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.
- About the Author
- Latest Posts
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 this site, James writes a Sunday automotive column for The San Jose Mercury and East Bay Times in Walnut Creek, Calif., and a monthly auto review column for Gulfshore Business, a magazine in Southwest Florida.
An author and contributor to many newspapers, magazines and online publications, James has co-hosted The Weekly Driver Podcast since 2017.