The Hyundai is Korean conglomerate, founded by Chung Ju-Yong. After the Asian financial crisis, the company has transferred of the majority of businesses, including «Hyundai Motor Group», «Hyundai Department Store Group», and «Hyundai Heavy Industries Group» to the special units. The first company of the group was founded in 1947 as a car repair workshop. Later it became the engineering and construction company. In 1998, Hyundai took over Korean automobile construction company Kia Motors. In 2000, the company entered into a strategic alliance with DaimlerChrysler, which existed for several years. According to the data for 2006, Hyundai factory consisting of five enterprises in Korean city Ulsan was considered the largest automobile plant in the world.