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The Teachings of Jeong Ju-young, a Great Economic Giant

  • Writing language: Korean
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Summarized by durumis AI

  • Jeong Ju-young is the founder of the Hyundai Group, a self-made businessman who made a great contribution to the growth of the Korean economy despite only graduating from elementary school.
  • He started with rice delivery in the 1930s and led the growth of the Korean economy in the 20th century by engaging in various fields, including construction and politics, and also worked hard on inter-Korean business.
  • Jeong Ju-young emphasized the infinite potential of human beings with the belief that "conviction creates relentless effort," and argued for the importance of challenge and effort.

The late Jeong Ju-young

Jung Ju-young (1915.11.25. ~ 2001. 3.21.)
A South Korean businessman and politician. His nickname is 'King Chairman'. He was the founder and first chairman of the Hyundai Group, and is a representative first-generation businessman in South Korea. He is also a legendary self-made figure who rose from an elementary school graduate to build a huge conglomerate, the Hyundai Group, in the turbulent modern history of Korea.

He was a representative businessman who led the economic growth of Korea in the 20th century, starting with rice delivery in the 1930s and moving on to automobile repair and construction. In the 1990s, he entered politics but was defeated. After that, in 1998, he led a herd of cattle to North Korea, which led to the recruitment of Mount Kumgang tourism and other North Korean businesses, and he died in 2001.

His pen name is 'Asan (峨山)'. It is derived from the name of his hometown village in Gangwon-do, North Korea. Today, there is Asan-ro in Ulsan Metropolitan City, named after his pen name.

There are trials, but there is no failure.
There may be miracles in religion, but I believe there are no miracles in politics and economics.
What economists call a miracle is a lame excuse for the realization of what is impossible according to economic theory and numerical data.
We have definitely done things that are impossible theoretically or academically.
This is the result of our people's enterprising spirit, pioneering spirit, and passionate efforts.
It is the power of the mind.
Belief creates unwavering effort.
This is the key to the miracle.


Our country has lost its enterprising spirit, so we have not thought about expanding outwards by land or by sea, and have wasted a long time fighting among ourselves, families, and siblings, within this narrow landmass.


In principle, there was nothing that could be done in the Korean economy. There was nothing that could be done. There is no capital, no resources, and no accumulation of technology to win an economic war. This was our reality. However, I believe that what has brought our industry to this level today is the result of a special sense of mission and effort to fill in all the deficiencies we have with creativity and an enterprising adventurous spirit.


The success or failure of any task depends on the thinking and attitude of the person doing it. It is certainly a great adventure, but without adventure, there is stagnation, followed by falling behind, and then collapse.


It is the power of the mind. Belief can create unwavering effort. An enterprising spirit, this was the key to the miracle. I have been doing business until today, and am still challenging myself today, with the joy of achieving things that humans themselves have defined as limits.


The potential of human beings is infinite. This infinite potential of human beings promises infinite possibilities to everyone.


For anyone, for anything, the active thinking that everything needed is learned and made mine, an enterprising attitude, I have never hesitated to expand small experiences into a larger reality. As long as there is a firm belief in the goal and corresponding efforts are poured in, anyone can do anything. Anyone can do it.

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