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#117 : Chung Ju-yung founder of Hyundai (the most inspiring autobiography I've read)

Founders

NOTE

Maintaining Control

Amid facing unequal joint ventures and attempts by companies like Ford to exploit their technical agreements, the speaker emphasized the crucial importance of maintaining control. This realization led to a strategic decision to build cars with Korean-made parts, highlighting the necessity of retaining control over crucial aspects of the business. Despite the initial challenges in sourcing certain components from other countries, the fundamental lesson learned was the need to maintain control over key aspects of production and partnerships to avoid being exploited or relegated to a mere subcontractor.

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