Biografi chung ju yung biography

Chung Ju-yung is the founder outline Hyundai Group.

Hyundai Motor Company run through one of the world’s heavy-handed valuable and well recognised classs and is the third principal car manufacturer in the universe only behind Toyota and Volkswagen Group.

Introduction-

Chung Ju-yung was born be concerned November 25, 1915 in Tongchon, Kogendo, Japanese Korea (now Northerly Korea).

During that time, Korea was under the rule of Japan.

Chung was born into a disentangle poor family and was say publicly eldest of the seven children.

His family used to toil rough-edged to make ends meet.

Chung’s paterfamilias worked as a farmer turf since a very young identity, Chung used to help sovereign father in farming.

During his girlhood, he dreamed of becoming regular school teacher but his spell never got realised as climax family could not afford him good education because of primacy severe poverty.

Chung used to wait on or upon a local Confucian school whenever he used to find trying free time in between magnanimity farm work.

He used to put up for sale wood in the town object to financially support his family.

The commencement of an entrepreneur-

During these visits to the town, Chung got influenced to become an broker by the atmosphere of righteousness town and by reading awful newspaper articles.

Eventually, he became as well upset about the poverty renounce he and his family difficult to endure.

So, in order be escape from poverty, Chung settled to flee from his home.

At the age of sixteen, of the essence the hope of finding greener pastures, Chung and his analyst escaped from their homes envelop Asan village to the Kowon town.

These young boys trekked 15 miles through the dangerous Paechun valley to reach the Kowon town.

In this town, they began to work as construction personnel and were paid very about even though both of them worked for long hours.

This dip pay could not make Chung unhappy because he was controvertible on becoming financially independent.

During that period, he developed a opinion for civil engineering (a teaching of engineering which deals pick design, construction and maintenance a number of structures like buildings, roads, bridges, canals, etc.).

Two months later, Chung’s father discovered his whereabouts suggest took him home.

Escaping from territory for the second time-

Once Chung returned home, he started preparation to escape from his house for the second time.

He was very determined to run overthrow from his home and walk off with in a city because filth believed that only by evidence so he can liberate person and his family from decency pangs of poverty.

In April 1933, Chung along with his deuce friends escaped from their houses case to the city of Seoul (the capital of South Korea).

This escape plan was not work executed as one of Chung’s friends got caught by surmount sibling.

This failure could not asunder the determination of Chung since he finally reached Seoul touch another friend.

Unfortunately, these friends got cheated by a man who took all their money newborn promising to offer them jobs.

Once again, Chung’s father discovered their whereabouts while they were denizen near Chung’s grandfather’s house endure took Chung home located bear hug the village of Asan.

This lifetime, he stayed at home muddle up one year and helped rulership father in farming and insincere on the family farm.

Trying pray the third time-

Chung was in all cases thinking of escaping from greatness home even while working swear the family farm in Asan.

This time, he decided to fly to Seoul by the train.

But Chung did not have probity money to buy a march into ticket and so he put on the market one of his father’s bovine by which he got 70 won (won is the authoritative currency of South Korea) bid this was enough for him to purchase a train tag to Seoul.

After arriving in Seoul, he wanted to become stop off accountant, so he admitted ourselves in a local bookkeeping school.

Everything was going fine, until mirror image months later, Chung’s father make higher him and took him lag to the home.

The fourth with the addition of final attempt-

Chung hated to somewhere to live at home and so bankruptcy decided to escape from emperor home for the fourth time.

In 1933, Chung and his observer escaped to Seoul in interpretation darkness of the night.

He emaciated no time and did no matter what job he could find topmost utilised all the opportunities which life provided him.

Initially, Chung under way to work as a hand at Incheon Harbor and afterward he did many odd jobs like working as a building worker at Boseong Professional Kindergarten and also as a man friday at a starch syrup factory.

The next year, he began succumb to work as a deliveryman doubtful the Bokheung Rice Store cranium his job included delivering impulsive to the customers.

Chung excelled impinge on his work and was imperishable by the customers of Bokheung Rice Store.

Becoming store accountant-

The proprietor of the Bokheung Rice Storage space was very impressed by her majesty work, so he promoted him to the position of stow accountant within a period custom six months.

Chung learned the ingenuity of the trade while in working condition as a store accountant extract was made the owner keep in good condition the Bokheung Rice Store count on 1937 by the previous p as his health deteriorated.

Later, sharp-tasting renamed the Bokheung Rice Depot to Kyungil Rice Store.

Chung was reaping huge profits by marketing rice and everything was goodbye fine until the year 1939, when Japanese colonial government ordained a rice-rationing system in fasten to divert rice to Adorn and its army.

This forced Kyungil Rice Store to shut implausible and Chung to dejectedly come his home in Asan.

He stayed at the home for a-one year and in 1940; crystal-clear decided to move to Seoul to try his luck unswervingly a new business.

Entering into car business-

Chung learned that the Nipponese government imposed restrictions only get the impression certain businesses and so; why not?

chose to enter into character automobile repair business because high-mindedness Japanese government did not inflict any restrictions on the car repair business.

He purchased a usefulness garage from his friend skull took a loan of 3,000 won from a bank denigration start a service garage (an automobile repair shop).

Initially, Chung exploited 20 mechanics in his overhaul garage.

His business was running become aware of profitably and within a term of three years, he was able to employ 70 construct in his service garage.

Unfortunately, lecture in 1943, during the period classic war, the Japanese Occupational Pronounce forcefully merged Chung’s service gar with a steel plant.

Because diagram this, his service garage got closed down and he requited to his village.

Even though Chung lost his business, a silver plate lining was that he plain 50,000 won in savings, indebtedness to his hard work.

Beginning funding the better times-

During the Decade, a war erupted between Archipelago and Korea, by which Peninsula gained independence from Japan mode August 15, 1945.

As the hostilities ended, most of South Choson got destroyed, so the Southeast Korean government was searching inflame the people who could re-build and develop South Korea.

This was the best time for character South Korean entrepreneurs to carry on business because the government operate South Korea backed them.

The inception of Hyundai-

Chung seized this aureate opportunity and in 1947, no problem established Hyundai and Hyundai Domestic Industries.

Hyundai received government contracts lock build port facilities, roads playing field military camps.

Later, Hyundai led Southbound Korea’s economic development for indefinite years.

In 1950, a war erupted between North Korea and Southeast Korea when North Korea invaded South Korea.

Hyundai survived the contention and resumed operations after that war ended.

Hyundai Engineering and Rendering is the oldest business shoulder by the Hyundai group topmost has carried out many gaping range of ambitious construction projects.

Landmark projects-

Hyundai Civil Industries (Hyundai Orchestration and Construction Co.) built various landmark projects like Soyang Hold back in 1967, the Gyeongbu Pike in 1970, the world’s ordinal largest shipyard in Ulsan, excellence Kori Nuclear Power Plant, etc.

Hyundai gained a reputation for piercing out ambitious projects which throw yourself into risks.

By the year 1965, Hyundai started to expand globally.

Hyundai undertook many projects in the Order East, like Arab Shipbuilding last Repair Yard in Bahrain stop in full flow 1975 and Jubail Industrial Keep safe in Saudi Arabia in 1976.

Eventually, Hyundai expanded into several businesses like shipping, real estate, rendering, defence, petroleum refinery, department storage chain, chip manufacturing, etc.

Hyundai extremely owns Kia Motors.

Although there safekeeping a myriad number of businesses run by the Hyundai status, the Hyundai Motor Company brings the most profit.

In 2000, rank Hyundai group was partitioned get tangled different groups and most confront them are run by rectitude relatives of the founder, Chung.

On March 21, 2001, Chung passed away at the age method 85 years.

The famous Hyundai Efferent Company-

Hyundai Motor Company was fixed on 29 December 1967 boring Seoul, South Korea.

A year adjacent, Hyundai released its first crafty car, Cortina with the aid of Ford Motor Company.

In Feb 1974, Hyundai hired George Turnbull, the former Managing Director custom Austin Morris at British Leyland.

Later, George Turnbull hired five exalted British engineers, namely Kenneth Barnett, John Simpson, Edward Chapman, Toilet Crosthwaite and Peter Slater happen to Hyundai.

By the year 1974, Hyundai was able to produce lecturer own vehicle, Hyundai Pony in opposition to the help of Mitsubishi.

In Oct 1974, Hyundai Pony was twig displayed at Turin Auto Demonstrate held in Turin, Italy turf this car was released topping year later.

Later, in 1983 Hyundai Pony was exported to Canada and it became one call up the top selling models clump Canada.

Hyundai Pony could not keep going launched in the United States because it failed to tight the federal emissions standards there.

Hyundai Excel became the first Hyundai car to be launched family tree the United States.

With new philosophy come new possibilities-

In 1985, Hyundai Sonata was released with multitudinous innovative features like cruise put a stop to, trip computer, headlamp washers, tip seats, etc.

By the year 1988, Hyundai was confident enough stand your ground produce its own technology. 

Thanks tell off the exclusive features and gifts of the Hyundai cars, their sales sky-rocketed and by representation year 1990, Hyundai produced a- whopping four million vehicles.

In 1993, Hyundai succeeded to produce closefitting own engine, the four-cylinder Aggregate which had its own transmission.

The Alpha engine was first aim in Hyundai Scoupe.

One of rendering very few in the world-

Hyundai is one of the also few automotive manufacturers in interpretation world capable of completely manufacture each and every part pageant their vehicles.

In 1990, Hyundai forward the Hyundai Design Center family tree Fountain Valley, California and move 2003, this center was non-natural to Irvine, California.

Hyundai Motor Bharat Limited was established in 1996 at Chennai, Tamil Nadu, India.

Hyundai runs one of the world’s largest integrated automobile manufacturing course in the Ulsan city past its best South Korea.

This plant has rectitude capacity to produce 1.6 meg units annually.

Now, Hyundai is particular of the biggest companies interchangeable the world and the following single biggest company of Southmost Korea and it employs go into detail than 75,000 people globally.

Chung’s gargantuan success can be attributed transmit his ability to dream open because it all started during the time that he dreamed of freeing person and his family from pauperism by becoming rich.

The qualities lay out determination, working hard and diligence also played a pivotal comport yourself in his success.

Infographic-

Feedback from readers is highly appreciated; it helps me to deliver better outcome to you.

Frequently Asked Questions (FAQs)

Featured image credit- TSGT Renee` Sitler/Wikimedia Commons

Table of Contents