Discover

'Hyundai Engineering and Construction Co., Ltd.' (abbreviation: HDEC or HEC) is a major construction company in South Korea which has carried out projects not only in Korea but around the world. The company was founded by Chung Ju-yung in 1947 as the Hyundai Civil Works Company, and was a major component of the Hyundai Group. Hyundai Construction and Hyundai Engineering merged in 1999.^[1]
Hyundai Construction played a major role in the importation of Korean labourers to the Middle East to work on construction projects there in the 1970s and 1980s; in the decade following 1975, when Hyundai signed their first contract in the region, for construction of a shipyard for the Iranian Navy near Bandar-e Abbas, 800,000 Koreans went to work in Saudi Arabia, and another 25,000 went to Iran; Hyundai was their largest employer.^[2][3]
The company was under creditors' management (Korea Exchange Bank being the largest creditor) from 2001 to 2006, as Hyundai Group was split into several entities.^[4] As of March 2007, HEC is the main shareholder of Hyundai Merchant Marine, which is the de-facto holding company of Hyundai Group. Hyundai Group and Hyundai Heavy Industries (another spin-off from Hyundai Group) are both vying to purchase HEC.^[4]

Contents

Major Hyundai Entities (formerly Hyundai Group)

See also

References

External links

Major Hyundai Entities (formerly Hyundai Group)

★ Hyundai

★ Hyundai Motor Company, a division of Hyundai Motor Group

★ Hyundai Heavy Industries

★ Hyundai Asan, a division of Hyundai Group

★ Hyundai Engineering and Construction

★ Hyundai Department Store Group

★ Hyundai Development Group

★ Hyundai Electronics, renamed as Hynix in 2001

See also

★ Economy of South Korea

★ List of Korea-related topics

★ CentGas constortium

References

1. http://www.brl.pe.kr/news/19990515-hdec.htm
2.
3. Made in Korea: Chung Ju Yung and the Rise of Hyundai, , Richard M., Steers, Routledge, , ISBN 0415920507
4. http://times.hankooki.com/lpage/biz/200703/kt2007030621140211910.htm
5. http://times.hankooki.com/lpage/biz/200703/kt2007030621140211910.htm

External links

★ Hyundai Engineering and Construction Korean website

★ Hyundai Engineering and Construction English website