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Interpreting the Chinese complex of a Korean CEO

interpreting the Chinese complex of a Korean CEO

information on Chinese construction machinery

Guide: elegant, frank, with a handsome appearance and good communication skills. When talking, he speaks fluent Chinese and likes to look directly at you with his eyes. In his 60s, he has never seen anyone with such clear eyes. From South Korea to beautiful China

elegant, frank, with a handsome appearance and good communication skills. When talking, he speaks fluent Chinese and likes to look directly at you with his eyes - in his 60s, he has never seen anyone with such clear eyes

from South Korea to beautiful China, from the beautiful Yantai Mountain to the picturesque Gulangyu, from taking charge of Daewoo Heavy Industry to parachuting Xiamen Construction machinery, Cai kuiquan, the South Korean CEO with a strong Chinese complex, with his extraordinary courage, far-sighted strategic decisions and business policies, has written a legend of China and South Korea in the field of green and environmentally friendly construction machinery with the packaging industry

in charge of Daewoo

CAI kuiquan was born in South Korea in October 1949 and graduated from the school of engineering machinery, Seoul University in 1973. Three years later, Cai kuiquan said goodbye to his dull teaching career and joined Daewoo Heavy Industry Co., Ltd., mainly responsible for the overseas market development of Daewoo Heavy Industry. He has been resident in Japan twice for 6 years, expanding the sales of Daewoo products in Japan; In order to achieve the maximum comprehensive performance, he has been resident in the United States for 7 years and has successfully established an agent network throughout the United States. However, what really made him famous in the construction machinery industry was the legend of Daewoo excavator

Daewoo Heavy Industry (Yantai) Co., Ltd., established in 1994, has suffered losses for years since it was completed and put into operation. In 1998, the "defense rate: 0.001mm" of Korea Daewoo Machinery Co., Ltd. refers to that it can show its number by taking mm as the unit, up to the third digit after the decimal point, and the fourth digit after the decimal point cannot show its performance. The headquarters of Daewoo Machinery Co., Ltd. sent Cai kuiquan, an "overseas development expert", to diagnose: is there a chance for Daewoo excavator to turn the tables in China? If you continue to lose money, will you just shut down

as a result, it took Cai kuiquan only a year and a half to make Daewoo excavator surpass Hitachi, Komatsu, caterpillar and other international giants that first entered the Chinese market, ascend to the throne of the first market share in China, and achieve this success for many consecutive years. Obviously, this development speed exceeded everyone's expectations, and CAI kuiquan also won the reputation of "a legend who leads the development of construction machinery in China and South Korea"

"we are" catching up from behind ", that is to say, the last one who came in took the lead." Cai Kui explained the meaning of "catching up from behind" - this is probably his favorite Chinese idiom

then, how did Daewoo excavator beat international giants such as Caterpillar, Komatsu and Hitachi to take the first place in China's excavator market

from January to May 1998, only 43 Daewoo excavators were sold; On June 1, Cai kuiquan came to China and took office. At that time, what was in front of him was: the market capacity was small, the brand awareness leveraged namely loading system was almost zero, and the agent system had not been established... Therefore, in the first three months, Cai kuiquan traveled all over China: Northeast China, Xinjiang, Inner Mongolia, Guangdong... To visit customers one by one

Cai kuiquan recalled the scene at that time and said, "I asked users: what do you think of Daewoo excavator? They were stunned: what is Daewoo excavator? Haven't heard of it (laughter)." After running for three months, he analyzed the basic situation of the customer market: first, at that time, it cost 700000 yuan to buy a new excavator, while the average customer had only 200000 or 300000 yuan, so they could only buy imported second-hand excavators in Guangdong; Second, at that time, all excavators were purchased in cash, and no cash was given to excavators, so at that time, state-owned enterprises were mainly buying new excavators, and only they could afford 100% cash

then, Cai kuiquan had a very good idea: OK! You give me 300000 yuan, I give you a new machine, and you pay me after you make money. The method adopted is the down payment of 20%, and the remaining 80% is one-year equal payment. But at that time, there was no financial leasing and no bank participation. Cai kuiquan set up a bond department in Daewoo to manage and take risks by himself

"at that time, the president of Daewoo Heavy Industries of South Korea came to China and asked me: how many brains do you have? He meant: it's a big risk to do this. In case of problems, the company can't protect you. Can you afford it?" Cai kuiquan held his index finger against his temple, laughing and recalling, "I said: we must do this, otherwise, the company will collapse!"

"at this time, caterpillar, Komatsu, Hitachi and many other colleagues were stunned, and they thought: Daewoo is crazy! See what happens to it!" Cai kuiquan said that in fact, installment payments or financial leasing were being done in Europe, America and South Korea, but at that time, the Chinese people were relatively unfamiliar with the word "credit", not to mention the construction of the credit system, so we didn't dare to take this set of things to China

but facts proved that CAI was right. This "rash" move not only made Daewoo excavator famous and its sales soared, but also led to the reform of China's excavator industry. At the same time, Cai kuiquan also successfully established the agent system of Daewoo excavator in China. So far, Daewoo excavator turned the tables and won the first market share for several consecutive years. Cai kuiquan also established his position in the excavator industry

in April, 2005, Daewoo Heavy Industry was officially acquired by Doosan machinery; Six months later, Cai kuiquan left the cradle of his career and came to Terex as president of China. "Daewoo (Yantai) has only one excavator product, but Terex has 58! More than $10billion in revenue!" Cai kuiquan originally wanted to use his previous experience to show his strength on this larger stage. However, a few months later, he left sadly for the reason of "not being an outsider"

after that, in more than three years, Cai kuiquan seemed to disappear from the Jianghu where he had fought all his life. During this period, many talents at home and abroad came to invite him to "go out", but he declined them politely

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