Hyundai Motor Group Hosts Memorial Concert for Founding Chairman Ju-yung Chung's 25th Passing Anniversary
Hyundai Motor Group held a memorial concert featuring four renowned pianists to mark the 25th anniversary of founding chairman Ju-yung Chung's passing.
2,500
USD 930 million
52–27
What Happened
Hyundai Motor Group hosted the 'Memorial Concert for Asan Ju-yung Chung: Resonance That Continues' on February 25 at the Seoul Arts Center Concert Hall. The concert drew more than 2,500 attendees, including government officials, business leaders, Executive Chair Euisun Chung, and the founder's family. Four leading Korean pianists—Sunwook Kim, Yekwon Sunwoo, Seong-jin Cho, and Yunchan Lim—performed works by Schubert, Rachmaninoff, Wagner, and Liszt to interpret the late chairman's life and spirit.
“My grandfather's beliefs and all his challenges began with 'people.' He had faith in the potential of people and achieved innovation for them.”
2,500attendees
Included government, business, and family members at the Seoul Arts Center concert.
The late Ju-yung Chung founded Hyundai Motor Service in 1946 and Hyundai Civil Works in 1947, later merging them into Hyundai Engineering & Construction. He spearheaded Korea's first overseas construction project in Thailand, secured the $930 million Jubail port contract in Saudi Arabia, and founded Hyundai Motor Company in 1967, developing Korea's first mass-market car, the Pony. His problem-solving approach, such as sinking a vessel to complete a seawall, is remembered as the 'Ju-yung Chung method.'
Why this matters
The event underscores Hyundai’s continued reverence for its founder’s human-centric philosophy, which guides the company’s long-term vision of 'Progress for Humanity.'
Terms in This Story
- VLCC
- Very large crude carrier, a type of oil tanker used for transporting crude oil.
- Tidelands
- Coastal land that is submerged at high tide and exposed at low tide, often reclaimed for agriculture or development.
- Reclamation
- The process of converting land that is under water or otherwise unusable into land suitable for habitation or cultivation.
- Jubail Industrial Port
- A major industrial port in Saudi Arabia, built under a contract won by Hyundai in the 1970s.
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