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| Title | Company that is loved by and loves customers… | 2007.05.16 |
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FROM: [Maeil News/ May 16] [Economics Column] Company that is loved by and loves customers… This May marks Daesung Group’s 60th anniversary. So called big, successful global companies in Korea are around 40 years old. Daesung started its business in 1947 in a Chilsungdong, Daegu, openning early days of the Korean business history. Note that average tenure of the 500 companies in USA was 50 years 20 years ago and now has decreased to 15 years. Daesung’s 60 years is not so short. Looking back to the 60 years of Daesung, I can only be thankful that the company has overcome inescapable reality of difficult times; Korea was then the poorest country in the world and Daesung was established during the chaotic and politically unstable era. It has also regenerated itself after the Korean War and continually made progress throughout modern history. What is interesting is that coincidental happenings were allusions of what would newly fold later on. And these were to later form the company’s culture. Daesung Group’s founder Kim Soo Keun started business with 3 employees and 7 workers. Small in number but was the symbolic marking of the “End of firewood fuel era, beginning of fossil fuel era.” Daesung faced crisis as it started its business; the Korean War. Daesung’s employees had to evacuate to Busan. Daegu had fallen into ruins after two months. Founder Kim Soo Keun was almost on the verge of losing his business. And then, something extraordinary took place. The storage that had been filled with blackboards before the war broke out was still safe and not ruined. What was more surprising is that the person who took care of the storage was that old lady who was running the small restaurant near the soft coal factory. When Daesung first started its business in Chilsungdong, there was a very small restaurant nearby. The owner used to complain everyday about the dust from soft coal because the black powder would ruin her table, let alone ordered dishes. There were no facility to solve the problem then and Founder Kim could only stay quiet. After the incidents, Daesung employees were uncomfortable but on purpose, they visited the Restaurant, often and the place became the hang-out place for Daesung employees after work. Ever since then, the old lady no longer lost her temper; rather she became good friends with the neighbors; a win-win situation. When everyone had evacuated, she stayed behind in Daegu and watched over the storage. This experience had offered Founder Kim a chance to realize the importance of neighbors/clients relationship. This later became the inspiration to Daesung’s motto, ‘Company that loves customers and company that is loved by customers.’ Furthermore, the above opportunity came unexpectedly. My mother, Yeo had heard that the husband of her church friend was jobless at the moment. He was a blackboard engineer, and with him being unemployed, his household was in trouble. Yeo suggested to Founder Kim that he starts a black board factory to help him. Until this date, Daesung prides itself in careful, possible life-long board and it differs from the American labor-contract oriented board; its philosophy is the foundation of Daesung’s competency and harmony within company. Once the war was over, schools reopened. But a lot of blackboards were taken during the war and classes were having some troubles. Ministry of Tourism and Education was in great need of black boards and so purchased with a good sum. With the profit generated by blackboards, business was able to get back on its feet again. What is more meaningful is that Daesung had contributed to the education-normalization by providing blackboards when supply was of short. Daesung Group has started as a soft-coal enterprise, its new business platform was education-related business, and this is becoming an emotional interconnecting link to a culture business Daesung Group is currently |
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| NO | Title | Date |
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| 132 | Company that is loved by and loves ... | 2007.05.16 |
| 131 | Daesung Group's Wellbay to operate ... | 2007.05.16 |
| 130 | Interview: Daesung Group CEO Kim Yo... | 2007.05.14 |
| 129 | [Book] Grace Upon Grace | 2007.05.10 |
| 128 | [Book] Walking After the Light: Bea... | 2007.05.10 |
