35 Facts About Chung Ju-yung

Chung Ju-yung or Jung Joo-young, was a South Korean entrepreneur and the founder of Hyundai Groups, one of the largest chaebols in South Korea.

Chung Ju-yung was a vital contributor to the development of South Korea's infrastructure after the Korean War's destruction of infrastructure, such as constructing the Gyeongbu Expressway in 1970, connecting the capital, Seoul, to the port city of Busan, in alliance with President Park Chung Ju-yung Hee.

Chung Ju-yung was born in Tongchon, Korea, Empire of Japan.

Chung Ju-yung was able to attend a local Confucian school run by his grandfather whenever his time was not taken up by tasks on the family farm.

The journey came to an end when Chung Ju-yung's father found the two staying at Chung Ju-yung's grandfather's house nearby.

Chung Ju-yung found himself in Asan, where he remained for a year helping his father work on the family farm.

Once his duties to the family were complete, Chung Ju-yung decided it was time to make another attempt at getting out of poverty.

Chung Ju-yung managed to get a train ticket for 70 won by selling one of his father's cows.

Once he arrived in Keijo, Chung Ju-yung enrolled himself in a local bookkeeping school hoping to start a career as an accountant.

In 1933, at age 18, Chung Ju-yung decided to make a fourth escape.

Chung Ju-yung left during the night with a friend who was trying to escape a forced marriage.

Once Chung Ju-yung reached the capital, he jumped at any job he could find.

Chung Ju-yung worked first as a laborer at Jinsen Harbor, a construction worker at Boseong Professional School and as a handyman for a starch syrup factory.

Chung Ju-yung was allowed to manage the store's accounting after six months on the job.

At age 22, Chung Ju-yung became the owner and renamed the store to Kyungil Rice Store.

Chung Ju-yung returned to his village once his business failed and remained there until 1940, when he decided to try again in Keijo.

In 1946, after the liberation of Korea from Japanese control, Chung Ju-yung started Hyundai and Hyundai Civil Industries in anticipation of the post-war reconstruction and industrialization.

Chung Ju-yung won government contracts and became responsible for building much of South Korea's transportation infrastructure, including the Soyang Dam in 1967, the Gyeongbu Expressway in 1970, the world's largest shipyard in Ulsan, and the Kori Nuclear Power Plant, among others.

Chung Ju-yung won contracts from the United States Forces Korea to build facilities for their personnel, leveraging his younger brother's English proficiency and good relationship with US Army engineers.

Chung Ju-yung continued to build onto the company by gathering any kind of work he could get from the United Nations Command and the Korean Ministry of Transportation.

Chung Ju-yung continued to grow and diversify the company into one of South Korea's chaebols.

The first vessel was completed in three years as Chung Ju-yung had the shipyard and vessel built simultaneously.

Chung Ju-yung introduced the Hyundai Pony in 1975 and the Hyundai Excel in 1986, using European expertise.

Chung Ju-yung was the first civilian to cross the Korean DMZ since the division of Korea.

Chung Ju-yung was the first to propose the Geumgangsan sightseeing excursions.

Chung Ju-yung founded the Hyundai Heavy Steel Company, which developed a non-dock ship-making method.

Chung Ju-yung's philanthropy distinguished him from the other businessmen of his generation.

In 1982, Chung Ju-yung received the Golden Plate Award of the American Academy of Achievement.

Chung Ju-yung is credited with successfully lobbying for South Korea to host the 1988 Summer Olympics.

Chung Ju-yung ran unsuccessfully as a Unification National Party presidential candidate for the 1992 South Korean presidential election.

Chung Ju-yung turned to Chung, who was already negotiating a large program with the North.

The historic 2000 inter-Korean summit took place, with Chung Ju-yung traveling across the border in a motorcade of cars containing some 1001 "unification cows" as a gift to the North Korean people.

Chung Ju-yung died in 2001 at the age of 85 from pneumonia; he had been receiving at-home treatment for other long-term illnesses.

Chung Ju-yung was buried in accordance to Buddhist and Confucian customary rites.

Chung Ju-yung had five brothers and one sister; he had eight sons and one daughter with his wife.