Hyundai Motors in international market
Essay for International Trade
Title : Hyundai Motors in International Market
Hyundai Motors, one of the affiliates of Hyundai Corporation, started as a joint-venture company with Ford. Before introducing more about Hyundai Motors, a man who founded the company should come first. Joo-young Jung was an entrepreneur, businessman and the founder of all Hyundai Groups of South Korea. Joo-young Jung was born in 1915 to a large impoverished family of peasants during the time when Korea was under Japanese rule. He dreamed of becoming a school teacher but his dream was cut short because the restrictive environment at the time kept the family stuck in poverty, and that kept him away from the opportunities of higher education. Despite of the situation he was in, he did not stop learning. He thought he would never success if he is stuck with his family so he attempts several times to run away from home, but every time he ran away from home he got caught by his father. At last, he succeeds at his fourth attempt. He got a job as a deliveryman at the rice store in Seoul and soon he learned to manage the store`s accounting - the experience helped Joo-young thoroughly gain his business sense. After making some fortune, he purchased service garage to start A-do Service Garage and he founded Hyundai Automobile Industry in 1946. At first, its main business was repairing U.S. Army vehicles or Japanese cars, but thanks to Joo-young Jung, his wide knowledge of car mechanism helped the company to secure customers by providing high quality services. For 17 years, it remained as repairing company but when Korean government designated automobile as a main export product in 1962, Joo-young Jung waited his time and founded Hyundai Motors(HM) in 1967. At that time, no companies had technology to produce automobiles by themselves and it was same for HM either so they needed a partner. It was either GM or Ford, and HM choose Ford because GM tends to intervene
Title : Hyundai Motors in International Market
Hyundai Motors, one of the affiliates of Hyundai Corporation, started as a joint-venture company with Ford. Before introducing more about Hyundai Motors, a man who founded the company should come first. Joo-young Jung was an entrepreneur, businessman and the founder of all Hyundai Groups of South Korea. Joo-young Jung was born in 1915 to a large impoverished family of peasants during the time when Korea was under Japanese rule. He dreamed of becoming a school teacher but his dream was cut short because the restrictive environment at the time kept the family stuck in poverty, and that kept him away from the opportunities of higher education. Despite of the situation he was in, he did not stop learning. He thought he would never success if he is stuck with his family so he attempts several times to run away from home, but every time he ran away from home he got caught by his father. At last, he succeeds at his fourth attempt. He got a job as a deliveryman at the rice store in Seoul and soon he learned to manage the store`s accounting - the experience helped Joo-young thoroughly gain his business sense. After making some fortune, he purchased service garage to start A-do Service Garage and he founded Hyundai Automobile Industry in 1946. At first, its main business was repairing U.S. Army vehicles or Japanese cars, but thanks to Joo-young Jung, his wide knowledge of car mechanism helped the company to secure customers by providing high quality services. For 17 years, it remained as repairing company but when Korean government designated automobile as a main export product in 1962, Joo-young Jung waited his time and founded Hyundai Motors(HM) in 1967. At that time, no companies had technology to produce automobiles by themselves and it was same for HM either so they needed a partner. It was either GM or Ford, and HM choose Ford because GM tends to intervene