전후 한국경제성장을 이끌어온 현대그룹의 창업자 정주영 회장 연구

A Study on Ju-Young Chung and Hyundai Group regarding Contribution to the Economic Development of Postwar Korea

The current study aims to examine Hyundai Group, the former president Ju-Young Chung s life, management principle and enterpriser s spirit and the management strategy of Hyundai Group, which have lead the economic development of postwar Korea. Ju-Young Chung, a representative self-made enterpriser, founded Hyundai Group and contributed to the economic development of postwar Korea. He was born as the eldest son among seven brothers and sisters at a poor farming house in Asan-ri, Tongcheon-gun, Gangwon-do in November 1915. His childhood was so poor that he left home four times after graduating from elementary school and earned money while working as longshoreman, construction worker, delivery man of a rice store, etc. Then, at the age of 23, he earned a lot of money with confidence and trust after taking over Bokheung Mart, the rice store where he worked, and founding Ado Service, a car repair factory, in 1940. He began to expand his business through establishing Hyundai Motors Industrial in April 1946 and Hyundai Construction Co., Ltd. in January 1950. The former president Ju-Young Chung made Hyundai Construction Co., Ltd. the top ranking subcontractor in the nation by monopolizing constructions of the U.S. forces and receiving orders related postwar restoration constructions. At the age of 40 in 1965, he found the overseas construction market for the first time in the nation with management philosophy of challenge and the pioneer spirit, and management principles of honesty and confidence first. He also completed constructing highway in Korea with the shortest construction period among the history of world s highway. In 1975, at the age of 50, he established Hyundai Dockyard Co., Ltd. and succeeded in producing Pony , the Korea s first car. In 1970s, he formed a conglomerate and was inaugurated as the president, and in 1977 when he was 62 years old, he was inaugurated as the president of the Federation of Korean Industries, the leader of Korean economy. When he was young, he was so poor that he left home four times and worked as a physical laborer though, eventually he became the president of the Federation of Korean Industries, the highest position of Korean economy. In 1997 at the age of 82, his Hyundai Group occupied 18% of Korea s current GNP by reaching approximately 70 trillion won of sales. Also Hyundai Group exported 12% of Korea s total export amount as USD 20 billion and sold 1,250,000 cars while occupying 48.2% of domestic market share and 2.6% of overseas market share. Besides, he greatly contributed the development of Korea s heavy industry by promoting overseas construction, shipbuilding, semi-conductor, reefer container, etc. as the world class industry. Particularly in 1990, he organized Unification People Party during his latter years and announced that he would run for the presidency by transforming himself to a politician. He was the enterpriser in the late 20 century who gained property and honor at the same time since he acquired 12 honorary doctorial degrees in economics, business administration and engineering from universities both at home and abroad including Yonsei University. He overcame hardships and difficulties of a century of challenge and creation with indomitable pioneer spirit, creative effort and progressive nature. In addition, he had management principles such as enterprise-based patriotism, a theory of private initiative economy, patience and belief, responsibility and credit first idea, customer satisfaction, industrial pacifism, etc. As he pointed out, although he had worse condition in terms of education, knowledge, health, appearance, speech and money compared with others, he made Hyundai a conglomerate with spirits of foundation including (1) creative prediction, (2) active will and (3) strong driving power, and management strategies by times, and was evaluated as a enterpriser who greatly contributed to the development of postwar Korean economy.