A ceremony was held on Tuesday to mark the 100th anniversary of the birth of Hyundai Group Founder Chung Ju-young.
 
Former Prime Minister Chung Hong-won said in his opening remarks that the indomitable spirit of the Hyundai founder, who refused to fear failure and accepted challenges, provided a great lesson for people today seeking a new future.
 
Hyundai Motor Group Chairman Chung Mong-koo, the founder’s eldest son, said that abiding by his father’s wishes and teachings, he would do his best to help the country emerge as a world economic power.
 
About 500 celebrities attended the ceremony including former President Lee Myung-bak, Finance Minister Choi Kyung-hwan and U.S. Ambassador to Seoul Mark Lippert.