Hwang Ui-sang (55), the CEO of Inhwa, a plant specialized company in Indonesia, started the business in 1997 and cannot forget the first project he received. It was a finishing work at a water treatment construction site. The order amount is $500. I rented a truck and worked all day, and in the end it cost me $1,000.
“At the beginning, we got random orders, and after a few years of work, we got hundreds of thousands of dollars in construction.”
Huge underground resources in the world’s 4th most populous country (230 million people)… . In Indonesia, the land of opportunity, Inhwa is participating in resource development projects of global companies such as ExxonMobil and Chevron as a partner. Even when he graduated from college, Hwang’s future was uncertain. After challenging the civil service exam, he gave up and got a job at a small and medium-sized company with difficulty, and then built up his skills at the construction site. Three years later, he moved to a large company, but decided that he had no future and returned to his first job. The company, who believed in his sincerity, entrusted him with the role of field manager in Jakarta, Indonesia.
At that time, he only looked ahead and ran. One time, while staying overnight in an on-site container, a 12-month construction project was completed in 10 months. The previous record was 11 months. An opportunity came to Hwang in 1997. The headquarters, which failed to overcome the financial crisis, closed, and asked CEO Hwang to take over the Indonesian business.
Hwang, who took over the company, went through several hurdles and normalized the company. We thought we needed technology to grow our business, so we gathered the scattered technologies and know-how
With these intangible assets, he obtained a ‘B-7’ construction business license issued by an Indonesian government agency. The B-7 is a license that can perform both upstream and downstream operations of extracting oil or gas from the ground, and only 50 companies in Indonesia have it. Inhwa is the only Korean company that has entered the local market.
[Reporter Jeong Soon-woo / Photo = Reporter Ho-young Kim] [ⓒ Maeil Business News & mk.co.kr, unauthorized reproduction and redistribution prohibited]