Chung Mong-koo

Chung Mong- koo ( born March 19, 1938 in Seoul) is the chairman (CEO) of the South Korean Hyundai Kia Automotive Group.

Life

Chung Mong- koo was born the son of Chung Ju -yung, founder of the Hyundai Motor Company. He joined in 1967 the Hanyang University and went shortly afterwards to Hyundai.

In 1974 he became head of Hyundai Motor Service and 1980, the Hyundai Precision & Industry. This company was later rebuilt and produced vehicles. In 1981, he became CEO of Hyundai Pipe and 1986 of Inchon Iron & Steel. He was chairman of the Hyundai Group in 1996, after his uncle Se -yung was released from this position. However, continued his father had de facto control of the Group. In 1998, he became CEO of Hyundai Motor.

His brother Mong -hun committed suicide in 2003, which made for Chung Mong- koo the way to the top of the Hyundai Group free.

In April 2006 he was arrested, but end of June 2006 released on bail again. On 5 February 2007 the District Court in Seoul recognized him guilty of embezzlement and breach of trust. He had embezzled about 50 to 82 million euro, privately used and mounted on black money accounts. With this money he bribed numerous officials and politicians. The punishment was three years imprisonment, but was not initially enforced. In September 2007, the sentence was commuted to probation and Chung Mong- koo committed to donate 895 million U.S. dollars and to give lectures on transparent management.

Footnotes

• Manager
• Entrepreneurs (South Korea)
• Entrepreneurs ( 21st century)
• Entrepreneur ( 20th century)
• South Koreans
• Born in 1938
• Man