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Hyundai Motor Group

South Korean multinational conglomerate

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  • 5 chapters

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The HMG also refers to the group of affiliated companies interconnected by complex shareholding arrangements, with Hyundai Motor Company regarded as the de facto representative of the group. It is the third-largest South Korean chaebol, after Samsung and SK Group, related to other Hyundai-name industries following a specialized development split and restructuring which resulted in the creation of Hyundai Motor Group, Hyundai Heavy Industries Group, Hyundai Development Company Group, Hyundai Department Store Group, and Hyundai Marine & Fire Insurance.

History

The group was formed through the purchase of 51% of Kia by Hyundai Motor Company in 1998. As of 2011, Hyundai owns 33.7% of Kia Motors.

In June 2021, Hyundai Motor, Hyundai Mobis, Hyundai Glovis, and Hyundai Motor Group Executive Chair Chung Eui-sun collectively purchased an 80% stake in Boston Dynamics, which had been under SoftBank Group's ownership.

On May 22, 2022, the Hyundai Motor Group announced the company would invest an additional $5 billion in the United States by the year 2025. The investment would strengthen collaboration with US firms in areas such as urban air mobility, autonomous driving, artificial intelligence, and robotics. The investments were announced during a visit to South Korea by former President Joe Biden.

On December 10, 2024, Hyundai allowed customers to buy Hyundai cars on Amazon. They could pick it up at their local Hyundai dealership.

In August 2026, 40,000 Hyundai Motor union members in South Korea held a one-day strike, seeking higher pay.

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