Kim Woo-Choong (1936–2019) was a South Korean businessman, founder, and chairman of Daewoo Group, once among South Korea’s largest conglomerates before its 1999 collapse. His entrepreneurial vision and aggressive expansion shaped the nation’s industrial growth.
Born in Daegu, Korea, Kim studied economics at Yonsei University, graduating in 1960. He founded Daewoo Group (1967) as a textile trading company before expanding into automobiles, shipbuilding, electronics, and finance. By the 1990s, Daewoo operated in over 100 countries.
The 1997 Asian Financial Crisis exposed Daewoo’s financial instability, leading to bankruptcy (1999.) Kim fled South Korea but later returned, facing fraud and embezzlement charges. Sentenced to 10 years in prison (2006,) he was pardoned in 2007.
Kim authored Every Street Is Paved with Gold (1992,) sharing his business philosophy, and The World Is Wide and There Is Much to Be Done (1989,) a bestseller inspiring young entrepreneurs.
More: Wikipedia • READ: Works by Kim Woo-Choong
People who come up with “It may not work” or “What are we going to do if it fails?” do not have the credentials to be businessmen. If there is only a 1 percent chance of success, a true businessperson sees that 1 percent as the spark to light a fire.
—Kim Woo-Choong
Topics: Chance
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