Dr. Peter Chung, Primacorp Ventures, Faith & Entrepreneurial Journey (Part II)


Part I

Peter Chung 23Dr. Richard (Rick) J. Goossen, Chairman, ELO Network, on March 22, 2023, interviewed Dr. Peter Chung who will be speaking at this year’s ELO Forum in Vancouver on November 15 at the Paradox Hotel. Dr. Chung (Korean name: Moon Hyun) is a Korean-American entrepreneur and philanthropist based in Vancouver, BC., who serves as Chief Executive Officer and Chairman of Primacorp Ventures, a large private conglomerate that is active in five divisions including education, real estate, and senior living facilities. Primacorp Ventures has invested in schools that have grown to become Canada’s largest independent provider of private post-secondary education. 


RG – What lessons have you learned in business?

PC - First, I think that you need to examine your own perspective as it is thanks to God that you have the ability to make money. To me, you need to be set up for a purpose beyond making money. You need to ask yourself why you want to make money.

If you say well, I just want a good life and have enough money to pay for my new car or whatever then you need to look at it against God’s word and say, hey, is this what God wants me to do?

Although God gives Christians the ability to make money, I am not saying that non-Christians don't make any money. Of course, many non-Christians make tons of money. 

But from a Christian point of view, you need to have the right heart to begin with. And then you need to ask for wisdom from the Lord. As noted in James 1:5: "If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you."

And I think once you have that type of basis to begin with then you need to look and see what you're good at. Everybody has different talents. And the talents that I don't have, a lot of people are good at.

And then try to work with your strengths and weaknesses. To me, if you try to work with your weaknesses, it's an uphill battle, and that means, to me, that it's not your talent.

In my case, I didn't really plan to create a business. People helped me in my journey. I can confidently say that there are a lot of smart people out there who make tons of money.

I look at myself and I go, those guys are too smart for me. So, I look at God and ask Lord, why are you using a guy like me? I'm not worthy of it, but God has chosen me to do this. I am grateful. 

So I look at my life, I'm almost 70 years old now. And I can truly say I look back and I realize that it's not that I was a great planner. It's not that I was a great strategist. God just brought me opportunities and I executed  on them. I made mistakes here and there, but when I look back, I see why God gave me tests and the trials. I see why God at one time let me lose 95% of my wealth.

It makes sense to me. I look back and if I didn't go through those experiences I would have been so arrogant. 


RG – What are the faith lessons you have learned? 

PC - First, humility in the sight of the Lord. God says in 1 Samuel 16: 7: "But the Lord said to Samuel, 'Do not consider his appearance or his height, for I have rejected him.' The Lord does not look at the things people look at. People look at the outward appearance, but the Lord looks at the heart.

Man looks at the outside appearances. But God looks at the heart. You and God only know what you're thinking. And then what your heart is saying. So to me, you have to be honest with God. We have to be very humble in the sight of the Lord. If you're not humble, He cannot use you. Period. So to me, that's the biggest lesson from my point of view.

Second, you need to know what you want to do with your money. And then God gives you that.

I always look at 1 Timothy Chapter 6: 17-19: "Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share.  In this way they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life." 

It says command those who are rich in this present world. The first thing he says is not to be arrogant nor to put their hope in wealth which is so uncertain. 

And in my case, that's so true. Money comes and goes and is so uncertain. But instead put your hope in God, who richly provides us with everything for our pleasure, for our enjoyment.

We need to do good. To be rich in good deeds and be generous and willing to share. In this way, we will lay up treasure for ourselves as a firm foundation for the coming age. So that we may take hold of the life that is truly life.

And lately, I've been really meditating on these verses. It's so true. 

To read Dr. Peter Chung's full bio, click HERE

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