Kim Jaecheol Shares His Path of Challenge at Seoul National University
"Dreams and the Spirit of Challenge Are the Greatest Gifts to Youth"
"Listen Attentively to Overcome the Fear of Failure," Kim Advises Students
"It is difficult to take on challenges because of the fear of failure."
During a lecture given by Kim Jaecheol, Honorary Chairman of Dongwon Group, at the Central Library of Seoul National University in Gwanak-gu, Seoul, on the evening of the 4th, a student from Seoul National University voiced this concern. Kim's advice was concise. He said, "You can find a path by having conversations with people you respect," and added, "The starting point is to listen attentively."
At the publishing lecture for his recently released autobiography, "How to Overcome the Waves of Life," Kim met with about 150 students and faculty members and emphasized the importance of a challenging spirit. He pointed out that the younger generation today tends to be excessively realistic and only considers the probability of success. He stressed, "Historically, individuals and societies that do not take on challenges eventually decline," and added, "I hope this will be a time to ignite the spark of challenge in the hearts of students."
He also explained ways for students to take on challenges. When a male student asked him to share a business idea, he replied, "If you go to Argentina, you can buy land for one dollar per pyeong," and suggested, "What if you bought 10 million pyeong for 10 million dollars and started farming?" He went on to say, "Having wild dreams is a privilege of youth," and added, "Youth cannot be saved by holding back. Only by taking on challenges can you truly experience the essence of life."
Kim Jaecheol, Honorary Chairman of Dongwon Group, is answering students' questions during the lecture "How to Overcome the Waves of Life" held at the Central Library of Seoul National University in Gwanak-gu, Seoul, on the 4th.
In 1958, Kim Jaecheol staked his life on the sea by boarding the nation's first deep-sea fishing vessel as an unpaid apprentice navigator. After working as a navigator and captain, and later as an executive at a fisheries company, he started his own business in his 30s and founded Dongwon Industries in 1969, becoming a representative entrepreneur of the first generation of industrialization in Korea. He expanded his business from fisheries to food, packaging, logistics, and finance, laying the foundation for Dongwon Group and Korea Investment Holdings. Since stepping down from management in 2019, he has focused on fostering future industries.
During a conversation with Seoul National University President Yoo Honglim on the same day, Kim said, "The advice from my high school homeroom teacher to choose the path of challenge over the easy path had a great influence on me." He explained, "My experience in Harvard's Advanced Management Program became a turning point in business, leading to the launch of Dongwon Tuna Cans and the entry into the financial sector."
Kim Jaecheol is also deeply interested in nurturing talent and securing technology in the field of artificial intelligence (AI). Dongwon Industries donated 3 billion won to Hanyang University in 2019 to establish the 'AI Solution Center,' and Kim personally donated 54.4 billion won to KAIST. He emphasized, "Looking at the example of Japan, which missed the digital transformation, we can see how important it is to respond proactively in the AI era," and added, "Now is the opportunity for our country to leap forward as an AI powerhouse."
His conviction about education is also clear. He said, "The greatest resource of our country is ultimately its people," and emphasized, "Nurturing talent is not just an investment for myself, but for society as a whole." Dongwon Group built the 'Dongwon Dormitory' at Seoul National University in 1996 with a donation of 3 billion won, and over the past five years, has donated an additional 735 million won to the College of Liberal Studies scholarship fund at Seoul National University.
Kim Jaecheol, Honorary Chairman of Dongwon Group, is answering students' questions during the lecture "How to Overcome the Waves of Life" held at the Central Library of Seoul National University in Gwanak-gu, Seoul, on the 4th.
His philosophy that "management is learned not at the desk, but in the field" is also reflected in how he educates his family. His eldest son, Kim Namgoo, Chairman of Korea Investment Holdings, worked on a deep-sea fishing vessel during his university years, and his grandson, Kim Dongchan, is currently serving on a deep-sea fishing vessel as well. Kim Jaecheol said with a smile, "I told my grandson to endure, and he contacted me to say he is doing well."
At the end of the lecture, when asked, "If you could become an omnipotent god, what gift would you like to give to young people?" Kim Jaecheol answered without hesitation, "I would like to give them dreams and the spirit of challenge." He said, "My life has been a series of challenges," and urged, "I hope young people will not give up, but instead take on challenges tenaciously and courageously."
Meanwhile, the event was also attended by his eldest daughter, Kim Eunja, Vice Chairman of Dongwon Wine Plus; Lee Myungwoo, Vice Chairman of Dongwon Group; Cho Hongrae, Vice Chairman of Korea Investment Management; and Jeong Moonmok, CEO of Dongwon Home Food. Vice Chairman Kim Eunja has always attended official events with her father, Kim Jaecheol. Following the publication ceremony in April, she also attended the lecture on this day, sitting in the third row in front of the stage and listening attentively to Kim Jaecheol's remarks.
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