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Hyundai was a multinational conglomerate company headquartered in Seoul and one of the largest South Korean chaebol. It was founded by Chung Ju-yung in 1947 as a construction company and Chung was the CEO and directly in control of the company until the end of his life. Two of the best-known Hyundai subsidiaries were Hyundai Motor Company, the world's fourth-largest automobile manufacturer by volume as of January 2011, and Hyundai Heavy Industries, currently the world's largest shipbuilder.