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The 50s, it was a time when the market was weak and the government lacked capital. There were very few entrepreneurs interested in the business of automobiles, and the nation had no way of gathering the necessary technologies. A few engineers and businessmen gathered to assemble copies of the U.S. jeeps. Most of the parts came from de-commissioned military vehicles. It was not a very convenient environment for the start of a boom.

In the early 70s, the government made a very risky decision. It decided to promote and develop the automotive industry as a key currency earner for the nation. We have to keep in mind that first, there was no modern industry in Korea until the 60s. And second, there was no automotive industry in Korea at all. Some of you may not believe the fact that Korea was known as a producer of cheap garments, toys and wings. The country has definately come a long way.