INTERNATIONAL NEWS: Hyundai taps B-M for five-way split

SEOUL: Hyundai Group, Korea’s largest conglomerate, has hired Burson-Marsteller to handle communications for the company’s upcoming split into five independent business groups. The assignment, which followed a pitch including Forrest International, Hill & Knowlton and Shandwick, is worth in the six-figure range.

SEOUL: Hyundai Group, Korea’s largest conglomerate, has hired Burson-Marsteller to handle communications for the company’s upcoming split into five independent business groups. The assignment, which followed a pitch including Forrest International, Hill & Knowlton and Shandwick, is worth in the six-figure range.

SEOUL: Hyundai Group, Korea’s largest conglomerate, has hired

Burson-Marsteller to handle communications for the company’s upcoming

split into five independent business groups. The assignment, which

followed a pitch including Forrest International, Hill & Knowlton and

Shandwick, is worth in the six-figure range.



The 35 affiliates that currently make up the dollars 90 billion Hyundai

Group will be divided into five sub-groups, which will become

independent by 2003. Burson will work with the Hyundai Corporation

Restructuring Committee, chaired by Jae-Soo Kim, on issues arising

during the split. ’This is a critical time of change for Korea and for

Hyundai,’ Kim explained.



Merit/Burson-Marsteller representative director Bryan Matthews said the

Hyundai account will tap the firm’s resources in Hong Kong, New York

and other financial centers. ’The tendency for the big Korean groups

has been to do as much of their PR as possible in-house,’ he said. ’The

very fact that a group of Hyundai’s stature has sought outside counsel

is in itself a reflection of the changes taking place here.’



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