Posted inNortheast Asia, South Korea

South Korea’s won – and everyone’s a millionaire

When Chung Ju-yung, the famed South Korean entrepreneur who founded the mighty Hyundai conglomerate, was seeking to enter the shipbuilding industry in the early 1970s, his sales pitch involved a 500 won banknote. If the would-be buyer suggested that South Koreans had no experience in shipbuilding, Chung would brandish his bill, insisting that Koreans had […]