Chief executives of the “100 blue-chip companies” and industrial experts gathered in Seoul on Friday to discuss how to create unique Korean premium goods.
The companies committed to hatching top brand names organized a forum in February and held their second meeting to share management knowhow and seek collaboration.
Chief executives of outdoor clothing company Black Yak and bamboo salt maker Insanga Inc. gave presentations on their management experiences.
A Black Yak official speaks about the outdoor clothing company’s management case during a forum on creating unique premium goods Friday in Seoul. (Ministry of Knowledge Economy)
Despite repeated failures in the early stage of its overseas market entry, Black Yak has grown into a global brand name through continuing research and development and innovative designs.
Black Yak continued to invest up to 8 percent of its sales in R&D and developed the first seamless clothing for mountain climbing, the company’s CEO Kang Tae-seon said.
Insanga, which developed bamboo salt containing healthy minerals, is a pioneer in the market for salts.
Kim Yoon-se, CEO of Insanga, spoke about the 25-year-old venture firm’s R&D and how it raised public awareness of the importance of the quality of salt against the widespread belief that salt was bad for health.
Kim Joo-hyun, professor at Kookmin University, spoke about the management strategy of Japan’s machine tool manufacturer FANUC, which grabbed a global market share of 50 percent through providing customers with software, consulting services and engineer training programs in addition to machinery parts.
Park Seong-cheol, chairman of Shinwon Group and president of the forum, called for member firms’ efforts to make the forum a stepping stone for creating a “hallyu of premium goods” and promoting exchange across all industries.
By Kim So-hyun (firstname.lastname@example.org)