From 'Ocean-Going Fishing Vessel Trainee' to 'Group Leader'
A message of dreams and passion from Kim Jae-cheol, founder of Dongwon Group and Korea Investment Holdings.
“The only way to avoid the waves is to face them.”

Here is a man.
The family was poor and there were many family members.
Instead of Seoul National University, he entered the Fisheries College and risked his life to earn money by boarding a deep-sea fishing boat.
Life on the sea was a series of crises, with death always a possibility.
He asked himself the same question each time.
'How will I live from now on?' I thought.
'If I were not careful, I would have been swept away by the waves and died, but with this extra life, I will live it proudly and uprightly.
'It's about living without being shabby.' It wasn't just in the silk sea.
His life was always a series of crises.
Since then, I have started a business and run a company, and it is no exaggeration to say that I have lived a life of 'hell under a sheet of iron'.
In every moment of failure, in every moment of giving up, in every moment of crisis, he remembered the resolution he had made on the sea.
The three keywords that have supported him so far are ‘challenge,’ ‘passion,’ and ‘curiosity.’


“Looking back, my life wasn’t that complicated.
It started with curiosity, and as I continued to practice, explore, and practice, the challenge gave birth to another challenge, which then became a habit.
Others called that habit passion.” - Page 23

The protagonist of this story is Dongwon Group? Kim Jae-cheol, founder and honorary chairman of Korea Investment Holdings.
From his beginnings as an unpaid trainee navigator on an ocean-going fishing vessel to becoming the group's CEO, his life has been one of challenge and response.
Above all, what makes his challenge special is its ‘sustainability.’
He quickly adapted his approach and attitude to the changing environment, which was rapidly changing day by day.

“Dongwon has diversified its portfolio, and is currently engaged in businesses such as logistics container terminals, livestock farming, home meal replacements, and even secondary battery materials and components, in addition to deep-sea fishing and seafood processing.
In particular, packaging materials are a field in which Dongwon holds the number one market share.
Korea Investment & Securities is also firmly established in the securities industry, a completely different industry.
Based on our own definition of "business as an environmentally adaptive business," we are trying and challenging whatever is needed in the new era.
Our goal is to have a dynamic portfolio that can grow in any situation.” (Page 75)

He constantly challenges himself, but never takes on the same challenge twice.
Thus, his challenge continues, even now, at the age of ninety, through himself and the companies he founded, to secure 'sustainability', the most important value and virtue not only in 21st-century management but also in society and life.
As an individual and as a manager, he has always walked the path of a 'Dreamer' who dreams of challenges, takes action, and ultimately achieves them.

“‘Why did you choose the easy path instead of the difficult path at every important moment in life?’ I’ve been asked this question for a long time.
It must have been questionable enough for others to see.
It is clear that neither going on to higher education nor getting a job was a normal choice.
Whenever people ask me, my answer is always the same.
'It's not that I only chose the difficult path, but I didn't have the strength to take the easy path.' There were already many smart and well-off people on the easy path.
I judged that it would be difficult to enter that path, and even if I managed to get in, it would be difficult to try something new, and it would be even more difficult to stand out.
That was the reality.
So I lived my life thinking that if I went to places that others didn't go, I would be able to achieve something new.
You could say I found my own path.”_Page 105

After graduating from the Fisheries College, he was given the qualification of a second-class navigator, but he decided to give it up and board a ship as a trainee sailor.
This is because in the fishing industry, ‘practice’ is more important than ‘theory’ and ‘experience’ is more important than ‘degree’.
I also thought that I should grab the opportunity when it comes.
Opportunities, like fish that are difficult to catch, have the characteristic of popping out their heads for a moment and then disappearing quickly.
Perhaps if there was one thing that made me a little different from other people, it would be this.
If there was something I wanted to do or felt I had to do, I didn't hesitate and went ahead and did it.
--- p.37

If you hesitate even a little bit when making an important decision on board, you could end up in a life-or-death situation.
Having worked at sea for a long time, I was accustomed to quick judgment and execution.
My desire to learn and my second instinct, ingrained in me by the sea, ultimately led me to Harvard.
--- p.58

Looking back, it seems reasonable to interpret Korea Investment & Securities' success as a result of its challenges, given that it was the first time a fishing company acquired a securities firm, introduced a differential incentive system for a securities firm, and implemented debt-free management by a securities firm.
And one more thing to add here is that by properly recognizing and rewarding employees for their achievements, we provide them with a sense of accomplishment and motivation.
In 2017, a captain at Dongwon Industries received an annual salary of 1.27 billion won, nearly three times the salary of the CEO, setting a record for the fishing industry.
At the time, he revealed in an interview with the Chosun Ilbo, “If you work hard, even a new employee can earn an annual salary of 100 million won.”
The same goes for Korea Investment & Securities.
In 2018, a deputy manager who was in charge of the investment department made headlines by receiving the highest annual salary (approximately 2.2 billion won), beating not only the president but also the vice president, who is the owner.
This is why we are confident that Dongwon and Korea Investment & Securities are companies where employees can earn more than their bosses if they work hard and properly.
--- p.70

I have something to say to young people, especially those who want to start a business.
If it's something you really want to do after thinking about it deeply, you should try it.
However, before taking on a challenge, you must make a promise to yourself and others that you will boldly quit when you incur a certain amount of loss.
Even in a sword duel, sometimes the best strategy is to put down your sword and draw it.
What stands in the way is the attachment to what has already been invested.
Giving up is a very important skill and element in life, especially when it comes to business or investing.
(Omitted) The lesson we must not forget in life is that we must not fail to prepare, but we must set a limit to failure, and if it doesn't work out, we must give up quickly.
Failure that is beyond one's capacity to endure is difficult to find meaning in.
--- p.88

When a strong typhoon blows while sailing at sea, most people think that the sailors will see the waves.
But in my experience, that's wrong.
The sailors do not look at the waves, but at the captain's face.
As the ship enters the storm zone, the sky turns dark gray and mountains of waves crash in.
Sailors feel an overwhelming fear just from looking at the waves.
At this time, the sailors all look at the captain's face instead of the waves.
If we see confidence and composure in the captain's expression, I think we can unite and escape the storm by following the captain's instructions.
However, if the captain shows any signs of confusion or anxiety on his face, the crew's anxiety increases and the situation often becomes unmanageable.
In this way, leaders are in a very important position, having to take responsibility for all their subordinates.
Subordinates find their future in the figure of their leader.
They only trust and follow leaders who have the courage and confidence to remain calm even in the worst of situations.

--- p.151