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Jung-Hoon Jeongseok Cho’s Global Experience and Entrepreneurial Process: A Technology Entrepreneur in a Lately Developing Country

Seongwook Ha

Hansung University

Published: January 2018 · Vol. 22, No. 4 · pp. 1-26

DOI: https://doi.org/http://dx.doi.org/10.17287/kbr.2018.22.4.1

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Abstract

This study explores the relationship between technology entrepreneur's experience and entrepreneurial process in a lately developing country by analyzing the case of Jung-Hoon Cho, who is the founder of Hanjin Group. Among kinds of entrepreneur's experience, this study especially has focused on global experience of the technology entrepreneur because success of new venture usually depends on it, regardless of whether new venture has founded in a developed country or not. Prior studies have not identified founders of Korean conglomerates as technology entrepreneurs in a developing country. The results of case analyses are as followings. First, global experience of the founder, Jung-Hoon Cho, had hugh impacts on the entrepreneurial process of Hanjin. Through the global experience, he had accumulated skills and knowledge of engine technology, which were more competitive than local skills and knowledge in Korea. He also had internalized global orientation to be a early-adopter of newly-introduced business opportunities or global business opportunities. He had experienced various economic phenomena, such as hyper-inflation in war, and advanced management techniques, such as a demand-creating sales technique and a strict quality control. He had learned convergent mindset of integrating technology-oriented thinking and market-oriented thinking. Second, family backgrounds had impacts on the entrepreneurial process. Ironically he had become a founder of new venture in his early age because of the failure of his father's fabric store business. Third, his start-up experience had impacts on the entrepreneurial process. Prior experience facilitated recognition and implementation of business opportunities, in terms of seed money, human network, and procedural knowledge to make a firm officially and to build up organizations.
Keywords: 조중훈글로벌 경험창업과정후발개도국기술창업자