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Hyundai Engineering & Construction facts for kids

Kids Encyclopedia Facts
Not to be confused with Hyundai Engineering (HEC).
Hyundai Engineering & Construction Co., Ltd.
Native name
현대건설 주식회사
Public
Traded as KRX: 000720
Industry Construction
Founded 1947; 77 years ago (1947)
Founder Chung Ju-yung
Headquarters
Seoul
,
South Korea
Area served
 Worldwide
Key people
 Yoon Young-joon (President & CEO)
Lee Won-Woo (EVP)
Kim Kwang-Pyung (SVP & CFO)
Parent Hyundai Motor Company
Hyundai Engineering & Construction
Hangul 현대건설
Hanja 現代建設
Revised Romanization Hyeondae Geonseol
McCune–Reischauer Hyŏndae Kŏnsŏl

Hyundai Engineering and Construction Co., Ltd. (HDEC; Hangul: 현대건설 주식회사) is a major construction company in South Korea. The company was founded by Chung Ju-yung in 1947 as the Hyundai Civil Works Company and was a major component of the Hyundai Group. Hyundai Construction and Hyundai Engineering merged in 1999.

Hyundai Construction played a major role in the importation of Korean laborers to the Middle East to work on construction projects in the 1970s and 1980s. In the decade following 1975, Hyundai signed their first contract in the region for construction of a shipyard for the Iranian Navy near Bandar-e Abbas. 800,000 Koreans went to work in Saudi Arabia and another 25,000 went to Iran; Hyundai was their largest employer.

Under creditors' management with Korea Exchange Bank as the largest creditor, Hyundai Group was split into several entities from 2001 to 2006. As of March 2007, HDEC is the main shareholder of Hyundai Merchant Marine, which is the de facto holding company of Hyundai Group. Hyundai Group and Hyundai Motor Group (another spin-off from Hyundai Group) are both vying to purchase HDEC.

In 2011, Hyundai Motor Group became the new owner of Hyundai Eng. & Const., Co., Ltd. This was determined by Korean banks' decision after defeating Hyundai (Merchant marine: the 2nd largest shipping co., in Korea after Hanjin shipping) Group.

Key landmark construction sites

  • Bangabandhu Bridge, Bangladesh
  • Kyeong-bu (Seoul-Busan) express way
  • North Han river, Soyanggang Dam, multipurpose Dam
  • Seoul Gangnam apartment introduction in Korea during 1970
  • Hyundai Ulsan shipyard
  • Hyundai Motor Ulsan complex
  • Ulsan Industrial complex
  • Posco Giant Pohang and Gwangyang (South-west of Korean peninsula) com
  • Jabel Ali Industrial harbour construction
  • Suntec City tower project, Singapore
  • Ulsan Grand Bridge
  • Geogeum Grand Bridge
  • Masan Changwon Grand Bridge
  • Sheikh Jaber Al-Ahmad Al-Sabah Causeway, Kuwait
  • Lusial Expressway, Qatar
  • Construction of  Al Bustan Street South Project -Sabah Al ahmad Corridor -Qatar

Notable people

The former president of South Korea, Lee Myung-bak, was a former CEO of Hyundai Engineering and Construction.

See also

  • Suwon Hyundai Engineering & Construction
  • Economy of South Korea
  • CentGas consortium
  • List of companies of South Korea