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The Republic of Korea surprised the world with its remarkable postwar economic growth, often referred to as the Miracle on the Han River. Two major figures in the country`s economic development were Lee Byung-Chul, the late founder of the Samsung Group, and Chung Ju-Yung, the late founder of the Hyundai Group. Samsung Group is a leading global company today. Founding Chairman Lee Byung-Chul intended to contribute to the advancement of the country through his business. His basic motto and business philosophy was contribution through business. Following national liberation, he established companies in food processing and textiles, industries that served common, everyday needs. In the 1970s, he shifted focus to heavy and chemical industry and led the expansion of the national economy in the 1980s through the semiconductor industry. Chairman Lee was especially known for investing heavily in human resources in every respect. Stating A company is its people, he emphasized that the primary determinants of the viability of a company were selecting and training competent human resources. That very philosophy became the basis for Samsung’s growth as the top global company it is today. Born to a poor peasant farmer, Chairman Chung Ju-Yung rose to found the Hyundai Group. He became a well-known self-made man who built his fortune with his bare hands. Often remarking There can be hardship but no failure, Chung, with his indomitable spirit, boldly charged into new industries, even in the face of widespread opposition and skepticism, and ultimately realized success. In the 1960s and 70s, the Hyundai Group rapidly expanded by entering into highway and dam building, construction in the Middle East, and ship-building. Hyundai’s active pursuit of automobile manufacturing particularly contributed to Korea’s standing today as a leading automobile exporter. Chairman Chung’s bold pioneering spirit for business clearly opened a new chapter in Korea’s economic history. These two business leaders had different business philosophies and achievements. However, their courage to take on new challenges and their ability to find hope in the face of crises are virtues we should acquire for the sake of our future.