This research analyses relationships between founder, Chung Ju yung's management values and HHI's organizational identity. Founder, Chung Ju yung thought of creative wisdom, positive thinking, unwavering drive as the very important management values. This research can see founder Chung Ju yung's inner characteristics in the perspective of organizational identity. This research divides into two research areas. First, this study focuses on founder, Chung Ju yung's effect on the formation in the early organizational identity. Second, I analyses organizational identity extension until recently after initial formation of organizational identity focusing on founder, Chung Ju yung's influence. Research results include identity ambiguity, environmental context, setting a clear vision, identity formation imperative, relatedness with tangible and intangible capital of the parent company (Hyundai Construction), and inflows of foreign capital and learning advanced technology that had been implemented to give meaning to organization. Initial identity formation of Hyundai Heavy Industries was a mutual process of sensegiving and sensemaking such as collective commitment to goal, trial and error, and symbols, achievements under the influence of Chung Ju yung founder. After the initial formation of organizational identity, as Chung Ju yung founder gave a new meaning to the organization, he continued to affect expansion of organizational identity. In the period of overcoming depression and in the period of maturity of high value-oriented, influencing factors included participating overseas construction projects, enhancing technical skills and productivity, special shipbuilding, non dock shipbuilding. This period emphasized the role of experience and emotion in the identity processes.