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Special day for Hyundai chairman
President Park Geun-hye waves while test-riding a self-driving vehicle, developed by Hyundai Motor, at the Korea Aerospace Research Institute in Deajeon, Friday. / Yonhap
By Lee Hyo-sik
By Lee Hyo-sik
Hyundai Automotive Group Chairman Chung Mong-koo smiles after receiving an honorary degree for his contribution to the development of Korea’s automobile industry. / Courtesy of Hyundai Automotive Group
Hyundai Automotive Group Chairman Chung Mong-koo had a special day Friday for two reasons.
The 77-year-old tycoon, son of the late group founder Chung Ju-yung, received an honorary doctorate in engineering from his alma mater Hanyang University for his contribution to the nation’s auto industry.
He also participated in a ceremony to open a research center inside the college for eco-friendly and intelligent vehicles for the future.
The Chung Mong-Koo Automotive Research Center sits on a 12,724 square meter site on the school’s campus.
He was accompanied by his son and Hyundai Motor Vice Chairman Chung Eui-sun, and Kim Jong-ryang, chairman of board of directors at Hanyang University.
Chairman Chung said, “The facility represents Hyundai Motor’s strong will to nurture future generations of skilled workers and researchers in automobile engineering.”
Nearly 50 years ago, the senior Chung graduated from the school with a bachelor’s degree in industrial management.
Hyundai Motor started humbly, but is now one of the world’s leading carmakers with Kia Motor under its wing.
“Chung has successfully created a vertical integration from steel to automobiles, so Hyundai now produces steel plates, auto parts and other materials needed for vehicles,” the university said. “He also played a crucial role in building an effective global supply chain, which has enabled local auto parts markers to grow together.”
In Daejeon, meanwhile, one of Chung’s visions was being translated into reality with President Park Geun-hye riding in it.
It was a Hyundai-made self-driving car that Park was “test-driving” after presiding over a strategy meeting for the nation’s science and technology priorities.
Park was photographed waving with a smile on her face.