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Family behind Hyundai just made $2 billion on Apple collaboration report

Friday was also a good day for South Korea's richest person

Chung Euisun, executive vice chairman of Hyundai Motor Co
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Chung Euisun, executive vice chairman of Hyundai Motor Co., speaks during a new year company meeting at the automaker's headquarters in Seoul, South Korea, on Thursday, Jan. 2, 2020

Yoojung Lee | Bloomberg
A reported potential tie-up with Apple Inc. made South Korea’s second-richest family even richer.
 
Shares of Hyundai Motor Co. jumped as much as 25% in Seoul Friday -- the most since 1988 -- after South Korean media said the carmaker was in talks with the U.S. tech giant over developing self-driving vehicles. Hyundai initially confirmed the report before dialing it back to excise any mention of Apple, saying it had been receiving requests to cooperate on the technology from a number of companies.

Regardless, the stock surge boosted the combined fortune of Hyundai Motor Group Chairman Euisun Chung and