Chung Ju Yung, 85, Founder Of the

Hyundai Group, Dies

Chung Ju Yung, who rose from peasant roots to found the Hyundai Group, Korea's
biggest business empire before it started to crumble this past year, died here on
Wednesday. He was 85.

Greater than every other Korean, Mr. Chung summarized the ''miracle'' of a nation
that increased in the devastation from the Korean War to get a fiscal giant. In the
final years, as his sons squabbled, he went after another dream, those of getting
back North and Columbia through trade, aid and investment.

Mr. Chung died annually following the breakup of his empire by factions brought by
a couple of his six making it through sons, Chung Mong Koo and Chung Mong Hun,
who offered briefly as co-chairmen from the Hyundai Group while their father was
honorary chairman.

The audience had overall sales in excess of $80 billion in 1999, its last twelve month
like a u . s . chaebol, or conglomerate, prior to the government forced it to update
and downsize to eliminate a number of its financial obligations. Chung Mong Koo,
placed responsible for the car division by his father, separated it in the group, while
Chung Mong Hun continued to be responsible for the group's troubled engineering
and electronics companies in addition to Hyundai Asan, created to conduct business
in North Korea.

In 1992, when Mr. Chung fought an not successful campaign for leader of Columbia,
his personal wealth was believed at $4 billion, making them Korea's wealthiest guy,
though recent estimations happen to be substantially below that much cla.

The troubles affecting Hyundai centered the final chapter within the existence from
the guy who in 1947 gave the title ''Hyundai,'' meaning modern, to his first
company, Hyundai Construction, and went his holdings like a Confucian autocrat
having a strong feeling of national, group and family loyalties.

While propounding ''the Confucian spirit,'' Mr. Chung also had belief in the capability
to overcome all odds because he billed into new fields.

Park Chung Hee, who ruled Columbia from 1961 until his murder in 1979, preferred
Chung Ju Yung with contracts for bridges, dams and streets. Mr. Chung then
broadened overseas, plunging in to the Middle East having a winning bid to
construct a harbor at Jubail, in Saudi Arabia around the Persian Gulf.

Mr. Chung, a peasant farmer's boy who never went beyond primary school, thought
that his success in construction justified his entry into cars, ship building and
electronics.

After building the automobile plant in Ulsan, around the southeastern coast, he
founded Hyundai Heavy Industries, and in Ulsan, several miles towards the east, in
1973. Eventually, nine Hyundai companies had industrial facilities in Ulsan, which
many Koreans would call Hyundai City.

Hyundai Heavy, now controlled by his sixth boy, Chung Mong Joon, may be the
world's biggest manufacturer of merchant ships.

In 1985, Mr. Chung purchased a more youthful brother, Chung Se Yung, then
responsible for the automobile company, to setup Hyundai Motor America. By 1986
the very first Hyundai Performs exceptionally well, subcompacts constructed with
Italian design and Mitsubishi engines, were around the American market.

Frightened of falling behind within the technology revolution, Mr. Chung in 1983
founded Hyundai Electronics to contend with Samsung Electronics, flagship from the
Samsung Group, Hyundai's rival for supremacy one of the Korean conglomerates.

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