Chung Ju-young
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Chung Ju-yung or Jung Joo-young (; 25 November 1915 – 21 March 2001) was a South Korean entrepreneur and the founder of
Hyundai Hyundai is a former 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 Asan, a real estate construction ...
Group, one of the largest
chaebols A chaebol ( , ; , ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group. Several dozen large South Kore ...
in South Korea. Raised as the eldest son of a poor Korean
farmer A farmer is a person engaged in agriculture, raising living organisms for food or raw materials. The term usually applies to people who do some combination of raising field crops, orchards, vineyards, poultry, or other livestock. A farmer ...
, Chung was an integral part of the rapid development of Korea's economy, growing
Hyundai Heavy Industries HD Hyundai Heavy Industries Co., Ltd. (HHI; ) is the world's largest shipbuilding company and a major heavy equipment manufacturer. Its headquarters are in Ulsan, South Korea. History HHI was founded in 1972 by Chung Ju-yung as a division ...
into the largest
shipbuilder Shipbuilding is the construction of ships and other Watercraft, floating vessels. In modern times, it normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation th ...
in the world, as well as increasing
Hyundai Motor Group The Hyundai Motor Group (HMG; ; stylized as HYUNDAI) 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 HMG a ...
into the largest
automobile A car, or an automobile, is a motor vehicle with wheels. Most definitions of cars state that they run primarily on roads, Car seat, seat one to eight people, have four wheels, and mainly transport private transport#Personal transport, peopl ...
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 The Korean War (25 June 1950 – 27 July 1953) was an armed conflict on the Korean Peninsula fought between North Korea (Democratic People's Republic of Korea; DPRK) and South Korea (Republic of Korea; ROK) and their allies. North Korea was s ...
; with President
Park Chung Hee Park Chung Hee (; ; November14, 1917October26, 1979) was a South Korean politician and army officer who served as the third president of South Korea from 1962 after he seized power in the May 16 coup of 1961 until Assassination of Park Chung ...
, Chung constructed the
Gyeongbu Expressway The Gyeongbu Expressway (; Asian Highway Network ) is the second oldest and most heavily travelled expressway in South Korea, connecting Seoul to Suwon, Daejeon, Gumi, South Korea, Gumi, Daegu, Gyeongju, Ulsan and Busan. It has the route numb ...
to connect
Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...
to
Busan Busan (), officially Busan Metropolitan City, is South Korea's second list of cities in South Korea by population, most populous city after Seoul, with a population of over 3.3 million as of 2024. Formerly romanized as Pusan, it is the economi ...
in 1970. Chung's business ventures steered through the tumultuous times of Japanese colonial rule in Korea and the post-
Korean War The Korean War (25 June 1950 – 27 July 1953) was an armed conflict on the Korean Peninsula fought between North Korea (Democratic People's Republic of Korea; DPRK) and South Korea (Republic of Korea; ROK) and their allies. North Korea was s ...
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 minds. Conviction creates indomitable efforts. This is the key to true miracles, man's potential is limitless."


Biography


Early life

Chung Ju-yung was born in
Tongchon T'ongch'ŏn County is a Administrative divisions of North Korea, ''kun'', or county, in Kangwon Province (North Korea), Kangwŏn province, North Korea. It abuts the Sea of Japan (East Sea of Korea) to the north and east. Famous people from T'ongc ...
,
Korea, Empire of Japan From 1910 to 1945, Korea was ruled by the Empire of Japan under the name Chōsen (), the Japanese reading of "Joseon". Japan first took Korea into its sphere of influence during the late 1800s. Both Korea (Joseon) and Japan had been under polic ...
(now in
Kangwon Province, North Korea Kangwon Province (Kangwŏndo; ) is a province of North Korea, with its capital at Wŏnsan. Before the division of Korea in 1945, Kangwŏn Province and its South Korean neighbour Gangwon Province (also spelled ''Kangwon Province'' sometimes) f ...
) into an impoverished family. He initially aspired to become a schoolteacher, but his family lacked the financial means to support his education. When not occupied with work on the family farm, Chung attended a local
Confucian Confucianism, also known as Ruism or Ru classicism, is a system of thought and behavior originating in ancient China, and is variously described as a tradition, philosophy, religion, theory of government, or way of life. Founded by Confucius ...
school operated by his grandfather. His business acumen began to show during trips into town, where he sold wood to help support his family.


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) for work in hopes of escaping the harsh realities of farm life.Chung ju yung
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 (era), 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. (198 ...
(Kowon, in North Korea), where they took up jobs as construction workers. Although they worked long hours for low pay, Chung enjoyed the independence of earning money. 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 undertook contributed to his growing interest in
civil engineering Civil engineering is a regulation and licensure in engineering, professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads ...
and provided a sense of personal accomplishment. Upon returning to his home village of Gasan-ri in Tsūsen-gun, Chung began planning another attempt to leave - this time with the goal of reaching
Keijō , or Gyeongseong (), was an administrative district of Korea under Japanese rule that corresponds to the present Seoul, the capital of South Korea. History When the Empire of Japan annexed the Korean Empire, it made Seoul the colonial capita ...
(formerly
Hanseong The region now corresponding to Seoul, South Korea has been inhabited since the Paleolithic Age. It has been the capital of a number of kingdoms since it was established. Prehistoric It is believed that humans were living in the area that is n ...
, currently
Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...
). In April 1933, Chung departed for Keijō with two companions. The journey faced challenges early on, including the apprehension of one of the boys by a family member. Additional difficulties arose when Chung and his friend were deceived by an individual who claimed to offer employment but instead took their money. Chung's father eventually located them, bringing the attempt to an end at his grandfather's nearby residence.


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 until his father managed to find him again, and, after a mild argument, took him back to Gasan.


Rice merchant

In 1933, at age 18, Chung decided to make a fourth 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 the capital, he jumped at any job he could find. He worked first as a laborer at
Jinsen Incheon is a city located in northwestern South Korea, bordering Seoul and Gyeonggi Province to the east. Inhabited since the Neolithic, Incheon was home to just 4,700 people when it became an international port in 1883. As of February 2020, ...
Harbor (Incheon, currently in South Korea), as a construction worker at Boseong Professional School and as a handyman for a starch syrup factory. After working at the factory for nearly a year, Chung landed a job as a deliveryman at the Bokheung Rice Store in Keijō. Chung's new job offered him room for advancement and he decided to stay on full time. He was allowed to manage the store's accounting after six months on the job. In 1937, the store owner became ill and decided to give the store to Chung. At age 22, Chung became the owner and renamed the store to Kyungil Rice Store. The store grew and made profits until early 1939 when Japan, in its war efforts to secure rice supplies for the country and its military, imposed a rice-rationing system that forced Korean businesses out of trading rice.


Creation of Hyundai


A-Do Service Garage

Chung returned to his village once his business failed and remained there until 1940, when he decided to try again in Keijō. After considering the restrictions imposed on Koreans in certain industries by the Japanese colonial government, Chung entered the automobile repair business. Using a service garage he purchased from a friend, Chung started the A-do Service Garage on a 3,000 won loan. 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 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 and the euro. It is also widely used as a third reserve currency after the US dollar and the euro. T ...
in savings.


Hyundai

In 1946, after the
liberation of Korea Liberation or liberate may refer to: Film and television * ''Liberation'' (film series), a 1970–1971 series about the Great Patriotic War * "Liberation" (''The Flash''), a TV episode * "Liberation" (''K-9''), an episode Gaming * '' Liberati ...
from Japanese control, Chung started
Hyundai Hyundai is a former 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 Asan, a real estate construction ...
and Hyundai Civil Industries in anticipation of the post-war reconstruction and industrialization. Chung won 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 generatio ...
in 1967, the
Gyeongbu Expressway The Gyeongbu Expressway (; Asian Highway Network ) is the second oldest and most heavily travelled expressway in South Korea, connecting Seoul to Suwon, Daejeon, Gumi, South Korea, Gumi, Daegu, Gyeongju, Ulsan and Busan. It has the route numb ...
in 1970, the world's largest
shipyard A shipyard, also called a dockyard or boatyard, is a place where ships are shipbuilding, built and repaired. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Compared to shipyards, which are sometimes m ...
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, neighbo ...
, and 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 second largest fully operational nuclear gene ...
, among others. Chung also won contracts from the
United States Forces Korea The United States Forces Korea (USFK) is a Unified Combatant Command#Subordinate Unified Command, sub-unified command of United States Indo-Pacific Command, U.S. Indo-Pacific Command (USINDOPACOM). USFK was initially established in 1957, and e ...
to build facilities for their personnel, leveraging his younger brother's English proficiency and good relationship with 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 Busan Metropolitan City, is South Korea's second list of cities in South Korea by population, most populous city after Seoul, with a population of over 3.3 million as of 2024. Formerly romanized as Pusan, it is the economi ...
for safety. His son,
Chung Mong-joon Chung Mong-joon or Chung Mong Joon (, born November 15, 1951) is a South Korean businessman and politician. He is the sixth son of Chung Ju-yung, founder of Hyundai Group, Hyundai, the second-largest South Korean ''chaebol'' before its breakup i ...
,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 South Korea, Republic of Korea (South Korea) during and after the Korean War. It was the first attempt at collective security by the U ...
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. Chung continued to grow and diversify the company into one of South Korea's chaebols. With no experience in shipbuilding, he created the Ulsan shipyard. 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 automobile produced by the South Korean manufacturer Hyundai from 1975 until 1990. The Pony was South Korea's first mass-produced and exported car. It has a front-engine, rear-wheel-drive lay ...
in 1975 and the
Hyundai Excel The Hyundai Excel (), also known as the Hyundai Pony, Hyundai Pony Excel, Hyundai Presto, Mitsubishi Precis, Hyundai X2 and Hyundai XL, is an automobile which was produced by Hyundai Motor Company from 1985 to 1999. It was the first front-wheel ...
in 1986, using European expertise.


Later years

From the 1980s until recently, the Hyundai Group was split into many satellite groups. 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, Naepo New Town, Yesan- ...
, he carried out a reclamation project, using a decommissioned
oil tanker An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk cargo, bulk transport of petroleum, oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quant ...
as a
cofferdam A cofferdam is an enclosure built within a body of water to allow the enclosed area to be pumped out or drained. This pumping creates a dry working environment so that the work can be carried out safely. Cofferdams are commonly used for constru ...
.Amazon (2010).
Korean Founders of Automobile Manufacturers
.
In 1998, he herded 1,001 cows through the
Korean Demilitarized Zone The Korean Demilitarized Zone () is a heavily militarized strip of land running across the Korea, Korean Peninsula near the 38th parallel north. The demilitarized zone (DMZ) is a border barrier that divides the peninsula roughly in half. It wa ...
to North Korea, which he claimed was a repayment 1,000 times over for a cow he took to afford his ticket when he left his father's farm. Chung was the first civilian to cross the Korean DMZ since the
division of Korea The division of Korea began at the end of World War II on 2 September 1945, with the establishment of a Soviet occupation zone and a US occupation zone. These zones developed into separate governments, named the Democratic People's Republic of ...
. He was the first to propose the Geumgangsan 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 foundations. The foundation was organized into four 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 nonprofit educational organization that recognizes some of the highest-achieving people in diverse fields and gives them the opportunity to meet one ano ...
.


Political activities

Chung is credited with successfully lobbying for South Korea to host the
1988 Summer Olympics The 1988 Summer Olympics (), officially the Games of the XXIV Olympiad () and officially branded as Seoul 1988 (), were an international multi-sport event held from 17 September to 2 October 1988 in Seoul, South Korea. 159 nations were represe ...
. In 1992 the
International Olympic Committee The International Olympic Committee (IOC; , CIO) is the international, non-governmental, sports governing body of the modern Olympic Games. Founded in 1894 by Pierre de Coubertin and Demetrios Vikelas, it is based i ...
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 () 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 election in March, for which Chung announ ...
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 ...
. During this time, he was estimated to have a personal wealth of $4 billion, making him the richest man in Korea, though later estimates have placed him considerably lower. 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, activist and statesman who served as the eighth president of South Korea from 1998 to 2003. Kim entered politics as a member of the new wing of the Democratic Pa ...
wanted to provide a $100 million donation as a way to jump-start economic development in North Korea under his
Sunshine Policy The Reconciliation and Cooperation Policy Towards the North (), colloquially referred to as Sunshine Policy () is one of the approaches for South Korea's foreign policy towards North Korea, lasting from 1998 to 2008 and again from 2017 to 2020. ...
. 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) is a South Korean state-owned development bank which aims to encourage the industrial development of South Korea. It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage ...
. The historic 2000 inter-Korean summit took place, with Chung traveling across the border in a motorcade of cars containing some 1001 "
unification Unification or unification theory may refer to: Computer science * Unification (computer science), the act of identifying two terms with a suitable substitution * Unification (graph theory), the computation of the most general graph that subs ...
cows" as a gift to the North Korean people.


Death

Chung died in 2001 at the age of 85 from pneumonia; he had been receiving at-home treatment for other long-term illnesses. He was buried in accordance to
Buddhist Buddhism, also known as Buddhadharma and Dharmavinaya, is an Indian religion and List of philosophies, philosophical tradition based on Pre-sectarian Buddhism, teachings attributed to the Buddha, a wandering teacher who lived in the 6th or ...
and Confucian customary rites. His wife, Byun Joong-seok, died on 17 August 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 i ...
, alongide her husband and their son.


Legacy

As one of the most recognized and admired business men in
Korean history The Lower Paleolithic era on the Korean Peninsula and in 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 earli ...
, 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'' () * ''Born in This Land'' () *''Your Lips Need to Burn if You Plan to Succeed'' ()


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 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 HL Group (), formerly Halla Group, is a South Korean chaebol that engages in automobile, construction, distribution/port, investment, education, and sports businesses in Korea and internationally. Its construction business comprises the provision ...
, 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. Hyundai ...
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 HD Hyundai Oil Bank Co., Ltd. () is a petroleum and refinery company with its headquarters in Seosan, South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea ...
, 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 (; ) is a Administrative divisions of South Korea, 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 a Hyundai-built
Ford Granada Ford Granada was a name used by the Ford Motor Company for two unrelated vehicles sold in different markets: * Ford Granada (Europe), built and marketed in Europe from 1972 to 1994 * Ford Granada (North America) The North American version of the ...
, on the
Gyeongbu Expressway The Gyeongbu Expressway (; Asian Highway Network ) is the second oldest and most heavily travelled expressway in South Korea, connecting Seoul to Suwon, Daejeon, Gumi, South Korea, Gumi, Daegu, Gyeongju, Ulsan and Busan. It has the route numb ...
leaving two daughters. *
Chung Mong-koo Chung Mong-koo (; born March 19, 1938, in Kangwon Province) is a South Korean business magnate. He is the honorary chairman and former CEO of Hyundai Motor Group, Korea's second largest chaebol that manages 54 subsidiaries including Hyundai Mot ...
(1938–). Currently the head of the
Hyundai Kia Automotive Group The Hyundai Motor Group (HMG; ; stylized as HYUNDAI) 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 HMG al ...
, 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. Hyundai ...
in 2011. * (1942–). Currently the chairman of the
Hyundai Department Store Hyundai Department Store () is a major department store chain in South Korea. Its parent company is the Hyundai Department Store Group. It, Lotte Department Store, and Shinsegae are the three largest chains in the country. Stores Seoul Metrop ...
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 The Hyundai Motor Group (HMG; ; stylized as HYUNDAI) 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 HMG al ...
. *
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 ...
(1948–2003). Former chairman of the
Hyundai Group Hyundai Group (; ) is a South Korean conglomerate founded by Chung Ju-yung. The group was founded in 1947 Hyundai Engineering & Construction, as a construction company. With government assistance, Chung and his family members rapidly expanded ...
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 (, born November 15, 1951) is a South Korean businessman and politician. He is the sixth son of Chung Ju-yung, founder of Hyundai Group, Hyundai, the second-largest South Korean ''chaebol'' before its breakup i ...
(1951–). Politician and ''de facto'' owner of
Hyundai Heavy Industries HD Hyundai Heavy Industries Co., Ltd. (HHI; ) is the world's largest shipbuilding company and a major heavy equipment manufacturer. Its headquarters are in Ulsan, South Korea. History HHI was founded in 1972 by Chung Ju-yung as a division ...
, the world's largest
shipbuilding Shipbuilding is the construction of ships and other Watercraft, floating vessels. In modern times, it normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation th ...
firm, as well as vice-chairman of
FIFA The Fédération Internationale de Football Association (), more commonly known by its acronym FIFA ( ), is the international self-regulatory governing body of association football, beach soccer, and futsal. It was founded on 21 May 1904 to o ...
. * (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 (, 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, and co-founded As ...
. Chairman of
Halla Group HL Group (), formerly Halla Group, is a South Korean chaebol that engages in automobile, construction, distribution/port, investment, education, and sports businesses in Korea and internationally. Its construction business comprises the provision ...
. 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 1961) is a South Korean businessman. He is one of his country's top business leaders and chairman of HDC Group. Since 2013, he has served two consecutive terms as the 53rd president of the Korea Football Association (KFA). ...
. 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. 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.


See also

*
Lee Byung-chul Lee Byung-chul (; 12 February 1910 – 19 November 1987) was a South Korean businessman who founded the Samsung Group, the country's largest chaebol ( conglomerate). Lee founded Samsung in 1938, at the age of 28. He is recognized as the most ...
(Founder of
Samsung Samsung Group (; stylised as SΛMSUNG) is a South Korean Multinational corporation, multinational manufacturing Conglomerate (company), conglomerate headquartered in the Samsung Town office complex in Seoul. The group consists of numerous a ...
)


Notes and references


Further reading

* *


External links

*
Chung Ju-yung
*
Chung Ju Yung Cyber Museum
* Schuman, Michae

''
Time Time is the continuous progression of existence that occurs in an apparently irreversible process, irreversible succession from the past, through the present, and into the future. It is a component quantity of various measurements used to sequ ...
''.
"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 South Korean people of North Korean origin Rice merchants Chung family