In 1947, a South Koren entrepreneur named Chung Ju Yun founded Hyundai Engineering and Construction Company. Two decades later he established the Hyundai Motor company and, with the technical support of Ford Motor Company, released the Hyundai Cortina in 1948. Soon after, the company produced the first Korean-developed car, the Hyundai Pony, and began exporting it to South America. By 1985, Hyundai had built its one-millionth vehicle. It started selling cars in the United States the following year. After acquiring its rival, Kia Motors in 1998, Hyundai became South Korea’s second-largest corporation. Today, Hyundai sells some of the highest quality cars in the world.