To answer the thread question would take one or two books because
Korea had to compete with Japan who dominated markets much earlier and made the task
very difficult:
(My Idea Of Discussion Points/Chapters):
1.) Post War Copying the Japanese Trading House system with ex Military discipline in personnel building gov't sanctioned Chabeols
combined with protectionism.
2.) Huge Push in Education while Making significant depreciations of Korean Won at turn-downs world economies
3.) Very Good Central Planning; putting together all the pieces.
4.) Read Fortune's article about Company ways. When light weight advanced steel became a strategic item, huge pressure was brought
to bear on Hyundai Steel with President of Hyundai Motors flying his jet helicopter as many as 5X per week over steel plant construction.
This takes tremendous government direction of their limited resources to accomplish goals. Leadership like John Krafcik and stretch goals
is very much part of success. ( I like it that Krafcik owns a Catterham in his garage).
5.) Huge capitalization has been part of Financial footings. Sometimes this has backfired but with geographically positioned
production in China/India/ & Iran for the new middle class and the Asia Demand, things have worked out (so far). I have studied buying Stock
but over-valuations by loyal Koreans have prevented me jumping in. The only auto stock I own is Honda.
( It is interesting that conquest sales are coming from 3 top Japanese firms foremostly Lexus Owners, and profile of wealth of typical Buyers is much higher than previously thought. I made this point on VTEC.NET almost a year ago and got closed out as a troll--see moans and groans commentary)