Hyundai is associated with South Korea. Hyundai Motor Company, established in 1967, is the auto sales leader in the Korean domestic market and exports vehicles to 190 countries worldwide. Hyundai operates the worlds largest integrated automobile manufacturing facility in Ulsan, South Korea, which has an annual production capacity of 1.6 million units. The company employs about 75,000 people worldwide. Hyundai vehicles are sold in 193 countries through 5,000 dealerships and showrooms. The Hyundai Motor Group is a South Korean chaebol (loosely similar to a multinational conglomerate but without a central holding company or ownership structure) headquartered in Seoul, South Korea. The group was formed through the purchase of 51% of Kia by Hyundai Motor Company in 1998.