SEOUL: Hyundai Group, Korea’s largest conglomerate, has hired
Burson-Marsteller to handle global PR for the group’s break up into five
independent business groups.
The appointment follows a four-way pitch, believed to have included
Forrest International, Hill & Knowlton and Shandwick who competed for a
’six-figure’ corporate and financial account.
The 35 affiliates, which currently make up the pounds 56 billion Hyundai
Group, will divide into five sub-groups which will become independent by
Four of the groups will be construction, electronics, heavy industry,
and financial services. Hyundai Motor group does not fall under B-M’s
B-M will be working closely with the Hyundai Corporation Restructuring
Committee chaired by Jae-Soo Kim.
Co-ordinated out of Seoul by Merit/Burson-Marsteller, B-M will use its
offices in Hong Kong, New York and other financial centres.
Kim said the reforms being introduced were of major national
’This is a critical time of change for Korea and for Hyundai Group,’ he
er, we recognise that our focus today has to be seen on efficiency of
operations and a commitment to shareholder value,’ he said.