At Hyundai Motor, the country's second-largest chaebol after Samsung, it's critical for Chung, 49, to secure control over his father's shares. The elder Chung owns stakes in Hyundai Motor and Hyundai Mobis of 5.3 per cent and 7.1 per cent, respectively, allowing him to control the conglomerate through a web of cross shareholdings. His holdings in the group's listed units, worth $2.2 billion, are subject to inheritance tax of as much as 60 per cent.