About Vehbi Koç

Born in Ankara in 1901, Vehbi Koç attended Ankara Idadisi and entered business life in 1917. In 1926, he took over his father's business and registered it with the Ankara Chamber of Commerce as 'Koçzade Ahmet Vehbi.' While engaged in trade, he also expanded his business by acquiring the Turkish representation of foreign companies such as Ford and Standard Oil, and later entered the contracting business. In 1938, he took the first step toward institutionalization by founding Koç Ticaret A.Ş. in Istanbul. In 1948, he persuaded General Electric to invest in Turkey, leading to the establishment of a joint venture light bulb factory, which began production in 1952. Accepting philanthropy as a social duty, Koç initiated many social projects, including the Vehbi Koç Student Dormitory (1946), Ankara University Medical Faculty Eye Bank (1963), Istanbul University Medical Faculty Cardiology Institute (1964), Turkish Education Foundation (1967), and METU Vehbi Koç Student Dormitory (1968). In the 1950s, Koç made significant strides in industry, investing in domestic manufacturing to substitute for imports. He established local production in many sectors, including automotive, white goods, radiators, durable consumer goods, electronics, textiles, matches, and more. Today, Arçelik (founded in 1955) and Türk Demir Döküm (1954) are among the largest private industrial companies in Turkey. Otosan, the first Turkish automotive company, began production in 1959, followed by Aygaz in 1962 and many other industrial enterprises. As the number of industrial companies grew, Vehbi Koç, believing that private enterprises could only survive through institutionalization, founded Turkey's first holding company, Koç Holding, in 1963 to manage these companies centrally and allocate resources efficiently. After the holding was established, new companies continued to be founded, including the launch of Anadol, the first Turkish automobile, in 1966. In agriculture, Vehbi Koç aimed to invest and spent years researching opportunities, eventually founding TAT Tomato Paste Factory in 1967, pioneering the sector with a contract farming model focused on exports. In 1968, a major step was taken in Turkish automotive industry with the founding of Tofaş in partnership with FIAT. Tofaş began producing Murat-branded cars in 1971. Recognizing the importance of exports for the national economy early on, Vehbi Koç founded Ram, Turkey's first export capital company, in 1970. While delegating business operations to professional managers through the holding, he focused on social and foundation services. Inspired by a trip abroad in 1967, he led the establishment of the Turkish Education Foundation to direct wreath donations to education. In 1969, he founded the Vehbi Koç Foundation to operate in education, health, and culture, which has carried out many projects in these fields. In 1976, he donated the Atatürk Library in Taksim to the Istanbul Municipality. In the 1980s, he opened the Sadberk Hanım Museum in memory of his late wife, the first major private museum in Turkey. In 1987, the Vehbi Koç Foundation High School began education in a foreign language, and in 1993, Koç University was established. In 1984, he retired to focus more on social activities. Recognizing the importance of population and family health, he founded the Turkish Family Health and Planning Foundation in 1985 and served as its president until his death. In 1987, the International Chamber of Commerce named Vehbi Koç Businessman of the Year, with the award presented by Indian Prime Minister Gandhi in New Delhi. In 1994, the United Nations honored the Turkish Family Health and Planning Foundation and its president for their achievements, with the World Population Planning Award presented to Vehbi Koç by Boutros Boutros-Ghali. Despite his busy life, Vehbi Koç also wrote books to pass on his experiences to future generations, publishing 'My Life Story' in 1973 and 'My Memories, Views, and Advice' in 1987, both translated into English. In his 'Goals and Principles Document' published for his companies, he described his own constitution as follows: 'My constitution is this: As long as my state and country exist, so do I. If there is democracy, we all exist. We must do our utmost to strengthen our country's economy. As our economy strengthens, democracy becomes more established, and our reputation in the world increases.' Vehbi Koç lived a full 95 years, filled with industry, trade, international partnerships, foundations, social services, and education. In 95 years, he created more than 100 companies, $13 billion in turnover, about 40,000 direct employees, and nearly $900 million in exports. He built an organization that invested $500-600 million annually. He is a businessman who should be taken as an example in industrialization, institutionalization, professional management, and in education, health, and social services through foundations.