History of Halla Group is in tandem with the history of Korean heavy industry development.
Mr. Chung In-yung, Honorary Chairman, firmly believed development of the heavy industry was the only way to shed poverty and make his country well-off. He acted on his belief in 1962, by founding Hyundai International Inc., the predecessor of the present day Halla Group, which was back then a pioneering step.
Hyundai International later built its casting factory and mechanical manufacturing complex in Gunpo, Gyeonggi-do in 1972. After that, urged by the government, the company launched the construction of a large-scale mechanical manufacturing complexes in Changwon in 1976.
Simultaneously, the Korean government began implementing its first 5-year economic development plan, starting from 1962. With that, identity of the Korean industry began to transition from light industry to heavy industry. Though the company had its moments of difficulties, losing Hyundai International for example, Halla Group has emerged as the industry’s 12th largest company, with its flagship firms such as Mando, Halla Heavy Industry, Halla Cement, and Halla Engineering & Construction. In 1997, the Asian foreign currency crisis struck the company, but it successfully completed restructuring. Now, Halla is preparing for its second leap of faith, advancing into auto parts, construction, distribution, port, investment, education, sports, and many more areas.