The Splintering of Hyundai Group

choi

(1) Hyundai Group chairwoman and CEO since 2007 is Hyun Jeong-Eun.

Kyunghee Park,  Housewife Turned Hyundai CEO Fights Brother-in-Law. Bloomberg BusinessWeek, Sept 28, 2010.
www.bloomberg.com/news/articles/ ... -in-law-for-dynasty

two consecutive paragraphs:

"Hyun Jeong Eun 玄貞恩 [59 years old], who jumped from housewife to head of Hyundai Group after the 2003 suicide of her husband 五男の鄭夢憲, the favored son of founder Chung Ju Yung, is trying to rebuild an industrial empire splintered by family infighting, bad debts and an ill-fated effort to expand into North Korea. Against her is Chung Mong Koo 鄭夢九, the founder’s eldest surviving son and chairman of Hyundai Motor Co, a separate business that is the nation’s largest carmaker.

"The two go head to head this week bidding for a controlling stake in Hyundai Engineering & Construction Co, the cornerstone for the Hyundai empire before bad debts left it in the hands of creditors.

Note:
(a) The hanja comes from ja.wikipedia.org.
(b) Hyundai Engineering & Construction
en.wikipedia.org/wiki/Hyundai_Engineering_%26_Construction
(Hyundai Motor Group is a new owner of Hyundai Eng. & Const co, Ltd in 2011 by Korean banks' decision after defeating Hyundai (merchang marine: the 2nd largest shipping co, in Korea after Hanjin 韓進 shipping) Group)


(2)
(a) Hyundai Group (headed by Ms Hyun) is headquartered in Seoul.
(b) Based in Ulsan and founded in 1972 (rather than 1947), Hyundai Heavy Industries Group (has its stock listed in Korea Exchange (KRX, based in Busan). Founder’s 六男の鄭夢準 is its 大株主, but has not run the group, as he has been elected seven times as 国会議員 (since 1992).  

(3) The outlook of Hyundai shipbuilding is not rosy, nor are those of China’s: The world has a chronic glut of commercial ships, since way before the financial crisis. Shipping companies occasionally still order new ship (because they are more efficient and cost-effective, but what happens to the older ships?

In-Soo Nam, New Hyundai Heavy Chief Tries to Right the Ship; Korean Shipbuilder Posts Losses Amid Global Overcapacity, Chinese Competition. Wall Street Journal, Nov 30, 2014.  
www.wsj.com/articles/new-hyundai ... the-ship-1417395818
("In his inaugural speech as Hyundai Heavy’s [that is Hyundai Heavy Industries Co, as opposed to its parent Hyundai Heavy Industries Group] chief executive [in September 2014], Mr Kwon [Oh-gap; the surname Kwon is 權] spoke of the pioneer spirit of the group’s founder to encourage workers to weather the current difficulties. Chung Ju-yung, the founder, ventured overseas in 1971 seeking a client for his planned shipbuilding business. He carried only a photo of a beach where the shipyard would be located and a blueprint of a large oil tanker. He clinched a deal and two years later delivered two large ships to a Greek shipping tycoon for $62 million")