Chung Sang-young, KCC honorary chairman dies at 84

Late KCC Honorary Chairman Chung Sang-young (right) and late Hyundai Group Chung Sang-yung are pictured at the event celebrating KCC Yeoju plant’s operational start in 1988. [Photo by Yonhap]

Chung Sang-young, founder and honorary chairman of South Korean industrial materials conglomerate KCC Group and the youngest brother and only surviving sibling of the late Hyundai Group Honorary Chairman Chung Ju-yung, passed away on Saturday at the age of 84, ending the era of the first generation of Hyundai mogul built by the Chung family.

He had been hospitalized recently due to a chronic illness.

Born in 1936, the late Chung was the longest-tenured CEO in Korea with nearly 60 years in management. He founded a slate manufacturer in 1958 and built it into KCC Group, the 32nd largest conglomerate in Korea with assets of 11 trillion won ($10 billion) as of 2020 and businesses spanning from construction to industrial materials.

He was the youngest sibling of late Hyundai Group Honorary Chairman Chung Ju-yung and the last surviving member of his generation within the Chung family, which has branched out to lead many of Korea’s major businesses including Hyundai Motor, Hyundai Department Store, and Hyundai Heavy Industries.

The bereaved families include his wife Cho Eun-joo, and their three sons KCC Chairman Chung Mong-jin, KCC Glass Chairman Chung Mong-ik, and KCC Construction Chairman Chung Mong-nyul.

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