Chey Jong-Hyon

Chey Jong-Hyon was a Korean businessman, educator, and philanthropist who transformed SK Group into a global leader in energy, chemical, and telecommunications. He was born in Suwon, Gyeonggi Province in 1929 as the second eldest son in a family of eight children. His father was a teacher and his mother was a devout Buddhist. He graduated from Suwon Agricultural Life High School in 1950 and enrolled at Seoul National University, majoring in agricultural engineering. However, the outbreak of the Korean War forced him to suspend his studies and flee to the United States. He transferred to the University of Wisconsin, where he majored in chemistry and graduated in 1956. He then enrolled at the University of Chicago, where he earned his master's degree in economics in 1959. He returned to Korea in 1962 and joined Sunkyong Textile, a company founded by his older brother, Choi Jong-Kun. He became the vice president of the company and helped develop various hit products, such as crepon, angora wool, and field jacket liner. He also established Sunkyong Synthetic Fiber Co., Ltd. and built a polyester plant in 1969. He was appointed as the chairman of Sunkyong Textile in 1973, following the death of his brother. He changed the name of the company to SK Group in 1997 and expanded its business to encompass the energy, telecommunications, and semiconductor sectors. He acquired Korea Oil Corporation, the largest energy company in Korea, in 1980 and Korea Mobile Telecommunication, the first mobile phone service provider in Korea, in 1994. He also invested in Hynix Semiconductor, one of the world's leading memory chip makers, in 1998. He was a visionary leader who foresaw the future trends and opportunities in the global market. He was also a social contributor who supported various causes, such as education, culture, and sports. He founded the SK Heritage Museum in 1996 to preserve and promote the Korean cultural heritage. He also established the CHEY Institute for Advanced Studies in 1998 to foster academic research and exchange in the fields of scientific innovation and geopolitical risk. He was awarded the Gold Tower Order of Industrial Service Merit in 1973 and the Grand Order of Mugunghwa in 1998 for his outstanding contributions to the national economy and society. He was also elected as the president of the Federation of Korean Industries in 1993 and served as the chairman of the Private Committee for National Competitiveness. He was diagnosed with lung cancer in 1997 and passed away on November 25, 1998 at the age of 69. He was survived by his wife, Kim Young-Ja, and four children, Chey Tae-Won, Chey Shin-Won, Chey Mi-Won, and Chey Bo-Won. He was buried at Bundang Memorial Park in Seongnam, Gyeonggi Province. He is widely regarded as one of the most influential and respected businessmen in Korean history.