Chung Mong-koo
Chung Mong Koo (March 19, 1938 in Kangwon province) is the chairman of Hyundai Motor Group, the largest carmaker in South Korea. The Hyundai Motor Group is consist of 42 subsidiaries and it is second largest Chaebol in South Korea. Chung succeeded his father, Chung Ju-yung, founder of what would become the Hyundai Conglomerate (in Korean,"Chaebol") When the conglomerate split into several parts in 1999, Chung Monk Koo took over the Hyundai Motor business. He is eldest surviving son of Chung Ju-yung's eight sons.
Chung Mong Koo is much credited with improving the reputation, perception and sales of Hyundai vehicles by shifting the automaker's emphasis from production to quality.
Professional Experience
- 2000 ~ Present : Chairman & CEO of Hyundai Motor Co. & Kia Motors Corp.
- 1996 ~ 1998 : Chairman of Hyundai Group
- 1987 ~ 1998 : CEO, Hyundai Motor Service
- 1986 : CEO, Incheon Iron & Steel
- 1981 : CEO, Hyundai Pipe
- 1977 : CEO, Hyundai Precision & Industry
Education
- 2001 : Honorary Ph.D (National University of Mongolia)
- 2000 : Honorary Ph.D (Korea University)
- 1989 : Honorary Ph D (University of Connecticut)
- 1967 : Bachelor of Industrial Engineering (Hanyang University)
- 1959 : Kyung Bok High School
Awards & Honors
- 2009 : Van Fleet Award, The Korea Society
- 2008 ~ present : Honorary Chairman of the Organizing Committee for the Expo 2012 Yeosu
- 2001 : Awarded Distinguished Service Citation by Detroit’s Automotive Hall of Fame
- 1997 ~ present : Honorary Vice President of International Archery Federation
- 1986 ~ 1997 : Chairman of Asia Archery Association
- 1985 ~ 1997 : Chairman of Korea Archery Association
Others
He was named by Business Week as one of 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 embezzling 100 billion won ($106 million USD) from Hyundai to create slush funds.[2] 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[3][4] He was convicted of embezzlement and breach of fiduciary duty on 5 February 2007 and sentenced to three years of prison.[5] Chung remained free on bail while he appealed the sentence.[6] 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.[7] However on August 15, 2006, on the occasion of Korea’s 63rd Independence Day, the ministry of Justice granted a special pardon to eliminate all charges and sentences in order Mr. Chung to continue to contribute to the development of Hyundai Motor Group as well as Korean national economy.[8] In 2009, the Hyundai Genesis luxury sedan won the North American Car of the Year award.[9] By early 2011, Hyundai motor group was gauged by some in the auto industry to be the world’s fourth-largest automaker.[10]
References
See also
Chaebol (South Korean conglomerates)
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| 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 |
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| Place of death |
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