Chung Ju-yung Founder of Hyundai Motor Company

Biography of Chung Ju-yung

Early Life

Chung Ju-yung founder of Hyundai Motor Company was born on 25^th of November, 1915 in Kangwon Province today that is present in North Korea. He was born when Korea was ruled by Japanese rulers. He belonged to a very poor family of peasants. Initially his dream was to be a teacher at a school but due to poor conditions of his family he was restricted on the farms to support the family. Those restrictions also kept him away from educating himself. He was not educated enough for teaching.

But despite of these poor conditions he was very much interested in studying, that was the reason that whenever he got time he used to attend a Confucian school of his locality. That school belonged to his grandfather. His grandfather ran that school, due to that reason he didn’t see any difficulty in attending that school.

Early Career and Hunt for Business

He had great talent for doing business but at the time of his childhood it was hidden. His talent sparked when he went on to sell wood in different towns of his locality. He used to read articles in newspapers and going through very competitive and fast environment. He was very much tired of the difficulties faced by his family due to poverty. He decided to break the shackles of poverty and start something of his own or do any job. He was sixteen years of age when he decided to leave his town and go to other town in search of a job. He travelled to the city of Chongjin with his friend for doing job. There both of friends got jobs of construction workers. He and his friend both worked very hard there to earn money. He was very happy that he could earn money by himself. They continued to work there for several months.

Other Jobs

That was not the only job which was done by him. Actually he was very much bored of the work which he had to do on the family farms. So usually he escape from his village to avoid that work and do some other job which would eventually earn him money and keep him away from poverty. For this purpose he made many attempts and escaped from home to Seoul for doing jobs. Sometimes that escape proved to be successful and sometimes it ended with terror. In his journey of jobs he did many jobs which included paper delivery boy, a construction worker, an accountant, and other jobs also. One time he escaped and went to Seoul and enrolled himself into an accounting school for learning book keeping. After that he was able to work as an accountant.

After all these jobs he went on to work for a rice store, after some time he became the owner of the shop and operated his own business of rice.

Founder of Hyundai Motor Company

He earned so much money from his different jobs and was ready for the opening of his own big business. When Korea got freedom from Japanese rulers in 1946; he started a company with the name Hyundai and Hyundai Civil Industries. He had expectation in mind that after war country needed reconstruction and industrialization works which he started. Within short span of time he got major contracts of construction in the field of transportation infrastructure. By time facing ups and downs his company progressed a lot and became a renowned company in the manufacturing of automobiles and vehicles. His company products ranged from small cars to big long trucks.

Hyundai Motor Company

Hyundai is a multinational company of South Korea in the field of automobile manufacturing. It’s headquarter is based in Seoul, South Korea. It manufactures big and small automobiles. As far as ranking is concerned, it ranked number fifth as the world’s largest automaker in terms of yearly sales. It is also on fourth slot in terms of automobile manufacturing.

This Company supply vehicles in more than 193 countries of the world and employed almost 75,000 persons throughout the world with more than six thousand dealers.

Death

He died of natural cause at the age of 85 years on 21^st March 2001 at his home in Seoul.