BOARD PAPER

Board Paper: Develop an Export Strategy for an Organisation

Board Paper: Develop an Export Strategy for an Organisation

Brief Synopsis of the Issue

This paper will be presenting an export strategy for Hyundai Company. We will be discussing how the company is performing currently and how they can expand their business in UK. The Hyundai Motor Company is a South Korean automobile manufacturer, part of the Hyundai KIA Automotive Group, the largest automakers in the 5th Korea and annual sales worldwide, was founded in 1967 by Chung Ju-yung. Headquartered in Seoul, Hyundai plant operates an automobile in Ulsan; the world's largest with a capacity of up to 1.6 million units per year. Logo of Hyundai, the letter "H" is written so stylishly, representing the company image and the taste of customers (Keegan, 1989: 65).

Background

In 1947, Chung Ju-yung founded the Hyundai Construction Company and Engineering. In 1967, Only Hyundai Motor Company formed. In 1968, cooperation of Hyundai with Ford Motor Company introduced the first model of society that was Cortina. Pony, the first automobile factory in Korea in 1975, was designed by Giorgio Giugiaro in Italian style, with technology driving provided by Mitsubishi Motors (Anderson & Coughlan, 1987: 71). The following year, sales of Hyundai were exported to Ecuador and quick access to the markets of the Benelux countries (Belgium, Netherlands and Luxembourg). In 1991, Hyundai opened the way for its patented technology to develop gasoline engines with success, I4 Alpha and transmission.

Research on the Assessment Topic

In the new millennium, Hyundai Motor Company was focusing on strengthening its international position. In 2001, the plant in Chennai (India) had started production of Hyundai Sonata. Chairman and CEO of Hyundai Motor Co. Mong Koo Chung during his next visit to the inspectorate company manufacturing facilities located in Chennai, said that Hyundai Motor Co. built in India the second car assembly plant. The second enterprise HMIL has the capacity of 150,000 vehicles a year which built on an area of ??2.1 million square meters adjacent to the existing manufacturing facility in Chennai. When completed in 2007, the company produced 400,000 cars annually in HMIL, Chennai (Shipley & Neale, 1999: 49). In 2002, Hyundai Motor Co. together with the Beijing Automotive Industry Holding Co. created a company Beijing Hyundai Motor Co., which has become China's second automobile plant of Hyundai KIA Automotive Group. By 2010, HMC plans to invest about 1.1 billion dollars in the joint (50-50) Enterprise, including an initial investment of $ 100 million and additional investments of $ 330 million by 2005.

December 18 2003, Hyundai and the entire Korean automobile industry achieved an outstanding result - export performance of the company for the first time, crossed the bar in one million cars. This excellent result was obtained 27 years later after the first export deal of Hyundai. In 2005, Hyundai Motor Company had announced its new global brand management strategy, which aimed to upgrade the company's image, allowing her to become a leading international automaker and raise its brand to the level of ...