Age, Biography and Wiki
Chung Mong-koo was born on 19 March, 1938 in Tsūsen-gun, Kōgen-dō, Japanese Korea, is a South Korean business magnate (born 1938). Discover Chung Mong-koo's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 85 years old?
| Popular As |
N/A |
| Occupation |
businessman |
| Age |
85 years old |
| Zodiac Sign |
Pisces |
| Born |
19 March, 1938 |
| Birthday |
19 March |
| Birthplace |
Tsūsen-gun, Kōgen-dō, Japanese Korea |
| Nationality |
Japan
|
We recommend you to check the complete list of Famous People born on 19 March.
He is a member of famous businessman with the age 85 years old group.
Chung Mong-koo Height, Weight & Measurements
At 85 years old, Chung Mong-koo height not available right now. We will update Chung Mong-koo's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.
| Physical Status |
| Height |
Not Available |
| Weight |
Not Available |
| Body Measurements |
Not Available |
| Eye Color |
Not Available |
| Hair Color |
Not Available |
Who Is Chung Mong-koo's Wife?
His wife is Lee Jung-Hwa (Deceased)
| Family |
| Parents |
Not Available |
| Wife |
Lee Jung-Hwa (Deceased) |
| Sibling |
Not Available |
| Children |
4 |
Chung Mong-koo Net Worth
His net worth has been growing significantly in 2023-2024. So, how much is Chung Mong-koo worth at the age of 85 years old? Chung Mong-koo’s income source is mostly from being a successful businessman. He is from Japan. We have estimated Chung Mong-koo's net worth, money, salary, income, and assets.
| Net Worth in 2024 |
$1 Million - $5 Million |
| Salary in 2024 |
Under Review |
| Net Worth in 2023 |
Pending |
| Salary in 2023 |
Under Review |
| House |
Not Available |
| Cars |
Not Available |
| Source of Income |
businessman |
Chung Mong-koo Social Network
| Instagram |
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| Linkedin |
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| Twitter |
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| Facebook |
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| Wikipedia |
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| Imdb |
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Timeline
Chung Mong-koo (born March 19, 1938, in Kangwon Province) is a South Korean businessman.
He is the honorary chairman and former CEO of Hyundai Motor Group, Korea's second largest chaebol that manages 54 subsidiaries including Hyundai Motor, Kia Motors, and Hyundai Steel.
He started his career in 1970, joining the engineering & construction division of the group.
Chung succeeded his father, Chung Ju-yung, the founder of the conglomerate known as the Hyundai Group.
When the conglomerate split into several parts in 1999, Chung Mong-koo took over the Hyundai Motor division.
In 2006, he and his family were targeted by the Seoul Supreme Prosecutor's Office as part of an investigation into embezzling 100 billion won ($106 million) from Hyundai to create slush funds to bribe officials.
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.
He was convicted of embezzlement and breach of fiduciary duty in February 2007, but was given a suspended sentence and was fully pardoned by President Lee Myung-bak.
He also owns INNOCEAN Worldwide, an ad & marketing agency, with his eldest daughter Chung Sung-yi.
Chung is described as a "vigorous septuagenarian" who comes to work at 6:30 a.m. and "personally heads monthly quality reviews with senior executives".
Although he only holds 5.2% of Hyundai Motor’s stock, Chung "wields disproportionately strong control" and is able to control its board thanks to a complex corporate governance arrangements in which Hyundai Motor owns 34% of Kia, which owns 16.9% of Mobis, which in turn owns 20.8% of Hyundai Motor.
This means that "because the companies essentially control each other, no outside shareholder is strong enough to name board members".
On 5 February 2007 he was convicted of embezzlement and breach of fiduciary duty for selling securities to his son Chung Eui-sun at below-market prices.
He was sentenced to three years in prison.
Chung remained free on bail while he appealed the sentence.
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,
community service and a $1 billion donation to charity.
The trial was seen as "a victory for transparency and rule of law in South Korea", but on August 15, 2008, South Korean President Lee Myung-bak granted him a special pardon to allow Chung to continue to contribute to the development of Hyundai Motor Group as well as the Korean economy.
His only son Chung Eui-sun is his "heir apparent", despite his relatively unproven business and leadership skills.
According to Bloomberg, "no one can assess how Eui Sun will perform when he becomes chairman because his father keeps him on a tight leash".
Furthermore, in 2011, he was accused of nepotism when Ozen, a bakery cafe whose advisors included his three daughters Sung-yi, Myung-yi, and Yun-yi, set up shop in company buildings.
Ozen eventually closed in 2012.
