Hyundai's founder split his empire between feuding sons, and the heir he chose jumped from his office during a corruption probe

Chung Ju-yung built Hyundai into South Korea's largest conglomerate. In 2000 two of his sons, co-chairmen Chung Mong-koo and Chung Mong-hun, fought over succession in what the Korean press called the Battle of the Princes. Mong-koo sacked the head of Hyundai Securities while Mong-hun was abroad. Mong-hun returned three days later, went to his father, reversed the decision and had Mong-koo removed instead. The father announced that he and both sons would step down, then backed Mong-hun. The group was broken up. Mong-koo took the car business and nine other affiliates as Hyundai Motor Group; another son, Mong-joon, took Hyundai Heavy Industries. Mong-hun kept the core group and its North Korea projects. In 2001 creditors took Hyundai Engineering & Construction through a debt-equity swap. In August 2003, while under investigation over secret payments to North Korea before the 2000 summit, Mong-hun died after falling from his office building in Seoul. His widow, Hyun Jeong-eun, took over the remaining Hyundai Group^†. In 2026 Hyundai Motor Group, the branch the losing brother took, is the largest piece^†.