Do you know how to create value? — Chairman Chung Ju-yung (Hyundai)

: Wild creativity that breaks stereotypes

“Hey, you can wash vegetables and eat them, but you can’t turn back time. Don’t dawdle.”

He loved being on-site even past the age of seventy. It is said that he felt alive not on a soft sofa in a cozy home, but on a construction site where dirt and dust flew. The thrilling pleasure of breaking through difficult problems that others couldn’t solve with eccentric and creative methods! That was the reason for Chairman Chung Ju-yung’s existence.

📍 Location 1. Seosan Reclamation Land: The Chung Ju-yung Method (Oil Tanker Method)

Address: Seosan-si, Chungcheongnam-do

A reclamation project to create land by blocking the sea off Seosan. The final water-blocking work was the problem. The current was 8 meters per second. Even when pouring in boulders as big as houses, they were all swept away by the fierce current. Leading civil engineering scholars shook their heads and told him to give up. Then, a flash of an idea came to him.

“Hey, there’s a decommissioned oil tanker in Ulsan, right? Bring it here.”

“Chairman, what are you going to do with that?”

“We’re going to block the water with it.”

The ship was filled with water and sunk to block the current. Then, like magic, the water path was caught. The remaining work proceeded without a hitch. This is the ‘Chung Ju-yung Method’ recorded in global civil engineering textbooks.

Knowledge learned in school is not everything. Look at the field instead of rolling your head at a desk. Eccentric imagination changes the world.

📍 Location 2. Busan UN Cemetery: The Wisdom of the Barley Field

Address: Nam-gu, Busan

In the middle of winter, an order was given to cover the UN Cemetery with green grass because U.S. President-elect Eisenhower was visiting. Where is green grass in the middle of winter? Even the U.S. military was giving up. I mobilized 30 trucks and bought entire barley fields along the Nakdong River.

When the fresh green barley was transplanted, it became a wonderful green cemetery. Isn’t it enough if it’s green, whether it’s barley or grass?

The event ended successfully, and the U.S. military was so impressed they paid three times the construction cost. “Make it happen even if it seems impossible.” That is not just stubbornly insisting. It is the creativity to twist your thoughts and find a solution.

📍 Location 3. Baden-Baden, Germany: The Miracle of the ’88 Seoul Olympics

Address: Baden-Baden, Germany

In 1981, I went to Germany to host the Olympics. The opponent was Nagoya, Japan. Japan lobbied by gifting luxury watches, while we were poor. Everyone said it was like “hitting a rock with an egg” and told us to give up. But I did not give up.

I visited the residences of IOC members one by one and gifted them flower baskets. I bowed and said in my rough English:

“If you come to Korea, we will treat you like kings. Our people desperately want this.”

Sincerity worked. A miraculous come-from-behind victory where developing country Korea defeated economic power Japan. That is how the Seoul Olympics were born. Do not be afraid even if the opponent is too strong. If you collide with all your heart, you can even break a rock.

📍 Location 4. Panmunjom and the Cow Herd Visit to North Korea: The Homecoming of 1,001 Cows

Address: Panmunjom, Paju-si, Gyeonggi-do

In 1998, I crossed Panmunjom with 1,001 cows loaded on trucks. The runaway boy who had left home at age 17 after stealing 70 won from selling his father’s cow was now on his way back home with 1,001 cows.

“Father, I am going to pay back my debt now.”

They were not just cows. They were the key to opening the door of a tightly closed division. An entrepreneur did what politics could not do. I wanted to show that peace comes from exchange and trust, not from guns and knives. The last task of my life was completed that way.

📍 Location 5. Cheongun-dong Home in Seoul: The Aesthetics of Frugality

Address: Cheongun-dong, Jongno-gu, Seoul

This is the house where I lived my whole life. For a tycoon’s house, the furniture is old and humble. When my shoes wore out, I put studs in them to wear them longer, and I enjoyed wearing old jumpers.

People say they do business to make money, but I lived for the fun of achieving something rather than the fun of spending money. An entrepreneur is not someone who flaunts wealth. They are people who create jobs through wealth, contribute to society, and create greater value. These old shoes I am wearing are more comfortable and prideful to me than any luxury brand.

Epilogue: Hey, have you ever tried?

Born as the son of a poor farmer, going through being a rice store delivery boy and a manual laborer to building a world-class company. How was your three-day journey with him? He didn’t have a special talent.

He just lived by holding onto one principle: a positive thought of “I can do it,” a blunt execution of “Let’s just try it first,” and “Credit is life.” Are you sitting down because things are hard right now? Are you whining because you lack specs or money? Chairman Chung Ju-yung would have probably said this:

“Get up. And collide. If you fail, do it again; if there is no road, make one. What is youth?

Isn’t it the privilege to be able to get back up even if you fall?

Lastly, I want to ask you. Are you only calculating in your head? Are you only worrying? Hey, have you ever tried?”

Just like Chairman Chung Ju-yung’s question, you don’t know until you try.

I am looking for people who are tired of office life or who want to create value and monetize through something of their own.

Life seems to become more enjoyable and fun when you say “Yes” rather than when you answer “No.”

It’s not easy if you do it alone, but we can achieve it if we do it together! Instead of worrying, how about saying “Yes” just once?

Have a great end of the year, Merry Christmas and Happy New Year!