Chung Mong-Koo was born on March 19, 1938, in Tongchong County, Gangwon Province, South Korea. Chung is the second son of the late Chung Ju-Yung, the son of a peasant farmer, who after the Korean War, repaired trucks for the US Army and went on to create a conglomerate that help set South Korea on a direction to becoming an export powerhouse and the fourth-largest economy in Asia.
Chung graduated from Kyungbock High Schools and holds a Bachelor of Science degree in industrial engineering from Hanyang University.
Chung succeeded his father as chairman of the Hyundai Motor group which is made up of 42 subsidiaries and is the second largest Chaebol in South Korea. He was convicted of embezzlement and breach of fiduciary duty on February 2007, but was given a suspended sentence and was fully pardoned by President Lee Myung-bak. To make amends, Chung agreed to donate $1 billion over several years to benefit Korean society.
Even though already in his mid 70s he is very much active in the group’s management and is said to personally head monthly quality reviews with senior executives.
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