Chung Mong-Koo’s profile picture

Chung Mong-Koo

Chairman, Hyundai Motor
Chung Mong-Koo’s profile picture
Net worth 2018: $4.75 Billion
Industry: Automotive
Residence: Seoul, South Korea
Country: South Korea
BirthDay: 19 March 1938
Sigh: Aries
Children: 4
Education: Bachelor of Arts / Science, Hanyang University

Chung Mong-Koo was bornon 19 March 1938 in Seoul, South Korea, South Korea, is Chairman, Hyundai Motor. Chung Mong-Koo is #429 in List Billionaires People In The World. Chung Mong-Koo is the second son of the late Chung Ju-Yung, the eldest son of a peasant farming family who, after the Korean War, repaired trucks for the U.S. Army and went on to assemble a conglomerate that, as much as any, set Korea on the path to becoming an export powerhouse and one of Asia's largest economies. Most of his eight sons, at his discretion, wound up presiding over various fiefdoms within Hyundai. Chung Mong-Koo took the reins of Hyundai Motor, while his younger brother Chung Mong-Joon, also a billionaire, wound up running Korea's leading shipbuilder, Hyundai Heavy Industries. Chung Mong-Koo's billionaire son and presumed successor, Chung Eui-Sun, is vice chairman of Hyundai Motor. The hard-charging chairman -- who is known for his obsession with quality and has driven a rapid expansion of production into new markets such as China, Mexico and Brazil -- shows no sign of retiring. He owns about 4% of Hyundai Motor, which in recent years has lost market share both at home and abroad due to stiff competition. Most of his fortune is derived from stakes in publicly traded affiliates Hyundai Steel, auto parts maker Hyundai Mobis and logistics company Hyundai Glovis


$1.5 Billion


$3.6 Billion


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$6.2 Billion


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$5.7 Billion


$4.3 Billion


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$4.75 Billion


Furthermore, in 2011, he was accused of nepotism when Ozen, a bakery cafe whose advisors included his three daughters Sung-yi, Myung-yi, and Yun-yi, set up shop in company buildings


The trial was seen as "a victory for transparency and rule of law in South Korea", but on August 15, 2008, South Korean President Lee Myung-bak granted him a special pardon to allow Chung to continue to contribute to the development of Hyundai Motor Group as well as the Korean economy


On September 6, 2007, Chief Judge Lee Jae-hong ruled to suspend the sentence of Chung Mong-Koo (in consideration of the huge economic impact of imprisonment), ordering instead of a 3-year jail term, community service and a $1 billion donation to charity


Chung was arrested on 28 April 2006 on charges related to embezzlement and other corruption


When the conglomerate split into several parts in 1999, Chung Mong-Koo took over the Hyundai Motor division


Chung Mong-Koo (born March 19, 1938, in Gangwon Province) is the chairman of Hyundai Motor Group, a prominent car manufacturer in South Korea

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