By Theresa Youn-ja Shim (eds.)
The progress of entrepreneurship in South Korea has grew to become the rustic into an financial powerhouse. during this choice of essays, students spotlight the beneficial political and cultural values conductive to its improvement, together with the features of entrepreneurial family members companies and the effect of latest media and globalization.
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Extra resources for Korean Entrepreneurship: The Foundation of the Korean Economy
The debate about sending Korean forces went on among cabinet members and civil society, but in the end it was decided to dispatch soldiers taking into account the help received from America during the Korean War and America’s commitment to deliver armaments to the Korean army. He also knew his country was dependent on American aidas the one of the major resources for economic development, so it was impossible for him to say no. During the eight years and eight months that Korean soldiers were stationed in Vietnam, Korean companies, including Hyundai, Dai-rim construction, Kyung-nam enterprise, San-whan enterprise, Hanjin, and Boo-heung, were also willing to take risks to get business opportunities in Vietnam.
He considered it dangerous to believe that any external power would help him for personal and business success. The only way one could grow was though one’s continued efforts and positive thinking. From an early age he labored as a dock worker, construction laborer, and rice deliverer. But he always thanked his parents for the lessons of diligence he learned from them, and he believed that it was this inheritance that helped get to where he did (Chung, D. , 2007, p. 260). Second, he had visions about markets and the ability to create new markets.
Army needed to build a base in Harbour City where their army supplies were docked, but most foreign companies from America, Australia, France, and Singapore were making difficult progress due to the dangers of the war. Hyundai took the job and finished it within an unexpectedly short time with only one ship. S. Army earned more than $1 billion, and many of the companies later became conglomerates. Soldiers also sent $300 million home to their families. With that money, Korea was able to develop their defense forces and the heavy chemical industries.