Rahul Sharma (Editor)

Hyundai Development Company Group

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Founded
  
August, 1999

Website
  
www.hyundai-dvp.com/en

Headquarters
  
South Korea

Key people
  
Chung Mong-Gyu (Chairman)

Hyundai Development Company Group (HDC) is a large-scale business group. Structured around and led by Hyundai Development Company, HDC Group is engaged in various business areas including petrochemicals, retail, property and financial management, healthcare, leisure, musical instrument production, sports, and finance. The chairman of HDC Group is Chung Mong-Gyu.

Contents

Overview

HDC Group originated from Hyundai Group. HDC Group was separated from Hyundai Group in August 1999 with the inauguration of Chairman Chung Mong-Gyu. Under the leadership of Hyundai Development Company, a comprehensive construction company, HDC Group is engaged in various business areas such as construction, petrochemicals, retail, property and financial management, healthcare, leisure, musical instrument production, sports and finance. As of June 2013, HDC Group consists of 23 companies including Hyundai Development Company.

The parent company, Hyundai Development Company, is Korea’s 9th largest comprehensive construction company in terms of construction capacity in 2013. Hyundai Development Company has a market-leading position in the private housing construction segment and has been active in high-tech areas such as super-rise buildings, spatial structures, roads, bridges, ports and plants. Its key subsidiaries include I&Cons, Hyundai EP (Engineering Plastics), Hyundai IPARK Mall, I-Service, I-Controls, Hotel IPARK, Young Chang Music, IPARK Sports, HDC Asset Management. I&Cons is specialized in small to midsize property development, design and consulting. Hyundai EP is a new materials supplier and manufactures high-tech engineering plastic materials. Hyundai IPARK Mall is an operator and developer of IPARK Mall, the largest multi-purpose entertainment venue in Asia. I-Service provides comprehensive property management and healthcare services. I-Controls develops and supplies high-tech, eco-friendly integrated building solutions(IBS), smart home systems, traffic and logistics management solutions and LED lighting. Hotel IPARK is a top-notch hotel chain which operates Park Hyatt Seoul and Park Hyatt Busan. Young Chang Music is Korea’s leading musical instrument manufacturer, established in 1956 as a piano manufacturer, and joined HDC Group in 2005. Young Chang Music exports string, wind, and percussion instruments to 80 countries around the world. In addition, HDC Group has IPARK Sports, which operates Busan IPARK Professional Football Club, and HDC Asset Management under its umbrella.

History

  • March 1976 Korea City Development was established as part of Hyundai Group.
  • October 1977 Halla Construction was established as part of Hyundai Group.
  • November 1986 Hyundai Development Company was created through the merger between Halla Construction and Korea City Development.
  • June 1994 Shares of Hyundai Development Company were registered on the over-the-counter market.
  • October 1996 Hyundai Development Company was listed on the Korea Stock Exchange.
  • January 1999 Yongsan Station Development Corporation was established as a subsidiary.
  • April 1999 Honorary Chairman Chung Se-young and Chairman Chung Mong-Gyu were inaugurated.
  • August 1999 Hyundai Development Company was separated from Hyundai Group.
  • October 1999 A subsidiary, I-Controls, was established.
  • December 1999 A subsidiary, I-Service, was established.
  • January 2000 Hyundai Development Company transferred the polycarbonate business to Hyundai PC Engineering (current Hyundai EP)
  • March 2000 Hyundai Development Company created a professional soccer club, Busan I'Cons (current Busan IPARK ) and a subsidiary, I&Cons.
  • July 2000 Hyundai Development Company established a subsidiary, I Investment Trust & Management (current HDC Asset Management)
  • April 2002 Hyundai Development Company established a subsidiary Hyundai Station (current Hyundai IPARK Mall).
  • October 2004 Hyundai Station opened Space 9 in the Yongsan Station Complex.
  • December 2004 IPARK Volunteers, a charity organization, was established
  • April 2005 Hyundai Development Company established Hotel IPARK, which opened Park Hyatt Seoul.
  • October 2005 PONY Chung Scholarship Foundation, Aa non-profit organization, was established.
  • May 2006 Hyundai Development Company acquired Young Chang Musical Instrument (current Young Chang Music).
  • August 2006 Hyundai Development Company established Hyundai IPARK Mall and IPARK Department Store.
  • May 2007 PONY Chung Foundation hosted the 1st Innovation Award
  • September 2007 IPARK Volunteers was awarded the encouragement prize from Seoul Social Welfare Convention.
  • May 2008 PONY Chung Foundation opened PONY Chung Hall.
  • January 2012
  • Hyundai Development Company relocated HQs and released the new corporate identity.
  • I Investment Trust & Management was renamed to HDC Asset Management.
  • Young Chang Musical Instrument was renamed to Young Chang Music.
  • April 2012 Hyundai Development Company established a branch in Vietnam
  • February 2013 Hotel IPARK opened Park Hyatt Busan.

    • References

    Hyundai Development Company Group Wikipedia
    (Text) CC BY-SA