Chung Mong-koo
Chung Mong-koo (born March 19, 1938) is a South Korean business leader and the honorary chairman of Hyundai Motor Group, Korea’s second-largest family-controlled business group (chaebol). The group runs 54 subsidiaries, including Hyundai Motor, Kia Motors, and Hyundai Steel. He started his career in 1970 in the group’s engineering and construction division and later led Hyundai Motor after the Hyundai Group split in 1999. He is the eldest son of Hyundai founder Chung Ju-yung.
Chung is one of Korea’s wealthiest people. Forbes estimated his net worth at about $4 billion in 2024, placing him among the country’s richest.
In 2007 he was convicted of embezzlement and breach of fiduciary duty for selling stock to his son at below-market prices. He received a suspended sentence and was pardoned by President Lee Myung-bak in 2008, allowing him to continue leading Hyundai Motor Group.
He also owns INNOCEAN Worldwide, an advertising agency, with his eldest daughter Chung Sung-yi.
Chung is known for coming to work early and for maintaining strong control over Hyundai Motor Group through a cross-ownership structure with Kia and Mobis, which makes it hard for outside shareholders to challenge the board.
His son, Chung Eui-sun, is considered the heir apparent, though leadership expectations are debated. In 2011 he faced nepotism allegations related to Ozen, a bakery cafe associated with his daughters; the cafe closed in 2012.
This page was last edited on 3 February 2026, at 13:03 (CET).