For a company that was established less than 50 years ago, Hyundai Motor Company has made a lot of progress and quickly gained it’s place as one of the top automobile companies in the world. The automobile industry is diverse and it can be difficult for a newer company to make it’s mark. The largest Korean car company, Hyundai is now the fourth largest automaker in the entire world. For those interested in how Hyundai went from partnering with Ford to reaching their current status, take a look at this brief history of the largest Korean car company.
The First Korean Car Company
Not only is Hyundai the largest Korean car company, they are also their first. Established in 1967 as the Hyundai Motor Company, the company can actually trace its roots back to 1947 and the Hyundai Engineering and Construction Company.
For their first effort at developing a vehicle, Hyundai had partnered with the Ford Motor Company to release the Cortina in 1968. This was a smart business decision, as the Cortina was currently the most popular family vehicle in England. Hyundai was able to manufacture and license the vehicle in Asian markets and used this success to begin developing their own vehicles.