Chung Ju-yung

Chung Ju-yung was a South Korean entrepreneur who founded the Hyundai Group, one of the largest chaebols in South Korea. He was born in a poor peasant family in North Korea during the Japanese colonial rule. He had a strong ambition and a knack for business since his childhood. He ran away from home twice to seek better opportunities in Seoul, where he worked as a construction laborer, a rice store clerk, and a grain company manager. He also served in the Japanese army during World War II. After the liberation of Korea in 1945, he started his own auto repair shop and later a construction company, which became the basis of his industrial empire. He expanded his business into various fields, such as shipbuilding, engineering, automobiles, electronics, and finance. He also contributed to the development of South Korea’s infrastructure and economy by building roads, bridges, dams, power plants, and factories. He was known for his innovative and daring management style, as well as his philanthropic and social activities. He established the Asan Foundation, a charitable organization that supports medical, educational, and cultural causes. He also played a key role in promoting inter-Korean relations and reconciliation, by organizing a historic visit to North Korea in 1998 and donating 500 cattle to his hometown. He died in 2001 at the age of 85, leaving behind a legacy of entrepreneurship, leadership, and patriotism.