chapter  5
22 Pages

DRIVING IS BELIEVING

Although Chung had been forced to sell his Hyundai Motor Service Company shortly after the Korean War to payoff some of his debts, he never forgot his dream that someday Hyundai would actually build cars for Korea's roads and highways. To Chung, it was a matter of national pride that Korea should build its own cars. Automobile manufacturing was widely considered a key economic indicator of industrialized nations; it was a symbol that a nation had arrived. Chung was determined that Korea be counted among this group. In addition, he realized early on that a domestic automobile industry meant greater employment and economic prosperity and less dependence on foreign suppliers. Korea's fledgling economy could not fully develop without a solid-and independent-transportation industry. Chung's dream of an empire based on heavy industries mandated that he try to take the lead in this endeavor.