Chung Ju-yung or Jung Joo-young (; November 25, 1915 – March 21, 2001), was a South Korean entrepreneur, businessman and the founder of
Hyundai Hyundai is a South Korean industrial conglomerate ("chaebol"), which was restructured into the following groups:
* Hyundai Group, parts of the former conglomerate which have not been divested
** Hyundai Mobis, Korean car parts company
** Hyundai ...
Groups, one of the largest
chaebols in
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea. Its western border is formed by the Yellow Sea, while its eas ...
. Raised as the eldest son of a poor Korean farmer, he became the richest man in South Korea. Chung was an integral part to the rapid development of Korea's economy, growing
Hyundai Heavy Industries to be the largest ship builder in the world, as well as growing
Hyundai Motor Group
The Hyundai Motor Group (HMG; ; ; stylized as HYUΠDAI) 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 HM ...
into the largest automobile manufacturer in Korea, and the third largest in the world. Chung was also a vital contributor to the development of South Korea's infrastructure after the Korean War's destruction of infrastructure, such as constructing the
Gyeongbu Expressway in 1970, connecting the capital, Seoul, to the port city of Busan, in alliance with the President
Park Chung Hee
Park Chung-hee (, ; 14 November 1917 – 26 October 1979) was a South Korean politician and army general who served as the dictator of South Korea from 1961 until his assassination in 1979; ruling as an unelected military strongman from 1961 ...
.
Chung's business ventures steered through the tumultuous times of
Japanese colonial rule in Korea as well as the post-
Korean War
, date = {{Ubl, 25 June 1950 – 27 July 1953 (''de facto'')({{Age in years, months, weeks and days, month1=6, day1=25, year1=1950, month2=7, day2=27, year2=1953), 25 June 1950 – present (''de jure'')({{Age in years, months, weeks a ...
stresses on the economy.
Chung explained his success in his statement: "Our people succeeded because they devoted their enterprising spirits. They used the forces of other mind. Conviction ... creates indomitable efforts. This is the key to (true) miracles ... Man's potential is limitless."
Life
Early life
Chung Ju-yung was born in
Tongchon
T'ongch'ŏn County is a ''kun'', or county, in Kangwŏn province, North Korea. It abuts the Sea of Japan (East Sea of Korea) to the north and east. Famous people from T'ongch'ŏn include Hyundai Founder Chung Ju-yung, who is believed to have be ...
,
Kangwondo,
Chōsen
Between 1910 and 1945, Korea was ruled as a part of the Empire of Japan. Joseon Korea had come into the Japanese sphere of influence with the Japan–Korea Treaty of 1876; a complex coalition of the Meiji government, military, and business offici ...
(today located in
Kangwon Province in
North Korea
North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korean Peninsula and shares borders with China and Russia to the north, at the Yalu (Amnok) and T ...
). Born to a large impoverished family of peasants, he was the eldest of seven children. As a young boy, Chung dreamed of becoming a school teacher, but his hopes were cut short because the restrictive environment at the time kept the family stuck in poverty, effectively keeping Chung away from
higher educational opportunities. Despite the setbacks, Chung was able to attend a local
Confucian
Confucianism, also known as Ruism or Ru classicism, is a system of thought and behavior originating in ancient China. Variously described as tradition, a philosophy, a religion, a humanistic or rationalistic religion, a way of governing, or ...
school run by his grandfather whenever his time was not taken up by tasks on the family farm.
Chung's talent for
business became apparent during his trips into town where he would sell wood. The fast-paced atmosphere of the town along with the articles in
newspapers
A newspaper is a periodical publication containing written information about current events and is often typed in black ink with a white or gray background.
Newspapers can cover a wide variety of fields such as politics, business, sports ...
Chung read sparked his
imagination; he soon grew tired of the
poverty that he and his family had to endure.
First escape attempt
At the age of sixteen, Chung and a friend decided to travel to the city of
Seishin (Chongjin, currently in
North Korea
North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korean Peninsula and shares borders with China and Russia to the north, at the Yalu (Amnok) and T ...
) for work in hopes of escaping the harsh realities of farm life.
[Chung ju yung](_blank)
After a 15-mile trek through the most dangerous parts of the
Paechun valley, the pair reached the town of
Kōgen
was a after '' Kenchō'' and before ''Shōka.'' This period spanned the years from October 1256 to March 1257. The reigning emperor was .Titsingh, Isaac. (1834) ''Annales des empereurs du Japon'', pp. 248-253 Varley, H. Paul. (1980). ''Jinnō S ...
(Kowon, currently in North Korea) where they took up jobs as
construction workers.
They worked long hours for low pay but Chung enjoyed the fact that he could earn money independently. Chung and his friend continued the work for two months until Chung's father learned of their whereabouts.
Second escape attempt
The journey that Chung and his friend had embarked on made him realize his passion for
civil engineering
Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads, bridges, canals, dams, airports, sewa ...
and gave him a sense of accomplishment. Once he returned to his home village of Gasan-ri in Tsūsen-gun, he devised another escape plan: this time towards
Keijō
Keijō, or Gyeongseong, was an administrative district of Chōsen that corresponds to the present Seoul, the capital of South Korea. :ko:경성부, -(Seoul of Korea under Japanese rule)
Honmachi
The central district of Gyeongseong was ...
(formerly
Hanseong
Seoul (; ; ), officially known as the Seoul Special City, is the capital and largest metropolis of South Korea.Before 1972, Seoul was the ''de jure'' capital of the Democratic People's Republic of Korea (North Korea) as stated iArticle 103 ...
, currently
Seoul
Seoul (; ; ), officially known as the Seoul Special City, is the capital and largest metropolis of South Korea.Before 1972, Seoul was the ''de jure'' capital of the Democratic People's Republic of Korea (North Korea) as stated iArticle 103 of ...
). With two companions, Chung left for Keijō in April 1933.
The journey seemed destined for failure, especially since one of the boys was caught by a sibling early on. More misfortune came upon them when Chung and his friend were conned by a stranger who promised them jobs but instead took all of their money. The journey came to an end when Chung's father found the two staying at Chung's grandfather's house nearby.
Third escape attempt
Chung once again found himself in Asan, where he remained for a year helping his father work on the family farm. Once his duties to the family were complete, Chung decided it was time to make another attempt at getting out of poverty. He managed to get a train ticket for 70
won by selling one of his father's cows.
Once he arrived in Keijō, Chung enrolled himself in a local
bookkeeping school hoping to start a career as an
accountant. Things went smoothly for two months when his father managed to find him and after a mild argument, took him back to Gasan.
Rice merchant
In 1933,
at the age of 18, Chung decided to make a fourth attempt to escape. He left during the night with a friend who was trying to escape a
forced marriage
Forced marriage is a marriage in which one or more of the parties is married without their consent or against their will. A marriage can also become a forced marriage even if both parties enter with full consent if one or both are later force ...
.
Once Chung reached Keijō, he jumped at any job he could find. He worked first as a laborer at
Jinsen
Incheon (; ; or Inch'ŏn; literally "kind river"), formerly Jemulpo or Chemulp'o (제물포) until the period after 1910, officially the Incheon Metropolitan City (인천광역시, 仁川廣域市), is a city located in northwestern South Kore ...
Harbor (Incheon, currently in
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea. Its western border is formed by the Yellow Sea, while its eas ...
),
a construction worker at Boseong Professional School and as a handyman for a starch syrup factory.
After working at the syrup factory for nearly a year, Chung managed to land a job as a
deliveryman at the Bokheung Rice Store in Keijō.
Chung's new job offered him room for advancement and as he became more successful at it, he decided to stay on full-time. He eventually won the praise of the rice store's core customers which impressed the owner so much that he allowed Chung to manage the store's accounting after only six months on the job. His experiences as the store
accountant helped him to thoroughly develop his business sense.
In 1937, the owner of the rice store became ill and decided it would be in his best interest to give the store to Chung. At 22 years of age, Chung became the store owner and changed the name of the store to Kyungil Rice Store.
The store grew and made good profits until early 1939 when Japan, in its war efforts to secure rice supplies for the country and its military, imposed an oppressive rice-rationing system which forced Korean businesses out of trading rice.
Creation of Hyundai
A-do Service Garage
Chung returned to his
village
A village is a clustered human settlement or community, larger than a hamlet but smaller than a town (although the word is often used to describe both hamlets and smaller towns), with a population typically ranging from a few hundred ...
once his business failed and remained there until 1940, when he decided to try again in Keijō. After considering the reality of restrictions imposed on Koreans in certain industries by the Japanese colonial government, Chung decided to enter the
automobile
A car or automobile is a motor vehicle with wheels. Most definitions of ''cars'' say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people instead of goods.
The year 1886 is regarde ...
repair business. Using a service garage he purchased from a friend, Chung started the A-do Service Garage on a 3,000
won loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that ...
. Within three years, the number of employees grew from 20 to 70 and Chung was able to earn a good income. In 1943, the Japanese colonial government forced the garage to merge with a steel plant as part of the war effort.
Although his businesses were shut down due to suppression by the Japanese, Chung returned to Gasan with 50,000
yen
The is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar (US$) and the euro. It is also widely used as a third reserve currency after the US dollar and the e ...
in savings to try to make the best of the situation.
Hyundai
In 1946, after the
liberation of Korea from Japanese control, Chung started
Hyundai Hyundai is a South Korean industrial conglomerate ("chaebol"), which was restructured into the following groups:
* Hyundai Group, parts of the former conglomerate which have not been divested
** Hyundai Mobis, Korean car parts company
** Hyundai ...
and Hyundai Civil Industries in anticipation of the post-war reconstruction and industrialization. Chung won major government contracts and became responsible for building much of South Korea's transportation infrastructure, including the
Soyang Dam
The Soyang Dam, also referred to as the Soyanggang Dam, is an embankment dam on the Soyang River, northeast of Chuncheon in Gangwon-do Province, South Korea. The purpose of the dam is flood control, water supply and hydroelectric power generat ...
in 1967, the
Gyeongbu Expressway in 1970, the world's largest
shipyard in
Ulsan
Ulsan (), officially the Ulsan Metropolitan City is South Korea's seventh-largest metropolitan city and the eighth-largest city overall, with a population of over 1.1 million inhabitants. It is located in the south-east of the country, neighboring ...
, the
Kori Nuclear Power Plant
The Kori Nuclear Power Plant (Korean: 고리원자력발전소, Hanja: 古里原子力發電所) is a South Korean nuclear power plant located in Kori, a suburban village in Busan. It is the world's largest fully operational nuclear generating s ...
among others. Chung also won contracts from the
United States Forces Korea
United States Forces Korea (USFK) is a sub-unified command of U.S. Indo-Pacific Command (USINDOPACOM). USFK is the joint headquarters for U.S. combat-ready fighting forces and components under the ROK/US Combined Forces Command (CFC) – a ...
to build facilities for their personnel as his younger brother could speak English and was on good terms with the
U.S. Army engineers.
During the
North Korean invasion of 1950, Chung abandoned his construction projects and fled with his younger brother to
Busan
Busan (), officially known as is South Korea's most populous city after Seoul, with a population of over 3.4 million inhabitants. Formerly romanized as Pusan, it is the economic, cultural and educational center of southeastern South Korea, ...
for safety. His son,
Chung Mong-joon
Chung Mong-joon or Chung Mong Joon ( ko, 정몽준, born October 17, 1951) is a South Korean businessman and politician. He is the sixth son of Chung Ju-yung, founder of Hyundai, the second-largest South Korean '' chaebol'' before its breakup in ...
was born there. Chung continued to build onto the company by gathering any kind of work he could get from the
United Nations Command
United Nations Command (UNC or UN Command) is the multinational military force established to support the Republic of Korea (South Korea) during and after the Korean War. It was the first international unified command in history, and the first a ...
and the
Korean Ministry of Transportation.
Once
Seoul was retaken by U.N. forces, Chung reestablished the company and continued to gather more work from the Americans.
From then on, Chung continued to grow and diversify the company into one of South Korea's major
chaebol (conglomerate). With no experience in shipbuilding, he created the Ulsan shipyard, the largest shipyard in the world. The first vessel was completed in three years (rather than the expected five) as Chung had the shipyard and vessel built simultaneously. He introduced the
Hyundai Pony
The Hyundai Pony (Hangul: 현대 포니), is a small rear wheel drive automobile produced by the South Korean manufacturer Hyundai from 1975 until 1990. The Pony was South Korea's first mass-produced and exported car. The Pony nameplate remained ...
in 1975 and the
Hyundai Excel
The Hyundai Excel (), also known as the Hyundai Pony, Hyundai Pony Excel, Hyundai Presto, Mitsubishi Precis and Hyundai X2, is an automobile which was produced by Hyundai Motor Company from 1985 to 2000. It was the first front-wheel drive car pr ...
in 1986 using European expertise.
Later years
From the 1980s until recently, the Hyundai Group was split into many satellite groups. Chung had a very successful career. In
Seosan
Seosan () is a city in South Chungcheong Province, South Korea, with a population of roughly 175,000 according to the 2017 census. Located at the northwestern end of South Chungcheong Province, it is bounded by Dangjin City, Naepo New Town, Yes ...
, he carried out a successful reclamation project, using a decommissioned
oil tanker
An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined cru ...
as a
cofferdam
A cofferdam is an enclosure built within a body of water to allow the enclosed area to be pumped out. This pumping creates a dry working environment so that the work can be carried out safely. Cofferdams are commonly used for construction or re ...
.
[Amazon (2010).]
Korean Founders of Automobile Manufacturers
. In 1998, he herded 1,001 cows through the
Korean Demilitarized Zone
The Korean Demilitarized Zone ( Korean: ; Hanbando Bimujang Jidae) is a strip of land running across the Korean Peninsula near the 38th parallel north. The demilitarized zone (DMZ) is a border barrier that divides the peninsula roughly in ...
to
North Korea
North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korean Peninsula and shares borders with China and Russia to the north, at the Yalu (Amnok) and T ...
, which he claimed was a repayment 1,000 times over for a cow he took to afford his ticket when he escaped his father's farm. Chung was the first civilian to cross the Korean DMZ since the
division of Korea
The division of Korea began with the defeat of Japan in World War II. During the war, the Allied leaders considered the question of Korea's future after Japan's surrender in the war. The leaders reached an understanding that Korea would be l ...
.
He was the first to propose the
Geumgangsan
Mount Kumgang () or the Kumgang Mountains is a mountain massif, with a summit, peak, in Kangwon-do (North Korea), Kangwon-do, North Korea. It is located on the east coast of the country, in Mount Kumgang Tourist Region, formerly part of Kangwo ...
sightseeing excursions.
He founded the Hyundai Heavy Steel Company which developed a non-dock ship-making method.
Chung's philanthropy distinguished him from the other businessmen of his generation. In 1977, he founded the
Asan Foundation with a scope of activities comparable to those of the
Ford
Ford commonly refers to:
* Ford Motor Company, an automobile manufacturer founded by Henry Ford
* Ford (crossing), a shallow crossing on a river
Ford may also refer to:
Ford Motor Company
* Henry Ford, founder of the Ford Motor Company
* Ford F ...
or
Rockefeller Rockefeller is a German surname, originally given to people from the village of Rockenfeld near Neuwied in the Rhineland and commonly referring to subjects associated with the Rockefeller family. It may refer to:
People with the name Rockefeller f ...
foundations. The foundation was organized into four major areas of service: medical support, social welfare, research and development, and a scholarship fund. Through its efforts, the foundation established nine hospitals throughout South Korea, built Ulsan Medical College, and funded the Asan Life Sciences Research Institute. The foundation also initiated cooperative arrangements between industry and academic institutions by supporting such academic research as the Sinyoung Research Fund.
In 1982, Chung received the Golden Plate Award of the
American Academy of Achievement
The American Academy of Achievement, colloquially known as the Academy of Achievement, is a non-profit educational organization that recognizes some of the highest achieving individuals in diverse fields and gives them the opportunity to meet ...
.
Political activities
Chung is credited with successfully lobbying for South Korea to host the
1988 Summer Olympics
The 1988 Summer Olympics (), officially known as the Games of the XXIV Olympiad () and commonly known as Seoul 1988 ( ko, 서울 1988, Seoul Cheon gubaek palsip-pal), was an international multi-sport event held from 17 September to 2 October ...
. This success highlighted the accomplishments of his generation in the eyes of the world and became a source of great pride to the people of Seoul. In 1992 the
International Olympic Committee
The International Olympic Committee (IOC; french: link=no, Comité international olympique, ''CIO'') is a non-governmental sports organisation based in Lausanne, Switzerland. It is constituted in the form of an association under the Swiss ...
awarded Chung an IOC Medallion for his contributions to sports as a vehicle of international understanding.
Chung ran unsuccessfully as a
Unification National Party
The Unification National Party ( ko, 통일국민당, Tongilgugmindang) was a political party which was founded in 1992 by Chung Ju-yung, founder of Hyundai Group.
History
The party was founded in January 1992 ahead of the 1992 legislative elec ...
presidential candidate for the
1992 South Korean presidential election
Presidential elections were held in South Korea on 18 December 1992, the second democratic presidential elections since the end of military rule in 1987. Voter turnout was 81.9%.
In the first regular presidential election with no military candid ...
.
Chung also worked to normalize
relations between the two Koreas. In 1998, at the age of 82, he worked with the South Korean government to provide economic assistance to the North. President
Kim Dae-jung
Kim Dae-jung (; ; 6 January 192418 August 2009), was a South Korean politician and activist who served as the eighth president of South Korea from 1998 to 2003.
He was a 2000 Nobel Peace Prize recipient for his work for democracy and human ...
wanted to provide a $100 million donation as a way to jump-start economic development in North Korea under his
Sunshine Policy
The Sunshine Policy () is the theoretical basis for South Korea's foreign policy towards North Korea. Its official title is The Reconciliation and Cooperation Policy Towards the North (), and it is also known as The Operational Policy Towards the ...
. However, Kim could not find a legal way to transfer the funds. He turned to Chung, who was already negotiating a large program with the North. Kim persuaded Chung to increase his investment by $100 million with money from secret loans provided by the government-controlled
Korea Development Bank
Korea Development Bank (KDB Bank, SWIFT: KODBKRSE) is a wholly state-owned policy development bank in South Korea. It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedit ...
. The historic
2000 inter-Korean summit
2000 inter-Korean summit was a meeting between South Korean president Kim Dae-jung and the Democratic People's Republic of Korea's supreme leader Kim Jong-il, which took place in Pyongyang from June 13 to June 15, 2000. It was the first inter-Kore ...
took place, with Chung traveling across the border in a motorcade of cars containing some 1001 "
unification cows" as a gift to the North Korean people.
Death
Chung died at the age of 85 of
natural causes at his home in Seoul, and he was buried in accordance to
Buddhist
Buddhism ( , ), also known as Buddha Dharma and Dharmavinaya (), is an Indian religion or philosophical tradition based on teachings attributed to the Buddha. It originated in northern India as a -movement in the 5th century BCE, and ...
and Confucian customary rites. His wife, Byun Joong-seok, died on August 17, 2008, at the age of 88, due in part to long-term heart complications, and was buried in a family graveyard in
Hanam
Hanam () is a city in Gyeonggi Province, South Korea. Formerly a part of Gwangju County, it was designated a city in 1989. The ancient Baekje capital of Hanam Wiryeseong may have been located there.
Lying immediately east of Seoul, Hanam is ...
, along with her husband and their son.
Legacy
As one of the most recognized and admired business men in
Korean history
The Lower Paleolithic era in the Korean Peninsula and Manchuria began roughly half a million years ago.
Christopher J. Norton, "The Current State of Korean Paleoanthropology", (2000), ''Journal of Human Evolution'', 38: 803–825.
The earliest ...
, Chung's identity still pervades modern Korean society and industry. Business-related events emphasizing creativity and innovation have been named after him. Much of the current success of Hyundai is widely attributed to Chung's insight and resolution, ideals that the contemporary Hyundai leadership vow to keep.
Books
* ''Trials May Not Fail'' (시련은 있어도 실패는 없다)
* ''Born in This Land'' (이 땅에 태어나서)
*''Your Lips Need to Burn if You Plan to Succeed'' (입이 뜨거워야 성공할 수 있다)
Family
Chung Ju-yung had five brothers and one sister; he had eight sons and one daughter with his wife. In addition, he had two illegitimate daughters with a younger woman, with whom he started a relationship in 1973; these daughters were not acknowledged until after his death.
[
]
Brothers
* (1920–2006). After leaving the Hyundai Group, he founded the Halla Group, whose interests included Mando Machinery, Halla Cement, Halla Construction, Halla Heavy Industries, and Halla Climate Control Corp.
* (1925–2015). After working for Hyundai Engineering & Construction
Hyundai Engineering and Construction Co., Ltd. (HDEC; ) is a major construction company in South Korea. 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. Hyund ...
he ventured by taking Hyundai Cement with him to form the Sungwoo Business Group, which includes Hyundai Cement, Hyundai Welding, Sungwoo Automotive.
* (1928–2005). Founder of Hyundai Motor. Left the Hyundai Group with Hyundai Development Co., Ltd., the leading housing builder in Korea.
* Chung Shin-yung (1931–1962). Died in a car accident in Germany while working as a journalist for a Korean newspaper company. His only son, Chung Mong-hyuk, ran Hyundai Oilbank
Hyundai oil bank () is a petroleum and refinery company with its headquarters in Seosan, South Korea. It was established in 1964 as Kukdong Oil Industry Company () and later taken over by the Hyundai Group (1993). It is currently a part of the ...
, the third largest oil refiner in Korea.
* (1936–2021). Founder of the KCC Chemical (Keumkang) group, Korea's leading paint and glass maker.
Children
* (1934–1982). Died in a car accident in Gimcheon
Gimcheon (; , trans., 'gold spring city') is a city in North Gyeongsang Province, South Korea. It is situated on the major land transportation routes between Seoul and Busan, namely the Gyeongbu Expressway and Gyeongbu Line railway.
In ancient ...
, in a Hyundai-built Ford Granada, on the Gyeongbu Expressway leaving two daughters.
* Chung Mong-koo
Chung Mong-koo (born March 19, 1938, in Kangwon Province) is a South Korean businessman. He is the honorary chairman and former CEO of Hyundai Motor Group, Korea's second largest chaebol that manages 54 subsidiaries including Hyundai Motor, Kia ...
(1938–). Currently the head of the Hyundai Kia Automotive Group, the second largest business group in Korea. Assumed control of Hyundai Engineering & Construction
Hyundai Engineering and Construction Co., Ltd. (HDEC; ) is a major construction company in South Korea. 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. Hyund ...
in 2011.
* (1942–). Currently the chairman of the Hyundai Department Store
Hyundai Department Store ( Korean: 현대백화점 주식회사, Hanja: 現代百貨店株式會社), together with Lotte Department Store and Shinsegae, is one of the three major department store chains in South Korea. Its parent company is th ...
Group, one of the largest retailers in South Korea.
* Chung Kyung-hee (1944–). The only daughter of Chung ju-yung and Byeon Joong-seok.
* (1945–1990). Committed suicide leaving three sons. His oldest son Chung Il-sun is currently the president of BNG Steel, a member of the Hyundai Kia Automotive Group.
* Chung Mong-hun
Chung Mong-hun (September 14, 1948 – August 4, 2003) was the 5th son of Chung Ju-yung, the founder of the South Korean Hyundai conglomerate. After the death of his father, he took over part of his father's role and became the chairman of Hy ...
(1948–2003). Former chairman of the Hyundai Group and heir apparent to his father before he committed suicide in August 2003; this left his wife (1956–) in control of the Hyundai Group.
* Chung Mong-joon
Chung Mong-joon or Chung Mong Joon ( ko, 정몽준, born October 17, 1951) is a South Korean businessman and politician. He is the sixth son of Chung Ju-yung, founder of Hyundai, the second-largest South Korean '' chaebol'' before its breakup in ...
(1951–). Politician and ''de facto'' owner of Hyundai Heavy Industries,[ the world's largest ]shipbuilding
Shipbuilding is the construction of ships and other floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to befo ...
firm, as well as vice-chairman of FIFA.
* (1955–). Chairman of Hyundai Marine & Fire Insurance
Hyundai Marine & Fire Insurance Co., Ltd. () is an insurance company headquartered in Seoul, South Korea. It is one of the largest non-life insurers in South Korea alongside Samsung Fire & Marine, DB Insurance, and KB Insurance.
History
Hyund ...
, Korea's third largest non-life insurer.
* (1959–). Former chairman of Hyundai Merchant Bank and Kangwon Bank.
* Chung Chung-in (Grace Jeong) (1979–), actress.
* Chung Chung-im (Elizabeth Jeong) (1981–), advertiser.[
]
Nephews
via Chung In-yung (1920–2006)
* Chung Mong-guk.
* Chung Mong-won
Chung Mong-won ( ko, 정몽원, born 4 August 1955) is a South Korean ice hockey administrator and businessman. He has served as chief executive officer of both Halla Group and Mando Corporation, founded the Anyang Halla hockey team in 1994, a ...
. Chairman of Halla Group. Recently reacquired Mando Machinery.
via Chung-Soon-yung (1925–2015)
* Chung Mong-sun. Chairman of Sungwoo Group (Hyundai Cement).
* Chung Mong-suk. Chairman of Hyundai Welding Co., Ltd.
* Chung Mong-hoon. Chairman of Sungwoo Hyokwang International Co.
* Chung Mong-yong. Chairman of Sungwoo Automotive.
via Chung Se-yung (1928–2005)
* Chung Mong-gyu
Chung Mong-gyu, born in Seoul in 1961, is one of South Korea's top business leaders and the chairman of HDC Group. He has been serving as the 53rd President of Korea Football Association (KFA), a title held for 2 consecutive terms since 2013. In ...
. Former Chairman of Hyundai Motor. Current Chairman of Hyundai Development Co., Ltd.
via Chung Shin-yong (1931–1962)
* Chung Mong-hyuk. Former President of Hyundai Oil & Hyundai Petrochemical; current chairman of Hyundai Corporation
Hyundai Corporation () is a South Korean company founded in 1976 as part of the Hyundai '' chaebol''.
It is a general trading company providing export and import services with a wide variety of products including marine vessels, industrial plan ...
.
via Chung Sang-yung (1936–)
* Chung Mong-jin. Chairman of KCC.
* Chung Mong-ik. Vice-Chairman of KCC.
* Chung Mong-yeol. President of KCC Construction Co., Ltd.
Notes and references
Further reading
*
*
External links
*
Chung Ju-yung
*
Chung Ju Yung Cyber Museum
* Schuman, Michae
''Time
Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, ...
''.
"Hyundai Group's Honorary Chairman: Autobiography"
{{DEFAULTSORT:Chung, Ju-yong
1915 births
2001 deaths
People from Tongchon County
South Korean founders of automobile manufacturers
Hyundai people
20th-century South Korean businesspeople