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|Revised Romanization||Hyeondae Asan|
Hyundai Asan is an arm of the South Korean conglomerate Hyundai Group and a major investor in North Korea. The company manages a number of projects, including the resort at the Mount Kumgang Tourist Region and road/rail building operations. It is also involved in the Kaesong Industrial Park project.
The family-controlled Hyundai Group, which used to be South Korea's largest Chaebol, was split into three sub-groups after the Asian financial crisis. Chung Mong-hun was involved in a power struggle with his elder brother, Chung Mong-koo, who heads another part of the Hyundai Group, the automaker Hyundai Motor Company.
Hyundai Asan has faced accusations of being a vehicle for illegally transferring US$100 million to North Korea from the government of former South Korean President Kim Dae-jung. The money was supposedly used to persuade North Korean leader Kim Jong-il to attend the inter-Korean summit in 2000. Hyundai Asan is building an industrial park, cross-border roads and railway lines in North Korea. The delay of the projects, due to political difficulties, put severe financial strains on the company. The head of Hyundai Asan, Chung Mong-hun, faced corruption and embezzlement charges. Chung was tried on charges of manipulating company accounting records to hide the secret transfers and embezzling more than twelve million dollars of company funds to pay bribes. On August 4, 2003 he committed suicide by leaping from his 12th floor office.
Kaesong Industrial Park is being developed in North Korea, with the planned participation of 250 South Korean companies, employing 100,000 North Koreans, by 2007. Three companies started operations in March 2005, in the park's pilot phase.
Kim Dae-jung, was a South Korean politician and statesman who served as President of South Korea from 1998 to 2003. He was a 2000 Nobel Peace Prize recipient for his work for democracy and human rights in South Korea and in East Asia in general, and for peace and reconciliation with North Korea and Japan. He is also the only Korean to have won the Nobel Prize to date. He was sometimes referred to as "the Nelson Mandela of Asia". Kim was the first opposition candidate to win the presidency.
Hyundai Group was a South Korean conglomerate founded by Chung Ju-yung. The first company in the group was founded in 1947 as a construction company. With government assistance, Chung and his family members rapidly expanded into various industries, eventually becoming South Korea's second Enterprise Group. The company spun off many of its better known businesses after the 1997 Asian financial crisis, including Hyundai Motor Group, Hyundai Department Store Group, and Hyundai Heavy Industries Group. Chung Ju-yung was directly in control of the company until his death in 2001.
Chung Mong-hun was the 5th son of Chung Ju-yung, the founder of the South Korean Hyundai conglomerate. After the death of his father, he took over part of his father's role and became the chairman of Hyundai Asan, the company in charge of various business ventures between North and South Korea. He committed suicide in 2003.
A chaebol is a large industrial conglomerate that is run and controlled by an owner or family in South Korea. A chaebol often consists of many diversified affiliates, controlled by an owner whose power over the group often exceeds legal authority. The first known use in an English text was in 1972. Several dozen large South Korean family-controlled corporate groups fall under this definition.
Kaesong is a special city in the southern part of North Korea, and the capital of Korea during the Taebong kingdom and subsequent Goryeo dynasty. The city is near the Kaesong Industrial Region close to the border with South Korea and contains the remains of the Manwoldae palace. Called Songdo while it was the ancient capital of Goryeo, the city prospered as a trade centre that produced Korean ginseng. Kaesong now functions as the DPRK's light industry centre.
Kim Woo-Choong was a South Korean businessman who was the founder and chairman of Daewoo Group until its collapse in 1999.
Hyundai Engineering and Construction Co., Ltd. KRX: 000720 is a major construction company in South Korea. The company was founded by Chung Ju-yung in 1947 as the Hyundai Civil Works Company and was a major component of the Hyundai Group. Hyundai Construction and Hyundai Engineering merged in 1999.
Chung Ju-yung or Jung Joo-young, was a South Korean entrepreneur, businessman and the founder of Hyundai Groups of South Korea. Raised as the eldest son of a poor Korean farmer, he became the richest man in South Korea. Chung was an integral part to the rapid development of Korea's economy, growing Hyundai Heavy Industries to be the largest ship builder in the world, as well as growing Hyundai Motor Group into the largest automobile manufacturer in Korea, and the third largest in the world. Chung was also a vital contributor to the development of South Korea's infrastructure after the Korean War's destruction of much domestic infrastructure by constructing the Gyeongbu Expressway in 1970, connecting the capital, Seoul, to the port city of Busan, in alliance with the President Park Chung Hee.
The Kaesŏng Industrial Region (KIR) or Kaesŏng Industrial Zone (KIZ) is a special administrative industrial region of North Korea (DPRK). It was formed in 2002 from part of the Kaesŏng Directly-Governed City. On 10 February 2016, it was temporarily closed by the South Korean government and all staff recalled by the Park Geun-hye administration, although the President of South Korea, Moon Jae-in, has signalled his desire to "reopen and expand" the region.
Chung Mong-koo is a South Korean business magnate who was the former chairman and CEO of Hyundai Motor Group. He started his career back in 1970, joining the engineering & construction division of the group. The Hyundai Motor Group consists of 42 subsidiaries and is the second largest Chaebol in South Korea. Chung succeeded his father, Chung Ju-yung, the founder of the conglomerate known as the Hyundai Group. When the conglomerate split into several parts in 1999, Chung Mong-koo took over the Hyundai Motor division. He is the eldest surviving son of Chung Ju-yung's eight sons.
Hyundai is a South Korean industrial conglomerate ("chaebol"), which was restructured into the following groups:
The Miracle on the Han River refers to the period of rapid economic growth in South Korea, following the Korean War (1950–1953), during which South Korea transformed from a developing country to a developed country. The rapid reconstruction and development of the South Korean economy during the latter half of the 20th century was accompanied by events such as the country's successful hosting of the 1988 Summer Olympics and its co-hosting of the 2002 FIFA World Cup, as well as the ascension of family-owned conglomerates known as chaebols, such as Samsung, LG, and Hyundai.
Cash-for-summit is the name of a political scandal that broke in South Korea in February 2003 and revolved around the secret payment by the Kim Dae-jung administration to North Korea of 500,000,000 dollars to secure the landmark June 2000 North–South summit between the two Koreas.
Lee Myung-bak is a former South Korean politician, businessman, and convicted felon who served as President of South Korea from 2008 to 2013. Before his election as president, he was the CEO of Hyundai Engineering and Construction, as well as the mayor of Seoul from 1 July 2002, to 30 June 2006. He is married to Kim Yoon-ok and has three daughters and one son. His older brother, Lee Sang-deuk, is a South Korean politician. He attends the Somang Presbyterian Church. Lee is a graduate of Korea University and received an honorary degree from Paris Diderot University on 13 May 2011.
Chung Mong-joon or Chung Mong Joon is a South Korean businessman and politician. He is the sixth son of Chung Ju-yung, founder of Hyundai, the second-largest South Korean chaebol before its breakup in 2003. He remains the controlling shareholder of a Hyundai offshoot, Hyundai Heavy Industries Group, parent of the world's largest shipbuilding company. He is also the chairman of the board of the University of Ulsan and Ulsan College in Ulsan, South Korea. He is the founder and the honorary chairman of The Asan Institute for Policy Studies. He was Honorary Vice-President of FIFA and president of the South Korean football association.
Chung Eui-sun, also spelled Euisun Chung, is a South Korean billionaire businessman. He is the chairman of Hyundai Motor Group and the only son and "heir apparent" of Hyundai Motor Group honorary chairman Chung Mong-koo.
HDC Group is a large Korean chaebol (conglomerate). It is active in a wide array of business fields including property, petrochemicals, retail, leisure, sports, and finance. The current chairman of HDC Group is Chung Mong-Gyu.
Park Chung-hee was a South Korean politician and army general who served as the President of South Korea from 1963 until his assassination in 1979, assuming that office after first ruling the country as head of a military dictatorship installed by the May 16 military coup d'état in 1961. Before his presidency, he was the chairman of the Supreme Council for National Reconstruction from 1961 to 1963 after a career as a military leader in the South Korean army.
The 2016 South Korean political scandal involves the influence of Choi Soon-sil, the daughter of shaman-esque cult leader Choi Tae-min, over President Park Geun-hye of South Korea.
This article provides a list of political scandals that involve officials from the government or politicians of South Korea.