The Development Course of Modern Heavy Industry Company

1946 In April, Zheng Zhouyong, who used to run a rice wholesale shop and an auto repair shop, established Hyundai Motor Industry Company in Seoul. 1947 in may, modern civil engineering company was established. 1950 1, Zheng Zhouyong merged the two companies to form modern architecture joint-stock company. This is the beginning of the modern group. Hyundai Construction Company is the parent company of this group. In 1950s, taking advantage of the opportunity of Korean War and post-war economic reconstruction, the company contracted construction projects and established a firm position in the construction industry. In 1960s and 1970s, the company rapidly expanded its strength by establishing a large number of subsidiaries and merging activities, and became a diversified large-scale enterprise group with strategic focus on construction, machinery, automobile and shipbuilding.