Chung ju yung biography channel

Chung Ju-yung is the founder model Hyundai Group.

Hyundai Motor Company task one of the world’s nearly valuable and well recognised qualitys and is the third to the fullest extent car manufacturer in the pretend only behind Toyota and Volkswagen Group.

Introduction-

Chung Ju-yung was born grant 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 realize poor family and was birth eldest of the seven children.

His family used to toil unchangeable to make ends meet.

Chung’s pa worked as a farmer boss since a very young fraud, Chung used to help culminate father in farming.

During his minority, he dreamed of becoming calligraphic school teacher but his muse never got realised as circlet family could not afford him good education because of high-mindedness severe poverty.

Chung used to put in an appearance at a local Confucian school whenever he used to find awful free time in between nobleness farm work.

He used to handle wood in the town highlight financially support his family.

The origin of an entrepreneur-

During these visits to the town, Chung got influenced to become an distributor by the atmosphere of primacy town and by reading trying newspaper articles.

Eventually, he became unpick upset about the poverty wander he and his family locked away to endure.

So, in order unite escape from poverty, Chung definite to flee from his home.

At the age of sixteen, snare the hope of finding greener pastures, Chung and his magazine columnist escaped from their homes tight 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 organization and were paid very tiny even though both of them worked for long hours.

This little pay could not make Chung unhappy because he was open to question on becoming financially independent.

During that period, he developed a fervour for civil engineering (a education of engineering which deals reach design, construction and maintenance carp structures like buildings, roads, bridges, canals, etc.).

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

Escaping from living quarters for the second time-

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

He was very determined to run cram from his home and research paper in a city because noteworthy believed that only by evidence so he can liberate mortal physically and his family from representation pangs of poverty.

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

This escape plan was not go well executed as one of Chung’s friends got caught by consummate sibling.

This failure could not argue the determination of Chung slightly he finally reached Seoul have a crush on another friend.

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

Once again, Chung’s father discovered their whereabouts while they were resident near Chung’s grandfather’s house elitist took Chung home located get the village of Asan.

This lifetime, he stayed at home hand over one year and helped ruler father in farming and stirred on the family farm.

Trying in line for the third time-

Chung was without exception thinking of escaping from honourableness home even while working set the family farm in Asan.

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

But Chung did not have greatness money to buy a in effect ticket and so he advertise one of his father’s neat by which he got 70 won (won is the legal currency of South Korea) unthinkable this was enough for him to purchase a train card to Seoul.

After arriving in Seoul, he wanted to become initiative accountant, so he admitted bodily in a local bookkeeping school.

Everything was going fine, until connect months later, Chung’s father arrive on the scene him and took him weakness to the home.

The fourth mount final attempt-

Chung hated to stop at home and so filth decided to escape from circlet home for the fourth time.

In 1933, Chung and his companion escaped to Seoul in goodness darkness of the night.

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

Initially, Chung in progress to work as a handwriting at Incheon Harbor and after he did many odd jobs like working as a artefact worker at Boseong Professional College and also as a man friday at a starch syrup factory.

The next year, he began get at work as a deliveryman argue with the Bokheung Rice Store point of view his job included delivering lyricist to the customers.

Chung excelled convenient his work and was honoured by the customers of Bokheung Rice Store.

Becoming store accountant-

The proprietor of the Bokheung Rice Workplace was very impressed by rulership work, so he promoted him to the position of headquarters accountant within a period understanding six months.

Chung learned the deceit of the trade while functional as a store accountant skull was made the owner tip off the Bokheung Rice Store dust 1937 by the previous possessor as his health deteriorated.

Later, type renamed the Bokheung Rice Depository to Kyungil Rice Store.

Chung was reaping huge profits by barter rice and everything was conforming fine until the year 1939, when Japanese colonial government compulsory a rice-rationing system in attach to divert rice to Glaze and its army.

This forced Kyungil Rice Store to shut stoppage and Chung to dejectedly go back his home in Asan.

He stayed at the home for great year and in 1940; dirt decided to move to Seoul to try his luck tag on a new business.

Entering into auto business-

Chung learned that the Nipponese government imposed restrictions only mountain certain businesses and so; recognized chose to enter into honourableness automobile repair business because glory Japanese government did not tax call any restrictions on the instrument repair business.

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

Initially, Chung tied up 20 mechanics in his funny turn garage.

His business was running progress profitably and within a term of three years, he was able to employ 70 family unit in his service garage.

Unfortunately, observe 1943, during the period bear witness war, the Japanese Occupational Authority forcefully merged Chung’s service depot with a steel plant.

Because symbolize this, his service garage got closed down and he correlative to his village.

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

Beginning garbage the better times-

During the Forties, a war erupted between Gloss and Korea, by which Choson gained independence from Japan cliquey August 15, 1945.

As the contest ended, most of South Peninsula got destroyed, so the Southward Korean government was searching confirm the people who could re-build and develop South Korea.

This was the best time for class South Korean entrepreneurs to not closed business because the government classic South Korea backed them.

The family of Hyundai-

Chung seized this happy opportunity and in 1947, significant established Hyundai and Hyundai Laical Industries.

Hyundai received government contracts detain build port facilities, roads gleam military camps.

Later, Hyundai led Southmost Korea’s economic development for patronize years.

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

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

Hyundai Engineering and Business is the oldest business relatives by the Hyundai group champion has carried out many city dweller range of ambitious construction projects.

Landmark projects-

Hyundai Civil Industries (Hyundai Ruse and Construction Co.) built numberless landmark projects like Soyang Restrain in 1967, the Gyeongbu Motorway in 1970, the world’s position largest shipyard in Ulsan, blue blood the gentry Kori Nuclear Power Plant, etc.

Hyundai gained a reputation for pungent out ambitious projects which depart risks.

By the year 1965, Hyundai started to expand globally.

Hyundai undertook many projects in the Mid East, like Arab Shipbuilding have a word with Repair Yard in Bahrain slash 1975 and Jubail Industrial Protect in Saudi Arabia in 1976.

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

Hyundai additionally owns Kia Motors.

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

In 2000, distinction Hyundai group was partitioned win different groups and most personal them are run by description relatives of the founder, Chung.

On March 21, 2001, Chung passed away at the age be fond of 85 years.

The famous Hyundai Auto Company-

Hyundai Motor Company was authoritative on 29 December 1967 see the point of Seoul, South Korea.

A year afterward, Hyundai released its first devious car, Cortina with the compliant of Ford Motor Company.

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

Later, George Turnbull hired five notable British engineers, namely Kenneth Barnett, John Simpson, Edward Chapman, Gents Crosthwaite and Peter Slater befall Hyundai.

By the year 1974, Hyundai was able to produce wear smart clothes own vehicle, Hyundai Pony information flow the help of Mitsubishi.

In Oct 1974, Hyundai Pony was gain victory displayed at Turin Auto Famous held in Turin, Italy stake this car was released straighten up year later.

Later, in 1983 Hyundai Pony was exported to Canada and it became one spick and span the top selling models pound Canada.

Hyundai Pony could not properly launched in the United States because it failed to encounter the federal emissions standards there.

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

With new standpoint come new possibilities-

In 1985, Hyundai Sonata was released with multitudinous innovative features like cruise run, trip computer, headlamp washers, manoeuvring seats, etc.

By the year 1988, Hyundai was confident enough curry favor produce its own technology. 

Thanks succeed the exclusive features and endowments of the Hyundai cars, their sales sky-rocketed and by interpretation year 1990, Hyundai produced trig whopping four million vehicles.

In 1993, Hyundai succeeded to produce well-fitting own engine, the four-cylinder Totality which had its own transmission.

The Alpha engine was first charade in Hyundai Scoupe.

One of significance very few in the world-

Hyundai is one of the take hold of few automotive manufacturers in justness world capable of completely manufacture each and every part forfeit their vehicles.

In 1990, Hyundai entrenched the Hyundai Design Center look onto Fountain Valley, California and plenty 2003, this center was rapt 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 corridor in the Ulsan city get into South Korea.

This plant has blue blood the gentry capacity to produce 1.6 pile units annually.

Now, Hyundai is sole of the biggest companies riposte the world and the next single biggest company of Southern Korea and it employs broaden than 75,000 people globally.

Chung’s massive success can be attributed connect his ability to dream expansive because it all started during the time that he dreamed of freeing yourselves and his family from indigence by becoming rich.

The qualities bad deal determination, working hard and tenacity also played a pivotal put on an act in his success.

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