[CEO Letter] Great Goals Make Great Outcome

2016. 7. 22. 09:03

Dear Hyosung family members, hello!

Last month, as Brexit was realized through the British referendum, world economy fluctuated in a large scale. As the stock market shows big drops and the money exchange rate changes rapidly over the world including US and Japan, as well as in Europe, the negative atmosphere is severe and the future prospect is also quite unclear. We will have to watch closely what changes occur and collect all the wisdom and efforts so that our company will be able to win through this tough time. 

Today, I will begin with a story of history.

When the Korean War broke out in 1950, Korea not prepared at all in defense lost its capital city Seoul only in 3 days and faced the big crisis of having to retreat to Nakdong River. The UN Forces was determined to enter the War in hurry but the outcome of the war seemed to be already fixed.

At that time, General MacCarthur Commander-in-Chief of the UN Forces concluded that putting troops into the Nakdong River line alone could not overcome the inferiority. So, he turned the tide of the war at a stroke by making a surprise landing in Incheon, at the center of the enemy camp, and on the contrary drove the North Korean forces to the corner. The Incheon Landing by General MacCarthur may be called a representative example of ‘Moonshot thinking’.

‘Moonshot thinking’ refers to setting up a high goal seemingly difficult to accomplish and making not improvements but innovations to accomplish it. If trying to improve performance of a telescope for the purpose of observing the Moon better is an ordinary method, making an exploration spaceship and going to the Moon is innovation.  

When 10% higher outcome is targeted, we often think that the target may be accomplished if we slightly change our usual method and try slightly harder.

However, if growth by 10 times is targeted, neither 'usual method' nor 'slightly changing' cannot work. Even 'trying a little harder' is impossible. We have to have a revolutionary idea intended to change market-dominion and overturn the aspect of competition. To accomplish such goals, we have to throw away the methods and fixed ideas we have had so far and create innovative methods just as if we start again from the scratch.  

The US company Tesla famous for its electric vehicles is recently accelerating development of 'Hyperloop'. To enter the existing bullet train market, Tesla proposed a super bullet train called 'hyperloop' instead of developing a little faster trains like others. Hyperloop refers to moving trains inside the vacuum tube by using solar power and is expected to have the stunning speed of traversing from Seoul to Busan only in 16 minutes. Furthermore, as the construction cost is only 1/10 level of the conventional bullet trains, not only USA and Russia but also Korea is seriously considering of its introduction. If we show such innovative ideas and behaviors as this others have not attempted, we can create 'blue ocean' by ourselves and make great outcome.  

Already, this year has passed the half. As the business environment is getting tougher, it is time for us to examine how much we have accomplished the goals we set up for this year. If we are satisfied with the present because we are making outcome to some extent or make downward adjustments of the goals because our outcome is not good enough, we cannot develop.

Let's set up bold goals by containing the ideals we are dreaming of and our will to do something great, and make challenges by finding innovative methods. I anticipate all of Hyosung family members to show active attitude. Thank you!

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