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The topic is Investment from Hyundai into U.S.
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Running Head: HYUNDAI MOTORS
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ECONOMIC IMPACT OF HYUNDAI MOTORS
Name
Institution
HYUNDAI MOTORS
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Hyundai Motor company is a South Korean multinational corporation,
specializing in the designing, manufacturing and retailing of automobile vehicles. The
company was started in the year 1967 by Chung Ju-Yung and has an affiliate known
as the Kia Motors which also began the same year. The company is currently rated
as the sixth largest company in the world in the manufacturing and retailing of the
motor vehicles. The company has its main headquarter in Seoul, South Korea and has
an integrated manufacturing plant in the Ulsan South Korea Jurevicius, 2016). This
paper will focus on the economic impact of the Hyundai Motor Company to the US
economy.
The company operates in more than 193 countries in the world, with its vehicles
being sold in all the ch cities of the world. The company employees a total of 104,734
people in the world. The compound generates a total of $76 billion annual revenues
which translates into a net income of $6.5 billion dollars. The company has total
assets worth $125 billion and additional equity of $53.4 billion. The company has a
production output of 5000 million units. The company Is ranked the sixth largest
company in the world since it sold 7.3 million vehicles in 2012, rising from the eighth
position in the year 2008 where it had sold a total of 4.4 million vehicles. This makes
Hyundai motors the fastest growing motor company in the world (Hill, Menk, &
Cregger, 2011)..
Economic impact of Hyundai Motors in the US
Hyundai Motor group comprising of the Hyundai Motor company and the KIA
Motors company entered the US market in the year 1992, and have dominated the
market ever since by producing vehicles with comparative advantage. Their vehicles
have gained a competitive advantage in the American market since many customers
HYUNDAI MOTORS
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prefer their products due to...