon. Streets are covered with beautiful golden yellow and orange leaves. As the wind blew it jumps from the tiny twigs of the tree and say farewell while flying with the autumn breeze. The leaves are like a traveler leaving from his abode “Here I come and gone with the wind, my journey is like never ending and let the nature drives my destiny to my final end by: Denis Somoso”. It seems the nature bears fruit and cleans itself to prepare for the next one.

Human and nature is interconnected to each other. Nature is the mirror of human beings that will never be broken unless you will break it and fall together. As the nature prepare for its next chapter human will do the same. We are also in the phase of preparing our next fruit, dropping off concerns, which received fervent response in 2008, to support the accomplishment of Hyundai Engineering Vision 2015 with our Goal.

It’s a Memo Day today!

We are sharing memo Box for our Memo day, maintaining the existing outline and compensating its defects, will assist us enhancing our work efficiency and developing our lives.

Important: Self Management and Memo
  1. Take note instantly when you have an Idea
  2. Release stress by habit of taking notes
  3. Organize your day by taking notes
  4. Arrange the unresolved issues and questions one by one. “You will find a way” (The world is balance and it will never fail. Every questions have its corresponding answers and question is design by nature to meet its answer” by: Denis Somoso)
  5. Take notes even about your dreams
  6. Look back on yourself and take notes; 10 WANT-TO-Dos. 10 WANT-TO-Bes.

Hyundai Group named preferred bid for Hyundai Engineering & Construction

* Hyundai Group consortium picked as preferred bidder -source

* Buyer Hyundai Merchant shrs fall 12 pct on finance worries

* Hyundai E&C shares slump 15 pct

* Hyundai reportedly offered around $4.5 bln for 35 pct stake

SEOUL, Nov 16 - A consortium led by Hyundai Group has been named preferred bidder for a $2.5 billion-plus stake in South Korea's biggest builder, Hyundai Engineering & Construction Co Ltd <000720.KS>, its top shareholder said on Tuesday.

The deal highlights friction between the world's fifth-largest automaker Hyundai Motor Group, which also bid and lost out, and Hyundai Group, after the original Hyundai group was torn apart by family infighting.

"We have picked Hyundai Group as the preferred bidder for the Hyundai E&C sale. We will announce the bidder at a news conference at 11 a.m.," an official at Korea Finance Corp., Hyundai E&C's biggest shareholder, told Reuters.

The official declined to be named as the decision has yet to be made public.

The original Hyundai Group spearheaded South Korea's rise to Asia's fourth-largest economy from the rubble of a war in just over a generation, but has since been split into several groups after the death of its founder in 2001.

Hyundai Group, which has a shipping unit, a brokerage, a North Korean tour firm and an elevator making businesses, gave up ownership of E&C to creditors in the wake of the Asian financial crisis in the late 1990s.

Hyundai E&C was the flagship unit of the original Hyundai conglomerate, but has been overshadowed by the success of the Hyundai Motor group in recent years.

Shares of Hyundai Merchant Marine <011200.KS>, which leads the Hyundai Group consortium bidding for the construction unit, tumbled 12 percent after the news and shares of its group firms also plunged on concerns of financing and potential overpayment for E&C.

Hyundai Elevator <017800.KS> dropped 10 percent and Hyundai Securities <003450.KS> fell 6 percent.

"Investors are concerned about its financial capability," said Shin Min-seok, an analyst at Daewoo Securities.

Shares in Hyundai E&C slumped 15 percent on the news.

Media reports have said Hyundai Group may have offered at least 4.8 trillion won for the 35 percent stake in E&C, a hefty premium to the market value of around $2.5 billion.

Both Hyundai and shareholders declined to reveal value of the deal.

"Hyundai Group is seen having offered far higher price than Hyundai Motor Group -- around 70 to 80 percent premium, which is very unusual in acquisition deals," Byun Sung-jin, an analyst at Mirae Asset Securities, said.

From Yahoo news Asia.
(Reporting by Hyunjoo Jin and Ju-min Park; Editing by Lincoln Feast)

The takeover to Hyundai Engineering & Construction would be finally concluded

Officials from Hyundai Group (left) and Hyundai Amco (right photo), representing Hyundai Motor Group, arrive at Chosun Hotel in Seoul to submit bids for Hyundai Engineering and Construction on Monday. (Yonhap News)

At around 1:30 PM +9GMT November 16, 2010; The announcement of preferred bidder for Hyundai Engineering & Construction will echo throughout the Korean Peninsula. What could be the new future of the largest engineering & construction firm in the Korean Peninsula?

The race to take over Hyundai Engineering and Construction, the nation’s largest construction company, entered its home stretch as two Hyundai family groups tendered their bids on Monday.

The successful bidder will acquire 34.88 percent or a little less than 39 million shares, with prices expected to come in at between 3.5 trillion won ($3.1 billion) to 4 trillion won.

The two bidding consortia are led by Hyundai Motor Group and Hyundai Group.
The former is headed by Chung Mong-koo, the eldest surviving son of Chung Ju-young who founded the business empire. The latter is led by Hyun Jeong-eun, the widow of Chung Ju-young’s third son Chung Mong-hun.

Hyundai Engineering & Construction closed at 73,100 won on Monday, down 0.55 percent from Friday.

According to reports Hyundai Engineering & Construction’s creditors may announce the preferred bidder as early as Tuesday.

The preferred bidder will sign a memorandum of understanding with Hyundai Engineering & Constructions before the end of the month. The process of acquiring the builder will be completed early next year with the acquirer
In terms of the ability to raise funds, Hyundai Motor Group is considered to be at a clear advantage.

Hyundai Motor Group’s bid is being made by a consortium of Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co.

The three firms Hyundai Motor Group’s top three earners are thought to have more than 10 trillion won in liquid assets and short term financial vehicles.

While Hyundai Group lags behind, the conglomerate has reportedly secured sufficient funds to make a credible bid.

Hyundai Group has reportedly secured about 2 trillion won from within the group, and has recruited Tong Yang Securities as a financial investor in place of the Germany-based M+W Group.

Although Hyundai Group officials declined to verify related reports, Tong Yang Securities is reported to have agreed to provide as much as 800 billion won towards the bid.

However, with Korea Finance Corp. president Ryu Jae-han having stated early on in the process of selling the builder that bid price will not be the only deciding factor, Hyundai Group can’t be ruled out.

With 11.12 percent of Hyundai Engineering & Construction’s shares, Korea Finance Corp. is the builder’s largest shareholder.

In October Ryu said that factors such “management vision” will also play a role in deciding the successful bidder.

Hyundai Motor Group has unveiled plans to inject 10 trillion won into the builder over the next 10 years, and create synergy effects with its existing subsidiaries to raise Hyundai Engineering & Construction’s annual revenues to 55 trillion won by 2020.

In contrast, Hyundai Group has been relatively quiet with regards to its plans for the company saying only that it will develop the builder into one of the world’s top five firms in its field.

Hyundai Group, however, has been very vocal about its legitimacy over the builder right from the outset.

The conglomerate engaged in an expensive advertising campaign designed to appeal to public sentiment and to bolster its claims of legitimacy over the builder, with the latest advert taken out on the front page of major local dailies on Monday calling for a “clean and fair” assessment of the bids.

By Choi He-suk (

Korea President LEE Myung-Bak - A Former President of Hyundai Engineering 1977-1992

“The poverty that stuck on my family like an oyster shell never went away even after I turned 20,” Lee once recollected.

Lee Myung-bak was born on Dec. 19, 1941 in Osaka, Japan, as the fifth child of a farm worker on a cattle ranch. Lee’s parents had emigrated to Japan during Japanese colonial rule of Korea. After World War II ended in 1945, his family returned to his father’s hometown Pohang in South Gyeongsang Province.

Lee worked through elementary and middle schools, selling odds and ends in the market with his mother. He continued to work in the day as he attended night classes at Dongji Commercial High School in Pohang on a full scholarship.

His family moved to Seoul in December 1959 to support his elder brother who went to college. Because the single room his family rented was too small, Lee lived in a shelter for day laborers and took up whatever manual labor job he could find.

Lee has said that the first major transition in his life came when he entered college.

A year after graduation from high school, Lee gained admission to Korea University’s department of business administration.

“I thought I could at least be a college dropout if I pass the entrance exam, even if I don’t go to school,” he said later.

While attending college, he worked as a sweeper and garbage collector in a market to pay his tuition fees.

In his third year at college, Lee ran for student president of the college of business administration hoping to reshape his introverted character and got elected. He had been deeply impressed by Korea University students’ protests against dictatorship the year before he entered college which led to the resignation of President Syngman Rhee.

As the student president, Lee led the demonstrations against Korea’s planned normalization of diplomatic ties with Japan in 1964, and was jailed for six months on charges of instigating insurrection.

Lee’s life took its second major transition as he entered Hyundai Engineering & Construction.

After Lee graduated from university, his record as a student activist kept him from getting employed.

When he applied for a job at Hyundai E&C, which was then a much smaller company, and took a written test he was told to speak with the human resources manager.

The manager said his test results were excellent, but he couldn’t be hired because of his past involvement in student activism.

Lee came home and wrote a letter addressed to then-President Park Chung-hee about his pure intentions and patriotism in the demonstrations, criticizing the government for barring his pursuit of a career.

The presidential aide for civil affairs called a few days later, met Lee and suggested he join a state-run company or go abroad to study.

Lee declined the proposal, saying, “If the nation blocks a young man from trying to survive on his own, it would be indebted to him forever.”

After a while, Lee was told by Hyundai E&C he had a job with them.

He devoted himself to the company, climbing his way to the top in just 12 years. He made headlines for becoming a CEO at the age of 35 in 1977.

As CEO, he won major construction deals around the world from Southeast Asia, the former Soviet Union to the Middle East and South America, building personal ties with the leaders of many countries.

Lee left Hyundai E&C in January 1992 by stepping down from his post as chairman.

He then entered politics as a proportionate legislator of the Democratic Liberal Party in the 14th National Assembly in 1992.

In 1995, he lost in the intra-party competition for the conservative party’s candidacy for Seoul mayor.

In the parliamentary elections in 1996, Lee won in the Seoul’s Jongno-gu constituency, but soon gave up his parliamentary seat for violation of election law and fled to the U.S.

He made a successful comeback to politics by getting elected as the Seoul mayor in July 2002.

By adopting corporate-style management in public administration, Lee pushed ahead with the restoration of the Cheonggye Stream and the overhaul of the city’s complicated bus system.

The two projects turned out to be a huge success, greatly helping him win the presidential elections in 2007.

He assumed office as the president in February 2008, launching a center, pragmatist administration with a slew of reform initiatives.


By Kim So-hyun (

Korea Herald


Will Hyundai Motor Group take over Hyundai Engineering ?

Hyundai Motor’s chance of merging with top construction firm is ‘50-50’

Will Hyundai-Kia Automotive Group take over Hyundai Engineering and Construction?
Some Hyundai Motor officials say that the chances are fifty-fifty, while its spokesman said there was no chance at all.

If a reason to deny the rumors is needed, the stock market offered it. Hyundai Motor stock prices tanked after reports about the company's keen interest in the construction firm.
"It is an old story that Hyundai Motor is interested," one source said. "The chance is fifty-fifty."

Industry sources said Thursday, Hyundai Motor Group Chairman Chung Mong-koo, eldest surviving son of the late Chung Ju-young, the founder of Hyundai Group, is seriously considering taking over the construction company, the starting enterprise of the Hyundai business empire.

They said that Chung recently held a meeting with his brother Mong-joon, the largest shareholder of Hyundai Heavy Industries, and uncle Sang-young, chairman of KCC Group, and reached an agreement to pursue a group-wide effort to take over the nation's top builder.

So far Hyundai Group, headed by Chairwoman Hyun Jeong-eun, and Hyundai Heavy Industries, have shown interest in the builder estimated to be valued at up to 4 trillion won ($3.3 billion). Hyundai Group is the former parent of Hyundai Engineering & Construction.

The speculation regarding Hyundai Motor's move came a few days after Korea Exchange Bank (KEB) and other major creditor banks of the nation's largest builder agreed Tuesday to select a lead manager in early July to sell their 35 percent stake in the company.

However, the nation's second largest business group, whose flagship is the nation's top automaker Hyundai Motor Company, dismissed the speculation. "There was no such meeting among the Chungs. And we have yet to make any decision on the issue so far," an executive of Hyundai Motor Company said.

Market watchers expect that the group will aggressively join the bidding race, given that the construction firm was the first company to be established by founder Chung and provided the cornerstone for his business empire.

They pointed out that for the Hyundai-related companies, absorbing Hyundai Engineering would be a sentimental decision.

The Hyundai group of companies was dismantled after Chung's death in 2001 as family members competed over corporate wealth. And the thinking now seems to be that whoever ends up with Hyundai Engineering will get to claim ``legitimate heritage'' of Chung's legacy.

Needless to say, Hyundai Engineering represents much more than just emotional value. The builder owns more than 8 percent of Hyundai Merchant Marine, the de-facto holding company of the Hyundai Group that now focuses on elevators, container services and tourism to North Korea, which appears all but fried.

Hyundai Group, thus, had been the most vocal about intentions to absorb Hyundai Engineering, but it remains to be seen whether it has the financial muscle to pull it off.

Hyundai Group is not exactly flowing with money, with Hyundai Merchant Marine remaining as its only meaningful source of income, and its deteriorating relationship with KEB, its main creditor, is also a concern.

Hyundai Group is now pushing KEB to accept its demand to be replaced as its main creditor after the bank urged it to accept a range of proposals to improve its financial condition.

Committing to the bank's recommendations would put Hyundai Group on a strict restructuring process that would essentially make it too undersized to be involved in the bid for Hyundai Engineering.

Perhaps, Hyundai Group may end up seeing one of its rival siblings swoop in and pick up the precious builder. Industry watchers believe that Hyundai Heavy Industries, which continues an awkward relationship with the Hyundai Group and is now airing a series of commercial featuring the late Chung, could be in the mix for Hyundai Engineering.

Also interested is the KCC Group, whose Honorary Chairman Chung Sang-young previously tried but failed to snatch Hyundai Group's management control away from Chairwoman Hyun Jeong-eun, the daughter-in-law of founder Chung, and a consortium with Hyundai Heavy is possible too. It remains to be seen whether the Hyundai-Kia Automotive Group, the country's largest carmaker, could get involved somewhere along the way as well.

Non-Hyundai bidders

Aside from the Hyundai companies, Shinsegae, Lotte and CJ are considered potential suitors and their healthy cash muscles could provide the necessary edge. Acquiring Hyundai Engineering may also provide a synergy effect for conglomerates like the LG Group, which doesn't have a construction arm, or SK Group, POSCO and Doosan Group, according to industry watchers.

Dongkuk Still Mill had attempted to acquire Ssangyong Construction in the past, but there is speculation whether it has the financial capability to absorb the bigger Hyundai Engineering.

``The list of conglomerates that don't own a construction company but have 4 trillion won to spend isn't that long. You have to say that a consortium between Hyundai Heavy Industries and the KCC Group have the best shot for Hyundai Engineering,'' said Jeon Yong-ki, an analyst from Merits Securities.

Hyundai Engineering posted more than 9 trillion won (about $7.4 billion) and currently holds approximately 1.4 trillion won in cash and cash equivalents.

By Kim Jae-kyoung, Kim Tong-hyung
Staff reporters

Hyundai Engineering & Construction bidders up stake in ad war

Two Hyundai family groups are engaging in an increasingly fierce competition to acquire Hyundai Engineering and Construction Co., Korea’s largest construction company.

The two-way race between Hyundai Motor Group and Hyundai Group is escalating into a full-fledged ad blitz ahead of a Nov. 15 deadline for bidders to present their final proposal.

Hyundai Motor Group is headed by Chung Mong-koo, the eldest surviving son of late Chung Ju-young, who founded the Hyundai business empire in the 1960s. Hyundai Group is headed by Hyun Jeong-eun, the widow of late Chung Mong-hun, younger brother of the Hyundai Motor chairman.

Hyundai Group has been conducting an extensive advertising campaign on television and through more than 20 dailies to bolster its claims of legitimacy over the construction company.

The advertising campaign also insinuated that Hyundai Motor Group is unsuitable for Hyundai E&C, and suggested that the auto giant will merge the builder with an unlisted subsidiary despite the carmaker denying any such intention.

Hyundai Motor Group has refrained from responding so far. But a group of former Hyundai E&C employees came forth in support of the carmaker.

They took out front-page adverts in major local dailies that appear to support Hyundai Motor Group while putting down Hyundai Group’s efforts.

Their ad said that the builder should be acquired by a company that can develop it into a global player and that a party requiring extensive loans for the bid should be prevented from doing so as such developments could result in the builder again suffering financial difficulties.

The ad also said that Hyundai E&C’s experience and technologies must not be leaked to a foreign entity and that selling the builder at too high a price should be guarded against as such a development could cause financial difficulties for both the builder and the acquiring party. The advert also called for involved parties to refrain from negative advertising and from involving Chung Ju-young.

Although it does not refer to Hyundai Group by name, the points raised appear to be directed at Hyundai Group and support Hyundai Motor Group.

Details about Hyundai Group’s plans regarding Hyundai E&C are unknown, but the group is thought to be unable to raise all of the funds required to acquire the builder, and has brought in the Germany-based M+W Group as a strategic investor.

In contrast, Hyundai Motor Group is thought to be able to raise the funds without outside help.

Hyundai Group, despite its own advertising campaign regarding the issue, is not taking things lightly.

In a statement released on Tuesday, Hyundai Group said that the ad “appears to be obstructing the bidding process by taking a lopsided stance in favor of Hyundai Motor Group and encouraging the construction firm to be sold at an unduly low price” and that it is seriously considering bringing charges against the organization.

“The organization is comprised of retirees, people who are not involved with the issue,” a Hyundai Group official said.

“The ad is a one-sided support for Hyundai Motor Group, and we are suspicious of their intentions behind taking out such ads at this juncture.”

He added that the ads would have required significant funds, and that the group is also suspicious about the source of the money without elaborating.

Hyundai Motor Group, however, remains silent about the issue.

“The group will not respond to such adverts. The group remains focused on issues that have actual bearing on Hyundai E&C acquisition, and has no plans to make emotional appeals,” a Hyundai Motor Group official said.

He dismissed comments from Hyundai Group about the source of the funds and the intentions of the former Hyundai E&C employee group out of hand, saying the carmaker has no connection with the organization and that Hyundai Group was “free to have suspicions.”

By Choi He-suk (

Mars Education Missing Step

Why is it that a country with such a high level of pride in academic studies sets the bar so low when it comes to obtaining academia?

Once again I was talking to a colleague today, a wealthy, intellectual and professionally successful Korean middle aged working male with children gearing up for the university entrance exams. Our conversation ranged from the study schedules to his future study plans of children once they start university. He stressed to me the importance of entrance into a good university because life is basically set after you manage to get that university’s name on your degree. I have no doubt that his two high school students are indeed working incredibly hard to gain entrance to one of those universities that no one is allowed to mention by name any more. But the question here is, why?

Korea is a country with very high enrollment rates in all forms of higher education, but why is achieving undergraduate status so important in this country? Undergraduate studies are basically another form of high school. As an undergraduate student you are expected to listen, learn and regurgitate a collection of other people’s ideas into a complex essay argument with appropriate referencing. This is just the first step in learning proper academic form, it does not make you an academic, it only opens the door for you to become an academic if you demonstrate enough ability. At which time you may go on to study a master’s or Ph.D.

After the university entrance exams, so many Korean students are so burnt out from the high school studying experience that they need time to relax, party, drink, have a life, have a boyfriend or girlfriend ― very few engage in university study with anything near the dedication they had in high school. Why? They feel they can relax because they became an undergraduate? But actually, they have not proven anything academically to the world as an undergraduate, they will need many more years of learning, development and maturing before they can hope to have their voices heard in any academic setting.

Last year when the list of 100 top universities across the globe was published, there was much distress and name calling from the Korean public. It was perceived that Korea had been hard done by. It could not be conceived that the much beloved top Korean universities had not made the list or were very low on it. People failed to understand this list from a non-Korean perspective. This list was not measuring universities at an undergraduate level, this list was measuring the academic achievements of universities and none of those achievements have anything to do with the universities’ undergraduate status in Korean society.

On numerous occasions I have discussed with Korean CEOs how they choose their high level MBA graduate candidates fresh from university ― invariably they say they would ideally like to hire a Korean who has graduated with an MBA from either a U.S. Ivy league university or the two famous U.K. universities. From the people I have talked to, there seems to be very little affection directed towards any of the Korean university MBA programs.

Perhaps solving the problem of over heated competition during the university entrance examinations needs to start with the consideration that an undergraduate degree is not the be all and end all of academic life; that post graduate masters and Ph.D. program spots within every Korean university need to be open to every student from every university based on a merit system and probably the submission of a written essay on the topic that the student intends to conduct further research on. The key to ending the ridiculous study regime of Korean high school students is to acknowledge that entrance to any university as an undergraduate is not really that special anyway, it is merely the beginning of an interesting journey that may see that student achieve academic success.

Korean universities should cut back on advertising in subway stations and focus on putting forward top academics to raise the academic profile of their researchers internationally. Ph.D. programs should follow internationally recognized academics and promote increased outputs from capable minds. Graduate schools must welcome applications from graduates of all universities, not only in house or famous universities in Korea. Finally, academic merit of a university should never be measured on undergraduate courses and by implication the ability of high school students to cram.

By Jake Mars
Jake Mars is a language specialist at Hyundai Engineering. @ Yongsan, Seoul


Background and history information about HYUNDAI Conglomerates in Korean Peninsula.

HYUNDAI was founded by the late Ju-yung Chung in 1947 with 6 sons. After his death the Hyundai was divided into different “Groups”.

1.) HYUNDAI KIA AUTOMOTIVE GROUP (President & CEO Mong Koo CHUNG) (With Brother Mong Woo Chung as co founder –Committed suicide)


Hyundai Motor Company (This is operating globally with Offices in most countries of the world. slogans Drive your way, "Think About It", "Smart Is In")

Kia Motors (slogan, The Power to Surprise)

• Hyundai Autonet
Hyundai Enercell
Hyundai Mobis
Hyundai Oil Bank
Hyundai Powertech
• Bontech
Eco Plastic
IHL Industry
• Kefico
Metia Industry
Hyundai WIA
• Wisco

BNG Steel
Hyundai Steel
Hyundai Hysco

Hyundai Rotem
Hyundai WIA

Hyundai WIA

Innocean Worldwide

NGV Corporation

Eco Energy


Auto Ever
Metia Interactive

Hyundai Capital
Hyundai Card

AMCO Constructions

Hyundai Marine & Fire Insurance (Chairman Moong Yoon CHUNG Brother of Mong Koo)

• Seoul Metro Line9 (Subway train Line # 9)

Jeonbuk Hyundai Motors Football Club
Kia Tigers Baseball Team
Ulsan Mobis Phoebus (formerly called “Mobis Automons)
Cheonan Hyundai Capital Skywalkers
Hyundai Steel Red Angels (Women’s Football Club)

Hyundai Engineering & Construction Group (HYUNDAI E & C GROUP; Formerly part of the Hyundai Group)

Hyundai Engineering & Construction Co., LTD (HDEC or Hyundai E & C) (President & CEO Joong Kyum KIM)
  • Hyundai E&C U.S.A.
  • Hyundai E&C U.K.
  • Hyundai E&C Japan
  • Hyundai E&C Hong Kong
  • Hyundai E& C Singapore
  • Hyundai E&C Vietnam
  • Hyundai E&C Indonesia
  • Hyundai E&C Libya
  • Hyundai E&C Iran
  • Hyundai E&C Kuwait
  • Hyundai E&C Saudi Arabia
  • Hyundai E&C Qatar
  • Hyundai E&C UAE
  • Hyundai E&C India

Hyundai Engineering Co. LTD, ( HEC or Hyundai Engineering) [President & CEO Dong Wook KIM]

Hyundai Engineering Co., Ltd. Subsidiaries:
  • TIES Technology Integration Engineering Services International - Kuwait
  • LHT International Engineering Joint Stock Company, Vietnam
  • Hyundai Saudi Arabia Co., Ltd
  • PT. Hyundai Engineering Indonesia
  • Salam Engineering – UAE
  • HCL Trinidad & Tobago
  • PETRO VIETNAM Investment Consultancy & Engineering Joint Stock Company (PVE) Vietnam
  • Hyundai Engineering (Thailand) Co., Ltd
  • Hyundai Engineering & Construction C&I Co., Ltd
  • Hyundai Engineering India Pvt. Ltd
  • Hanra Wind Power Co., Ltd
  • Hyundai City Development Co., Ltd

Hyundai Engineering Co. Ltd. Overseas branch offices:
  1. Hyundai Engineering Co., Ltd. UAE
  2. Hyundai Engineering Co., Ltd. Algeria
  3. Hyundai Engineering Co., Ltd. Equatorial Guinea
  4. Hyundai Engineering Co., Ltd. India
  5. Hyundai Engineering Co., Ltd. Indonesia
  6. Hyundai Engineering Co., Ltd. Kazakhstan
  7. Hyundai Engineering Co., Ltd. Kuwait
  8. Hyundai Engineering Co., Ltd. Sri Lank
  9. Hyundai Engineering Co., Ltd. Malaysia
  10. Hyundai Engineering Co., Ltd. Philippines
  11. Hyundai Engineering Co., Ltd. Thailand
  12. Hyundai Engineering Co., Ltd. Turkmenistan
  13. Hyundai Engineering Co., Ltd. Tunisia
  14. Hyundai Engineering Co., Ltd. Uzbekistan
2.) Hyundai Department Store Group (President & CEO Mong Kun CHUNG)
• Hyundai Department Stores
• Hyundai F&G Holdings
• Hyundai Food Systems
• Hyundai Guhami
• Hyundai Nanumi
• Hyundai Exchange Holdings
• Hyundai Ethics
• Hyundai C&N Holdings
• Hyundai Home Shopping
• Hyundai H&S Holdings
• Hyundai Business Holdings
• Hyundai Dream Tour

3.) Hyundai Group (President & CEO Jeong eun HYUN wife of the late Mong Hun CHUNG) Hyundai Group CEO Mong Hun Chung had committed suicide last August 4, 2003 so his successor is his wife Jeong eun Hyun who is now the President and CEO of Hyundai Group)
Hyundai Asan
Hyundai Securities
Hyundai Elevator
Hyundai U & I
Hyundai Research Institute
Hyundai Investment Network
Hyundai Corporation
Hyundai Logiem (Logistics)
Hyundai Merchant Marine

4). Hyundai Heavy Industries Group (President & CEO Mong Joon CHUNG)
Hyundai Heavy Industries |[Ulsan Hyundai Mipo Dockyard Sports Team]
Hyundai Samho Heavy Industries | [Ulsan Hyundai FC]
Hyundai Corporation
Hyundai Venture Investment
Hyundai Futures
Hyundai Finance

Other Hyundai companies (e.g. Hynix) were separated from the Hyundai Group (under its new management) because of the economic downturns. Previously Hynix which is the world's second-largest memory chipmaker was part of the Hyundai Group in 2002 but sold to HYDIS (TFT LCD Business unit) and it happened again when Hyundai Group mismanaged the Hyundai Engineering & Construction during the economic downturn since they were not able to pay their indebtedness in the Government banks of Korea, so the Government banks took over the HYUNDAI Engineering & Construction Group; the biggest construction company in Korea which was under the umbrella of HYUNDAI GROUP and recently acquired back by the Hyundai Motors Group.

For more Hyundai Conglomerate Group Links, may Check where you could find Photos and groups of Hyundai

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