"Wobbles the Mind" (wobblesthemind)
09/01/2016 at 07:56 • Filed to: Business, Hyundai
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"Wobbles the Mind" (wobblesthemind)
09/01/2016 at 07:56 • Filed to: Business, Hyundai | 2
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Here’s the article from !!!error: Indecipherable SUB-paragraph formatting!!! . Here are the current (as of May 2016) sizes of !!!error: Indecipherable SUB-paragraph formatting!!! . Pretty much Hyundai Merchant Marine may be going from being S. Korea’s 2nd largest shipping company to taking over everything but the debt of nearly bankrupt number one Hanjin Shipping (who is 7th ranked in the world in regards to container shipping companies). If you thought Nissan taking over Mitsubishi was a win then this is an extraordinary situation for Hyundai Merchant Marine.
If it helps, Hyundai Motor Group (which owns Kia Motors and Hyundai Motor Company which owns Genesis Motors and Hyundai Motors) recently became the parent to Hyundai Engineering and Construction which is the main shareholder of Hyundai Merchant Marine which is the holding company of what is left of the old Hyundai Group.
Here is a section out of Wikipedia which may help:
Following the !!!error: Indecipherable SUB-paragraph formatting!!! and Chung’s death, Hyundai underwent a major restructuring and break-up, which reduced the !!!error: Indecipherable SUB-paragraph formatting!!! ’s business to encompass only container shipping services, the manufacturing of elevators, and tourism. Today, most companies bearing the name Hyundai are not legally connected to Hyundai Group. They include !!!error: Indecipherable SUB-paragraph formatting!!! , !!!error: Indecipherable SUB-paragraph formatting!!! , !!!error: Indecipherable SUB-paragraph formatting!!! and !!!error: Indecipherable SUB-paragraph formatting!!! . However, most of the former subsidiaries of the Hyundai conglomerate continue to be run by relatives of Chung. If these companies were considered as forming a single broad family business, then it would remain the largest company in South Korea with enormous economic and political power in the country.
I’ve been trying to write more articles focusing on the Hyundai Motor Group because I find them fascinating, no one really talks about them, and I think the scale of this conglomerate is staggering and beginning to reclaim all the parts that were broken up from the original Hyundai Group. Seriously, the speed in which Hyundai Motor Group (which has only existed since 2000) is growing and restructuring is astounding and has a direct impact on Kia Motors and the Hyundai Motor Company. For size, Hyundai Motor Group is the second largest Asian automaker (substantially behind Toyota), and the fourth largest automaker in the world behind Toyota, VW, and GM.
I just want people to understand how major Hyundai Motor Group is. What most people are questioning when it comes to the success of the Genesis luxury brand and Hyundai and Kia cars comes from looking at the fingers instead of the hand. Hyundai Motor Company is what they are thinking and judging but it’s Hyundai Motor Group that is the scariest thing for other automakers because it’s too diverse and rapidly increasing in size and scope.
It’s also worth mentioning that Hyundai Motor Group owns Hyundai Steel which is the second largest EAF (Electric Arc Furnace) steel producer in the world. I honestly believe that is one of the greatest business advantages in all of autodom and that Tesla and its Gigafactory will function much the same way on the cars.
facw
> Wobbles the Mind
09/01/2016 at 08:36 |
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Is it accurate to say Hyundai owns Kia? Most things I’m seeing say their ownership stake is around 33%. That probably makes them the largest shareholder, but is nowhere near a controlling interest.
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Wobbles the Mind
> facw
09/01/2016 at 08:53 |
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They are siblings rather than extensions of one another. More Audi to Porsche (where both brands are independent though will share) than GMC to Buick (where the other brand complements the other and creates a full profile together).
So it’s like you and your sibling. Both share the same makeup, go to the same school, are under the same house with the same mentors, even play the same sports and get the same grades. However, you are two distinctly different people and probably get annoyed when people always compare you to your sibling because the people that know you understand you are similar but different. It’s like that, so Hyundai Motor Company (Hyundai and Genesis) isn’t involved with Kia Motor Company but gets first picks because first born. If Kia wants to, they could start their own luxury brand as long as they have a strong enough business case to present to their parent Hyundai Motor Group.
I hope that kind of helps. In the US, we are very used to brands being extensions of each other rather than this rivals with same toys situation. I’ll do better explained full post as soon as I can since I can explain this better than I am. Hope this helps though.
*So Hyundai owning Kia is like saying your brother is your father, incorrect (outside of parts of Kentucky). But Hyundai Motor Group would be the parent to Kia.
Hyundai Motor Group = Dad, Hyundai Sr.
Hyundai Motor Company = First Child, Hyundai Jr.
Kia Motors = Adopted Child, Little Sister Kia (who’s currently doing better in school than Hyundai Jr.)
Genesis Motors = Hyundai Jr.’s new Spouse (so part of Hyundai Motor Company)