Top5 Secrets Of Hyundai Founder That Expose His Life’s Struggle

The Hyundai founder sold rice, worked as a labourer and sometimes did farming. He ran away from home four times and got nothing but betrayal. But despite this, he manufactured his own car. In the beginning, its price and quality were so low that the world made fun of it and forced it to flop. It was as if he had got used to climbing up and falling back to the ground several times and this habit made him so strong that finally this boy became the founder of the world’s third largest car manufacturing company Hyundai.

5) Struggle

Chung Ju-Yung was born in 1915 in a village named Tongchon in Korea. This village is present in North Korea today. At that time, the whole of Korea used to be one country. Which was ruled by Japan. Chung Ju-Yung was the eldest of his seven siblings and due to poverty, the whole family used to work in the fields. At the age of just 14, Chung Ju-Yung had to leave school due to poverty and started working in the fields with his parents. He would work in the fields all day but could only earn so much that despite working, he had to sleep hungry many days.

This situation forced him to think whether he would spend his whole life in this condition. He was fed up with his life and ultimately he ran away from home and went to Kowon, 100 km away. There he started working as a labourer with construction workers. He worked very hard but earned less money. But even in this situation he was very happy. Because firstly the money he was earning was spent by him alone and secondly he was now free. But this freedom could last only for two months. His parents who were searching for him, reached Kowon and found him and took him back to the village.

The happiness that had come to Chung Ju-Yung’s life for the first time was snatched away and he was sent to work in the fields again. But in reality he had tasted the joys of city life. He did not want to live in the village or in the fields again under any circumstances. After that he tried to run away twice again. But he was caught and came back to the village and started working. There was a year when the crop was very less and there was a shortage of food in the entire village. The situation reached such a point that people had to remain hungry for many days.

Chung Ju-Yung thought that now it was enough. He would not stay here under any circumstances. Now he started planning to run away from home for the fourth time and this time it was his last attempt. This time he ran away and reached Seoul which is the capital of today’s South Korea. It was as if he had made it his life’s purpose to leave the village and settle in the city. No matter what work he had to do.

After coming to Seoul, he did not leave any work. He worked as a labourer in construction work, a factory worker and even did cleaning work. He had one quality that whatever work he did, he did it with a lot of hard work.

After some time, he got a job as a rice delivery boy at a rice shop. He started delivering rice to people’s homes on a bicycle. Due to this, the shop’s sales increased a lot and the shop owner was happy and made Chung Ju-Yung the shop’s manager. This was his first job in which he did not have to do any kind of labour and within no time, he increased the shop’s sales to a great extent. Meanwhile, the shop owner fell ill and was not able to run the shop. So he sold his shop to Chung Ju-Yung for a small amount.

A boy who ran away from home four times to work in the fields became the owner of his own shop at the age of just 22. He worked very hard at his shop and in a short time, his rice shop was considered the best shop in the area. He was very happy. But during that time an incident happened and his little happiness was about to turn into sorrow.

4) Problems

On 7th July 1937, a Japanese soldier disappeared somewhere near Marco Polo Bridge and to find him, Japanese soldiers asked for permission to search for him in China. But when China refused to give them permission, a clash started between the two. Which is known in history as the Second Sino-Japanese War. This war on a small issue continued for the next 8 years and due to this there was a severe shortage of rice in Japan and Korea.

Now because Korea was also occupied by the Japanese Imperial Army at that time. Due to this, the Japanese government took over the rice shops in the whole of Japan and Korea. So that the shortage could be met. Chung Ju-Yung’s rice store was also included in these stores and now he became unemployed once again. His two years of hard work, his savings, everything was gone. But Chung Ju-Yung did not give up. He now started looking for a job that could not be captured by the Japanese Army. He shortlisted many ideas and finally decided to open a car repair shop.

Now the problem was that Chung Ju Yung did not have even a little money to start this work. He took a loan of 3000 rupees and started a new business by the name of Ado Service Garage. But exactly the opposite of what he had thought happened. It is said that trouble does not ask before coming. Chung Ju Yung’s new garage suddenly caught fire and all the vehicles parked in it also burned. The responsibility of all the losses fell on Chung Ju Yung. This time Chung Ju Yung was in big trouble. He had to pay both the loan of 3000 rupees and the loss of customers. But he did not lose courage.

Once again he took a loan of 3500 rupees. He opened the garage again and slowly managed to cover all the losses. Now he focused on the growth of his business. For the next 2 years, Chung Ju Yung kept progressing a lot. He started giving jobs to people in his garage. 70 to 80 people started working for him. He had progressed so much that he called his entire family from the village and settled them in Seoul. But once again a test was looming over him.

At that time World War 2 was going on and Japan was also a part of this war. Japan needed workshops to make war equipment and that is why the Japanese government started taking control of the workshops. Once again the Japanese government took control of Chung Ju Yung’s garage. But this time Chung Ju Yung was not ruined. Because he learned a lesson from the loss he suffered last time and had saved 50000 rupees so that he could start another business.

After some time World War 2 ended and with it Japan’s rule over Korea too. The biggest obstacle in Chung Ju Yung’s path was removed. Korea was now divided into two parts. North Korea and South Korea. As soon as the situation became normal, Chung Ju Yung came back to Seoul in 1946 and started a car repair business again. With a new identity and a new name. This time he named the business Hyundai Auto Service. This is a word in Korean language which means modern.

Now Seoul was a part of South Korea. Which was influenced by America. American forces were often present in South Korea and Chung Ju Yung saw that the American Army had to construct buildings for the residence of American forces. He thought that if a construction business is started then a lot of progress can be made. That is why in 1947 he formed a construction company named Hyundai Civil Works. The construction company initially got the work of constructing small houses and roads. Which is enough for any new business.

Chung Ju Yung wanted to get big projects. But the circumstances once again put a brake on his thinking. On 25th June 1950, North Korea attacked South Korea with the support of Soviet Union. Seoul was close to the border of North Korea, so Chung Ju Yung felt threatened and fled from Seoul to Busan.

3) Construction Success

This time too, Chung Ju Yung did not lose courage. He assessed the situation and started thinking of a scheme to earn profit from the war situation. He saw that the US Army had come to help South Korea and tents, warehouses and some buildings were needed for the army’s accommodation. Chung Ju Yung started the construction business again and offered to the American officials that if the budget was right, he could provide any kind of construction service.

Because America was a super power and budget was never an issue for them. American officials started giving orders to Chung Ju Yung’s company. Chung Ju Yung and his team worked hard day and night and completed every project. The advantage of this was that the war ended. But a good working relationship had been formed between the Americans and Chung Ju Yung. Because Chung Ju Yung was close to America. That is why a good relationship was also formed between Chung Ju Yung and the South Korean government. Due to good relations, he used to get the contracts first.

Many roads and bridges were destroyed in the war. The South Korean government gave the projects for their reconstruction to Chung Ju Yung’s company Hyundai. Chung Ju Yung’s company had progressed so much that mega projects like dams were also built by this company. South Korea’s largest dam Soyang Dam was also constructed by Hyundai. The biggest Gyeongbu Expressway there was also the achievement of this company.

2) Motors Success

The construction company was established. But Chung Ju yung wanted to get back into his car business. This time he thought of doing something more than car repairing. In 1967 he started Hyundai Motors Company. Very soon Hyundai entered into a partnership with Ford Company. Ford’s Cortina car was famous in the market at that time. That’s why Hyundai made an agreement that they would assemble the Cortina car using Ford’s technology and sell it in South Korea as Hyundai’s version. This agreement was successful and Hyundai also progressed a lot from it.

South Korea’s car market was very small. According to an estimate, there was a market of only 30000 cars and the chances of growth in it were also very low. That’s why Hyundai wanted to export cars internationally. But Hyundai had a disagreement with Ford. Ford said that our agreement was only for the South Korean market. Therefore Hyundai cannot export cars. Now the partnership between Ford and Hyundai broke. After this deal broke, Chung Ju yung started looking for a new partner and soon he signed an agreement with Mitsubishi Motors.

Mitsubishi was now ready to give car production technology to Hyundai. After this deal, Hyundai launched its first car which was named Hyundai Pony. The price of this car was very low due to which this car became famous in the market. This car made Hyundai the largest car manufacturing company in South Korea. But as we told earlier that at that time the car market of South Korea was very small. That is why there was no chance of much growth there. Therefore Hyundai Pony was exported internationally. This car also became famous outside South Korea in Canada.

Hyundai wanted to launch this car in the USA. But USA rejected this car due to its policy. Chung Ju yung did not give up and made further improvements in the car. After which, this car was launched in USA as well after fully complying with USA’s policy. The new version of Hyundai Pony was launched in USA as Hyundai Pony Excel. The price of this car was $5000. Which was less than other cars. That’s why this car started selling more in USA, Hyundai’s profit had now reached the sky. Because their business had now spread from South Korea to USA.

Due to being so cheap, people started making fun of this car. This car was cheaper than other cars, along with this the quality of this car was also not good compared to other cars. People had to get it repaired again and again. This car flopped badly in USA. Not giving up, Hyundai started working harder and started introducing new models along with its engines and parts. These new models started making a name in other countries including America. This time their quality was also good and they were also affordable. That’s why customers were also happy with them. Soon Hyundai became one of the biggest car companies in the world.

1) Death

Chung Ju yung who started his journey by selling rice had now become the owner of a successful multinational company. He was called the Hyundai founder. His business kept growing and along with it his age also started declining. Due to old age his health was not good anymore. That is why he took retirement and handed over the company to his sons. Chung Ju yung died in 2001 and he left behind the world’s third largest car manufacturing company. From this journey of Chung Ju yung we learn that if you work hard in life and do not give up, then only you will be able to succeed.