Chung Ju-yung
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Chung Ju-yung (November 25 1915—March 21 2001) was the founder of Hyundai Group along with his brothers, at one time South Korea's largest multinational conglomerate (chaebol). The Hyundai Group split up from the 1980's to until recently into many satellite groups as follows.
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.[[Citing sources citation needed]] Also he had sent 500 cows to North Korea over the DMZ. He was the first to propose the Geumgangsan sightseeing excursions.[[Citing sources citation needed]] He died in 2001. He developed PONY as a first Korean car. That was the start of Hyundai Motors.
He founded Hyundai Heavy Steel Company. The Company developed non dock ship making method.
Early life
Chung was born in the village of Asan-ri, T'ongch'ŏn-gun in Kangwon province, near Korea's eastern shore in present-day North Korea. Chung's ancestry can be traced back to the Pukchong area of North Korea. From Pukchong the family migrated to Myeongsu. It is in Myeongsu that the family set up a farm where they remained for several centuries. Chung's great grandfather later moved to Asan village in search of better lands to farm on. Chung's father grew up in the area and eventually acquired four acres of land on which he raised rice and vegetables. Growing up, Chung thought he would become an elementary school teacher, but realizing that the education needed to pursue his dream was costly, Chung gave up and instead helped his father work on the family farm.
During his teens, Chung consistently tried to find work outside of farming on the family farm. In one instance Chung and his friend made an attempt to walk to the city of Chongjin which was 250 miles away from his home in Asan-ri. They only made it half way before they were picked up by Chung's father, who found them working at a railroad construction site in the town of Kowon. Chung once stated that it was from this event in his life that he accquired a taste for construction work, which would later shape the foundations of the Hyundai empire.
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 Co., Ltd., 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 third 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 defacto 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 Co., Ltd., Korea's third largest non-life insurer.
- Chung Mong-il. Former Chairman of Hyundai Merchant Bank and Kangwon Bank.
References
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