‘I want to take some rickshaws home’

With two stints spanning six-odd years in Pune, Ki Young Kong, Managing Director of Hyundai Construction Equipment India (HCE), a subsidiary of Korean giant Hyundai Heavy Industries Co Ltd, is far from being new to India.

The affable Korean says he loves everything Indian, finds life here stress-free and has “thora, thora” knowledge of Hindi. He admits, though, that doing business in this market is a different ballgame.

Kong’s association with India began when he oversaw the setting up of HCE’s facility in India in the capacity of a project manager. He returned to the Korean mother plant only to come back as head of the company’s Indian operations. The company currently makes a range of excavators at its Greenfield plant in Chakan, which went on-stream in 2009. Going forward, it plans to make backhoe loaders, wheel loaders and forklifts, as well.

Speaking to Business Line on work and life in India, Kong, who has also spent seven years with Hyundai in the US, smiles and says: “We have paid tuition fee to learn (in India).” Excerpts from the interview:

How do you compare life here with life in Korea or the US? Do day-to-day problems like bad traffic and inadequate infrastructure bother you?

Personal life in India is less stressful and more relaxed than in the US or even Korea, where it is very fast-paced. The people here are warm and welcoming. We have many Indian friends, and my wife, too, is very happy to stay here.

Infrastructure and traffic...??? In the beginning I was impatient and found these areas very inconvenient. Now, it doesn’t worry me; I have started enjoying life, and I feel better mentally.

How is the environment for your business? What challenges do you face?

Two-three years ago, the market for our products (excavators) stood at 14,000 units a year. Because of the slowdown, it shrank to 11,000 units last year and is expected to remain flat this year. The major challenge comes from the competition. All the major competitors are here because of the potential, and are (now) fighting for space in a shrinking market. The working environment is tough, mainly because the excavators are used in soil, coal and even in marble and stone quarrying, which is the toughest application in the world. So, the machine has to be strong. If it can do well in these conditions, I believe, it can do well anywhere in the world. We are working on building special machines for this market, of which we had little knowledge earlier. We have paid tuition fee for learning! From a 0 per cent share in 2009, our share in the Indian excavator market is now at 18 per cent.

How do you see the work culture?

In India, human resource management is very critical because the younger generation is not staying in one job. Look at me, my first job was Hyundai, and the last will be Hyundai. Companies need to pay a lot of attention to how to retain employees. At my company, attrition was earlier at 15 per cent. Last year, it was 8 per cent. While salary is an important factor, building a bond with employees and giving them freedom to execute work are equally important.

What do you like about India? And what do you dislike?

I like Indian traditions, and in fact, there are many similarities between Korea and India in traditions, culture and food.

We respect elders and are also very family-oriented. I am the youngest of six siblings — both my parents also come from large families — and we love having family get-togethers. I love the cuisine, which I had tasted even before I came here. And as Korean food is spicy, I can handle Indian spices! My wife — she loves to wear a sari occasionally — and I will miss the way we can take a stroll every evening where we live in Pune. In Korea, people live in high rises, and the population density is very high.

What do I dislike?

(His brow furrows as he thinks for a minute) Nothing really! Maybe the service culture.....like, if I call a TV repairman, he never comes at the time he says he will (laughs).

Do you follow Indian politics?

I follow politics very keenly and I have a preference for one party, but I don’t want to reveal it. We are looking for better policies and more infrastructure development projects, and we hope that a stable government can provide these.

What would you like to take back from India when you leave?

(Grins) I want to buy some rickshaws and do business in Korea (there aren’t any there). Maybe set up a city tour in the Indian ‘open car’! Also Indian wines: I love them.

This is part of a series on expat CEOs working in India.

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