- Talent in business that was evident from childhood years
- Chairman Gyu-sam Hwang graduated from high school in 1943, which were the last days of Japanese colonial occupation of Korea. He was hired by a Japanese manufacturing firm in Seoul, and while on the job, came up with a way to re-use packaging boxes, surprising his Japanese boss. The boy, quick to be recognized as an entrepreneur by his boss, predicted that the automotive industry would later be a major industry, and started importing brake oil and engines from Japan after Korean liberation, starting off with a business dealing with automakers which was uncommon at that time. He later took a further step to produce the parts himself and established Poongsung Industrial in 1948. This young man armed with entrepreneurial talent and clear vision for the future is Gyu-Sam Hwang, the one who founded Poongsung at a time of dramatic change, which eventually led to Poongsung today.
- Endless efforts for excellence in technology and quality
- Chairman Gyu Sam Hwang firmly believed that the only way Poongsung, without an automaker parent company, could outperform its competitors is to offer better quality products. He emphasized “quality is the only way to survive brutal competition,” and invested heavily in development of new products and quality improvement. As his client list grew, chairman Hwang renamed the company in 1968 to Poongsung Electric and expanded his business to telecommunications, exchangers, and meters. Further, he entered into a technical partnership with the largest automotive parts manufacturer in one of the leading countries in the industry, establishing Poongsung as an automotive parts company and consequently becoming a leading company for automotive electronics in Korea.
