Name:

Mong-Koo Chung

Date of Birth:

19th March 1938

Country of Birth:

South Korea

Country of Residence:

South Korea

Source of Wealth:

Hyundai

Marrital Status:

Widowed (Lee Jung-Hwa)

Children:

4

Mong-Koo Chung Net Worth USD: $3,040,000,000 - $3,360,000,000

2020 Mean Estimate USD:

$3,200,000,000

Mong-Koo Chung Biography

Mong-Koo Chung, born in 1938 in Gangwon Province is the second of eight sons of Chung Ju-yung, and the last surviving one. His father rose up from poverty to found Hyundai, one of the biggest conglomerates in Korea.

In 1999 the Hyundai Group split into several distinct parts with Mong-Koo Chung heading up the Hyundai Motor division, itself consisting of 42 subsidiaries, including Hyundai Mobis the publicly listed auto parts division.

Nicknamed the bulldozer courtesy of his blunt, domineering style, Chung was convicted of embezzlement in 2007, but was given a suspended sentence and subsequently had his conviction pardoned by the country’s president. After serving as chairman of Korea’s largest automobile producer for more than 20 years, he stepped down in March of 2020, his only son Chung Eui-sun taking over despite his perceived lack of experience.