Jae-Un Chung: Business Leader
Jae-Un Chung (MS’69) began his career with Samsung Electronics in 1969 after receiving his master’s degree from SEAS in industrial engineering and operations research. He became managing director in 1978 and, in 1982, he was named vice-president. In that role, he spearheaded the company’s ten-year vision and started the “Open Door Policy” that led to “Open Management.”
In 1984, he was named president of Samsung Electronics and president of Samsung Electro-Mechanics. Under his leadership, the companies received many awards for production efficiency, management excellence and export benchmarks. In addition, Samsung products became best-sellers in Korea.
He was named vice-chairman of Samsung Electronics in 1986 and earned the “Best Management Prize” of the Korean Management Association. In 1992, he was named chairman of the Westin Chosun Hotel and, the next year, was named chairman of Shinsegae Group, the popular Korean department store chain. Under his leadership, he introduced an ethical work spirit to the Shinsegae Group, resulting in a sound business environment for the company. In 1996, he was named honorary chairman of Shinsegae Group, a position he currently holds.