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The Strategy for Korea's Economic Success$
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Hwy-Chang Moon

Print publication date: 2016

Print ISBN-13: 9780190228798

Published to Oxford Scholarship Online: May 2016

DOI: 10.1093/acprof:oso/9780190228798.001.0001

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Korean Business Leadership for Corporate Growth

Korean Business Leadership for Corporate Growth

Chapter:
(p.49) Chapter 3 Korean Business Leadership for Corporate Growth
Source:
The Strategy for Korea's Economic Success
Author(s):

Hwy-Chang Moon

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190228798.003.0004

Among various determining factors, strong business leadership played a crucial role in Korea’s economic rise. This is perhaps best exemplified by the cases of Park Tae-jun, Lee Byung-chul, and Chung Ju-yung, the founders of POSCO, Samsung, and Hyundai, respectively. Each of the entrepreneurs faced tremendous disadvantages at the onset, but through excellent leadership and decision-making, they were able to grow their companies into the global brands they are today. The case studies provide meaningful lessons for businessmen and policymakers who wish to build competitive advantages in their fields despite their late entry in the market. Most important, these three leaders serve as good examples to prove the validity of the ABCD model by showing how a late starter without significant resources and capabilities can gain competitiveness among strong companies from advanced countries.

Keywords:   business leadership, Park Tae-jun, Lee Byung-chul, Chung Ju-yung, POSCO, Samsung, Hyundai

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