Hyundai Car Owner's Story "Chung Ju-yung"

Chung Ju-yung

Chung Ju-Yung (November 25 1915-21 March 2001) is always associated with the Hyundai group. As a pioneer in the globalization of Korea, he played an important role in the history of modern Korea.
Chung Ju-Yung was born as the son of farmers from 8 siblings, 6 men and 2 women in Asan-ri, Songjon-Myun, Kangwon-do, the mountains in northern Korea. At that time, Korea was under Japanese Imperial rule since 1910.
As the oldest child, he worked hard and responsibly with her younger siblings. His own father educate Ju-Yung as a farmer from the small. He himself graduated from elementary school Songjon in 1931. While he has a hobby of reading the school newspaper at the village office with the daily newspaper Dong as the only one who can be found in place. Through the newspaper's Ju-yung to get a job in construction in a large port Chungji, the town near the former Soviet Union territory.
Chung Ju-Yung eventually left his family, along with his friend he went to Chungji to find a job. In the city of Wonsan, he hopes his friend there to provide jobs. But unfortunately he did not get a job even had to sleep in the open Ruan. On his way to Chungjin, he found work as laborers in railroad construction. But he called home by his father. Then he tried to run away from home to find a job but his father got him returned home. Ju-Yung finally read the ad to get education in a school of accounting. He was interested and decided to run away from home a third time by taking his father's money by 70 won and went to the station Chunglyanglee, on April 10, 1932. He used the money for school supplies. He was very hard and diligently to learn while also hobby to read library books and read famous books such as biographies of Napoleon Bonaparte (Life of Napoleon), biography of Abraham Lincoln and the Story of the Three Kingdoms (The Three Kingdoms), and others . Chung Ju-Yung arguing with his father when his father managed to meet him at the cottage. He said: "I do not want to go back hoe, farm chores, I do not want to wander in the countryside". Because the more severe conditions in the countryside, he and his friends run away from home, but separated again in Seoul. Chung himself to continue his journey to Inchon to find work and work into anything. He worked as construction laborers. Not at home, he complained fate to Seoul. There he got a job at Firm Bokheung store and worked as a sender of goods to consumers with a monthly salary. At that time, 1934 Chung himself is still younger than 20 years.
Chung's career turned out pretty well there, he then be trusted by its leaders. Of his salary he collected, then Chung buy some property for his family in Tongchon. And not long after that, Chung Ju-Yung married with Byun Joong-seok, a girl from the same village.
Shortly after the family, Chung returned to Seoul and rented a house in Shintangdong disitudia klontongnya also opened a store called Kyongil Firm. By managing your own business, he learned about business management. As a result, its economic life is quite good.
In 1937, Japan launched a military aggression into China. So for military purposes all materials needed and store of choice for closed Chung. This is very pressing and ultimately made him bankrupt Chung, denan so he ended up staying in the village with his family for a while. On February 1, 1940 he opened a car repair shop called "A Service do." He bought the land for 5000 won both the savings and loans from customers. But the new five-day opening, his shop was burned. Do not know surrender, Chung 3000 won from consumers to borrow again and runs A Service do it in a new place with 50 workers. But he often got into trouble with the Japanese police. To avoid problems, it draws the hearts of the police and its back running smoothly.
Workshop also adopted a new strategy that menerapkn work efficiency and promptness so as to handle the job more quickly than rivals. This strategy was later applied to become Hyundai's secret code and also become the foundation in developing the future of Hyundai Motor Company.
In late 1941, Japan started the Pacific war (War of Greater East Asia or the Dai Toa senso) in World War II. Here Japan to deploy and mobilize all resources of Korea. Many Korean companies have gone bankrupt, including Chung Ju-Yung companies are forced to merge with Japanese companies. This is an ordeal for Chung.
On September 15, 1950, soldiers United States (U.S.) landed at Inchon and headed north and was involved in the Korean War. U.S. soldiers much-needed construction work in construction. Chung Ju-Yung involve themselves in it and is assisted by a U.S. lieutenant named McAllister. But one day, Ju-Yung worked on bridge projects Golyong (Golyong Bridge) over the Nakdong River that began in October 1953 and completed in May 1955 with a budget of 50 million won but he suffered a loss of 70 million Won. Very high deficit was almost made bankrupt Hyundai. Here he did not give up, he said "This is not a defeat but a new trial." Here it is time to establish a better corporate reputation as one of its strategies. Hyundai win it even needed 20 years to pay its debts.
In December of 1966. two years prior to starting the project highway-Pusa Seoul, Hyundai Motor Company was born in Seoul. Before that, the cars imported from Japan and Korea at that time, very small car demand in the market about 30 thousand pertahu. And really not possible to establish a car industry in Korea. But Ju-Yung insist to make the car industry there. Have capital to establish a car repair shop experience and belief that "the prosperity of a country run along with the mobility and flexibility which the history of human development on the mobility of horsemen to use the car, proves this." So then transformed into a Hyundai car manufacturers with an output of one million units per year which put him as the strongest car manufacturer in the world. Had Chung Ju-Yung was not taking the initiative, the Automotive Industry in Korea would just stay dreams.
Then, Hyundai and Ford to establish a contract in assembly technology within two years in which Ford invested at 79%, while Hyundai's 21%. After 2 years of completion of this agreement, Hyundai offered it with the amount of 50:50. Because Ford does not plan to continue business in Korea, the negotiations ended in the middle of the road. Chng finally decided to continue the assembly of the car itself in the name of Korea. He then entrusted it to his younger brother Hyundai Motors Chung Se-Yung and belatar to Italy to advance automotive technology. Hyundai's first model that came out of the assembly line is a Hyundai Pony in January 1976 which became the first car out of the Korean manufacturer. Its production coincided with the improving economic conditions of Korea and started the completion of the project roads. Local production of these later became very successful. Chung finally stop cooperation with Ford and running his own car company.
Based from the Hyundai Pony, Hyundai and then proceed denan next generation cars. Born later models like the Hyundai Excel which is very successful in the U.S. market. American clients are very surprised by the imagination of the maker. They do not know if the car maker was originally just a poor boy from the mountains of Korea.
Hyundai group eventually evolved into a company that is not only based on the car. There are also electronics companies, heavy industries, Miscellaneous, Construction and Finance & Services. He died in March 2001 at the age of 86.