As Hyundai continues its current front-of-the-pack status, the South Korean manufacturer's legacy is now going in a new direction. Chung Mong-joon, a veteran lawmaker and a son of the late Hyundai Group founder, has declared his candidacy for president.
Chung, 60, said in a news conference announcing his candidacy. "I will write a new history for Korea by drawing on my experiences in managing a firm, in foreign diplomacy and in helping the Republic of Korea become one."
The presidential election is scheduled for Dec. 19 with incumbent President Lee Myung-bak barred by law from seeking re-election.
Chung was re-elected to parliament for a seventh straight term in the April 11 general elections. It was Chung's second time being chosen to represent a Seoul electoral district, after serving five terms in the southeastern city of Ulsan, where the world's largest shipyard, Hyundai Heavy Industries Co., is based.
Chung, whose father was Chung Ju-yung, is the biggest shareholder of Hyundai Heavy Industries.
Article Last Updated: April 29, 2012.
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A sports, travel and business journalist for more than 45 years, James has written the new car review column The Weekly Driver since 2004.
In addition to founding this site in 2004, James writes a Sunday automotive column for The San Jose Mercury and East Bay Times in Walnut Creek, Calif., and monthly auto review and wellness columns for Gulfshore Business, a magazine in Southwest Florida.
An author and contributor to many newspapers, magazines and online publications, co-hosted The Weekly Driver Podcast from 2017 to 2024.
