Made in Korea: Chung Ju Yung and the Rise of Hyundai

by Richard M. Steers

American business folklore is awash with the adventures of successful entrepreneurs. Still, most of these stories are about Americans, neglecting important and courageous entrepreneurs from other countries. Made in Korea recounts the story of how Chung Ju Yung rose from poverty to build one of the world's largest and most successful building empires - Hyundai - through a combination of creative thinking, tenacity, timing, political skills, and a business strategy that few competitors ever understood. Chung entered the shipbuilding business with no experience and went on to create the world's largest shipyard. He began making automobiles when foreign experts unanimously predicted he would fail, and he started a global construction company that has built some of today's greatest architectural wonders. He even convinced the International Olympic Committee to select South Korea over Japan as the site for the highly successful 1988 Olympics. Unlike most CEO's of major firms, Chung has always preferred the company of his workers to that of the global executive elite. Hard work, creativity and a capacity to never give up - this is the essence of Chung's life. In each of his ventures, he exhibited a sheer determination to succeed, regardless of the obstacles, and he worked tirelessly to instil this drive in all of his employees. Even today, in the midst of Korea's worst economic crisis in over four decades, Chung's company is busy implementing plans to emerge as an even stronger contender in the world economy. Illustrated with 32 pages of colour photographs not previously seen in the West, including photos of Chung's recent historic visit to North Korea in 1998, Made in Korea takes stock of Chung's entire life, highlighting both his contributions to society and the lessons his work can teach to aspiring entrepreneurs.

Genres: Biography, Business, Nonfiction

284 pages, Hardcover

First published January 1, 1998

Reviews

[Ramakrishna Potluri · Rating 4 out of 5]

Here is a leader who thinks nothing is impossible and drives his team to achieve seemingly impossible stuff. Hyundai might have benefited from Korean Govt in many ways during the initial days by tagging itself as the flagbearer of Korean revival as the Asian Tiger.

[Ocean G · Rating 4 out of 5]

This reads a bit more like a hagiography than an actual biography. The author seems to be very quick to praise, but tends to find fault elsewhere when issues arise.

This actually didn't detract much from the book. Chung is an extraordinary person no matter how you look at it, and it was enlightening to read about his approach to pretty much anything (passion and persistence, as he puts it, pretty much exactly like Angela Duckworth)

Also incredible to read how he not only founded and built up Hyundai from nothing, but also built up Korea's highway system, basically made the 1988 Olympics in Seoul possible, orchestrated the first visits to North Korea, and plenty more.

The book is a bit out of date at this point, and it would be interesting to see how the company did post Chung Ju Yung. However, all in all a good book about a very inspiring person.

[Bella · Rating 4 out of 5]

Một quyển sách thực thú vị về con người của Chung Ju Yung được tái hiện qua quá trình ông gầy dựng nên Huynh dai, một trong những tập đoàn hùng mạnh nhất thế giới. Với phương châm “Không bao giờ là thất bại, tất cả chỉ là thử thách” vị chủ tịch đa tài này có thể biến tất cả mọi thứ không thể thành có thể, bỏ qua ngoài tai mọi lời nói của người khác, ông vẫn luôn trung thành với quyết định của mình. Chính nhờ sự quyết tâm mạnh mẽ cùng ý chí kiên cường, mà một người “hà khắc” như ông vẫn luôn nhận được sự tôn trọng của tất cả mọi người, bởi những đóng góp không hề nhỏ bé của công cho sự phát triển một Hàn Quốc giàu mạnh như hôm nay.

[Daniel · Rating 5 out of 5]

I bought this book because I have a 2012 Hyundai Genesis. I love the car and am interested in the story that precedes it. While that pursuit will involve more research and include modern text, this was a phenomenal book. I appreciate the education on the chaebol's other businesses in addition to the Hyundai Motor Company. This book gives me great respect for the Korean work ethic!

[JV Rajendran · Rating 4 out of 5]

The book starts with great anecdotes of Chung's life. After this great promise, it runs into summarizing the achievements of the company, while, in my opinion, missing out on the details of Chung's action during these times. I think my rating is more influenced by the chronicles of Chung rather than the book.

[Wilson abunga Chan · Rating 5 out of 5]

Chung Ju Yung’s story reminded me of my great-grandfather who left Suzhou with his brother and, through sheer determination and hard work, he built several businesses from scratch. This book captures the true spirit of entrepreneurship: daring to dream big, working relentlessly, and never giving up. A powerful read for anyone who comes from a legacy of builders and pioneers.

[Long Dinh · Rating 4 out of 5]

This book is not only an autobio about Chung but also a thorough summary of Korea's economy for the last 40 years. Due to a combination of hard work, strong commitment and unyielded will, Chung has grown Huyndai to be one of the largest multinational corporation in the world. A truly remarkable work. The development of Huyndai reflects the astoudinh achievement of Korea, now a tiger of Asia, Chung's life symbolize the entrepreneur spirit of a nation. I would just hope this book can describe Chung's personal life more, especially at the later end of his career. Nevetheless, well worth my time to spend reading it :)

[Paul Mamani · Rating 4 out of 5]

A great bio about the man who built of Hyunday.
From humble beginnings he started his company.

Hard working and creative, looking for better products to sell.
He diversified the company transforming into on of SK´s big blue ships or chenols.

Very impresive his reflections on business with nacional conscious....finally creating thousands of jobs and contributing to the industrialization or SK.

In contrast the Peruvian "big blue ships" just apply the principle of hidden hand....they want to make money without any national conscious....the result a few super rich elite and 60% of pevert in an country rich in commudities like Peru.