The Hyundai Motor Company is a South Korean manufacturer of automobiles. In 2003 it was South Korea’s largest car maker and the world’s seventh largest car maker. HMC operates the world’s largest integrated automobile manufacturing facility in Ulsan on South Korea’s southeast coast.
April 1, 2011. Seoul, Korea.
Hyundai Motor Group today unveiled its new corporate vision named “Vision 2020” that will guide the automotive group for the next decade, as well as its new Group logo.
Based on Hyundai Motor Group’s new management philosophy “Realize the dream of mankind by creating a new future through ingenious thinking and continuously challenging new frontiers,” the Group proclaimed “Together for a Better Future”’ as its vision.
Hyundai Motor Group, led by Hyundai Motor Co. and formed in 2000, has achieved remarkable growth in all areas related to the automobile sector, including production of cars, vehicle material, parts, auto finance and logistics. In particular, the opening last year of its eco-friendly integrated steel mill, Hyundai Steel Co., further strengthened the Group’s status as a comprehensive automotive manufacturer.
To note, Hyundai has made a giant leap forward in brand value over the last ten years thanks to its focus on quality management, advancing from the world’s 10th largest car maker in 2000 to the No. 5 position in 2010.
As a result of relentless effort and continuous global management, Hyundai Motor Group now has 42 affiliates compared to 10 in year 2000, while its total asset jumped 219 percent to 115 trillion won from 36 trillion won in the same period. The total number of employees worldwide also increased 81 percent to about 177,000 from 98,000 in 2000.
Furthermore, with the recent acquisition of Hyundai Engineering & Construction (Hyundai E&C), Hyundai Motor Group will have 50 affiliates, 126 trillion won in assets and about 184,000 employees worldwide.
Hyundai Motor Group’s new vision, “Together for a better future,” expresses its will to create ultimate value and promote harmonious growth for all stakeholders through eco-friendly management and respect for mankind.
Along with the Group vision, Hyundai Motor Group also announced its vision and strategies for its three core sectors. By adding the construction sector to its current driving forces, the automotive and steel sectors, Hyundai Motor Group will be able to enhance its global presence and contribute to a better society and economy.
Vision & Strategies.
• Automotive Vision
Vision slogan: ‘Lifetime Partner in Mobility and Beyond’
“To become a trusted lifetime partner of our customers, we will bring a new perspective to automobiles through innovative mobility solutions based on human-centric, eco-friendly technologies and services.”
• Steel Vision
Vision slogan: “Leading the New Era of Steel”
“As an eco-friendly, resource-circulating company, we will lead a new era in the steel industry by providing high value-added products and services and realizing worlds best competitiveness based on cooperative relations with our stakeholders.”
• Construction Vision.
Vision slogan: “We build tomorrow”
“As a global leading provider of high-value engineering solutions, we will create the foundation for a better life through cross-business synergy and convergence with future technologies.”
Core Values.
Hyundai Motor Group unveiled five core values that will help implement the company’s new management philosophy:
• Customer: The customer will be top priority in all corporate values.
• Challenge: Hyundai will always explore new possibilities, refusing to be complacent.
• Collaboration: Create synergy among all stakeholders and concerned parties.
• People: Create a corporate culture that respects talent.
• Globally: A combination of Global + Ability, signifying Hyundai’s strive to become a globally respected enterprise based on diverse backgrounds.
History.
Chung Ju-yung founded the Hyundai Motor Company in 1947 as Hyundai Engineering and Construction Co. Hyundai Motor Co. (HMC) was established in 1967. The company’s first model, the Cortina, was released in cooperation with Ford Motor Company in 1968. In 1975, the Pony, the first unique Korean car, was released, based on Japanese technology from Mitsubishi. The Pony was exported for the first time in 1976. In 1986 Hyundai began to sell cars in the United States, and the Excel was nominated ‘Best Product #10’ by Fortune magazine, largely because of its low price. The company began to produce models with its own technology in 1988, beginning with the midsize Sonata.
(source: Hyundai)
