Grandson of the founder of automaker Hyundai, Chung, 44, was responsible for making over the brand image of affiliate Kia Motors Corp during his tenure as president from 2005 to 2009. Recognising the need to upgrade the brand’s image, he hired German automotive designer Peter Schreyer to retire boring car styles and to create snazzier models. The strategy worked and Kia grew faster than Hyundai during Chung’s time. Most of his fortune comes from Hyundai Glovis Co, a holding company for Hyundai affiliates that also provides logistics services.
Company:Hyundai Motor Co
Net worth:US$3.2 billion