Our Heritage
Introduction
The Great Man of the Era
Asan Chung Ju-yung
1915 ~ 2001
Founder Chung Ju-yung of HD Hyundai was born in Asan-ri, Tongcheon, Gangwon Province, and was a towering figure in the modern history of Korea, leaving a significant mark at every critical turn toward modernization and reunification.
With his creative entrepreneurial spirit and unwavering drive, Asan founded Hyundai Motor Company and Hyundai Heavy Industries, making significant strides into the global market after rising from the ruins of the Korean War. He established Hyundai Engineering & Construction, leading monumental projects domestically and internationally like the Jubail Industrial Port in the Middle East and the Seosan seawall. Thus, he pioneered the industrialization and globalization of Korea, steering the country's economic development. Asan was pivotal in hosting the 1988 Seoul Olympics to Korea, enhancing its international stature and instilling pride in its people. In 1998, he drove a herd of cows through Panmunjom to North Korea, opening the gate for inter-Korean exchanges toward peaceful reunification.
Holding a firm belief in the social return of corporate profits, Asan established the Asan Foundation in 1977. The foundation has been fulfilling its mission to assist the most vulnerable in society, in line with the founder's intent, through medical services, social welfare support, academic research support, and scholarship programs. Initially focusing on establishing hospitals in medically underserved rural and fishing areas, in 1989, the foundation inaugurated Seoul Asan Hospital, evolving it into a world-class medical institution.
Asan said that “There may be periods of hardship but never complete failure,” and this positive mindset and spirit of challenge spirit will be eternally remembered and revered.
"I believe there are no failures as long as there is life.
As long as I am alive and healthy, there may be periods of hardship but never complete failure."
From the Autobiography "There Are Hardships But Never Failures"
Chronology of the Founder
1915 - 1940
November 1915
Born in Asan-ri, Songjeon-myeon, Tongcheon, Gangwon Province.
1930
Graduated from Songjeon Primary School.
1934
Worked at Bokheung Rice Store.
January 1938
Opened Kyungil Rice Shop.
January 1939
Married Madam Byeon Joong-seok.
1940 - 1950
March 1940
Established an automobile repair shop, Ado Service.
April 1946
Established Hyundai Motor Service Center.
May 1947
Established Hyundai Construction Company.
1950 - 1960
January 1950
Merged Hyundai Motor Service Center and the Hyundai Construction Company.
Established Hyundai Engineering & Construction Co., Ltd.
March 1950
Established Hyundai Transport Co., Ltd.
April 1953
Began restoration work on the Goryeong Bridge (Completed in May 1955).
September 1957
Secured a contract for the reconstruction of the Han River Bridge, the largest single construction project since the Korean War.
1960 - 1970
July 1962
Began construction of the Danyang Cement Plant.
September 1965
Secured a contract to build the Pattani-Narathiwat Highway in Thailand,
the first-ever overseas construction project carried out by a Korean company.
April 1967
Started construction of a multipurpose dam, Soyang River Dam (Completed in December 1973).
December 1967
Established Hyundai Motor Co., Ltd.
February 1968
Began construction of the Gyeongbu Expressway
January 1969
Appointed Chairman of the Korean Association for Community Education.
1970 - 1980
January 1970
Established Hyundai Cement Co., Ltd.
October 1970
Began construction of the first nuclear reactor at the Gori Nuclear Power Plant.
June 1971
Established Geumgang Development Co., Ltd.
March 1972
Held the groundbreaking ceremony for Hyundai Shipyard.
December 1973
Established Hyundai Shipbuilding Co., Ltd.
February 1974
Founded Hyundai Engineering Co., Ltd.
Established Hyundai Motor Service Co., Ltd.
April 1975
Established Hyundai Mipo Dockyard Co., Ltd.
March 1976
Established Asia Merchant Marine Co., Ltd. (Now Hyundai Merchant Marine).
June 1976
Secured a construction contract for the Jubail Industrial Port, Saudi Arabia
December 1976
Established Hyundai Corporation Co., Ltd.
February 1977
Appointed Chairman of the Federation Korean Industries (Served five terms in a row until 1987).
Inaugurated as the Chairman of the Ulsan Institute of Technology.
July 1976
Established the Asan Foundation and assumed the role of Chairman.
Established Hyundai Precision & Industrial Co., Ltd.
August 1978
Began work on the Seosan land-reclamation project.
1980 - 1990
May 1981
Elected committee Chairman of the Seoul Olympic Bidding Committee.
July 1982
Elected Chairman of the Korean Sport & Olympic Committee.
February 1983
Established Hyundai Electronics Co., Ltd.
February 1984
Completed the Seosan Reclamation project (Used the Chung Ju-yung method which used an oil tanker in the construction.)
November 1986
Established Hyundai Development Co., Ltd.
July 1989
Appointed Chairman of the ROK-USSR Economic Association.
1990 - 2001
October 1991
Completed construction of Hyundai Oil Bank Co., Ltd.
January 1992
Formed the Tongil Kukmindang, United People's Party.
March 1992
Elected as a member of the 14th National Assembly.
December 1992
Stood as a candidate in the 14th presidential election.
June 1998
Visited North Korea, bringing 500 head of cattle.
Met with North Korea's supreme leader Kim Jong-il.
February 1999
Established Hyundai Asan Co., Ltd.
March 2001
Passed away.