As the most typical Korean self-made businessman, Hyundai Group founder Jung Joo-Young had overcome all the difficulties and challenges through "Jung Joo-Young type's surmounting" based on his invincible pioneer spirit, experimental spirit, mighty risk-taking nature toward creativity, and enterprisi...
As the most typical Korean self-made businessman, Hyundai Group founder Jung Joo-Young had overcome all the difficulties and challenges through "Jung Joo-Young type's surmounting" based on his invincible pioneer spirit, experimental spirit, mighty risk-taking nature toward creativity, and enterprising disposition. His life had been kept with his endless combative spirit and constant, creative imagination. He had never been daunted by new ideas, having 'innate risk-taking' disposition based on thorough strategical calculations behind the back of his creditable traits like hard-work, devotion, frugality and screwing. He started his own business under the name of Hyundai in May, 1974, took the lead to reconstruct the national territory totally burn down by the 6.25 war through the post-war restorative construction plan in the 1950s, and successfully put up Hyundai as the best construction firm in Korea in the 1960s, firstly leading Hyaundai to the first Korean construction company marching into foreign markets. In the 1970s, Hyundai helped transform the then light industry-centered Korean business structure to the heavy industry-centered one by spreading its business into the shipbuilding, automobile, steel, and machinery sectors. Even more, the company played a contributing role in leading to the rapid development of Korean economy through the branching-out into the Middle East. Then, the Korean business structure could become advanced by Hyundai marching up into the electronic, petrochmical, and aerial sectors in the 1980s. Hyundai kept trying to develop new technologies and add high values in each sector, and drive Hyundai to be the best in technology and global competitiveness by stressing global management in the 1990s. From the late 1998 to 1990, its inter-Korean economic cooperation efforts and Mt. Kumgang tourism project Hyundai arranged were great enough to attract the international attention if these approaches could help dissolve the frozen wall of the North beyond inter-Korean economic cooperation. He was born with the trait of never giving up any plans he had ever made up. The impossible project of building up world's biggest shipbuilding yard on the desert where rocks are carelessly rolling about could be picked as an example well reflecting his creditable pioneer spirit. Many unbelievable but creative ideas came out from him like ; an anecdote of Mr. Jung showing a picture of turtle ship engraved on a Korean coin in order to borrow some loan from England regarding to the shipbuilding yard construction ; significantly reducing construction cost by carrying resources via barges when Jubail Industrial Port development known for 21 century's biggest construction was under way ; 'Oil Carrier Method of Construction' created up during the Seosan reclaimed area fostering. In this sense, Hyundai Group that has kept its journey toward something challengeable deserves to be called as a venture company, resulting in a development cornertstone of Korean economy and technology. In the situation not that good to hope something positive with little even basic foundation, he played a leading role by encouraging businessmen to take a wider view toward the global market. As is what he hoped, he succeeded in bringing up Hyundai as a global company, greatly leading to an economic development in Korea.
As the most typical Korean self-made businessman, Hyundai Group founder Jung Joo-Young had overcome all the difficulties and challenges through "Jung Joo-Young type's surmounting" based on his invincible pioneer spirit, experimental spirit, mighty risk-taking nature toward creativity, and enterprising disposition. His life had been kept with his endless combative spirit and constant, creative imagination. He had never been daunted by new ideas, having 'innate risk-taking' disposition based on thorough strategical calculations behind the back of his creditable traits like hard-work, devotion, frugality and screwing. He started his own business under the name of Hyundai in May, 1974, took the lead to reconstruct the national territory totally burn down by the 6.25 war through the post-war restorative construction plan in the 1950s, and successfully put up Hyundai as the best construction firm in Korea in the 1960s, firstly leading Hyaundai to the first Korean construction company marching into foreign markets. In the 1970s, Hyundai helped transform the then light industry-centered Korean business structure to the heavy industry-centered one by spreading its business into the shipbuilding, automobile, steel, and machinery sectors. Even more, the company played a contributing role in leading to the rapid development of Korean economy through the branching-out into the Middle East. Then, the Korean business structure could become advanced by Hyundai marching up into the electronic, petrochmical, and aerial sectors in the 1980s. Hyundai kept trying to develop new technologies and add high values in each sector, and drive Hyundai to be the best in technology and global competitiveness by stressing global management in the 1990s. From the late 1998 to 1990, its inter-Korean economic cooperation efforts and Mt. Kumgang tourism project Hyundai arranged were great enough to attract the international attention if these approaches could help dissolve the frozen wall of the North beyond inter-Korean economic cooperation. He was born with the trait of never giving up any plans he had ever made up. The impossible project of building up world's biggest shipbuilding yard on the desert where rocks are carelessly rolling about could be picked as an example well reflecting his creditable pioneer spirit. Many unbelievable but creative ideas came out from him like ; an anecdote of Mr. Jung showing a picture of turtle ship engraved on a Korean coin in order to borrow some loan from England regarding to the shipbuilding yard construction ; significantly reducing construction cost by carrying resources via barges when Jubail Industrial Port development known for 21 century's biggest construction was under way ; 'Oil Carrier Method of Construction' created up during the Seosan reclaimed area fostering. In this sense, Hyundai Group that has kept its journey toward something challengeable deserves to be called as a venture company, resulting in a development cornertstone of Korean economy and technology. In the situation not that good to hope something positive with little even basic foundation, he played a leading role by encouraging businessmen to take a wider view toward the global market. As is what he hoped, he succeeded in bringing up Hyundai as a global company, greatly leading to an economic development in Korea.
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