효성그룹 창업자 만우 조홍제 선생의 경영이념과 기업가 정신

A Study on Management Philosophy and Entrepreneurship in Cho, Hong Jai, Chairman of Hyosung Group

Hong Jai Cho, who was born in a family which worshiped confucianism, graduating university at the age of 30, beginning business at the age of 40, established his own business at the age of 56. He founded Samsungm Corporation(Samsungmulsan) in partnership with Byung Chull Lee, and developed CJ:Cheiljaedang and Cheil Industries Inc(Cheil-mojik) to companies which produced import substitution products in the 1950s, contributing to have Samsung become the top Chaebul in Korea. He overtook Chosun-jebun , an insolvent company, Daejeon-pihyuk , and Hankooktire after leaving Samsung at his age of 56. He developed Chosun-jebun to the second top flour mill company, Daejeon-pihyuk , a footwear factory, to a general leather company, and Hankooktire to the top company in the exportation of tire. He truly was a man who had Midas hands. His entrepreneurship was at peak at his age of 60 when he founded Tongyang Nylon Company , producing nylon fiber for clothes and industrial fiber which were import substitution products, became the major export company under the leadership of Cho. Especially, PET tire cords which were produced in a systematic way take the top market share in the world both in production and sales. Two companies he founded were listed in the 500 world largest companies (excluding US companies). He took long time to make a decision, however, executed very quickly, once making a decision. He made his companies contribute to society by practicing quality-priority, technological independency, and security of competitiveness, emphasizing integrity, endeavor, and responsibility according to his management philosophy of humanism and righteous profit seeking. He was an entrepreneurial entrepreneur who set up a foundation for Hyosung to meet the appraisal standard in economical, legal, ethical and charitable side and to keep sustainable management. S. R. Cho, who succeeds the management Philosophy of Hong Jai Cho, developing Hyosung to a global group with global renovation and global management, elevates Hyosung on the top in the market share of tire cord and on the second place in the market share of spandex in the global market.