Chung Ju Young And Hyundai Essay, Research Paper

Most Americans know Hyundai as a brand of automobile. In reality, the Hyundai Business Group is one of the world’s largest and the successful businesses with more than fifty subsidiaries that produce everything from cars to computer chips (Steers. 45). Who would have guessed that the founder of Hyundai started out growing rice? The founder of Hyundai, Chung Ju Young, is truly a global entrepreneur who is largely responsible for South Korea’s meteoric rise to the top of the marketplace. Chung has a unique combination of creativity, tenacity, timing, political skills and a business strategy that few competitors ever understood. Chung Ju Young’s life shows that success is not just being rich, but being completely happy about your job and your life in general.

What does it take to move from poverty to wealth? Chung Ju Young was raised on his family’s farm in North Korea (”a brief history” 2). Chung was the eldest son among six sons and two daughters in the village of Asan in the Song-Jung area of the Tong Chun district in Kangwon Province in 1915 (”a brief history” 2). From his grandfather, Chung learned Chinese classics. Chung had to memorize all Chinese classics in front of his grandfather who acted like a teacher. His grandfather abused him if he did not do well. It was horrible. He went to primary school. After school, Chung’s parents forced him into farming. He did not like living like his parents so he wanted to go to a city. He ran away four times in search of another way to earn his living(”a brief history” 2).

In 1933, Chung went to Seoul, and he was a delivery boy in a rice store (South Korean Businessman Chung Ju Yung 145). While working as the delivery boy, he saved money as much as he could do. For saving money, he walked to the company and wore autumn’s clothing instead of buying winter clothing. When he got payment, he always saved half of the payment. Finally, Chung’s first business endeavor was running a rice distribution company. His rice store called Kyungil, located on the street of Shindang-Dong, Seoul in 1938. About two years later, Chung was forced to close Kyungil Rice Store because Japanese military government outlawed Korean ownership of rice shops. Chung married Byun Jung-Suk, the eldest daughter of the chief official of his hometown (”a brief history” 4). He went on to establish a partnership company, “Ado Service” automobile repair factory. The “Ado Service” was forced to merge with Iljin Construction by the Japanese Government, however Chung gave up working for the automotive service factory shortly after the merger. Chung purchased 30 trucks and engaged in a subcontract for the transportation of ore from Ho-Dong gold mine situated at Susan-Kun. In 1946, Ado Service eventually led him to finding his own company that he named Hyundai, in 1946.

Chung Ju Young was called “The Lucky Man”. People believed Chung was not fortunate although he did very hard work and was diligent in order to become successful. Chung did not believe in fortune but believed fortune was an occasion or a chance. He knew how to catch good chances, and then how the chances brought to success. In addition, he tried his best was to reduce the amount of damage done when he had bad timing in his life. Therefore, people thought Chung had only good luck.

Chung believed that to be happy, the first thing was keeping good health because every development came from a good health condition. If you became unhealthy, it was hard to be thinking positively. Chung also believed that to be happy, we must have a wide understanding of other people and have an optimistic outlook on everything. Some people might have a better life than Chung. Some might have a much worse life than Chung did. If he had been an arrogant person and always envied someone, he would have an uncomfortable and unhappy life. Chung’s success also included realistic good setting. Although he did not get a high degree, he always thought about how to achieve his plans. He also read many books as a guide of life experience. If his first favorite teachers were his parents, books were the second favorite teachers. Lastly, a person who has a strong mind can overcome and succeed whenever suffering come. This statement makes him stay focused on having happy and successful life. Although we may go through much suffering, Chung did not lose sight of his goal and never gave up trying to achieve success.

I do not think success is directly related to money. If you reach your goal, then it is success. Sometimes people set their goal too high which makes it impossible to fulfil their goals. I always set my goal daily because it is important for me to accomplish the present goals. I also make goals before I make any changes in the beginning of any semester. I can predict, which classes I can get A’s or B’s, from that I can calculate my future G.P.A. In reality, your grade might be different from whether having a target to go for it or not. Since I set a goal for my G.P.A, I will do my best in order to get good grades. I will never give up although there were difficulties in studying. Therefore, I will be able to maintain my G.P.A in good stability.

I have a future dream of success, which is to build a building in the center of New York City. In addition, I want to expand my business global business. My success would not finish here. The more money I earn, I will spend a portion lot it for the country and its prosperity. First, I would give my parents enough money because they supported me and sent me abroad to study in foreign countries. I love them so I will help them enjoy the best of times. Secondly, I would support them and provide food so that children have better conditions in orphanages. Usually, most children who do not have enough education and grow up in bad conditions incur crime. Consequently, crime would decrease and economic conditions would improve. This is my current plan of success. In the future, it might change to a better or worse plan than the current one. It depends on how much hard I study and put effort right now. I really want to be a helpful person in my country and globally. Growing a healthy business means also keeping the economy healthy.

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