The Mando Corporation(KRX:060980)is located in Seoul, Korea and is the largest Korean Original equipment manufacturer

Original Equipment Manufacturer

An original equipment manufacturer, or OEM, manufactures products or components that are purchased by a company and retailed under that purchasing company's brand name. OEM refers to the company that originally manufactured the product. When referring to automotive parts, OEM designates a...

 and supplier to Hyundai Motor Company

Hyundai Motor Company

Hyundai Motor Company is a Korean multinational automaker based in Seoul, South Korea which, along with Kia, comprises the Hyundai Kia Automotive Group, the world's fourth largest automaker as of 2009. As of 2011, it is the world's fastest growing automaker for two years running...

 It is currently owned and run by the original founding parent company, Halla Group

Halla Group

Halla Group is a South Korean chaebol. It was originally founded as Hyundai International Inc. in 1962. The Halla name was first used in 1978 as the name of a cement company.. The name Halla is taken on the name of mount halla aka Hallasan mountain situated in Jeju Island. Halla collapsed in 1997...

  (as of March, 2008). It was handed over to Halla by Sunsage B.V, a daughter company of JP Morgan. Mando Corporation is currently supplying the Korean and the overseas automobile manufacturers, including the Big 3. Mando Corporation's sales turnover is estimated at USD

United States dollar

The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

$1.71Billion

Mando has three main areas of business: ^{(MANDO Korea only)}

1. Steering parts
2. Brake parts
3. Suspension parts

Mando has recently opened a joint-venture company with Hella

Hella (company)

Hella KGaA Hueck & Co. is an internationally operating German automotive part supplier with headquarters in Lippstadt, North Rhine-Westphalia. Core businesses are vehicle lighting and electronics systems and components. Hella is also involved in the areas of vehicle diagnostics and thermal...

, to produce ABS

Anti-lock braking system

An anti-lock braking system is a safety system that allows the wheels on a motor vehicle to continue interacting tractively with the road surface as directed by driver steering inputs while braking, preventing the wheels from locking up and therefore avoiding skidding.An ABS generally offers...

sensor software algorithm.

As mentioned above, Mando Corporation is primarily into OE sales, and a certain amount of aftermarket parts are available via its aftermarket division sales arm, Meister Inc.

History

Mando was created under the original founder of Halla Business Group, Mr. Jeong, In Yeong. A younger brother of Jeong, Ju Yeong (Hyundai Motor Company founder) on the 1st of October, 1962. Initially, the company was named Hyundai International Inc. and changed its name to Mando Machinery Corporation in February 1980. In 1988, Mando opened the Brake System Plant in Pyeongtaek and two years later, opened the Munmak Steering System Plant (currently renamed Wonju operations). By 1995, Mando Machinery had a suspension system plant in Iksan as well as a dedicated R&D center. Mando America Corporation (MAC) was founded in 1996.In 1999, during the financial crisis, Mando was sold to Sunsage and was promptly renamed as Mando Corporation.