When Chung Ju-Yung started Hyundai Engineering and Construction Company in 1947, he aimed at post-war reconstruction. However, this company soon transformed into the Hyundai Motor Company which produces some of the world’s favourite cars.
Though his business was abandoned due to the North Korean invasion, he continued to work with the Korean Ministry of Transportation and the UN forces. Hyundai produced its first car in 1968 in collaboration with Ford.
Soon enough, he realised the potential of his newfound business and wanted to develop his own cars. Hyundai’s second car – the Hyundai Pony was South Korea’s first mass-produced vehicle. Pony was well received in the Korean market and soon began to be exported.
With each model, Hyundai came up with a number of innovative features, like cruise control and power seats. One of their marketing campaigns granted a 10-year warranty to vehicles sold in the US. No other manufacturer gave such a promise and soon, Hyundai earned a spot in the list of the top ten car manufacturers.
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