As a young man, Chairman Kim adopted two personal mottos: "Where there is a will, there is a way" and "Result is proportional to effort." Guided by these mottos in managing his company over the years, he holds an unshakeable belief that one should not hesitate to do what one thinks is right, and that any gains should be earned from honest efforts otherwise they are undesirable. Such beliefs combined with strict self-discipline have gained him a reputation of being courageous and pragmatic.

2) Distinguishing Reality from Illusion

Chairman Kim believes that strong corporate cultures develop when management is guided by a strong sense of reality as opposed to illusions of vanity and formality. At the core of his "reality management philosophy" is the principle that the most effective managers focus on enhancing the sustainability of their businesses, and are not distracted by the illusory trappings of visible growth and expansion.

Although high-level corporate positions warrant a certain amount of grandeur, Chairman Kim has always maintained a modest and unceremonious nature. He has completely rejected authoritarian and bureaucratic practices, and does not even have an executive assistant, much less a personal secretarial team. He is often found personally making inquiries or attending meetings even during lunchtime. The fact that he frequents affordable eateries near the office for lunch is a testament to Chairman Kim's desire to viewing employees as peers. In many ways, his lifestyle reflects deep respect for real values and substance.

3) Strong Leadership and Powerful Drive

Chairman Kim's farsighted decisions, strong leadership and powerful drive have been vital to Dongbu's rapid growth. Believing that self-management and leadership go hand in hand, he does not resolve important issues simply by issuing orders. Indeed, his management style calls for meeting with executives and their respective staffs to gather suggestions and analyze options. Once important issues are thoroughly discussed, measures are drawn up, and all drive forward with strong leadership and strict rules to execute the measures.

Chairman Kim is often heard telling employees, "If I am asked how I succeeded in business management, I can say that there are two keys to success. The first is fair personnel management and the second is the culture of conference. While I understand that my decision as the Chairman is final and therefore is of great importance, I also understand that I am not infallible and have learned that the best decisions are made when it is based on good information from a number of sources. So, whenever important issues arise I call a meeting and make decisions based on the key information that surfaces. Such meetings allow me to better see the big picture and find solutions more quickly. They are also important because employees can participate thereby giving them a dynamic sense of helping to drive the direction of their company. To make the right decision, I have learned that you first need to draw back from the issue so that you can take in the whole picture."

4) Passion and Sacrifice

Chairman Kim's passion for his work and his willingness to make sacrifices for the company is clearly demonstrated in the fact that he stopped drinking and smoking 20 years ago. The decision to do so was made not only for the sake of his health but also for his professional passion. Chairman Kim once said about the subject.
"Some years ago, I realized that a large company's chairman is responsible not only for the families of its employees but also for a part of the national economy. I realized that a chief executive must always keep his mind and focus clear. In order to do so, I vowed not to drink or to smoke. At times I have been tempted but because I knew full well that even a drop of alcohol could lead me astray, I have persevered and triumphed over temptation. I once even declined a drink offered to me personally by a former president during a visit to Cheong Wa Dae."

5) Studious CEO

Among Dongbu employees there is a saying that the foremost expert on the group's current issues is Chairman Kim. Such reputation is the result of his habit of reading, keen personality and attention to details. It is also the result of his management style of laying out careful plans and carrying out detailed research before he embarks on any venture.

An episode demonstrating such qualities occurred in 1997 when Dongbu Group was preparing to diversify into the non-memory semiconductor industry. At the time, Chairman Kim gave a 2-hour lecture to concerned executives on the subject of "Strategies for Entering the Semiconductor Industry" and surprised the audience with the breadth and depth of his knowledge. This episode highlights Chairman Kim's illustrious penchant for learning about a wide range of subjects.

Influence from the family's political background
Chairman Kim was born on December 4, 1944 into the family of a famous politician where he was constantly exposed to discussions about Korean governance and national issues as he was growing up. As a result, he developed the notion that young people who were born in an impoverished nation, whether from poor or wealthy families, must make sacrifices and achievements for the nation's modernization.

The environment of his hometown Samcheok
The fact that he was born in Samcheok-gun, Buksam-myun (present day Donghae-si), one of Korea's eight main industrial cities developed during the Japanese occupation, also had a great influence on him.
At the time there was a steel company, Samhwa Steel where his uncle once held the post of president after liberation from the Japanese occupation. There was also a fertilizer company in Buksam-myun built by Japanese businessmen. The presence of these companies stirred an entrepreneurial spirit in young Kim leading him to imagine establishing and running his own company in a key industry when he got older.

Inspiration from books
The inspiration Kim gained from books written by world famous businessmen and economists while studying economics at Korea University also played an important role in encouraging him to pursue an entrepreneurial path that would contribute to the modernization of Korea.

The inscription on Andrew Carnegie's tombstone, "Here lies a man who knew how to enlist the service of better men than himself," influenced Kim's views on personnel management. Moreover the line from Aristotle Onassis' autobiography, "Any man who makes one million dollars in his early 20s secures a life as a businessman," instilled in him the dream of becoming a successful entrepreneur.

A trip to the United States
Following an honorable discharge from the mandatory military service, he considered continuing his studies in the United States. However, an earlier opportunity to visit the economic superpower came to him in 1967 when he was invited to visit the United States as part of the Advanced Countries Observation Team that was put together to recruit overseas talents for Korea's electronics industry.

During his visit, he was deeply touched by the differences between Korea's situation at the time and that of the United States where the economy and capitalism had made great progress. He had seen with his own eyes that the drive behind the economic superpower was fueled by individual companies and entrepreneurship.
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At the time, Korean universities were swept by political demonstrations and most Korean students were pondering political questions. However, Kim realized that in an impoverished country, economic ventures presented a more practical way to contribute to the betterment of the nation than politics. Following his return from the United States mission, he became torn between the prospects of studying abroad and pursuing an entrepreneurial path to establish and run his own company.

In 1968, his mother suddenly passed away. With the death of his mother, who had always offered tender encouragement and love, he began to feel the need to lead an independent life. Although his family was financially secure, with his father having little time to spare from his political career for family affairs, Kim assumed this responsibility. Accordingly, such developments came to act as a catalyst for him to establish a company and begin his life as a businessman.

2) Foundation process

Ideas for a tourism venture
While Kim was traveling across the United States he visited Harvard, MIT, Columbia, Berkeley, UCLA and other universities. He also visited Las Vegas, Disneyland and Niagara Falls. Along the way he developed ideas for the type of company he would like to run one day. He concluded that tourism was the ideal industry for Korea, which at that time lacked the natural resources and basic technological capabilities to compete globally.

Kim believed Korea's natural beauty and its distinct 4 seasons could be promoted as tourist attractions. He envisioned Mount Seorak as an attractive winter tourist destination for the Japanese as well as Asians living in Hong Kong, Singapore and other hotter countries where snow was a rarity.

Such thoughts led him to envision a large leisure complex that would host a Korean Disneyland offering a wide variety of recreational facilities including ski slopes, horse racing tracks, hotels, casinos and yacht harbors. He also drew up plans for a one-day tour that would run from Soyang River to Mount Seorak, East Coast and Sogeumgang and gained confidence that the plan would work as Sokcho, Mookho and Jumunjin ports on the eastern coast provided the infrastructure required to support such a project.

Although the project might have sounded too large for a young man in his early 20s, Kim made his proposal to the government, parts of which were accepted and resulted in the construction of the Jumunjin bypass road and an early opening of the road that connects the Buddhist temple Woljeongsa to the Sogeumgang.

Strategy-oriented business plans
Kim's decision to establish a construction company was based on the reasoning that buildings formed the basis of the tourism industry. The rationale of his decision was further supported by the fact that the construction industry required a small initial capital because construction contracts could be used as collateral to secure business loans.

Kim planned to build up capital through the construction business to fund development projects for leisure facilities. From there, he expected to establish a transportation company to transport tourists to the facilities and a mutual credit union to help people fund vacations.

Establishing Miryung Construction in 1969 was Kim's first step in a carefully laid out plan to run tourism businesses in the future. He envisioned subsequently establishing Dongbu Tourism, Dongbu Express and the Dongbu Mutual Credit Union in the early 1970s. Despite young Kim's careful planning to build a total leisure facility, unforeseen circumstances forced him to abandon his vision. The plan, which included the construction of a Disneyland in Korea as its centerpiece, was severely impacted when the U.S. theme park decided to build its tourist attraction in nearby Tokyo.

Founding Miryung Construction
On January 24 1969, at the age of 24, Kim founded Miryung Construction Co., Ltd. (present day Dongbu Corporation) with only two employees. By naming the company Miryung, which means "beautiful rising," Chairman Kim expressed his ideal to establish an "Excellent Company" in Korea.

Motivation to build an "Excellent Company"
During the 1950s and the 60s, when the very concept of a public company was unfamiliar in Korea, Kim was exposed to the misdeeds of Korean businessmen and their companies. Such flagrant misdeeds included the withholding of wages when companies faced financial difficulties, causing undue stress to dedicated employees and their families. Many business owners at that time treated company funds as personal wealth and put them to personal use. What's more, such practices were accepted by the society as the norm. Having observed such practices with criticism, Chairman Kim formed his resolve to set a new paradigm for the country's business community - namely to build an "Excellent Company."

Looking back at those corporate misdeeds, he reflected on the thoughts that raced through his mind then: "When I am running my own company, I will never stoop to such levels. No matter what hardship assails the company, I will make sure wages are paid on time. I will set a clear distinction between myself and the organization in running the company and I will set the foremost example in such matters."

True to his word, Chairman Kim has never delayed or withheld wages nor has he strayed from his vow to keep personal matters separate from the company. In short, Chairman Kim's founding aim of building an "Excellent Company" was formed around his resolve to pay wages on time and keep personal matters private while bringing to market worthwhile products and services that would contribute positively to his country's economy.

1) Corporate Ideal

Chairman Kim expresses his corporate ideal as follows: "A company should contribute to the betterment of the country and society."

2) Management philosophy

Chairman Kim's management philosophy calls for "a company to operate with an entrepreneurial spirit as its executives strive for growth and development."

3) Entrepreneurial spirit

Determined to establish and run a business that would contribute positively to Korea's economic growth, Kim founded Miryung Construction in 1969 when he was in his early 20s. During the oil shock in the early 1970s, when the country was facing extreme difficulties, Kim led his young venture into the Middle East construction market. Having determined that in order for his country's economy to grow, basic industries must be developed first, Kim invested the funds raised from Middle East construction projects into the steel and metal, chemical, semiconductor, construction and logistics, and finance industries.

To this day, the company continues to make heavy investments into businesses that contribute positively to the economic growth of Korea. Recent investments to develop robotics, advanced non-memory semiconductors and agriculturally oriented biotechnology products promise to help drive Dongbu Group's continued growth.

Commenting on his strong belief in the entrepreneurial spirit, Chairman Kim offered these reflections: "Of course failure should be avoided, but a part of me has always been open to failure. That is, if a certain business is required for the good of the country, I will undertake that venture whatever the risk is. Even if I fail, as long as others can pick up where I have failed and succeed, then I will take satisfaction in my role as the pioneer."