Chung Ju-yung

South Korean entrepreneur (1915–2001) From Wikipedia, the free encyclopedia

Chung Ju-yung or Jung Joo-young (Korean: 정주영; 25 November 1915 – 21 March 2001) was a South Korean entrepreneur and the founder of Hyundai Group, the second chaebol in South Korea.

Born(1915-11-25)25 November 1915
Tongchon, Korea, Empire of Japan
Died21 March 2001(2001-03-21) (aged 85)
Songpa District, Seoul, South Korea
OccupationsPolitician
Chaebol
KnownforFounder and honorary chairman of Hyundai
Quick facts MP, Born ...
Chung Ju-yung
MP
정주영
Chung Ju-yung
Chung in 1998
Born(1915-11-25)25 November 1915
Tongchon, Korea, Empire of Japan
Died21 March 2001(2001-03-21) (aged 85)
Songpa District, Seoul, South Korea
OccupationsPolitician
Chaebol
Known forFounder and honorary chairman of Hyundai
Political party
Unification National Party
SpouseByun Joong-seok
Children11 (8 sons and 3 daughters)
Korean name
Hangul
정주영
Hanja
鄭周永
RRJeong Juyeong
MRChŏng Chuyŏng
Art name
Hangul
아산
Hanja
峨山
RRAsan
MRAsan
Close

Early life

Chung Ju-yung was born into an impoverished family on the 25th of November 1915, in Tongchon County, Korea, under the Empire of Japans occupation (now Kangwon Province, North Korea).[1] Chung graduated from Songjun Primary School in March 1931. He then attended his grandfather's Confucian school while working at his parent's farm. In 1933, at the age of 18, he became a stevedore at Jinsen Harbor (Incheon, currently in South Korea). He also worked as a construction laborer in the construction of Korea University, and was a starch syrup factory worker for a year.[1]

Chung began working for Bokheung Rice Store, first as a delivery man, and then a book-keeper. In 1936, he married Byun Joong Suk. In 1937, the store owner became ill, and gave the store to Chung. He renamed the business Kyungil Rice Store.[1]

In 1939, the government, occupied by the Japanese at that time, outlawed Korean ownership of rice shops, and Chung lost his job.[1]

Career

Pre-Hyundai

Chung then returned to his village and remained there until 1940, when he decided to try again in Keijō. Due to 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 with a 3,000 won loan. Within three years, the number of employees grew from 20 to 70. In 1943, the Japanese colonial government forced the garage to merge with a steel plant as part of the war effort.[1][2] He left and returned to his village with 50,000 yen in savings.[1]

Hyundai (1946–1986)

In 1946, after the liberation of Korea from Japanese control, Chung went back to Seoul and launched Hyundai Auto Service and Hyundai Construction Company. During the North Korean invasion of 1950, Chung abandoned his construction projects and fled with his younger brother to Busan for safety. His son, Chung Mong-joon, was born there. Chung continued to build the company by gathering any kind of work he could get from the United Nations Command and the Korean Ministry of Transportation. Once Seoul was retaken by UN forces, Chung re-established the company and continued to obtain more work from the United States.[1]

In 1972, he founded Hyundai Shipbuilding & Heavy Industries, and created the Ulsan shipyard as its headquarters.[3] He introduced the Hyundai Pony in 1976 and the Hyundai Excel in 1986.[4]

From the 1980s until recently, the Hyundai Group was split into many satellite groups. Chung was the first civilian to cross the Korean DMZ since the division of Korea.[5][6] He was also the first to propose the Geumgangsan sightseeing excursions. He founded the Hyundai Heavy Steel Company.[7]

In 1982, Chung received the Golden Plate Award of the American Academy of Achievement.[8]

Political career

Chung ran unsuccessfully as a Unification National Party presidential candidate for the 1992 South Korean presidential election. During this time, he was estimated to have a personal wealth of $4 billion.[9]

Death

Chung died on 21 March 2001, at the age of 85, from pneumonia after receiving at-home treatment for other long-term illnesses.[10][11] He was buried in accordance with Buddhist and Confucian customary rites.[12] His wife, Byun Joong-Seok, died on 17 August 2007, at the age of 86, due in part to long-term heart complications.[13] She was buried in a family cemetery in Hanam, alongside her husband and their son.[14]

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)[15]

Family

Chung family tree 
Han Seong-sil
한성실
?		Chung Bong-sik
정봉식
?
 
YungByun Joong-seok [ko]
변중석
1921–2007		Chung Ju-yung
정주영
1915–2001		Kim Kyung-hee
김경희
1953–		Park Byeong-im
박병임
1928–2015		Chung Soon-yung [ko]
정순영
1922–2005		Park Young-ja
박영자
1936–		Chung Se-yung
정세영
1928–2005		Jo Eun-ju
조은주
1936–		Chung Sang-yung [ko]
정상영
1936–2021
(영)
[a]Kim Wol-gye
김월계
1923–2003		Chung In-yung [ko]
정인영
1920–2006		Chung Hee-yung
정희영
1925–2015		Kim Young-joo
김영주
1920–2010		Jang Jeong-ja
장정자
1935–		Chung Shin-yung
정신영
1931–62
 
 
 Chung Mong-pil [ko][b]
정몽필
1934–82		Chung Chung-in (Grace)
정정인
1979–		Chung Chung-im (Elizabeth)
정정임
1981–		Chung Hyeong-suk
정형숙
1951–74		Chung Moon-sook
정문숙
1947–		Kim Yun-su
김윤수
1946–		Chung Sook-young[c]
정숙영
1960–		Chung Il-kyung
정일경
1960–		Chung Mong-hyuk
정몽혁
1961–
 
MongChung Mong-koo[d]
정몽구
1938–		Chung Mong-woo [ko][e]
정몽우
1945–90		Chung Mong-yoon [ko][f]
정몽윤
1955–		Chung Mong-guk[g]
정몽국
1953–		Chung Mong-sun
정몽선
1954–		Kim Geun-su
김근수
1948–		Chung Mong-jin
정몽진
1960–		Chung Mong-yeol
정몽열
1964–
(몽)
[h]Chung Mong-kun [ko][i]
정몽근
1942–		Chung Mong-hun[j]
정몽헌
1948–2003		Chung Mong-il [ko][k]
정몽일
1959–		Chung Mong-won[l]
정몽원
1955–		Chung Mong-hoon
정몽훈
1959–		Chung Chung-suk
정정숙
1962–		Chung Mong-ik
정몽익
1962–
 
 Chung Kyung-hee[m]
정경희
1944–		Chung Mong-joon[n]
정몽준
1951–		Chung Mong-seok
정몽석
1958–		Chung Mong-yong
정몽용
1961–		Chung Mong-gyu[o]
정몽규
1962–		Chung Yoo-kyung
정유경
1970–
 
 
 
 
 Chung Ji-yi
정지이
1977–		Chung Young-yi
정영이
1984–		Chung Young-seon
정영선
1985–		Chung Hyeon-seon
정현선
1989–		Chung Mun-yi
정문이
1991–
 
 Chung Il-seon [ko]
정일선
1970–		Chung Moon-seon
정문선
1974–		Chung Dae-seon [ko][p]
정대선
1977–		Chung Chung-yi
정정이
1984–		Chung Kyung-seon
정경선
1986–
Seon
(선)Chung Ji-seon [ko]
정지선
1972–		Chung Gyo-seon
정교선
1974–		Chung Kisun
정기선
1982–		Chung Nam-yi
정남이
1983–		Chung Seon-yi
정선이
1986–		Chung Ye-seon
정예선
1996–
[q]
 
 Chung Eun-hee
정은희
1971–		Chung Yu-hee
정유희
1973–		Chung Seong-yi[r]
정성이
1962–		Chung Myeong-yi[s]
정명이
1964–		Chung Yoon-yi[t]
정윤이
1968–		Chung Eui-seon[u]
정의선
1970–
 
 
 Chung Sanghyeon
정상현
2007–		Seon A-yeong[v]
선아영
1987–		Seon Tong-uk[w]
선동욱
1989–		Sin U-jin
신우진
1993–		Sin U-hyeon
신우현
2004–
N/A
 Chung Yun-hwi
정상현
2013–		Chung Yu-mi
정유미
1988–		Chung Yu-jin
정유진
1990–		Chung Jun[x]
정준
1997–		Sin U-taek
신우택
1996–		Chung Jin-hui
정진희
1996–		Chung Chang-cheol
정장철
1998–
 
Notes
In general: marriages indicated by dashed lines, female on the left.
  1. [a]
    Given name terminates in -yung (영) for males and females in this generation
  2. [b]
    Married to Lee Yang-ja (이양자; 1943–90)
  3. [c]
    Married to Prof. Noh Kyung-soo [ko] (노경수; 1954–)
  4. [d]
    Married to Lee Jung-hwa (이정화; 1939–2009)
  5. [e]
    Married to Lee Haeng-ja (이행자; 1945–)
  6. [f]
    Married to Kim Hye-young (김혜영; 1961–)
  7. [g]
    Married to Lee Yoon-hee (이윤희; 1954–)
  8. [h]
    Given name starts with Mong- (몽) for males in this generation. Female given names often start with Chung- (정), but not always.
  9. [i]
    Married to Woo Kyung-sook (우경숙; 1951–)
  10. [j]
    Married to Hyun Jeong-eun (현정은; 1955–)
  11. [k]
    Married to Kwon Jun-hee (권준희; 1961–)
  12. [l]
    Married to Hong In-hwa (홍인화; 1957–)
  13. [m]
    Married to Jung Hee-young (정희영; 1940–)
  14. [n]
    Married to Kim Young-myeong (김영명; 1956–)
  15. [o]
    Married to Kim Na-young (김나영)
  16. [p]
    Married to news anchor Noh Hyeon-jeong [ko] (노현정, 1979–)
  17. [q]
    Given name terminates in -seon (선) for males in this generation. Female given names usually terminate in -yi (이), but not always.
  18. [r]
    Married to Daejeon Sun Hospital chief director Seon Du-hun (선두훈, 1957–)
  19. [s]
    Married to Hyundai Card vice chairman Chung Tae-yeong (정태영, 1960–)
  20. [t]
    Formerly married to Samwoo vice-chairman Sin Seong-jae (신성재, 1968–)
  21. [u]
    Married to Chung Do-won's daughter Chung Ji-seon (정지선, 1970–)
  22. [v]
    Married to Gil Yong-wu's son Gil Seong-Jin (길성진, 1984–)
  23. [w]
    Married to Chae Hyeong-seok's daughter Chae Su-yeon (채수연, 1990–)
  24. [x]
    Married to professional golfer Lydia Ko (리디아 고, 1997–)
Sources
  • 김봄내 (15 May 2015). "[재벌가족사]정주영 현대그룹 창업주" [Chaebol Family History: Chung Ju-yung, founder of Hyundai Group]. KJtimes (in Korean).
  • 김태현 (23 March 2015). "[단독보도] 정주영 막내딸 미국서 엄마 없이 결혼" [Exclusive: Chung Ju-yung's youngest daughter gets married without her mother in the United States]. 일요신문 (in Korean).
  • "Family Drama". Forbes. 26 April 2011.

Chung Ju-yung had five brothers and one sister; he had eight sons and one daughter with his wife.[16] 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.[17][18]

Brothers

  • Chung In-yung [ko] (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.[19][20]
  • Chung Soon-Yung [ko] (1925–2015). After working for Hyundai Engineering & Construction, he left the company, taking Hyundai Cement with him to form the Sungwoo Business Group, which includes Hyundai Cement, Hyundai Welding, and Sungwoo Automotive.
  • Chung Se-yung (1928–2005). He founded Hyundai Motor. He later left the Hyundai Group, taking control of Hyundai Development Co., Ltd., a major housing builder in Korea.[21][22]
  • 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, the third largest oil refiner in Korea.
  • Chung Sang-yung [ko] (1936–2021). Founder of the KCC Chemical (Keumkang) group, a major South Korean manufacturer of paints and glass products.

Children

Nephews

via Chung In-yung (1920–2006)

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. 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

Notes and references

Further reading

External links

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