Chung Mong-koo

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This is a Korean name; the family name is Chung.
Chung Mong-koo
Hangul 정몽구
Hanja 鄭夢九
Revised Romanization Jeong Monggu
McCune-Reischauer Chŏng Mong-gu

Chung Mong-koo (b. March 19, 1938 in Seoul) is the chairman of Hyundai Motor Group. He graduated from Hanyang University in 1967. In 1999, he took over as head of Hyundai, succeeding his father and founder Chung Ju-yung. [1] In 2000, he attracted widespread attention when he defied his father Chung Ju-yung's order to step down.[2] He was named by BusinessWeek as one of the top managers for 2004. [1]

In 2006, he and his family were targeted by the Seoul Supreme Public Prosecutor's Office as part of an investigation into embezzeling 100 billion won ($106 million USD) from Hyundai to create slush funds.[3] Despite a travel ban, Chung left South Korea in April 2006. Chung was arrested on 28 April 2006 on charges related to embezzlement and other corruption[4][5] He was convicted of embezzlement and breach of fiduciary duty on 5 February 2007 and sentenced to three years of prison.[6] Chung plans to appeal the sentence and remains free on bail.[7] 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, the performance of community service and a $1 billion donation to charity.[8]

[edit] References

  1. ^ a b Chung Mong Koo. THE BEST & WORST MANAGERS OF 2004. Business Week (January 10, 2005).
  2. ^ "Hyundai boss refuses to step down", Associated Press, 5 June 2000. 
  3. ^ Kim Jong-moon, Chun Su-jin. "Hyundai case widens with official's arrest", JoongAng Daily, 28 March 2006. 
  4. ^ Olson, Kelly. "Hyundai Chairman Chung Mong-Koo Arrested", Associated Press, 28 April 2006. 
  5. ^ Sang-Hun, Choe. "South Korea Arrests Head of Hyundai Motor", New York Times/International Herald Tribune, 28 April 2006. 
  6. ^ Seonjin Cha. "Hyundai Motor's Chung Found Guilty of Embezzlement", Bloomberg, 5 February 2007. 
  7. ^ Cheon Jong-woo. "Hyundai Motor chairman sentenced to 3 yrs in jail", Reuters, 5 February 2007. 
  8. ^ BBC NEWS, Guilty Hyundai boss escapes jail

[edit] See also

Persondata
NAME Chung Mong-koo
ALTERNATIVE NAMES 정몽구, 鄭夢九
SHORT DESCRIPTION South Korean businessman
DATE OF BIRTH March 19, 1938
PLACE OF BIRTH Seoul, Korea
DATE OF DEATH
PLACE OF DEATH