Early Life
Chang Pyung-soon was born in 1951 in Dangjin, South Korea. Growing up in poverty, he learned the value of education early on. His parents worked in Incheon, leaving him in the care of his grandparents. This challenging upbringing instilled in him a strong desire to succeed and escape the cycle of poverty, which motivated him to excel in his studies.
Rise to Success
After graduating from Incheon High School, Chang initially aimed for a career in civil service but was unsuccessful in the administrative examination. Undeterred, he found success as a cabbage salesman, discovering a natural talent for sales. In 1985, he founded the Central Education Research Institute, which later evolved into the Kyowon Group. The company's initial focus was on selling educational books, but under Chang's leadership, it rapidly expanded and became a dominant force in the educational materials market. The company's success was further propelled by adapting and localizing the Kumon program.
Key Business Strategies
Chang Pyung-soon's business acumen is evident in Kyowon Group's strategic diversification. He expanded the company's offerings to include travel programs, leisure activities, hotels, and health foods, catering to a growing middle class with a taste for experiential leisure. He emphasized the importance of learning beyond the classroom. This expansion demonstrated his ability to identify and capitalize on emerging market trends. He has expanded the business by purchasing real estate and building hotels. His company also provides "lifestyle" products, including water purifiers and Oriental herb-based cosmetics.
Philanthropy
While specific monetary amounts for his philanthropy are not readily available, Chang Pyung-soon's commitment to education and community development is evident through Kyowon Group's various initiatives. His contributions extend beyond business, reflecting a desire to give back and support the communities that have contributed to his success.
