Chung Ju-yung
Template:Korean name Template:Koreanname Chung Ju-yung (November 25 1915—March 21 2001) was along with his brothers, the founder of Hyundai Group, at one time South Korea's largest multinational conglomerate (chaebol). The Hyundai Group was split up from the 1980's till recently into many satellite groups. While living, Chung had a very successful career. In Seosan, he carried out a successful reclamation project, using a decommissioned oil tanker as a cofferdam.[citation needed] Also he sent 500 cows over the DMZ to North Korea. He was the first to propose the Geumgangsan sightseeing excursions.[citation needed] He developed the PONY as a first Korean car, which was the start of Hyundai Motors. He founded the Hyundai Heavy Steel Company which developed a non-dock shipmaking method. He died in 2001.
Early Life
Chung Ju Yung was born the eldest of six children in Tongchon, Kangwon province, North Korea during the Japanese occupation. As a boy, Chung dreamed of becoming a school teacher but his hopes were cut short due to the fact that the restrictive environment at the time kept the family in poverty, effectively keeping Chung from the opportunities of higher education. Despite the setbacks, Chung continued to go to a local Confucian school ran by his grandfather whenever his time wasn’t taken up by tasks on the family farm.Cite error: There are <ref> tags on this page without content in them (see the help page).
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 he read sparked his imagination and he soon grew tired of the poverty that he and his family had to endure.
Family
Brothers
- Chung In-yung. After leaving the Hyundai Group, he founded the Halla Business Group, whose interests, included Mando Machinery, Halla Cement, Halla Construction, Halla Heavy Industries.
- Chung Soon-Yung. After working for Hyundai Engineering & Construction he ventured by taking with him Hyundai Cement to form the Sungwoo Business Group, which includes Hyundai Cement, Hyundai Welding, Sungwoo Automotive, etc.
- Chung Shin-yung. Died in an auto accident in Germany while working as a journalist for a Korean newspaper company. His only son Chung Mong-hyuk ran Hyundai Oilbank, the third largest oil refiner in Korea.
- Chung Sang-yung. Founder of the KCC (Keumkang) group, Korea's leading paint and glass maker.
- Chung Se-yung. Founder of Hyundai Motor. Left the Hyundai Group with Hyundai Development Co., Ltd., the leading housing builder in Korea.
Sons
- Chung Mong-pil. Died in Ulsan leaving no sons.
- Chung Mong-koo. Currently the head of the Hyundai Kia Automotive Group, the second largest business group in Korea.
- Chung Mong-kun. Currently the Chairman of the Hyundai Department Store Group, one of the largest retailers in South Korea.
- Chung Mong-woo. 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. Former Chairman of the Hyundai Group and heir apparent to his father. A few years ago he committed suicide leaving his wife control of the Hyundai Group.
- Chung Mong-joon. Politician and de facto owner of Hyundai Heavy Industries, the world's largest shipbuilding firm, as well as Vice Chairman of FIFA.
- Chung Mong-yoon. Chairman of Hyundai Marine & Fire Insurance, Korea's third largest non-life insurer.
- Chung Mong-il. Former Chairman of Hyundai Merchant Bank and Kangwon Bank.
References
- Richard M. Steers (1999). Made In Korea: Chung Ju Yung and the rise of Hyundai". Routledge. ISBN 0-415-92050-7.
External Links
