The beginnings of Hyundai - From 0 to 100 in 50 years
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Summary
In 1966, the grass was still waving in the wind on an empty field near Ulsan in the south of the Korean peninsula. The following year, a few modest assembly halls were erected on it. Today, a car factory with the incredible capacity of 1.6 million vehicles a year stands on the same site, the second largest of its kind in the world. A Hyundai rolls off the production line here every twelve seconds. The international rise of the South Korean car industry really took off from here 50 years ago.
This article contains the following chapters
- Everything and much more
- Learning from the best
- New factory and industrial production
- The complete decoupling
Estimated reading time: 10min
Preview (beginning of the article)
Korea has made a huge leap in development. The then emerging country exported around 30 trucks in 1975. Today, Hyundai and its sub-brands Kia and Genesis are among the top ten car manufacturers and currently rank third behind Toyota and Volkswagen. In 2024, the company celebrated its 100 millionth car and the brand is at home in 193 markets around the world with around 5,000 dealerships. It all started very modestly in 1967: With a Ford Cortina Mk II. The fact that it was this car that kick-started Hyundai's automobile production was not so clear-cut, as the Ford P7 from Cologne was also on the Koreans' shortlist.
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