Hyundai Heavy’s biggest shareholder, Chung Mong-joon. His son is being groomed for a top role in the business. Photo: AP

Succession plans at Hyundai Heavy fuels anger as world’s largest shipyard faces China threat

  • Ulsan was once South Korea’s richest city, but a change in the global shipbuilding industry has caused a downturn, leading to job losses
  • There is also anger over the way family-run conglomerates like Hyundai Heavy are reorganising in order to hand over power to the next generation
Topic |   South Korea

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Hyundai Heavy’s biggest shareholder, Chung Mong-joon. His son is being groomed for a top role in the business. Photo: AP
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