[비즈한국] In recent years, members of the third generation of the Pan-Hyundai family, such as Hyundai Motor Group Chairman Chung Eui-sun, HD Hyundai Group Chairman Chung Ki-sun, and Hyundai Department Store Group Chairman Chung Ji-sun, have shown a strong presence in the business world. Among the fourth generation, however, it is difficult to find individuals with a notable footprint yet. This is interpreted as being due to their young age, making it premature for them to step to the forefront of management. Amid this, it has been confirmed that fourth-generation Hyundai family member Chung Chang-geon is the largest shareholder of HNIX.
Chung Chang-geon (19) was born to former HN Inc President Chung Dae-sun (49) and former announcer Noh Hyun-jung (47). According to the 2025 HNIX audit report, Chung Chang-geon is the largest shareholder, holding a 39.74% stake in HNIX. Other shareholders of HNIX include △HNIX CEO Cha Dong-won with 18.50%, Asan Foundation Chairman Chung Mong-joon with 11.75%, HL Holdings with 10.39%, Hyundai Material with 8.95%, and KCC Group Chairman Chung Mong-jin with 5.17%. Looking solely at the shareholding structure, the influence of the Pan-Hyundai family beyond Chung Chang-geon is significant.
HN Inc established the entity HNIX in 2022 through a physical spin-off of its IT service business division. Subsequently, HN Inc sold a portion of its HNIX shares to the Pan-Hyundai family. This is why individuals or companies from the Pan-Hyundai family appear on the HNIX shareholder list. As of the end of 2022, the largest shareholder of HNIX was HN Inc with a 59.74% stake. Later, HN Inc faced a management crisis, and former President Chung Dae-sun sold HN Inc to Taecho E&C, an affiliate of SM Group, in 2024. Consequently, HN Inc's subsidiary, HNIX, also fell under the influence of Taecho E&C.
Taecho E&C absorbed and merged with HN Inc, and HN Inc's 59.74% stake in HNIX was sold off again. The individuals who acquired the HNIX shares were Chung Chang-geon and CEO Cha Dong-won. Of the 59.74%, 39.74% was acquired by Chung Chang-geon, and 18.50% by CEO Cha Dong-won. The remaining 1.50% was purchased by other investors. CEO Cha Dong-won has served as the head of HNIX since its inception and continues to hold the position. He also maintained his role as CEO of HNIX while HN Inc was under Taecho E&C.
Taecho E&C sold the 59.74% stake in HNIX for a total of 150 million KRW. Considering that HNIX is a company that generates tens of billions of won in revenue, this could be viewed as an excessively cheap deal. However, it must be taken into account that as of the end of last year, HNIX was in a state of complete capital impairment, with a total capital of negative (-) 50.2 billion KRW.
Attention is also focused on the possibility of Chung Chang-geon's participation in management. Born in 2007, Chung is not yet 20 years old. Therefore, analysts suggest it is too early for him to step to the front lines of management. BizHankook inquired with HNIX regarding the background of Chung’s share acquisition and the possibility of his involvement in management, but did not receive a response.
Last year, HNIX recorded 76.6 billion KRW in revenue and 3.7 billion KRW in operating profit. While not large in scale compared to Hyundai Motor, HD Hyundai, or Hyundai Department Store, it is symbolic that a company with a fourth-generation Hyundai family member as the largest shareholder is generating tens of billions of won in revenue. As HNIX counts multiple Pan-Hyundai family companies among its clients, interest is also directed toward its future performance.
The variable is the financial situation. HNIX is in a state of complete capital impairment, and its debt reached 64.5 billion KRW as of the end of last year. Given the scale of HNIX's operating profit, short-term financial improvement is not expected to be easy. While receiving investment from a third party is an option, there are concerns that this could expose the company to management control threats. Alternatively, the owner family, such as former President Chung Dae-sun or Chung Chang-geon, could directly participate in a capital increase. However, it is reported that the financial situation of former President Chung is also poor, with his Seongbuk-dong residence having been put up for auction last year.