Chung Se Yung, 76, former chairman of the Hyundai Motor Co., South Korea’s largest automaker, died of pneumonia Saturday at a hospital in Seoul.
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Chung, who was treated for lung cancer in 2000, was hospitalized recently because of complications from a severe cold, Hyundai Development Co. said in a statement.
The younger brother of the late Hyundai Group founder Chung Ju-yung, Chung managed the automotive arm of what once was South Korea’s largest family-run business for 32 years.
In 1999, Chung and his son Se-Yung swapped their 8.3% stake in the carmaker for a 37.7% interest in Hyundai Industrial Development and Construction Co., then South Korea’s sixth-largest real estate and development firm.
Born in Kangwon-Do on Aug. 6, 1928, Chung earned his bachelor’s degree at the University of Korea in 1953 and his master’s degree and law degrees years later at Ohio’s Miami University.
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