Hyundai marks anniversary of founders’ death

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Hyundai marks anniversary of founders’ death


Hyundai Heavy Industries executives attend an event to mark the anniversary of the death of Hyundai Group founder Chung Ju-yung in Ulsan, Friday. [NEWSIS]

Descendants of Hyundai Group founder Chung Ju-yung gathered on Friday to hold a memorial to commemorate the 14th anniversary of his death.

The ceremony was attended by the founder’s second son and chairman of Hyundai Motor Group, Chung Mong-koo, his third son Mong-keun, his sixth son and former lawmaker Chung Mong-joon, his daughter-in-law and chairwoman of Hyundai Group Hyun Jung-eun, Hyundai Marine & Fire Insurance Chairman Chung Mong-yoon, and Chairman of Hyundai Finance Corporation Chung Mong-il. The family members held the ancestral rite at the house in Jongno District, central Seoul, where the founder used to live.

The founder’s grandchildren, including Chung Eui-sun, vice chairman of Hyundai Motor, also attended the ceremony.

The founder passed away on March 21, 2001, and his family has held an ancestral rite for Chung each year. People in the industry said the Chungs are also deciding how they will mark the founder’s 100th birthday, which falls on Nov. 25.

Separately, some affiliates of Hyundai Group held a ceremony to commemorate their former leader. Hyundai Heavy Industries Group held a memorial at its headquarters in Ulsan, which was attended by the group’s Chairman Choi Ki-sun and President Kwon Oh-gap. Executives of the shipbuilder will also visit the founder’s tomb in Hanam, Gyeonggi, on Saturday.

The five schools that Chung established, including Hyundai Chungun High School and Hyundai Senior High School, also held memorials.

Born in November 1915, Chung established companies that became national leaders in many industries including Hyundai Motor and Hyundai Heavy Industries, and he is considered one of the most successful entrepreneurs in Korean history. He was also a lawmaker for about 10 months starting in May 1992 and ran for president in December that year.

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