Made in Korea: Chung Ju Yung and the Rise of HyundaiAmerican business folklore is awash with the adventures of successful entrepreneurs. Still, most of these stories are about Americans, neglecting important and courageous entrepreneurs from other countries. Made in Korea recounts the story of how Chung Ju Yung rose from poverty to build one of the world's largest and most successful building empires - Hyundai - through a combination of creative thinking, tenacity, timing, political skills, and a business strategy that few competitors ever understood. Chung entered the shipbuilding business with no experience and went on to create the world's largest shipyard. He began making automobiles when foreign experts unanimously predicted he would fail, and he started a global construction company that has built some of today's greatest architectural wonders. He even convinced the International Olympic Committee to select South Korea over Japan as the site for the highly successful 1988 Olympics. Unlike most CEO's of major firms, Chung has always preferred the company of his workers to that of the global executive elite. Hard work, creativity and a capacity to never give up - this is the essence of Chung's life. In each of his ventures, he exhibited a sheer determination to succeed, regardless of the obstacles, and he worked tirelessly to instil this drive in all of his employees. Even today, in the midst of Korea's worst economic crisis in over four decades, Chung's company is busy implementing plans to emerge as an even stronger contender in the world economy. Illustrated with 32 pages of colour photographs not previously seen in the West, including photos of Chung's recent historic visit to North Korea in 1998, Made in Korea takes stock of Chung's entire life, highlighting both his contributions to society and the lessons his work can teach to aspiring entrepreneurs. |
Contents
KOREA AND CHUNG JU YUNG | 1 |
KOREAS ENTREPRENEURIAL HERITAGE | 12 |
LEARNING THE BUSINESS | 28 |
Becoming a Rice Merchant | 35 |
Creating the Mother Company | 41 |
REBUILDING THE HOMELAND | 47 |
VICTORY AT SEA | 94 |
CONTRACTOR TO THE WORLD | 108 |
The New Industrial Order | 148 |
OLYMPIC PURSUITS | 157 |
PASSING THE TORCH | 170 |
At Home with Chairman Chung | 179 |
DEVELOPING THE HYUNDAI SPIRIT | 200 |
LESSONS FOR THE GLOBAL ENTREPRENEUR | 219 |
PRINCIPAL COMPANIES OF THE HYUNDAI | 239 |
NOTES | 251 |
Other editions - View all
Common terms and phrases
American Asan village assembly automobile become began brother build built Business Korea campaign cars Chaebol Chairman Chung Chun Chung Ju Yung Chung Mong Chung Mong Joon competitive Confucian Construction Company contract corporate culture Daewoo DRAM efforts election employees enterprise entrepreneurs established exports facility global honorary chairman Hyundai Business Group Hyundai Construction Hyundai Electronics Hyundai Electronics Industries Hyundai Engineering Hyundai executives Hyundai Group Hyundai Heavy Industries Hyundai Motor Company Hyundai Precision Hyundai Securities Ibid interview with Chung investment Japan Japanese Jubail Korean companies Korean Dynasty Korean firms Korean government labor leaders learned major managers manufacturing ment million North overseas pany Park Chung Hee Park's percent Personal interview plant political President Kim President Park production rice Roh's salaryman Samsung semiconductor Seosan shipbuilding ships South Korea success throughout tion Ulsan venture workers world's largest