Youngest son of Chung Soon-yung, Chung Mong-yong took over the company in the lat 1990s and has expanded the company's products from iron castings to alloy wheels, batteries, and more.
The passage describes how Chung Mong-yong, son of Chung Soon-yung, took control of the company in the late 1990s and diversified its product line beyond just iron castings to include alloy wheels, batteries, and other items.