`Big Chung' Is Back In The SaddleLaxmi Nakarmi
For South Korea, it was one of the most bitter dogfights of the decade. Chung Ju-Yung, founder and honorary chairman of the Hyundai group, dared to make a bid for the Korean presidency in 1991, challenging favorite Kim Young Sam. After Kim triumphed at the ballot box, he launched a campaign of retribution against Chung and Hyundai. Chung was forced to retire from day-to-day management after being convicted of improperly using company funds for his campaign. And Hyundai was denied financing from government-backed banks.
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