chapter  14
20 Pages

LESSONS FOR THE GLOBAL ENTREPRENEUR

Why was Hyundai so successful in global markets? According to Chung, the answer is simple: "We competed with many famous foreign companies and defeated them based on our superior technology and competitive spirit. We did not avoid competition; competition only made us stronger."4 And despite recent setbacks experienced by the Korean economy, Hyundai is well positioned to continue to grow in the future.