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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

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» CCS.N0000 ( Ceylon Cold Stores)
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» Dividend Announcements
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» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
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» The Korean Way !
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» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
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» Equinox ( වසන්ත විෂුවය ) !
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
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» REXP.N0000 (Richard Pieris Exports PLC)
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» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
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» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
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» Bitcoin and Cryptocurrency
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» CSD.N0000 (Seylan Developments PLC)
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» PLC.N0000 (People's Leasing and Finance PLC)
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» Bakery Products ?
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» NTB.N0000 (Nations Trust Bank PLC)
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» Going South
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» When Seagulls Follow the Trawler
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» Re-activating
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» අපි තමයි හොඳටම කරේ !
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» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
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» SAMP.N0000 (Sampath Bank PLC)
From කොරියා to KOREA - Page 3 EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
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» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
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» Banks, Finance & Insurance Sector Chart
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» VPEL.N0000 (Vallibel Power Erathna PLC)
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» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
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» WATA - Watawala
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» KFP.N0000(Keels Food Products PLC)
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» Capital Trust Broker in difficulty?
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» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
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» What Industry Would You Choose to Focus?
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» Should I Stick Around, or Should I Follow Others' Lead?
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Disclaimer


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+6
chutiputha
jiggysaurus
Future123
කිත්සිරි ද සිල්වා
HUNTER
yellow knife
10 posters

    From කොරියා to KOREA

    chutiputha
    chutiputha
    Top contributor
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    Posts : 1948
    Join date : 2014-11-09
    Age : 38
    Location : SL

    From කොරියා to KOREA - Page 3 Empty Re: From කොරියා to KOREA

    Post by chutiputha Mon Oct 05, 2015 11:45 pm

    nihal123 wrote:දන්නේ නැහැ මල්ලි
    කොරියාවට ගිය කාගෙන් හරි අහන්න.

    Very Happy

    YK සර් දන්නවා ඇති,අස්සක් මුල්ලක් නෑර දන්න එකේ එහෙ ඉන්න අය ගැනත් දන්නවා ඇති.

    එයාලගේ attitudes,එකලගේ හැටි YK සර් නම් හොදට දන්නවා ඇති...
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    From කොරියා to KOREA - Page 3 Empty Re: From කොරියා to KOREA

    Post by yellow knife Tue Oct 06, 2015 10:14 am

    Interval is over back to study

    ======================================

    Hyundai Cars

    General Park Chung Hee's government never wavered its intention to build a globally competitive automotive sector.

    Chung Ju Yung ( founder of Hyundai group ) promised General Park taht he would export 5,000 cars in his first full production year, 1976 if he was given funding fro a Korean " Citizens" car.

    Hyundai Motor Company ( HMC ) had no technological background to produce cars. The founder Chung Ju Yung had a vehicle repair shop earlier

    ==============================================

    Chung Ju Yung

    From කොරියා to KOREA - Page 3 2Q==


    Chung Ju-yung
    Entrepreneur
    Chung Ju-yung was a South Korean entrepreneur, businessman and the founder of all Hyundai Groups of South Korea. Wikipedia
    Born: November 25, 1915, Tongchon County
    Died: March 21, 2001, Songpa District, South Korea
    Spouse: Byun Joong-seok (m. 1936–2001)
    Children: Chung Mong-joon, Chung Mong-koo, Chung Mong-hun, More
    Organizations founded: Hyundai, Hyundai Group, More
    Grandchildren: Chung Eui-sun, Chung Myung-yi, Chung Yun-yi, More


    Last edited by yellow knife on Tue Oct 06, 2015 10:42 am; edited 1 time in total
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    Post by yellow knife Tue Oct 06, 2015 10:18 am

    Chung family members understood that technical support should be taken from Japan , but not from big car manufacturers.

    They found Japan's weakest scale car maker, Mitsubishi and and MMC (Mitsubishi Motor Company) provided the key technologies for HMC.

    The technologies included designs for an engine, transmission and rear axle.
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    Post by yellow knife Tue Oct 06, 2015 10:21 am

    Next Chung family hired the big boss from England, former boss of failing  British Leyland to run the production of HMC. Thats Gerorge Turnbull. Turnbull in return hired six European engineers to plan a factory and run the production roles.


    From කොරියා to KOREA - Page 3 2Q==


    George Turnbull
    Businessman
    Sir George Henry Turnbull, CEng, FIMechE was a UK automobile executive best remembered in the UK for his period as managing director of the Austin-Morris Division of British Leyland. Wikipedia
    Born: October 17, 1926, Coventry, United Kingdom
    Died: December 22, 1992
    Education: University of Birmingham


    Last edited by yellow knife on Tue Oct 06, 2015 10:38 am; edited 1 time in total
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    Post by yellow knife Tue Oct 06, 2015 10:24 am

    One of the first thing Turnbull did was rejecting an engine MMC wanted HMC to use. It would have under powered the Pony-the first Hyundai car.

    Upon rejection MMC (Mitsubishi) understood that they are not playing with novices and they knew that they cant fool Hyundai.
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    Post by yellow knife Tue Oct 06, 2015 10:25 am

    Chung family did not want to see Turnbull and the team becoming too powerful , so they gave the designing of the car to Italian car designer, ItalDesign to proved them an independent look.
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    Post by yellow knife Tue Oct 06, 2015 10:28 am

    Finally Hyundai created the car they need which is their own.

    The early exports that Chung Ju Yung promised General Park were offloaded at a loss in countries like Nigeria, Saudi Arabia, Peru and Ecuador.

    Being in a family business made Hyundai to absorb losses for years (without closing the unit)  and run the business from funds created from other branches like construction.




    Hyundai Pony the first car model

    From කොරියා to KOREA - Page 3 9k=


    Last edited by yellow knife on Tue Oct 06, 2015 10:40 am; edited 1 time in total
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    Post by yellow knife Tue Oct 06, 2015 10:32 am

    The family gave a party to Turnbull and the team and sent them home.
    Now Hyundai can manage on their own.
    Hyundai sold a minority stake to Mitusbishi so that MMC would feel that they too have ownership of HMC but not a big stake that would really make them worthwhile in decision making.
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    Post by yellow knife Tue Oct 06, 2015 10:33 am

    HMC next entered US with a new model Excel , a small car that was priced one-fifth cheaper than any of its competitors.


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    Post by yellow knife Tue Oct 06, 2015 10:50 am

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    Post by yellow knife Tue Oct 06, 2015 10:54 am

    If you want to study Chung Ju Yung's life story turn to Wikipedia..


    https://en.wikipedia.org/wiki/Chung_Ju-yung

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    Post by yellow knife Tue Oct 06, 2015 10:56 am

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    Post by yellow knife Tue Oct 06, 2015 4:33 pm

    Hyundai was not the only car licensed in Korea.

    EPB ( Economic Planning Board) allowed four car manufacturers to engage in fierce competition in Korea.

    EPB fixed the car prices allowing manufacturers to compete only on quality first in domestic market and then in International market.

    Shinjin Chaebol worked in a joint venture with General Motors and created Saehan Branded vehicles.

    Saehan Cars

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    Post by yellow knife Tue Oct 06, 2015 4:36 pm

    Shinjin Chaebol took too much debt than they can service and Korean government had to put it out of business and in 1982 Daewoo acquired that sharing 50% with GM.

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    Post by yellow knife Tue Oct 06, 2015 4:43 pm

    Third original entrant was KIA, who was a bicycle and motor cycle manufacturer who like Hyundai got technology from Honda, and never gave any controlling or worthwhile stake to Honda.

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    Post by yellow knife Tue Oct 06, 2015 4:47 pm

    Other chaebols also asked the right to get into the car manufacturing business. Government allowed but remained ruthless for any who can not service the debt.

    Asia Motors entered and failed in 1980s.
     
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    Post by yellow knife Tue Oct 06, 2015 4:52 pm

    By early 1990s there were four players

    1. Hyundai
    2. Daewoo
    3. Kia-Asia Motors
    4. Ssang Yong (four wheel specialist)

    Daewoo was getting more political support than Hyundai.

    Asian financial cirisis hit Daewoo who was too heaviliy leverated- despite much improved products like its Matiz mini car.

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    Post by yellow knife Tue Oct 06, 2015 4:58 pm

    IMF intervened Korea and Daewoo assets were sold to its former partner General Motors.

    Hyundai acquired KIA in 1998.

    Ssang Yong was taken over by Chinese state owned firm Shanghai Automotive Industry Corp ( SAIC ).

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    Post by yellow knife Tue Oct 06, 2015 5:04 pm

    By 2000 Hyndai became the real winner after much fierce competition in auto market in Korea.

    It survived in the savage domestic market competition.

    The carcasses of other failed auto manufactures were tossed in front of HMC many times by Korean government.

    From one aspect Korean government was supporting, protecting, subsidizing and nurturing the auto manufacturers..

    But survival of the fittest test was not abandoned by Korean Government.
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    Post by yellow knife Tue Oct 06, 2015 5:06 pm

    It had taken 36 years for Toyota to sell 10 million vehicles.

    Hyundai achieved that mark of 10 Million within twenty eight years.

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    Post by yellow knife Tue Oct 06, 2015 5:10 pm

    A family business with no previous industrial experience had  created one of the world's most successful car companies. And the primary reason that it was able to do so was state industrial policy.

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    Post by yellow knife Tue Oct 06, 2015 5:12 pm

    Branding and advertising helped them to capture business in US.
    One issue they found in US market is employees often get fired out of employment. On such Hyundai was ready to repurchase the vehicle.

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    Post by yellow knife Tue Oct 06, 2015 5:15 pm

    Family businesses of South Korea won the world..

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    Post by yellow knife Wed Oct 07, 2015 10:10 am

    Books written by General Park Chun Hee

    No 1.

    To build a nation
    Book by Park Chung-hee
    Originally published: January 1, 1971
    Author: Park Chung-hee


    No 2.


    Our nation's path;: Ideology of social reconstruction Hardcover – 1969
    by Park Chung Hee (Author)


    General Park Chun Hee communicated his way of thinking to the general public by authoring books
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    Post by yellow knife Thu Oct 08, 2015 8:25 am

    South Korea which came from no-where is now even compared with US

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