Hyundai Corporation is a South Korean company founded in 1976 as part of the Hyundai Group. It is composed of five divisions: Automobile and Electrical Equipment, Ship and Machinery, Steel, Brand Licensing and Commodities, and Natural Resources. These are supported by two departments: Financial Management and Corporate Planning, and Personnel Management. Hyundai Corporation owns Qingdao Hyundai Shipbuilding in China. It also owns in partnership with POSCO Pos-Hyundai Steel (steel trading & coil service center) at Irungattukottai near Chennai, India. It has 32 worldwide offices..