Examples of Hyundai Group in a sentence
The Development of the Kaesong Industrial ComplexThe KIC resulted from an initiative led by the Hyundai Group beginning in 1998 that coincided with the Republic of Korea’s (ROK) “sunshine policy” that attempted to improve relations between South Korea and the DPRK.
Since the 1997 financial crisis, the concentration of power in the hands of the larger Chaebols was accelerated by such events as the collapse of the Daewoo Group, the divestiture of the Hyundai Group, the change of the LG Group into a holding company, and foreign investors’ takeover attempt of SK and KT&G (Lee, 2006).
With respect to the CRA/CRPA, the data, which was provided by the GOK, demonstrates that the Hyundai Group companies received an extraordinarily large percentage of financial restructuring and recapitalization aid and that Hynix alone received a very high percentage of such aid.
Regarding de facto specificity, it is concluded that the programme was only used by six companies, four of which belonged to Hyundai Group, and that Hynix used 41 % of the funds of the programme.
In October 1998, Hyundai Asan, one of the member companies of the Hyundai Group, entered into an agreement with North Korea to operate a tourism enterprise at Mount Kumgang in North Korea.
At verification, KEB officials confirmed that GOK had traditionally followed the main bank principle, and that the KEB had a long history of being the main bank for the Hyundai Group.
The most controversial component of the sunshine policy has been the cash payments the Hyundai Group has made to North Korea, supported by the R.O.K. government.
This carry-forward mechanism allows pastorates to programme redecoration projects over two or three years.
In addition, the Company has entered into a Group Support Agreement with HSMA together with two other companies within the Hyundai Group of companies, and provided this agreement as collateral for the long-term borrowings of HSMA.
That Hyundai Group entertained relying on the citizens (and netizens), employees and small investors as a means to protect its corporate control also was quite uncharacteristic.