Hyundai marks 100th anniversary of late founder Chung's birth
Former President Lee Myung-bak, left, shakes hands with Hyundai Motor Group Chairman Chung Mong-koo during a ceremony to commemorate the 100th anniversary of the late Hyundai Group founder Chung Ju-yung’s birth, at the Grand Hyatt Hotel in Seoul, Tuesday. / Yonhap
By Park Jin-hai
Hyundai Motor Group and other affiliates held a ceremony to pay tribute to the conglomerate’s late founder, Chung Ju-yung, marking the 100th anniversary of his birth Tuesday.
Over 500 Hyundai executives, business leaders, politicians and diplomats participated in the celebration to commemorate Chung’s leadership and “Can-do” spirit.
Remembering the late founder during the celebration at the Grand Hyatt Hotel, former President Lee Myung-bak said, “Chung was the nation’s first startup founder. His creativity, can-do spirit, and lack of fear of failure are values that will carry us to even greater heights in today’s digitalized world.”
“I believe his entrepreneurship provide great lessons for the business leaders of today, faced with fierce global competition, while giving hope and courage for the young people to rise again,” he added.
Chung, born to a poor farmer on Nov. 25, 1915, was a legendary entrepreneur, and is remembered as the man who led the industrialization and modernization of Korea.
With his most famous expression, “Hey, have you tried it?” he made things people thought to be impossible, happen, showing true entrepreneurship.
He expanded Hyundai, establishing Hyundai E&C, Hyundai Motor Group and Hyundai Heavy Industries. He helped build the Seoul-Busan Expressway, Korea's first major highway, and carried out a massive land reclamation project in Seosan, South Chungcheong Province, to help the farming industry
His lifetime achievements also include attracting the 1988 Summer Olympics against strong competition from Japan, when he convinced the International Olympic Committee that Korea had the ability to host the international sports event. In 1998, he crossed the demilitarized zone with a herd of 1,001 cattle as a gift to North Korea, making headway in the frozen relations between the two countries.
Chung died at the age of 86 in March, 2001.
His life and unconquerable spirit have been hailed in the book “Chung Ju-yung Is Still Alive,” by Kim Moon-hyun, former head of public relations at Hyundai Heavy Industries.
“Chung was a pioneer of the Korean economy who started his company in the war-stricken country and eventually took its products to overseas markets,” said Chung Hong-won, former prime minister who leads the interim foundation to mark the centenary anniversary.
Under the slogan of “Chung, man of an undefeatable spirit,” the foundation has organized symposiums and exhibitions to highlight his leadership and life story.
Hyundai Motor Group Chairman Chung Mong-koo, representing family members, said during the ceremony, “Reminding us of what my father achieved in his life, I cannot help but feel great love and have abiding respect for him. Following his inspiring example, I will do all I can to help the nation become a global power.”