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Hyundai Development Company
Hyundai Development Company ((朝鮮語:현대산업개발)) was created in 1986 through the merger between Korea City Development established in 1976 and Halla Construction founded in 1977. Hyundai Development Company is the parent entity in HDC Group (Hyundai Development Company Group), which has subsidiaries in construction, petrochemicals, retail, property and financial management, healthcare, leisure, musical instrument production, sports and finance. Chung Mong-Gyu is the chairman and Park Chang-Min is the president.
== Overview ==
Hyundai Development Company was established through the merger between Hyundai Group’s two subsidiaries – Korea City Development founded in 1976 and Halla Construction founded in 1977. Korea City Development Company was created in 1976 when Hyundai Engineering & Construction separated its housing business. Korea City Development specialized in Hyundai Group’s housing construction business and built apartments under the brand name, Hyundai Apartment. Starting from Hyundai Apartment complex in Gangnam, Seoul, Korea City Development had built apartments around the country and emerged as the largest private housing builder in the early 1980s, introducing apartment as a new housing style in Korea. Halla Construction, founded by Chung In-yung, brother to Chung Ju-yung, the founder and former chairman of Hyundai Group, focused on civil engineering, plant and overseas businesses. Halla Construction built a number of power plants including Samcheonpo Thermal Power Plant, civil engineering projects such as road construction, land reclamation, port development and other various projects in Korea. Halla Construction actively pursued overseas business and undertook road, construction and plant projects in the Middle East and Southeast, starting from the Jizan cement plant project in Saudi Arabia in 1977.
Established in 1986, Hyundai Development Company has emerged as a comprehensive construction company, building up on Korea City Development’s strength in the housing business and Halla Construction’s leading position in the civil engineering segment. As Korea’s leading developer, Hyundai Development Company has maintained its leadership in the domestic housing market, been active in the construction, civil engineering and plant industries and expanded its businesses to include engineering and plastic materials with the establishment of the petrochemical unit. With the inauguration of Chairman Chung Mong-Gyu in 1999, Hyundai Development Company was separated from Hyundai Group in August 1999. Thereafter, Hyundai Development Company has evolved into the parent in HDC Group. Hyundai Development Company ranks top in the domestic housing market and is active in various technically demanding areas such as super high-rise buildings, spatial structures, roads, bridges, ports and plants. Hyundai Development Company launched a new brand, IPARK, in March 2001. As part of its efforts to fulfill its corporate social responsibilities, the company created a charity organization, IPARK Volunteers, in 2004 and established a scholarship organization, PONY Chung Foundation in 2005.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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