Hyundai scion turns to LBO market for ESG fund

Kyungsun Chung (pic), a grandson of the Hyundai Motor Co empire founder Chung Ju-Yung, is hoping to combine LBOs with his connections to some of Asia’s most powerful clans to drive impact investments that generate a profit but also do environmental, social and governance good.

IN the world of finance, leveraged buyouts (LBOs) are sometimes seen as controversial – the domain of fictional villain Gordon Gekko from “Wall Street” – where firms borrow large sums of money to buy their targets.

But Kyungsun Chung (pic), a grandson of the Hyundai Motor Co empire founder Chung Ju-Yung, is hoping to combine LBOs with his connections to some of Asia’s most powerful clans to drive impact investments that generate a profit but also do environmental, social and governance good.