Chung Mong-hun

Chung Mong-hun (September 14, 1948 – August 4, 2003) was the 5th son of Chung Ju-yung, the founder of the South Korean Hyundai conglomerate. After the death of his father, he took over part of his father's role and became the chairman of Hyundai Asan, the company in charge of various business ventures between North and South Korea. He committed suicide in 2003.

In this Korean name, the family name is Chung.
Chung Mong-hun
정몽헌
Born(1948-09-14)September 14, 1948
DiedAugust 4, 2003(2003-08-04) (aged 54)
Hyundai office, Seoul
Cause of deathSuicide by jumping
NationalitySouth Korea
Occupation
  • Entrepreneur
  • businessman
Parent(s)
Korean name
Hangul
Hanja
Revised RomanizationJeong Mong-heon
McCune–ReischauerChŏng Monghŏn

Professional career

Chung Mong-hun joined Hyundai Heavy Industries in 1975, becoming president of the company's shipping interests by 1981. His father, Hyundai Group founder Chung Ju-yung, was impressed by his management style and put him in charge of the company's electronics division in 1982.[1]

In 1997, Chung Ju-yung appointed Mong-hun as the group's co-chairman. In 2000, after Ju-yung's eldest son, Mong-koo, attempted to oust Mong-hun, Ju-yung made Mong-hun the group's sole chairman. Later that year, Ju-yung announced that he and his sons would resign from all management positions at Hyundai companies, except Mong-hun would remain the chair of Hyundai Asan. However, Mong-koo remained the chairman of Hyundai Motors and Kia Motors.[2]

Chung Mong-hun was appointed by his father, who was born in Japan-controlled North Korea, to handle Hyundai business with the government of North Korea. He took pride in this position, and reportedly decorated his office with photographs of Hyundai officials meeting with Kim Jong Il in Pyongyang, as well as photos of himself showing Kim around a North Korean resort that Hyundai operated.[3]

Scandal and suicide

In June 2003, Chung was for his role in the "cash-for-summit scandal", on charges of doctoring company books to hide the secret money transfers of millions of dollars by the Kim Dae-jung administration to North Korea to set up the 2000 inter-Korean summit. Facing up to three years in prison after he was forced to testify in court about the money transfer days earlier, he committed suicide on August 4, 2003 by leaping from his 12th floor office.[4]

See also

References
  1. "Chung Mong Hun". The Telegraph. Telegraph Media Group. 19 August 2003. Retrieved 30 October 2019.
  2. Nakarmi, Laxmi (June 16, 2000). "Of Father and Sons". Asiaweek. 29 (23).
  3. Brooke, James (4 August 2003). "Indicted Hyundai Executive Plunges to Death in Seoul". The New York Times. Retrieved 30 October 2019.
  4. Brooke, James (August 4, 2003). "Indicted Hyundai Executive Plunges to Death in Seoul". The New York Times. Retrieved August 6, 2009.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.