Chung Mong-Ko: South Korean Billionaire, Entrepreneur, and Former Chairman of Hyundai Motor Group2 photos

Chung Mong-koo is one of the most influential and wealthy individuals on the planet. Born on March 19, 1938, in Seoul, he graduated from Hanyang University in 1967 and soon after began working at his father's company, Chung Yu-yung's Hyundai Motor Group. In 2004, BusinessWeek named him the best CEO of the year. However, in 2006, he faced difficulties when he was accused of crimes related to fraud and corruption. He was arrested and sentenced to three years in prison, but his lawyer requested that he be released on bail. The chief judge then decided that the sentence could be replaced by extensive community service and a donation of one billion dollars to a charity fund.

During this time, while Chung Mong-koo was going through these personal challenges, his family company, Hyundai, continued to thrive and grow. Its history began in 1947 as a construction firm and has since evolved into the largest conglomerate in South Korea. It has undergone several reorganizations over the years, including after the East Asian financial crisis in 1997 and the death of the company's founder in 2001.

Today, Hyundai consists of several major divisions: Hyundai Group, Hyundai Kia Automotive Group, Hyundai Department Store Group, Hyundai Heavy Industries Group, and Hyundai Development Group. As a part of a global corporation, Hyundai is now the fifth-largest automobile manufacturer in the world, while its subsidiary Hyundai Heavy Industries is the largest shipbuilding company in the world. Hynix is also a leading semiconductor manufacturer. The name "Hyundai" truly reflects the company's commitment to modernity and innovation.