Chung Ju-yung

DEFINITION of 'Chung Ju-yung'

The founder and former president of Korean automaker Hyundai. Chung was born into poverty in North Korea in 1915. He began his career as a construction laborer and a clerk in a rice store before founding Hyundai Motor Industrial Company in 1946 and Hyundai Civil Industries (a heavy construction company) in 1947.

BREAKING DOWN 'Chung Ju-yung'

Chung resigned from Hyundai in 1987 and worked in politics for five years in an attempt to reunify North and South Korea and increase economic growth in both countries. After an unsuccessful presidential campaign, he decided to pursue tourism as a means to achieve the ends he had not achieved through politics. He also established the charitable Asan Foundation, which provides medical and welfare services and academic scholarships. Chung was profiled in Time magazine's 2006 feature, "60 Years of Asian Heroes." He died in 2001.

RELATED TERMS
  1. KPW (North Korean Won)

    The currency symbol or currency abbreviation for the North Korean ...
  2. Jeffrey Sachs

    An American economist who is director of the Earth Institute. ...
  3. Construction Mortgage

    A loan borrowed to finance the construction of a home and typically ...
  4. Korean Composite Stock Price Indexes ...

    A series of indexes that track the overall Korean Stock Exchange ...
  5. International Poverty Line

    An international monetary threshold under which an individual ...
  6. KPW

    The currency symbol or currency abbreviation for the North Korean ...
Related Articles
  1. Personal Finance

    Kim Jong Il's Death And The Markets

    The sudden change in leadership in North Korea brings even more uncertainty to the markets.
  2. Mutual Funds & ETFs

    A Guide To Key ETFs Investing In South Korea

    An overview of the ETFs that offer investors an easy and efficient way to invest in South Korea's many leading companies.
  3. Economics

    Will North and South Korea Ever Reunite?

    North and South Korea have been divided for over six decades. Some analysts think the two countries could reunify within the next 10 years.
  4. Investing

    Why North Korea Hates The U.S.

    Here are the key reasons why North Korea hates the US and why their relations are so sour.
  5. Personal Finance

    How KIA Motors Is Reinventing Itself

    How has Kia turned itself from an ultra-cheap low tier car brand to one of the hottest, fastest-growing brands in just a few years?
  6. Economics

    The Constant Crisis Of The North Korea Economy

    A peek into the secretive and totalitarian economy of North Korea
  7. Investing News

    North Korean Sanctions Just Got Serious

    Seoul's decision to shut down the Kaesong Industrial Complex is a blow to the region's attempts at economic cooperation and peaceful coexistence.
  8. Investing

    This Undercover Emerging Market Could Be Asia's Next Big Hit

    Smart investors are always keeping their eyes toward other frontiers, turning over stones to find value where others may least expect it. For many, that means unearthing lesser-known opportunities ...
  9. Investing

    Why North Korea & South Korea Are Separated

    Once united for centuries, today North and South Korea are perfect examples of opposite worlds, divided by politics and ideologies.
  10. Economics

    4 Economic Challenges South Korea Faces in 2016

    Learn about the economic challenges South Korea faces in 2016. Discover the impacts of currency fluctuations, the Chinese economy and Fed rate cuts.
RELATED FAQS
  1. What are the most popular companies in the automotive sector right now?

    Learn about the largest global automobile manufacturers, including the most popular automakers by sales volume and companies ... Read Answer >>
  2. Is North Korea a developed country?

    Understand what makes a developed country, and learn why North Korea is about as far from reaching that status as a country ... Read Answer >>
  3. What's the average salary of an audit clerk?

    Learn how much audit clerks earn per year on average, and review what these finance professionals and others in similar fields ... Read Answer >>
  4. How did Warren Buffett get started in business?

    Warren Buffett may have been born with business in his blood. He started saving while other children were at the playground, ... Read Answer >>
  5. To what extent has global competition affected the profitability of U.S. car manufacturers?

    Learn more about the Big Three automakers and how global competition from foreign car manufacturers impacts profitability ... Read Answer >>
  6. Is South Korea a developed country?

    Understand the criteria for determining if a country is developed, and learn why South Korea ranks as a developed country ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center