Thoughts on Korean Business by Don Southerton

By Don Southerton, Editor To honor the 10th anniversary of the passing of Hyundai founder Chung Ju-yung, the Hyundai family groups are collectively commemorating the patriarch in a memorial services and  photo exhibit.  The Hyundai founder was not only a highly successful industrialist, but also a nation-builder and forward thinker. Korea Times notes Chung Ju-yung, third from right in the front row, shakes hands with an employee at Hyundai Motor’s research center in Hwaseong, Gyeonggi Province, in 1999. Next to him is his son, Hyundai-Kia Automotive Group Chairman Chung Mong-koo. By Kim Tae-gyu Under the leadership of late founder Chung Ju-yung, Hyundai Group climbed to become Korea’s No. 1 conglomerate but the empire showed signs of slowly crumbling after his death at 85 on March 21, 2001.   A long and tumultuous life was marked with both success and tragedy and he lost two sons before his passing. The six sons and one daughter remaining went on to divide th...

By Don Southerton, Editor Few have not been shocked at the devastation from the earthquake and tsunami in Japan. Concerns over partial meltdowns and explosions at the crippled nuclear power plants only add to the situation.  How will this disaster impact Japan and Korea-- strong competitive rivals in automotive and electronics sectors?  Media reports out of Japan (see below) note that auto production has been halted.  The electronic industry also is seeing similar issues.  That said, I feel we'll see a push by Korean global business groups to capitalize on the opportunity. Some Korean securities firms have noted with the disruption in Japanese brands' supply chain, production, and logistics Korean firms will move aggressively.  One also cannot discount some bitterness towards Japan by Koreans who suffered under Japanese colonial rule from the early 1900s to 1945. I see 2 immediate Japanese auto industry concerns surfacing.   1. M...