Jeong Ju-yung

Chung Ju-yung or Jung Joo-young (; 25 November 1915 – 21 March 2001), was a South Korean entrepreneur, businessman and the founder of Hyundai Groups, one of the largest chaebols in South Korea. Raised as the eldest son of a poor Korean farmer, he became the richest man in South Korea. Chung was an integral part to the rapid development of Korea's economy, growing Hyundai Heavy Industries to be the largest ship builder in the world, as well as growing Hyundai Motor Group into the largest automobile manufacturer in Korea, and the third largest in the world. Chung was also 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 the President Park Chung Hee. Chung's business ventures steered through the tumultuous times of Japanese colonial rule in Korea as well as the post-Korean War stresses on the economy. Chung explained his success in his statement: "Our people succeeded because they devoted their enterprising spirits. They used the forces of other mind. Conviction ... creates indomitable efforts. This is the key to (true) miracles ... Man's potential is limitless." Life Early life Chung Ju-yung was born in Tongchon, Kangwondo, Chōsen (today located in Kangwon Province in North Korea). Born to a large impoverished family of peasants, he was the eldest of seven children. As a young boy, Chung dreamed of becoming a school teacher, but his hopes were cut short because the restrictive environment at the time kept the family stuck in poverty, effectively keeping Chung away from higher educational opportunities. Despite the setbacks, Chung 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.