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| Title | [CHIEF EXECUTIVE] [Cover Story] Transformation into an International Caliber Culture Enterprise Group | 2006.01.07 |
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FROM:  Cover Story "Transformation into an International Caliber Culture Enterprise Group" Published on Monthly Magazine, Chief Executive (November Issue) David Younghoon Kim Chairman of Daesung Group "A THEME PARK WHERE CULTURE LIVES AND BREATHES..." For the past fifty years the Daesung Group has demonstrated sure and steadily growth as an energy company. Recently, however, the firm's chairman, David Younghoon Kim has explicated his dreams of a major transformation, the equivalent of a "Second Inauguration" that will establish his company as a culture industry. For Chairman Kim, a theme park is not simply an amusement park, but rather a place where those who face the challenges of a new era, the global leaders of tomorrow, can be inspired to dream. The reporter of Chief Executive met with Chairman Kim, who is now focused on creating a platform for his company's metamorphosis into a culture industry, at his company headquarters on the 12th floor of the Dongduk Building on October 16, 2005. "THE GROUP IS STAKING ITS FUTURE ON THE CULTURE INDUSTRY, WHICH OFFERS US THE OPPORTUNITY TO MAKE UP FOR THE TIME LOST DURING THE PAST 50 YEARS..." Although this is the first time that Chairman Kim has spoken about his monumental vision, he overflows with self-confidence as he talks about the enormous challenge he faces transforming his company into one of the world's finest culture industry groups.  He noted, "Martin Luther once said, 'that which moves life is hope'." Indeed, Chairman Kim's expression was very hopeful for someone who must have many things on his mind as he plans on taking on an entirely new world. -Your company is making a quantum leap from one that specializes in energy to that of culture. Is there a reason for this change? It was in the early 1960s...Daesung, thanks to the sale of briquettes, had an extremely large amount of cash. When a Korean-American professor heard this he advised my late father (Chairman Sukeun Kim) to invest in the semiconductor industry, my father refused. At the same time, the late Chairman of Samsung, Byung-chull Lee did enter that industry and his company achieved the success it now enjoys. At that time the size of Daesung and Samsung were approximately the same but today Daesung has grown more slowly than Samsung. My feeling is that it is as if we lost 50 years. Yet the culture industry is much, much bigger that the electronics industry created by semiconductors. Its growth rate is from two to three times greater and, what's more, its profitability is high. I believe the culture industry will offer us the opportunity to regain those lost 50 years and provide the strategic breakthrough for the future of the company. As Victorian Era novelist Benjamin Disraeli said, "If you want to read a good novel then write one" and so I too have a very profound interest in culture. -From what you say it seems as if you have your own personal philosophy about culture and culture industry... Culture is the social environment. In terms of permanence, the culture industry could be called environmental industry. There are absolute values in the concepts of "gin" (truth), "seon" (goodness), and "mi" (beauty), yet these values have become greatly polluted. The culture industry is an industry that purifies the spiritual and social environment allowing people to extract the essence of gin/seon/mi from their everyday lifestyles. -What prospects do you see for the culture industry? The paradigm for industry throughout the world is changing.< |
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| 36 | [CHIEF EXECUTIVE] [Cover Story] Tra... | 2006.01.07 |
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