Simplify the following text for a Grade 9 native English-speaking person.
Original: The company has owned 7 subsidiary company which are Hyundai Engineering Co. , Ltd. , Hyundai Equipment & Steel Industries , Hyundai Design , Hyundai Farm , Hyundai CNI , Hyundai Hillstate and Hyundai Education .
Simplified: The company was founded by Chung Ju-yung in 1947 as the Hyundai Civil Works Company , and was a major component of the Hyundai Group . Hyundai Construction and Hyundai Engineering merged in 1999 .