After earning his M.B.A. from Columbia University, Kyungsun Chung, grandson of late Hyundai group founder Chung Ju-yung, could easily have joined one of South Korea’s largest business groups, just like many of his cousins did. But after looking into climate change, Chung chose to forge his own path as an impact investor.n late September, Hurricane Ian tore through southwestern Florida, killing more than 100 people and damaging some 18,000 homes.
“When I went to business school, that was the first time I got to see a lot of data on climate change,” says Chung, 36, in an interview on the sidelines of the, where he spoke on a panel about ESG and sustainability. “Looking into the data really made me worry because, for one thing, my livelihood will be affected. And the second thing is, the first industry that will be wiped out because of climate change is the insurance industry.
In February, Chung made his first investments, though it wasn’t related to climate change—at least not directly. Sylvanmajority stakes in four Singapore healthcare and pharmaceutical companies for $140.5 million: Artemis Health Ventures, DX Imaging, Juniper Biologics and Juniper Therapeutics. “Everything is so intertwined,” says Chung. “You cannot push for climate action without getting the buy-in from the people.
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