Search Results

Bokeun Kang: The People-Centered Growth Story of Zespri Korea's Managing Director "Do you know why there are no Korean CEOs at global companies? It's because they don't dream it." This single remark from an American English instructor shook Kang Bokeun, Managing Director of Zespri Korea. Starting as a sales rep in Busan, he achieved top performance for four consecutive years, experienced a painful failure at Nestlé within a year, and then spent seven years at Zespri growing a 100 billion won company into a 300 billion won enterprise. Now, he dreams of becoming the first Korean CEO of a global company. His path has been anything but ordinary. Though coming from sales, he obtained certifications in positive psychology and professional interviewing, and says, "If I weren't in sales, I'd want to be in HR." After becoming managing director, he prioritized restoring psychological safety in the organization over sales targets, and still runs a weekly "tea time" where employees share gratitude with one another. His management philosophy is simple yet powerful: "Company growth comes from individual growth." With this belief, he achieved 3x revenue growth over seven years. A leader who invests in people, leads by example in personal growth, and challenges himself daily toward bigger dreams. Discover the story of "people-centered growth" that Managing Director Kang Bokeun is proving real. Q. You achieved top performance for four consecutive years at Kellogg's Busan branch. How was that possible? If you trace the roots of diligence back, you'll find my father. He was a blue-collar worker who loved to drink, but in my entire life, I never once saw him wake up late the next day after drinking. That image somehow lodged itself in my subconscious. Thanks to that, I had perfect attendance for all 12 years from elementary through high school, and people around me often described me as "sincere" and "diligent." As those descriptions accumulated, diligence became part of my identity. So if you ask me how I define diligence, it's simple: having a sense of responsibility for what you're assigned and seeing it through to the end. In sales, there are times when you get brutally criticized for poor performance. Every time, I thought, "I need to be confident." When someone asks, "Why aren't you hitting your numbers?" you should be able to confidently say, "If anyone thinks they can do better than me, come and try." That confidence comes from being more certain about your role than anyone else, and that ultimately stems from diligence. Let me give you a specific example. When I was selling in Busan, my territory was western Gyeongnam—covering Gimhae, Changwon, and Masan. One day, I was making my rounds through Jinju and Changwon, and needed to hit a client in Gimhae last. Then it started pouring in Changwon. I had an appointment, but it was a situation where no one would blame me for not going. In fact, if I'd just called and said, "It's raining too hard, let's meet next time," they would've said, "No problem, get home safely." But I always went. Strangely enough, something good always happened when I went on those days. "Put in whatever orders you want today," or "You're short on your monthly target, right? Fill it here." After a couple of experiences like that, my choice at those decision points where I could slack off was always the same. Good results followed, and it helped my career, so there was no reason to hesitate. Those things accumulated into four consecutive years of top performance. Q. Your performance was strong—why did you leave? Right after graduating from college, I joined Kellogg's Busan branch. The first time I saw the head office sales director come down, I was shocked. He had a team of secretaries and sales support staff following him, everything was perfectly prepared—it looked incredible. I'd been there less than a year, but I thought, "If I'm going to work, I need to get at least to that level." But after working for 2-3 years, reality set in. No matter how well I performed at the Busan branch, there was a ceiling to reaching executive level or sales director. I thought I needed to go to the Seoul headquarters for more opportunities. As it happened, there was an opening for a Key Account Manager position at headquarters—a core role managing major retailers like E-Mart and Lotte Mart. I thought, "This is it," and applied. A few days later, the answer came back: "No." When I asked why, they said, "You're too young." This position required directly dealing with buyers from major retailers like E-Mart and Lotte Mart, and managing sales reps in their 40s. They judged that someone in their early 30s like me lacked the experience and age for it. In that moment, it became clear: "There's no more opportunity for me here." Without regret, I decided to switch jobs and moved to Reckitt Benckiser's Seoul headquarters. Reckitt Benckiser was a completely different world. At the Busan branch, I might see a headquarters sales executive once every three months, and briefly at that. At Seoul headquarters, I worked in the same office every day. I could see how he thought and made judgments, what questions he asked, how he led meetings and made decisions—I could learn all of it right beside him. That became decisive in my growth. Q. You left Nestlé after just one year. What happened? My experience at Nestlé remains the biggest failure of my career. At the time, the company atmosphere was such that when numbers weren't met, all responsibility fell on the sales team. "If you didn't hit your targets, the sales team needs to figure it out," "Somehow push more product"—that sort of thing. I thought that was unreasonable. So when trying something new, I made decisions and moved forward alone without consulting other departments. I pushed ahead with what the sales team wanted without coordinating with marketing, finance, and SCM team leaders. Naturally, it was hard to get cooperation. There was a defining incident. At the end of the month, marketing called. "The e-commerce manager couldn't sell our product in a client meeting—as sales director, what are you going to do about it?" I bristled and responded, "If our sales rep can't sell it, why don't you go try selling it yourself?" Looking back, it was the worst response. The company thought, "If numbers aren't met, sales must solve it no matter what," and I pushed back head-on saying, "That's unfair." Communication completely broke down, and cooperation even more so. I left the company after just over a year, taking responsibility for poor performance. I learned something important from this failure: In an organization, believing you're right alone isn't enough. No matter how justified your argument, if you can't move forward with other departments, you ultimately fail. I learned that painfully. This lesson became my greatest asset at Zespri. Q. What was the first thing you wanted to change at Zespri? The organization's mindset. At monthly meetings with distributors, I kept hearing the same thing: "Managing Director, there's no demand in the market." Every time, I felt frustrated. "Anyone can sell when the market is good. Our real role isn't selling kiwis where demand exists—it's creating that demand ourselves." Even now, if the same situation arises, I say the same thing: Demand isn't something you wait for, it's something you create. But to create demand, we needed to read the market quickly. When I first arrived, sales data only came in once a month. You can't respond to anything with month-old data. "Let's change to weekly." Pushback poured in. "Why are you increasing our workload?" I explained patiently: "Fresh fruit loses marketability in just a week. If we find out a month later, it's already too late. If we know this week what sizes sold or didn't sell last week, we can request supply adjustments from New Zealand headquarters, plan promotions with retailers, and create demand." About a year later, the response changed: "This method is much better." Now even weekly feels slow, so we're transitioning to daily. I went a step further. We started tracking sales by size. Again, "Why get that granular?" came the response, but this time persuasion was much easier. "If large sizes aren't selling, we can request New Zealand headquarters to switch to smaller sizes. Supplying what consumers want is the essence of demand creation." The important thing is that over 2-3 years, I proved these changes ultimately benefited not just my numbers but distributors, retailers, and headquarters alike. Actually, I have a principle called 'walk the talk.' It became even more strict after the Nestlé failure. "Only make promises you can keep." You see people around you who make promises easily and don't keep them, right? I tried not to be that person. As that principle accumulated, trust formed. Now when I propose something new, the first response is "Let's try it." Q. The results of your first employee engagement survey after becoming managing director are noteworthy. The organizational diagnosis results were shocking. It was the lowest score in several years, and psychological safety scores in particular had hit rock bottom. A similar pattern emerged in the team assimilation workshop I conducted right after assuming the role as the new leader. Employees were anxious. In that moment, I thought, "No matter what sales targets I set in this state, it's pointless." So I decided: Let's restore psychological safety before sales targets. I adopted something as a principle. Something the LEGO CEO said that really resonated with me: "I won't hold you accountable for poor performance. But I will hold you accountable for not asking for help." This was exactly why I failed at Nestlé. Performance can suffer because the market is tough and competition is fierce. There's a lot you can't control alone. But if you keep problems to yourself and don't ask other departments for help, that's a completely different issue. All it takes is going and saying, "Please help." Once walls start forming between departments, the team, the whole company, collapses. Everyone only looks after their own department, and meetings turn into fights about "Who messed up?" and "Whose responsibility is this?" I saw that scene often when I was in sales at other companies. Sales, marketing, SCM, and finance would always clash when they met. So I emphasized this point strongly. The moment I see signs of walls forming between departments, I immediately catch it and call those team leaders together. "If we continue like this, the organization is at risk," I tell them clearly. Then I create time to have genuinely honest conversations over lunch. It took time, but the culture changed. Now when we meet, we discuss solutions, not assign blame. Even when sales, marketing, SCM, and finance gather, very constructive dialogue flows. Once psychological safety was established, something amazing happened. Employees started fully unleashing their capabilities. They didn't shrink back from watching their backs, they freely shared new ideas, and when problems arose, they honestly communicated them. That ultimately led to double-digit growth. Q. You come from sales but seem particularly interested in HR. Is there a special reason? Aren't people everything? Looking back at my experience, the answer is clear. I'm the same person, yet sometimes I performed at 120-130% of my capacity, and other times only 70-80%. When I was doing things reluctantly or had zero motivation. What made the difference? Ultimately, it was the people around me. Whether I had someone who challenged me at the right time, supported me when needed, and boosted my motivation made all the difference. Here's what I realized: Going from 70% to 130% nearly doubles your performance. Think about this applied not just to me but to the entire team. Our company could go from 10 billion to 20 billion scale, or conversely shrink to 5 billion. That's why I observe people a lot, invest in them heavily, spare no support. I keep studying too. If someone asks, "If you weren't in sales, where would you want to go?" I used to say marketing, but now I say HR. I'm convinced that how HR designs the organization completely changes the entire company's performance. That's also why I studied positive psychology. I believe people's mindset and psychological state directly connect to company results. Actually, various research data backs this up. That's why I still run "Tea Time" every Wednesday—time to express gratitude to each other. I'm convinced these small things unconsciously affect the organization's overall performance. The professional interviewer certification came from a different kind of urgency. As I conducted more interviews, I grew increasingly anxious. Hiring the wrong person is really dangerous. Like the saying goes about bringing the wrong daughter-in-law into the family ruins it, one wrong employee can shake the entire organization. The problem was this: I felt I could evaluate functional aspects like sales or marketing capabilities, but how do you judge someone's attitude, growth desire, organizational fit? The more interviews I conducted, the more these fears grew: "Am I properly evaluating this person's real mindset?" "What if this person is an interview expert?" So I participated in a professional recruitment interviewer program. I systematically learned how to ask questions, how to gauge the real impact of achievements candidates describe, things like that. Jim Collins said in "Good to Great": "Get the right people on the bus, and you don't need to worry about where that bus is going." Hiring is that important, and going through that process gave me much more confidence in my judgment. Ultimately, the synergy of both certifications is clear. Using positive psychology to build a healthy organizational culture and ensure psychological safety, while simultaneously using professional interviewer capabilities to select the right people who fit that culture. When these two mesh and operate together, the organization becomes truly strong. Q. What's the most important criterion when making decisions? "What direction allows all stakeholders to grow together?" At the center of that, naturally, must be the consumer. That's the core criterion of my decision-making. I always think 10 years ahead. What will the kiwi market look like in 10 years? Right now, kiwi's market share in the total fruit market is only 2.5%. When that becomes 5%, then 10%, I think about what benefits everyone receives. What's important here is the intrinsic value of kiwis as fruit. The vitamin C in 100g of kiwi is much higher than 100g of tangerines or oranges. Even eating the same amount of fruit, eating kiwi makes you healthier and you catch fewer colds. So when we grow, it's not simply that Zespri makes more money. It means Korean people, people around the world, become healthier. That's our reason for existing. I share this perspective at every meeting. I always put our purpose on the first slide. Whatever decision we're making, we judge based on "Does this align with our purpose?" and "Does this benefit consumers, distributors, retailers, employees, and New Zealand headquarters?" If you only focus on short-term sales, there are many easy choices. Push more volume immediately, cut prices, reduce marketing costs, and this quarter's performance might look good. But I always ask: "Will this decision still be the right decision 10 years from now?" If it's a direction where all stakeholders can grow together long-term, I choose that path even if it's a bit difficult short-term. That's my decision-making criterion. Q. You doubled sales volume over 7 years, turning a 100 billion won company into roughly a 300 billion won company. What do you see as the secret? Ultimately, I think it's because our reason for existing was clear. Zespri isn't simply a company that sells kiwis. We're a company that makes people healthier. This clear purpose and the values that flow from it became the foundation of all decision-making, and that ultimately led to good growth. But there's something else I consider important here. The conviction that "company growth drives individual growth." So I constantly emphasize growth, and I challenge myself first. Specifically, I made a promise to employees: We'll hold 8 insight sessions per year. I book all 8 on the calendar at the start of the year, and each time I read a book and debrief it for employees. Recently we read books like 'Extraordinary Challenge' together. Why do this? I want to directly show them my efforts to grow. The message is "I'm also continuously learning. Let's grow together." Not just saying "grow" with words, but I believe showing my practice first naturally influences them. One-on-one meetings are the same. I don't just talk about performance or work—I always ask questions like: "What are you doing for self-development these days?" "What have you learned recently?" "What are you preparing for your next career goal?" These conversations have become habitual. Not just words—I've actually budgeted training costs separately. For each person to spend on their own growth. Some employees prepare for MBAs, others take digital marketing courses, still others receive leadership coaching. As these efforts accumulated, a 'growth mindset' took root across the organization. A culture emerged of continuously challenging yourself and trying to learn new things. As individuals grew, better services and products emerged, which in turn led to company growth. Ultimately, what we pursue as sustainable management is this: We have a clear purpose that our products actually make people healthier, and to realize that purpose, employees continuously grow. When these two mesh, a virtuous cycle naturally forms. Being able to grow a 100 billion won company into a 300 billion won one over 7 years—the answer ultimately lay here. Clearly knowing why we exist and everyone growing together toward that purpose. We directly proved that when individuals grow, organizations grow too. Q. You emphasize growth to employees—what self-development are you doing yourself? What I feel I lack most is communication ability. I felt it desperately watching my previous Zespri CEO. He was exceptionally skilled at communication. That impressed me so much that I would always read his emails out loud and try to follow his style. I set him as a role model and tried to learn. But my current boss (Asia-Pacific regional director) saw it differently. "BK, that's not what you're good at—why focus on that? You have your strengths, and he has his." But my thinking is a bit different. The essence of leadership is ultimately a game of how much you influence people around you and create change, right? Someone good at communication can move an organization with a 5-minute speech. But for me to create the same change, I need to prepare for an hour. That's clearly a deficiency. So I'm making various efforts to improve my communication ability. For example, I'm participating in a 5-year program at a place called "Health Humanities." It's a course where you graduate after reading 100 classics—I'm assigned to present and suffer through the preparation. Even if I don't finish the whole book, I at least go and sit, listen to professors' lectures, and learn while preparing presentations. Honestly, it's not easy each time. Every weekend morning I think, "Why am I doing this to myself?" but after finishing, I think, "I'm glad I did it." These are the efforts I'm making to become a better leader, a better communicator. Q. What's your next goal? When people ask, I say, "I want to become CEO of a global company." Actually, whether I become CEO or not isn't important. When I started as a sales rep, my career goal was sales director. I already exceeded that goal. But after achieving it, a strange emptiness came. I'd reached the summit I'd long dreamed of, but the view from there was more subdued than expected. Like I couldn't see the next mountain. So I set a new goal: "I'll become CEO of a global company." Whether it happens or not isn't really important. After setting that goal, that tension of challenging myself returned. There was a defining moment. I was taking English lessons, and one day the American instructor suddenly asked: "BK, do you know how many Korean CEOs of global companies there are?" "Well, probably not many." "Almost none. Why do you think that is? The Korean people I've seen living here over 10 years—they're really smart and incredibly hardworking. So why are there no global CEOs?" I couldn't answer. Then the teacher gave me the answer: "I think there's just one reason: They don't dream it. Why don't they dream that dream?" In that moment, I felt like I'd been hit in the head. This thought suddenly came: If 25 years ago when I started as a sales rep, I'd worked at Seoul headquarters instead of Busan? If the first person I saw wasn't a sales director but a global CEO of a foreign company? Maybe my life would be tracing a slightly different trajectory by now. The height of the first role model I saw ultimately determined the height of my dreams. If I'd dreamed of being Coca-Cola's CEO back then, while I'm satisfied with my life now, the shape would certainly be different. I realized then that the size of your dream creates the size of your life. So I think even now isn't too late, and when people ask, I proudly say, "I want to become CEO of a global company." If this materializes, the meaning goes beyond me personally. A Busan branch sales rep becoming CEO of a global company—that journey itself sends a powerful message to young Koreans. "Your starting point doesn't matter," "You can become a leader on the world stage even starting from the provinces." Proving that possibility—that's what I truly want.

The advancement of artificial intelligence (AI) is transforming every aspect of our lives, and marketing is no exception. At the HUNET CEO Forum "Foresight Korea 2025," LG U+ Executive Director Kim Tae-hoon delivered an insightful presentation on "AI Marketing New Trends 2025," exploring AI's impact on marketing and how businesses should prepare for the future. Let's examine the marketing trends of the AI era and how companies can strategically respond. AI: Knowing What Customers Want Before They Do AI and machine learning technologies are revolutionizing personalized marketing. The era of rule-based personalization is over. Advanced AI predictive modeling not only accurately understands customer needs but also predicts and suggests latent desires that customers themselves haven't yet recognized. "Most customers are unaware of their potential needs," explained Executive Director Kim. AI-based predictive modeling captures these latent desires and transforms them into memorable customer experiences. For instance, when AI predicts a customer's likelihood of purchasing baby formula, targeted advertising reaches them immediately. This capability far surpasses traditional rule-based systems. Hunet CEO Forum "Foresight Korea", ⓒBusiness Storyteller The 2022 Salesforce "State of Marketing" report reveals a notable shift: the percentage of marketers using AI surged from 29% in 2018 to 68% in 2022. LG U+'s experimental results are equally impressive, with AI-based predictive modeling boosting ad click-through rates by up to 38%. These results demonstrate AI's profound ability to analyze customer data and develop effective personalized marketing strategies. Creating $200,000 Ads for One-Third the Cost: How AI is Transforming Production LG U+'s pioneering use of AI in advertising production is reshaping industry standards. Starting with their first attempts in 2023, they've continued to evolve their AI advertising capabilities in 2024, capturing market attention. The most striking change is the maximization of production efficiency. After implementing AI, advertising production costs and time have been reduced to just one-third of previous levels. For example, projects that once required $200,000 and three months to complete can now be finished much faster and more economically using AI. Hunet CEO Forum "Foresight Korea", ⓒBusiness Storyteller AI isn't just improving efficiency - it's entering creative territories. In fact, LG U+'s AI-powered advertisements garnered 13 million views, generating enthusiastic audience responses. Accenture's 2021 research supports this trend, finding that 84% of companies that adopted AI gained a competitive advantage, largely because AI automation of routine tasks allows creators to focus on higher-value creative activities. However, human creativity and judgment remain crucial for successful AI implementation. While AI is a powerful tool, industry consensus holds that human expertise and insight are essential for its effective utilization. Consumers and AI: The New Content Creation Partnership AI technology is completely transforming the content creation paradigm. The UCC (User Created Content) era is giving way to the UACC (User and AI Co-Created Content) era. The age of UACC - "User and AI Co-Created Content" - is rapidly approaching. Recently, a viral Volvo car advertisement and GTA-style gaming footage created by an individual using AI demonstrated UACC's unlimited potential. Volvo commercial created by a user with AI IDC's 2021 report presents an even more striking forecast, predicting the global AI market will reach $500 billion by 2024. This highlights how rapidly AI technology is permeating across industries. These changes bring new challenges and opportunities. Companies must now provide platforms and tools that enable customers to create creative content alongside AI. This will expand brand experiences and strengthen customer relationships. Global Brands That Said No to AI While AI technology holds revolutionary potential, its implementation requires careful consideration. The cases of Lego and Dove demonstrate the crucial importance of finding harmony between AI technology and brand identity. AI used Lego images Lego completely halted its use of AI after determining that AI-generated images were damaging their brand identity. This decision was accelerated by strong consumer backlash against AI-produced content, with critics arguing that it had lost the quintessential Lego creativity and warmth. This vividly illustrates the potential clash between core corporate values and AI technology. Similarly, Dove boldly rejected AI technology, stating, "We won't use anything unrealistic in depicting beauty." These cases send a clear message: AI technology shouldn't be adopted indiscriminately just because it's trendy. Companies must carefully examine their brand values and identity when implementing AI technology. AI adoption goes beyond mere technological application. It's deeply connected to a company's strategy, culture, and human resources. Therefore, when adopting AI technology, companies must comprehensively consider various aspects including brand value, corporate culture, and talent development. This balanced approach is essential for sustainable growth and maintaining competitiveness in the AI era. Strategic wisdom is more crucial than ever - maximizing AI technology's potential while preserving the company's unique values and identity. How Can Marketers Survive in the AI Era? AI technology's advancement is fundamentally changing the role of marketers. Now, marketers must go beyond simply using technology; they need to develop skills that harmoniously blend AI and human creativity. The key is effectively expressing corporate identity through AI technology while producing superior results. LG U+'s case proves this vividly. During the process of generating and reviewing 200,000 advertising frames using AI, it became clear that human curation and refinement of AI-created content was crucial. Rather than merely relying on AI, human judgment determined the final quality of the output. Hunet CEO Forum "Foresight Korea", ⓒBusiness Storyteller Marketers must effectively utilize AI tools while maintaining brand essence and authentic customer communication. Additionally, their role in reviewing and filtering AI-generated content will become increasingly important. LinkedIn's 2023 "Jobs on the Rise" report highlights interesting changes. AI and machine learning specialists, data scientists, and digital marketing experts are among the fastest-growing job categories. This clearly shows new challenges and opportunities opening up for professionals, including marketers. Five Recommendations for Successful AI Marketing Executive Director Kim's presentation provides crucial insights into the future direction of marketing in the AI era. He presents the following key strategies: Be cautious of indiscriminate AI adoption; consider the company's actual needs and readiness level Leaders must improve their understanding of AI technology and make strategic decisions Accurate predictive modeling and personalization strategies based on customer data are essential Prepare for the UACC era by providing platforms where customers can create creative content with AI Maintain harmonious integration between brand identity and AI technology utilization "AI trends are not absolute." This single statement encapsulates everything. Only careful AI adoption tailored to a company's situation leads to success. AI is not a magic wand but a powerful tool, and how it's utilized will determine a company's success or failure. Hunet CEO Forum "Foresight Korea", ⓒBusiness Storyteller The conclusion is clear. Marketing in the AI era must achieve harmony between technological innovation and human creativity. Companies must effectively utilize AI technology while not losing sight of their brand essence and authentic customer communication. To become a winner in an AI-driven marketing environment, one must find the balance between technology and humanity. This requires strategic wisdom that goes beyond simple technology adoption, weaving together corporate core values and AI's potential into a unified strategy.

AI technology is evolving at the speed of light. The emergence of generative AI, in particular, demands more than just technological innovation—it requires fundamental changes in management strategies and business models. We are entering an era of transformation comparable to how the Industrial Revolution completely transformed the artisanal society. How should companies respond to this era of transformation? A lecture by Oh Soon-young, former head of KB Bank's Financial AI Center, at the HUNET CEO Forum 'Foresight Korea 2025' provides clear answers to this question. His presentation outlines the new business landscape that AI will create and details the strategies companies need to survive and thrive in this new world. We now stand at the peak of AI's massive wave. Will we ride this wave into the future, or will we be swept away by it? Through Oh Soon-young's insightful lecture, we can find answers to this question. AI: Moving Beyond Science Fiction Imagine robots helping with housework, AI assistants understanding and responding to your words and actions, and smart devices monitoring your health in real-time. Just a few years ago, these scenes were distant future stories found only in science fiction movies. But now, they're becoming reality. AI is no longer just a data processor. Hunet CEO Forum "Foresight Korea", ⓒinhoocho.com The emergence of 'spatial intelligence' means that AI can now understand and interact with our three-dimensional world. When you say "make the lighting brighter" in your living room, AI doesn't just execute the command—it considers the current time, external weather, and your activities to adjust to the most appropriate brightness. This is the power of spatial intelligence. Even more remarkable is that humanoid robots are on the horizon. NVIDIA CEO Jensen Huang predicts practical humanoid robots will emerge within 2-3 years. This isn't mere speculation—companies like Boston Dynamics and Tesla are already accelerating their human-form robot development. Soon, we'll see robots working alongside humans in factories, hospitals, and even homes. AI in Action: Real-World Transformations These changes aren't limited to specific industries. The financial sector is already at the forefront of the AI revolution. Morgan Stanley's case vividly shows how AI can innovate business. Their AI assistant has evolved beyond a simple chatbot—it analyzes complex financial data to create investment reports, responds to customer inquiries at an expert level, and even suggests personalized investment strategies. Morgan Stanley Debrief Perhaps most interesting is Morgan Stanley's 'Debrief' system. Can you imagine automatically recording and summarizing over a million meetings annually? Previously, this required significant time from high-level personnel. Now freed from these repetitive tasks, they can focus on more creative and strategic work. This represents a revolutionary change in optimizing human resources beyond simple efficiency improvements. Nike's case demonstrates AI's potential in creative domains. Nike uses AI to design and develop products based on athlete data. According to Oh Soon-young, this process has reduced product design development from months to just hours. Specifically, Nike inputs various data into their AI system, including athletes' movements, physical measurements, and performance data. The AI analyzes this data to suggest optimal designs. For example, it can generate customized shoe designs by analyzing a specific athlete's foot shape and running patterns. ⓒNike This goes beyond simple task automation. AI can generate and evaluate thousands of design options instantly and might suggest innovative ideas that human designers haven't considered. This allows designers to focus on more creative aspects of their work. Strategic Approach to AI Adoption AI adoption isn't simply about implementing new technology—it's a major strategic decision. Oh Soon-young presents key strategies for AI adoption: Clear Goal Setting: A vague notion that "AI might be good to have" isn't enough. Companies need to clearly define what problems they want to solve and what effects they expect. This becomes an important criterion in determining necessary resources and personnel. Data Preparation: AI grows on data. Without sufficient quality data, AI cannot function properly. He advises companies to check if they have the necessary internal data and, if not, start preparing it now. He also emphasizes the importance of converting historical data into AI-readable formats. Establishing Collaborative Structures: AI projects aren't just for the technology team. They require cooperation between various departments, including business units, IT infrastructure teams, and data scientists. Business unit participation is particularly crucial—their knowledge and experience must be reflected in the AI system to create truly useful solutions. Start with Pilot Projects: Don't try to implement on a large scale from the beginning. Start with smaller projects to verify effectiveness and increase organizational acceptance. Since each company's environment is different, going through the process of direct testing and verification is necessary. Building AI Governance: Companies need to establish ethical and legal guidelines for AI use and ensure transparency and accountability in AI decision-making. The AI governance team should be separate from AI-related organizations, positioned similarly to an audit organization. Hunet CEO Forum "Foresight Korea", ⓒinhoocho.com Real-World Challenges in AI Implementation Anyone who has attempted to implement AI solutions in the field will deeply empathize with the concerns and difficulties mentioned by Oh Soon-young. "Shouldn't we implement AI now?" Projects that start with this simple question from management often face numerous obstacles. Field practitioners are well aware of how many challenges arise: executives hesitating before investment decisions, middle managers questioning "Do we really need to go this far?" and staff worrying "Won't this just create more work?" These concerns are far from trivial. Cost optimization is a hot topic for many companies. Questions flood in: "How much will AI implementation cost?", "When can we expect to see results?", "What about our existing systems?" While it's easy to say ROI should be thoroughly evaluated, making large-scale investments in unproven technology is never simple. Hunet CEO Forum "Foresight Korea", ⓒinhoocho.com Talent acquisition and development is another major challenge. Companies grapple with questions like "Where can we find AI experts?" and "Will our employees know how to use this?" Companies are engaged in fierce competition to recruit the few available AI experts while simultaneously wrestling with how to enhance existing employees' capabilities. Integration with legacy systems is a headache for many companies. "How do we change a system we've used for over 10 years?", "How do we handle data compatibility?" How can you harmoniously integrate systems and data built up over years with new AI systems? This is a complex challenge that demands not just technical solutions but organizational culture changes. Building New Competitive Advantages What creates competitive advantage in the AI era? Oh Soon-young offers an unexpected answer: UI/UX. While AI technology's performance is important, the key lies in how easily and conveniently users can interact with it. Another crucial point is the importance of AI literacy. This goes beyond technical ability to use AI—it's about understanding AI's possibilities and limitations and being able to utilize it effectively. This AI literacy will become a core competency for both companies and individuals in the future. The introduction of AI will inevitably bring changes to work environments and job functions. However, this doesn't simply mean job losses. Rather, it's an opportunity to focus on more creative and valuable work by moving away from repetitive tasks. Preparing for the AI Future The key is preparing for these changes. Companies need to invest in employee retraining and job reassignment. They also need to improve employee perceptions of AI. It's important to create an organizational culture where AI is seen as a helpful partner rather than a threat. AI is no longer optional—it's essential. However, successful AI adoption depends not on the technology itself but on how it's utilized and managed. Oh Soon-young's lecture provides both a big picture of the changes AI will bring and a practical roadmap for how companies should respond to these changes. Moving forward, companies need to recognize AI not just as a tool but as a core element of a new business paradigm, and build appropriate strategies and organizational cultures accordingly. To become winners in the AI era, companies need technical preparation, organizational transformation, and, most importantly, learning how to work alongside AI. This is the core message Oh Soon-young aims to convey.

Panel Review from Invest Korea Summit 2024 The Invest Korea Summit 2024 featured a notable panel discussion that brought together executives from leading global companies operating in South Korea. Moderated by Hwy-Chang Moon , president of the aSSIST University, the panel explored two critical themes: the technological breakthrough centered on AI and semiconductors, and the impact of global geopolitical tensions on investment strategies. Hwy-Chang Moon (President of aSSIST University) at IKS 2024, ⓒinhoocho.com Panel Composition and Background The discussion featured five distinguished panelists representing diverse industries: Denish Ramanathan (onsemi) - Semiconductor Manufacturing Young-Suk Lee (ASM Korea) - Semiconductor Equipment Kwang-Seuk Kim (HP Printing Korea) - Printing Technology Dylan Jones (Boeing Korea) - Aerospace René Fáber (Sartorius Stedim Biotech) - Biotechnology Theme 1: Technological Breakthrough and AI Integration The panel highlighted how artificial intelligence (AI) is transforming traditional industries in Korea. Let's break down how each sector is embracing and adapting to this technological revolution. Semiconductor Industry Perspective: Powering the AI Revolution To understand the semiconductor industry's role, imagine it as the foundation of all modern technology. Just as electricity needs power plants and transmission lines to reach our homes, AI systems need specialized chips and power management systems to function. Onsemi's Power Solutions Denish Ramanathan explained their company's role through an everyday example: When you plug your laptop charger into a wall socket, you're converting AC power (from the wall) to DC power (for your device) This same principle applies to massive AI data centers, but at a much larger scale Onsemi creates the specialized chips that manage these power conversions efficiently Their recent investments in South Korea and the Czech Republic are like building local power plants to ensure reliable energy supply, but for the digital age Denish Ramanathan (Vice President of Corporate Strategy, onsemi) at IKS 2024, ⓒinhoocho.com They've invested over a billion dollars in their Korean facility because: Companies want their suppliers nearby (imagine having your power plant in another country) The pandemic showed the risks of depending on distant suppliers Korea's expertise in semiconductor manufacturing makes it an ideal location ASM Korea's Manufacturing Innovation ASM Korea represents the next layer of the industry - they make the machines that make the chips. Think of them as the company that builds the equipment for a high-tech factory. Their representative explained how AI is changing their business: Traditional chips are like regular highways; AI needs superhighways These "superhighways" require more sophisticated manufacturing tools New materials are needed, similar to how modern bridges use advanced materials instead of just steel and concrete This creates a network of specialized suppliers and manufacturers Young-Suk Lee (Representative Director, ASM Korea) at IKS 2024, ⓒinhoocho.com How Different Industries Are Using AI Printing Industry Revolution (HP) HP's transformation shows how AI is making everyday office equipment smarter: Traditional printers just created paper copies Modern AI-enabled printers can: Understand what they're scanning (like recognizing if it's an invoice or a contract) Automatically organize documents based on content Suggest where to store files Predict when maintenance is needed Optimize print quality based on document type Think of it as upgrading from a basic camera to a smartphone that can recognize faces, enhance photos, and organize your photo library automatically. Kwang-Seuk Kim (Representative Director, HP Printing Korea) at IKS 2024, ⓒinhoocho.com Aerospace Innovation (Boeing) Boeing's journey with AI shows how the technology is making flying safer and more efficient: Historical Context: 1964: Pioneered computer graphics for design 1982: Started first industrial AI research Today: Using AI across all operations Their current AI applications include: Predictive Maintenance: Like having a doctor constantly monitoring a patient's vital signs Modern aircraft generate terabytes of data during flights AI analyzes this data to predict when parts need replacement This prevents unexpected failures and reduces maintenance costs Design Optimization: Traditional design: Engineers test one design at a time AI-powered design: Computers can simulate thousands of designs simultaneously Result: Safer, more efficient aircraft developed more quickly Dylan Jones, (Director, Technology Research Institute, Boeing Korea) at IKS 2024, ⓒinhoocho.com Biotechnology Breakthroughs (Sartorius) The pharmaceutical industry is using AI to revolutionize drug development: Traditional Drug Development: Takes 10 years on average Costs up to $2 billion Requires testing hundreds of candidates to find one successful drug AI-Enhanced Drug Development: Computers can simulate drug interactions before physical testing Patient data analysis helps predict which drugs will work best Manufacturing processes are optimized through AI monitoring Result: Potentially faster, cheaper drug development with higher success rates Real-World Impact: Sartorius is installing AI-based process control tools in their Korean facilities These tools monitor and adjust manufacturing conditions automatically Like having a master chef who can adjust cooking conditions perfectly every time René Fáber (CEO, Sartorius Stedim Biotech, Sartorius) at IKS 2024, ⓒinhoocho.com The Bigger Picture This technological transformation isn't just about making existing processes faster - it's about fundamentally changing how industries operate. Korea's strength lies in its ability to: Provide the technical expertise needed for these transformations Offer advanced manufacturing capabilities Foster collaboration between different industries Support innovation through government policies and infrastructure Companies are choosing Korea as an AI and technology hub because it offers: A deep pool of technical talent Strong digital infrastructure A robust ecosystem of suppliers and partners Government support for technological advancement Theme 2: Global Tensions and Strategic Investment The panel tackled one of today's most pressing business challenges: how companies navigate international tensions, particularly between the United States and China, and why South Korea has emerged as a strategic solution for many global businesses. Understanding the Global Context Current Global Challenges Think of the global business landscape like a complex chess game where companies must carefully consider every move: US-China Tensions: Similar to two major stores competing for customers, the US and China are competing for technological and economic dominance Supply Chain Concerns: The pandemic showed how risky it is to "keep all eggs in one basket" New Business Terms Everyone's Talking About: Decoupling: Companies moving operations away from China Reshoring: Bringing manufacturing back to home countries Friend-shoring: Moving operations to politically friendly countries Why Companies Are Rethinking Their Locations Companies are asking three key questions: Risk Management: "How can we make our operations more stable?" Market Access: "Where can we sell our products easily?" Technology Access: "Where can we develop and protect our innovations?" Korea's Strategic Position: The Safe Harbor in a Storm Why Korea Stands Out Imagine Korea as a well-equipped port in a stormy sea, offering several advantages: 1. Manufacturing Excellence Advanced Facilities: Like having state-of-the-art kitchens in a restaurant Modern factories with the latest technology Skilled workforce who knows how to use advanced equipment Fast adaptation to new manufacturing methods Speed and Quality: Known for quick setup of new facilities High-quality production standards Strong attention to detail 2. Strategic Geography Korea's location is like being at the perfect crossroads: Close enough to major Asian markets Far enough from geopolitical tensions Excellent shipping and air connections Modern digital infrastructure 3. Government Support The Korean government acts like a helpful business partner: Offers tax benefits for foreign companies Provides grants for new investments Creates special economic zones Supports workforce training Real Examples from Global Companies Sartorius (Biotechnology) Their experience shows why Korea works: Started as a small operation Now has their largest global manufacturing facility in Korea Uses Korea as a hub to serve all of Asia Benefits from: Skilled workers High-quality manufacturing Strong innovation capabilities Government support for biotechnology Boeing (Aerospace) 75 years in Korea tells a story of successful partnership: Growth from small beginnings to 200+ employees Research center expansion: Started with 30 people Grew to 100+ engineers in just two years Focus on cutting-edge technology Local Partnerships: Works with traditional aerospace companies Collaborates with tech giants like Samsung and SK Connects with innovative startups What Makes Companies Choose Korea? The panel identified four main reasons companies invest in Korea, like choosing a new home based on different needs: 1. Resource Advantages Access to skilled workers Advanced technology infrastructure Strong supplier networks Research capabilities 2. Market Benefits Growing domestic market Gateway to other Asian markets Strong consumer base Testing ground for new products 3. Efficiency Gains High-quality manufacturing Fast production times Reliable infrastructure Skilled workforce 4. Strategic Benefits Political stability Strong intellectual property protection Government support Innovation ecosystem Conclusion The panel discussion revealed South Korea's evolving position as a key global investment destination, particularly in high-technology sectors. The country's strength lies in its combination of advanced manufacturing capabilities, strong talent pool, supportive government policies, and strategic geographic position. As global companies navigate technological breakthroughs and geopolitical tensions, Korea's role as a stable, innovative hub for both manufacturing and R&D continues to grow in importance. The insights from these industry leaders suggest that Korea's investment environment is particularly attractive for companies seeking to: Develop and implement AI technologies Establish regional manufacturing and R&D hubs Access skilled talent in technology sectors Build resilient supply chains in Asia Participate in Korea's growing innovation ecosystem This comprehensive view from global industry leaders provides valuable insights into why Korea continues to attract significant foreign investment despite global economic uncertainties and geopolitical tensions.

Erwan Vilfeu, President of Global Branded Business Unit at Thai Union Erwan Vilfeu, President of Global Branded Business Unit at Thai Union "Stay ahead of the airplane" — this principle that pilots hold most dear perfectly encapsulates the management philosophy of a seasoned global executive who transformed from an Airbus engineer into a business leader. His journey began with studying aeronautical engineering at Airbus, then training with Air France to become an airline pilot. After completing pilot training—and being grounded following September 11—he chose to remain in business, having discovered a passion for marketing. He's kept his pilot's license current, making him one of the few executives who actually pilots aircraft. An engineer who once worked with machines and systems transformed into a marketer dealing with people and emotions. He led innovative transformations in global children's beverage strategy at Nestlé and revived Nestlé Korea from crisis through a premiumization strategy that broke away from conventional competitive approaches. Currently serving as President of Global Branded Business Unit at Thai Union, he leads iconic seafood brands including Chicken of the Sea, John West, King Oscar, and Petit Navire. His distinctive insights stem from his philosophy of "being in the field" and his "Stay Ahead of the Airplane" approach, coordinating complex stakeholders from finance to manufacturing to innovation centers. He holds special significance for me personally—as CEO of Nestlé Korea during my tenure there, he provided the opportunity for my marketing transition and served as the best boss I've ever experienced. I witnessed firsthand how his leadership philosophy translated into actual business results. This interview explores how aviation experience influenced business leadership and practical strategies in complex global business environments. 1. What led you to transition from working as an engineer at Airbus, a multinational aviation company, to becoming a marketer at Nestlé, the world's largest food and beverage company? The move was completely unplanned. I started as an aeronautical engineer at Airbus and trained as a pilot, but when the opportunity at Nestlé came, I discovered something I hadn’t expected: the shift from working with machines to working with people. Engineering is about technical precision within complex systems, but in marketing, success depends on deeply understanding consumers — their motivations, needs, and aspirations. That human dimension, with all its complexity, is what made the field so compelling to me. What surprised me was how much my aerospace background became a strength. Aviation has a simple rule: there are no small mistakes. A single error can have catastrophic consequences. I’ve carried that same discipline into marketing, where one misstep in brand positioning or communication can take years to recover from. Similarly, managing an aircraft program — with suppliers, regulators, and global teams — taught me how to orchestrate large-scale, multi-stakeholder projects, a skill that translates directly to running global campaigns. Erwan Vilfeu Perhaps the deepest link is systems thinking. In aircraft design, one small change cascades through the entire system. Marketing is no different: a pricing adjustment impacts brand perception, distribution, and promotional strategy. Anticipating those chain reactions became my strongest analytical tool. Ultimately, both fields are built on trust . In aviation, passengers entrust their lives to the systems we design; in marketing, consumers entrust us with their families’ nutrition and wellbeing. The scale is different, but the responsibility is just as serious. And on a personal note: looking back, I’ve moved across very different fields in my career — from engineering to marketing, from food to healthcare and back — and each time I’ve succeeded because I was doing something I loved. My advice to young people starting out is simple: if you approach your work with passion and genuine curiosity, and if you truly enjoy what you do, success will follow. Passion is the most powerful driver of performance. 2. As one of the few executives who actually pilot aircraft, how have principles learned from flying influenced your business approach? The most powerful lesson from aviation is the idea of “staying ahead of the airplane.”  In flying, if you are only reacting to events after they happen, you quickly lose control. The same applies in business: leaders who manage only today’s issues inevitably fall behind. The real discipline is anticipating what’s coming — whether it’s customer expectations, market shifts, or competitive moves — and preparing before challenges fully materialize. Another principle I’ve carried over is the aviation mantra: “Aviate, Navigate, Communicate.”  It’s a simple hierarchy of priorities — fly the plane first, then figure out where you’re going, then talk about it. In business, that translates into focusing on what truly matters: keep the organization stable, chart the strategic course, and only then communicate widely. Too often leaders reverse the order, talking first without ensuring clarity or control. Finally, flying teaches rigorous workload management. Pilots prepare extensively on the ground so that when complex situations arise, they can focus only on flying. I approach leadership the same way — systematizing routine management tasks and building resilient processes so that, when crises or strategic inflection points arrive, I can devote my full attention to the decisions that matter most. In both the cockpit and the boardroom, success comes from anticipation, discipline, and clarity of focus. 3. Having built your early career across three markets—France, the US, and Italy—what was most interesting about these seemingly similar Western markets? At first glance, France, the US, and Italy may appear culturally close, but in food marketing even subtle differences become decisive. What struck me most was how deeply consumption habits reflect broader cultural rhythms—around family, work, and social life. For example, breakfast in these three countries isn’t just a different meal; it embodies a different philosophy of daily life. For me, the lesson was clear: local nuance cannot be an afterthought. Campaigns weren’t simply translated or adjusted — in each market we often had to redefine the entire value proposition. In France, consumers valued convenience and refinement; in Italy, quality and tradition carried more weight; while in the US, nutrition and family togetherness were decisive. Over time, what became even more fascinating was how digitalization and globalization layered new commonalities over these differences. A wellness-focused millennial in New York and one in Milan may share similar values, routines, and brand expectations, even though their cultural contexts remain distinct. This creates both opportunity and complexity: brands must speak to global lifestyle clusters without losing local authenticity. The balance I have adopted is simple but powerful: protect universal brand promises — quality, trust, innovation — but tailor how they are expressed in each cultural context. The most successful campaigns feel simultaneously global and inevitable locally. They clearly belong to the worldwide brand family, yet consumers feel they could only have been created for them. 4. While overseeing global children’s beverage strategy at Nestlé headquarters in Switzerland, what led you to shift away from directly targeting children in marketing? At the time, the children’s beverage market was essentially flat. Competing harder within the same old model — colorful products directly targeted at kids — would not have created growth. We needed a step change. The shift we made was deliberate and forward-looking: moving from child-targeted advertising to a strategy centered on parents and nutrition. We reformulated products to strengthen their nutritional profile, and we reshaped communications to focus on family routines, balanced breakfasts, and the benefits that matter most to parents — growth, energy, and peace of mind. This required a complete transformation of how we worked. Marketing teams who had built careers on kid-focused campaigns had to be retrained. Media investment shifted from children’s channels to parent-focused platforms. Partnerships moved away from entertainment companies toward nutritionists and health experts. It was a significant change, but it was the only way to create new momentum. The result was decisive. Not only did we return the business to growth — we achieved double-digit increases after years of stagnation — but we also established us as one of the first companies in the category to talk seriously about nutrition, long before it became industry standard. The broader lesson is that leadership often means stepping out of the comfort zone of existing practices. Sometimes growth doesn’t come from fighting harder in a flat market, but from redefining the terms of the game. Source: Nestlé Global 5. Your experience managing the entire coffee value chain across 22 African countries provided a rare integrated perspective. How did you transform complex operations into compelling consumer stories? Coffee is not just a product; it’s a chain of livelihoods. When I took on the African business, the challenge was clear: farmers were struggling, youth were abandoning agriculture, and the long-term viability of supply was at risk. The easy response would have been to diversify suppliers or hedge risk. Instead, we chose to invest directly in the value chain — farmer training, sustainable practices, better income models, and closer integration from crop to consumer. This gave us something priceless: authenticity. Consumers are increasingly skeptical of generic sustainability claims. But when you can show real progress — traceability down to communities, measurable improvements in farmer incomes, tangible environmental impact — the story resonates because it’s true. The broader leadership insight is that supply chain strategy is brand strategy. Transparency only creates advantages if it’s backed by real operational change. And paradoxically, by improving farmer livelihoods, we not only strengthened the story we told consumers — we improved quality, stabilized supply, and delivered stronger financial performance. Purpose and profit worked in unison. Source: Nestlé Global 6. When you took over Nestlé Korea and broke away from conventional competitive approaches by quickly identifying three opportunity areas, where did your confidence come from that premiumization would work in a difficult market environment? Korea was one of the toughest markets I’ve faced: saturated, hyper-competitive, and dominated by local players with lower cost structures. Competing head-to-head on price would have been a race to the bottom. Instead, we looked for where our global capabilities could create unique value. What we found was an emerging consumer polarization. Price-sensitive segments were more demanding than ever, but at the same time, a growing group was willing to pay a premium for genuine quality, innovation, and nutrition. That was the white space. So we shifted the battlefield. Premiumization wasn’t about simply charging more — it was about offering lifestyle upgrades, superior ingredients, trusted nutrition, and innovative retail experiences. By leaning into our strengths and focusing on consumers willing to pay for value, we carved out sustainable growth while competitors stayed trapped in mainstream battles. The lesson is clear: in crisis situations, leaders must resist the reflex to lower prices and chase volume. Differentiation almost always trumps commoditization. Winning comes from choosing battlegrounds where you can lead, not fighting on grounds where you can only survive. 7. Leading large-scale organizational change while managing stakeholder resistance requires complex people management skills. Do you have a framework for creating consensus around difficult changes while maintaining team morale and organizational trust? Change is never just about strategy; it’s always about people. The first step is radical transparency — ensuring everyone understands why change is necessary. Not as blame, but as shared reality. People can accept tough measures if they understand the logic behind them. Second, you have to involve them in designing the solutions. I always set up cross-functional groups so that change is co-created, not imposed. This transforms resistance into ownership. Third, balance honesty with optimism. Acknowledge the difficulty, but also paint a credible path forward. Small early wins are crucial — they turn skepticism into cautious hope, and hope into momentum. The bigger principle is that leaders must carry two responsibilities at once: being brutally honest about the challenge, and deeply committed to their people’s ability to overcome it. Done well, you don’t just deliver a transformation — you build a more resilient, more collaborative organization ready for the next one. 8. Your journey from FMCG to healthcare and back to FMCG provided unique insights as a marketer. How did you experience the limitations of purely rational, evidence-based marketing? Healthcare is an extraordinary discipline because everything rests on evidence, precision, and trust. But it also showed me the limits of pure rationality. You can prove efficacy and safety, but you cannot build desire or emotional connection in the same way as in consumer goods. That rigor, however, shaped me profoundly. I learned the discipline of accuracy, accountability, and the weight of responsibility when claims affect lives. When I returned to FMCG, I brought that discipline with me — ensuring that even our most creative, emotional campaigns are grounded in truth. What I rediscovered — and missed — in FMCG was the complexity of human behavior: culture, aspirations, family dynamics, identity. That’s what makes consumer marketing endlessly energizing. The lesson is this: the best marketing combines both worlds — the scientific rigor of healthcare with the creative storytelling of FMCG. That balance builds both trust and connection. 9. As a business leader, how do you expect your marketing team to present performance—not just today’s numbers, but also how we are winning with consumers and preparing for the future? At the end of the day, every number in marketing must answer one question: are we becoming more relevant to consumers? That’s the lens I expect my teams to apply when they present to me or to the board. First, I want clarity and a compelling narrative. A presentation should never feel like a data dump. It should tell a strategic story: where we are heading, why it matters, and how marketing is powering our journey. The numbers then support that story, not the other way around. Second, I expect consumer impact to be at the center. Don’t just show activities or spend — show how consumer preference, loyalty, and engagement are shifting. Market share and ROI are important, but only because they reflect whether consumers are choosing us more often, staying with us longer, and advocating for us more strongly. Third, I look for a balance of discipline and vision. Discipline means tying marketing actions to measurable business outcomes — share gains, brand health, lifetime value, ROI. Vision means showing how innovation — whether through new products, digital platforms, or AI-driven personalization — is keeping us ahead of evolving consumer needs and behaviors. Fourth, I want context, simplicity, and courage. A number without context doesn’t inspire. I expect comparisons against competitors, against our own targets, or against trends. And I want reports to be clear and jargon-free, so that even the most complex marketing activity is translated into business language. Most importantly, I want honesty. Tell me not only where we are winning, but where consumers are signaling we must do better. That courage to face reality builds trust and drives agility. Finally, I expect a bridge to the future. Reports should conclude with where consumers are heading, what gaps we are closing, and how we are building the capabilities to win tomorrow. Marketing’s role is not only to explain today but to light the path forward. When performance is presented this way — consumer-first, accountable, and forward-looking — it ceases to be a cost line to justify. It becomes a growth engine and an innovation driver, keeping the company anchored in today’s reality while pulling it toward tomorrow’s opportunities. Erwan Vilfeu 10. Managing decades-old iconic seafood brands across multiple markets requires balancing heritage respect with operational efficiency. How do you capture portfolio synergies without diluting the unique value each brand holds for specific consumer segments? Managing a portfolio of iconic brands is both a privilege and a responsibility. Each brand has decades of equity and emotional connection. The temptation in large portfolios is to standardize too much for efficiency, but if you do, you erode the very uniqueness that makes each brand valuable. The key is to separate what must be shared from what must be preserved. Behind the scenes, we harmonize standards in nutrition, sustainability, and quality — these are foundations that strengthen every brand. But at the consumer level, we protect each brand’s voice and heritage. John West speaks about everyday trust, King Oscar about craftsmanship and oceans, Petit Navire about French culinary tradition. This balance allows us to leverage scale without losing our soul. The broader leadership lesson is this: efficiency should serve brand equity, never compromise it. 11. Your "being in the field" philosophy suggests that important strategic turning points came from field observations rather than data analysis. Can you share a specific example where field insights fundamentally overturned assumptions? For me, the most important lesson as a leader is that strategy doesn’t start in the boardroom — it starts in the field. I first learned this in Africa, where data alone could never capture the full reality of fast-changing markets. Talking directly to farmers, retailers, or consumers often revealed insights that turned our assumptions upside down. That conviction has stayed with me. Whether in Africa, Asia, or Europe, I make it a point to meet shoppers in stores, sit with frontline teams, and listen to colleagues across functions. These conversations are not just about “hearing complaints”; they are the richest source of innovation and organizational improvement. Often, the best ideas for efficiency, new products, or better ways of working come not from consultants or reports, but from people on the ground who see issues and opportunities first-hand. Even today, I see the same pattern: the most effective strategies are those rooted in lived reality. Data tells you what happened; field interactions tell you why it happened and what can happen next. As leaders, we can only make our organizations more efficient, more innovative, and more resilient if we stay close to the people who make things happen — inside and outside the company. 12. From cockpit to boardroom —having navigated multiple economic crises and industry upheavals while continuously reinventing yourself—how do you distinguish between changes worth adapting to and passing trends? The pace of change today is relentless, and not every signal deserves the same response. Over time, I’ve developed a simple filter: is this change reshaping fundamental consumer behavior, economics, or the way business is done? If yes, then it’s not a trend — it’s a transformation. That’s how I saw social media early on, and that’s how I view AI now. But the deeper truth is this: no leader, and no organization, can perfectly predict the future. What matters most is building the capacity to adapt. Staying close to consumers, testing and learning quickly, and not being afraid to fail fast — those are the capabilities that allow a business to thrive no matter what disruption comes next. My career has taken me from aircraft systems to food and nutrition, from healthcare to global brands. The industries have changed, the tools have changed, but the fundamentals haven’t: understand people, solve real problems, and create lasting value. If you do that consistently — and remain humble enough to keep learning — you can navigate through any turbulence. Erwan Vilfeu

The word "roadshow," which first appeared in the Washington Post in 1924, has an interesting history. One of the earliest road shows was Leon Trotsky's tour of the country in a train equipped with a movie theater during the Russian Civil War to spread his message. The term, which has been used since the 1870s to mean "street theater" or "itinerant performances," has since come to refer to premieres in the film industry that travel to major cities to promote new releases, and is now synonymous with investor presentations held by companies to attract investment. On December 5 and 6, the Jeonbuk Creative Economy Innovation Center held an investment roadshow at Localstitch Sogong in Seoul. Ten promising startups, including those participating in the Center's J-curve Placement Program, participated in the event, which was attended by more than 20 investment judges from major venture capital firms, accelerators, and guarantee agencies in the Seoul metropolitan area. Jeonbuk Creative Economy Innovation Center J-curve Placement Program, ⓒ inhoocho.com The first day's pitches highlighted innovations in the local agriculture and green bio sectors. Gabitri operates a cold brew factory in Sunchang and developed Korea's first coffee jelly with more than 1% coffee. Through influencer marketing, leveraging the CEO's 24 years of acting experience, the company achieved 2,000% funding on Wadiz in 2021 and successfully entered the Asian market by signing a purchase agreement with Shanghai/Chongqing GBC in Chongqing, China, exporting to Shin Okubo in Japan, and signing an agreement with K-Mart in Vietnam. In particular, the company is working with Sunchang County to develop technology for cultivating Crystal Mountain varieties of coffee trees, which will help Korea become an exporter rather than an importer of coffee. As the global coffee market continues to grow and consumer tastes diversify, Gavitri's innovative approach is noteworthy. In particular, their attempt to combine local agricultural technology with the food processing industry shows new possibilities for Korea's agri-food industry. Gavitri's challenge presents an attractive opportunity for investors, as it offers a new paradigm of vertical integration to the domestic coffee industry, which has relied solely on green coffee bean imports. Jeonbuk Creative Economy Innovation Center J-curve Placement Program, ⓒ inhoocho.com Timfarmer has implemented smart agriculture technology focused on growing in response to climate change. It has developed its own RTI (Light Proportional Temperature Control) algorithm to optimize greenhouse temperature and currently operates a consignment greenhouse in Sitar, Uzbekistan with a 3,000-acre tomato farm. The company plans to build an additional 6,000-square-meter greenhouse in Saemangeum in 2024. At a time when global food security is becoming an important issue, Timfarmer's smart farm technology is expected to become a key solution for increasing the stability and efficiency of food production beyond simple agricultural innovation. In the fintech sector, Tomorrow was in the spotlight. It has signed an agreement with US KYC authentication company Clyde to solve the payment problem of foreigners who do not have a foreigner's registration card, and holds four patents. Specifically, it is targeting the KRW 20 trillion annual foreign inbound consumption market with an identity verification system using blockchain-based distributed identity verification (DID) technology, and aims to support TIPS in the second half of next year. As South Korea's tourism industry is rapidly recovering, Tomorrow's technology is expected to be a catalyst for improving payment convenience for foreign tourists and stimulating the domestic consumption market. STOK introduced an innovative investment platform targeting the KRW 10 trillion annual pig farming market. It introduced Intflow's pig body shape analysis system and foot-and-mouth disease monitoring sensors to solve farmers' financial and labor shortages. It also provides systematic management through real-time control solutions and CCTV systems. In particular, the company has established a win-win cooperation model by introducing a farmer compensation system and a grade incentive system in the event of a 4.5% or higher mortality rate, and also operates a protection fund to protect investors. As the digital transformation of the livestock industry is becoming an urgent issue, STOK's platform is regarded as an innovative model that can simultaneously improve farmers' productivity and generate stable returns for investors. Jeonbuk Creative Economy Innovation Center J-curve Placement Program, ⓒ inhoocho.com Zumidang has developed an AI-powered customized F&B pairing solution based on objective polymer compound data. The solution uses gas chromatography equipment to obtain quantified data on food, which is then analyzed by AI models to provide optimal pairings. It has established an OEM production system in collaboration with 40 partner breweries. Recently, the company signed a $4 million contract with Vietnam's second-largest rum company, and is targeting KRW 28.6 billion in sales by 2025 by securing 25 franchisees. With the growing importance of data-driven decision-making in the F&B industry, Zumidang's scientific approach is expected to bring a new paradigm to the food and beverage pairing market. Bluefrog provides innovative membership services through its offline-based lifestyle reward service 'SOSOK'. It has secured 180,000 domestic and 8,000 overseas merchants, and has agreements with Coupang Incheon Branch, Samsung Biologics, Incheon Tourism Organization, and 140 universities nationwide. In particular, it has secured 11 million Japanese subscribers through a collaboration with Japan's GiftPad, and is also offering memberships to overseas tourists through Asiana Airlines. As the global consumer market is rapidly reorganizing into rewards-based marketing, Bluefrog's cross-border membership service is expected to contribute to the revitalization of the domestic consumer market. Datamond provides multi-agent AI marketing engagement solutions. It has acquired 33 million data through its 300,000-member Postmaster platform and has received a data valuation of KRW 1.6 billion. It is cooperating with Shinhan Futures Lab and IP Warehouse, and is working to connect with Shinhan Card's data platform Data Mart. In particular, it has a technology that replicates 1 million simulation environments to operate efficient AI models with fewer resources. As AI technology is rapidly spreading to the marketing field, Datamond's efficient AI operation technology is expected to play a key role in helping companies reduce marketing costs and maximize effectiveness. Jeonbuk Creative Economy Innovation Center J-curve Placement Program, ⓒ inhoocho.com AHES, the first DeepTech Tips company selected by the Jeonbuk Center for Creative and Innovative Economy, has developed a large 2.5 megawatt ultra-efficient alkaline water electrolysis stack for the hydrogen economy. It has achieved the world's highest efficiency of 4 kW per 1 Nm³ of hydrogen production and is close to signing a technology transfer contract worth KRW 20 billion with BHEL, an Indian state-owned company. It has signed a five-year supply contract with GH2 and is currently preparing to build a new 4,500-pyeong factory in Wanju. The company is aiming for an initial public offering (IPO) around 2027, based on the experience of founding Iljin Hysolus in 1999 and selling the company in 2014. At a time when the transition to a global hydrogen economy is accelerating, AHES' innovative water electrolysis technology is expected to be a game changer in the green energy market. Selected as the winner of the 2nd J-curve Deployment Program, Dreamers is a company that develops data-collecting IoT agricultural machinery. It was selected as a subsidiary of Gunsan University's technology holding company and is characterized by its deep learning-based agricultural product sorting system. Unlike existing color sorters, the company has introduced a deep learning method to enable more accurate quality inspection, and has built a system that can be remotely monitored and controlled from a server through a network connection. The company is currently preparing to enter the overseas market in cooperation with Indian companies. As the digital transformation of agriculture is becoming an urgent issue, Dreamers' AI-based agricultural machinery is considered an innovative solution that can solve the labor shortage problem and improve the quality of agricultural products. Jeonbuk Creative Economy Innovation Center J-curve Placement Program, ⓒ inhoocho.com The roadshow was an interesting opportunity to see the strength of startups in Jeonbuk, and it was especially noteworthy that most of the participating companies have already entered overseas markets or are on the verge of signing concrete contracts. This shows the global competitiveness of Jeonbuk startups, which is not limited to the region. With the recent freeze in the venture investment market, even promising startups are having difficulty raising funds, so this event was timely. Investors were able to meet proven startups in one place, and startups were able to showcase their technology and growth potential in person. If more of these quality matchmaking opportunities are organized across the region, the Korean startup ecosystem will become even stronger. Hopefully, Jeonbuk Creative Economy Innovation Center's initiative will spread to other regions.

“The most important thing about AI is the underlying infrastructure” CEO Young Sang Ryu, ⓒSK Telecom Newsroom This quote, emphasized by SK Telecom's Yoo Young-young at the SK AI Summit 2024, captures the essence of the current AI industry. ChatGPT and AI image generation are just the tip of the iceberg, and there is a huge infrastructure that supports them. According to Precedence Research, a global market research firm, the global AI market was worth $538.1 billion (approx. KRW 708 trillion) in 2023 and is expected to grow to $2.75 trillion by 2032. That's more than 1.5 times the size of South Korea's 2023 GDP (about KRW 2,200 trillion). AI infrastructure is like the human body. High-performance computers process complex computations like the brain, data centers store massive amounts of data like muscles, and communication networks deliver information like the nervous system. These three elements must work in perfect harmony for AI to function properly. For example, to produce a single response from one of our favorite AI chatbots, thousands of GPUs work simultaneously, hundreds of terabytes of data are processed, and all of this happens in less than a second. For telcos in particular, AI infrastructure is a new growth engine. Traditional telecom network and data center operations experience has become an even more valuable asset in the AI era. The nation's densely connected telecommunications network serves as the “digital highway” for AI services. If the general Internet is a city street, AI needs a dedicated highway, a “dedicated line. This infrastructure, owned by telcos, is a key factor in the quality and reliability of AI services. Moreover, AI infrastructure is no longer just a technology foundation, but a key element of national competitiveness. Just as social overhead capital (SOC) such as roads, ports, and railways were the foundation for national development during the industrialization era, data centers and telecommunications networks will play a role in the AI era. This is why Yoo emphasized that “building a solid infrastructure is essential for South Korea to enter the G3 AI powerhouse.” Data Center Evolution: From Digital Hotel to AI Powerhouse The 100 megawatt data center operated by SK Telecom through SK Broadband has been operated in a 'co-location' manner. Co-location is simply a 'digital hotel' service. The carrier provides the building, electricity, air conditioning, and security, and companies rent as much space as they need and set up their servers. Just like a hotel guest books a room and brings their own belongings, companies rent space in a data center to run their servers. This was an economical choice to avoid having to build their own data centers, which can cost tens of billions of dollars. However, with the advent of the AI era, data centers are now evolving from mere “digital hotels” to “digital power plants”. The biggest change is power consumption. Whereas a rack of servers (the cabinets you plug them into) used to consume 4-7 kW of power, AI servers require at least 15 kW and as much as 30 kVA. This dramatic increase in power demand creates new technical challenges. Cooling systems need to be completely different. Traditional air cooling cannot keep AI servers cool, requiring advanced cooling technologies such as rear door heat exchangers or direct chip liquid cooling. It's like how a regular air conditioner can't cool a semiconductor factory. Of particular note is the location strategy of data centers. Cloud service providers want to cluster data centers within a 50-kilometer radius for quality of service, which is directly related to data processing speed. The role of telcos is also changing. They need to evolve beyond just providing space and power to become AI infrastructure specialists. The GPU revolution and the democratization of computing Mark Adams, president of Penguin Solutions, declared that “2023 was the year of GPU sales.” GPUs (Graphics Processing Units) are semiconductors originally developed to process graphics for gaming, but they are now the “brains” of AI. It's like the automotive industry's shift from internal combustion engines to electric motors, with batteries becoming a key component. In fact, GPU market leader NVIDIA's data center revenue grew 279% year-over-year in 2023 to $18.5 billion. The importance of GPUs is changing the way AI is developed. The more computing power used to train AI models, the higher the quality and efficiency of the models. “More companies should be able to utilize AI technology without breaking the bank,” says Stephen Gallivan, President of Lambda Labs. This is where GPU as a Service comes in. Lambda CEO Stephen Balaban, ⓒ inhoocho.com GPU as a Service is a way to subscribe to GPU resources and use them only as needed, just like watching a movie on Netflix. In the past, purchasing a server with a high-performance GPU required an upfront investment of hundreds of millions of dollars. But now you can pay by the hour or by the job. It's like using car sharing instead of buying a car. “We see a huge shortage of data center capacity for AI in the next three to five years,” Adams said. The demand for GPUs is currently exploding as companies around the world dive into AI development. GPU supply, on the other hand, is limited. There are only a few companies capable of producing high-performance GPUs, and it will take years to ramp up production facilities. This makes efficient utilization of GPUs even more important. SK Telecom's GPU service in collaboration with Lambda Labs aims to utilize limited GPU resources as efficiently as possible. This is done by appropriately distributing AI training tasks that use GPUs around the clock, and inference tasks that use GPUs only when needed, to maximize resource utilization. Most notably, these changes are leading to the democratization of AI technology. AI development that was once only available to giants like Google and Meta is now available to SMEs and startups. This is expected to enable new innovations in the AI industry, just as cloud computing lowered the barriers to entry in the IT industry. Challenges and issues: power and environmental dilemmas The biggest challenge facing AI data centers is power. Mr. Yoo clearly presented the cost structure of operating AI infrastructure. 70% of the total capital expenditure (CapEx) is GPU-related, and 70% of the operating expenditure (OpEx) is power-related. This is similar to the electric vehicle industry, where the cost of batteries and charging account for the majority of the total cost. SK AI Summit 2024, ⓒ inhoocho.com South Korea in particular faces three serious challenges. The first is the physical limitations of power supply. As Yoo says, “We can't afford to power data centers in the metropolitan area anymore,” and the power supply in the capital is already at its limit. Cloud service providers want to keep their data centers within a 50km radius of the center of Seoul to ensure quality of service, but this is no longer physically possible. Second is the issue of power prices. South Korea's industrial power prices are higher than competitors such as India, Malaysia, and Australia. AI data centers will eventually have to compete in the global market, and these high power prices are a major weakness. It's like how high costs in manufacturing can make you less competitive. The recent 10% increase in industrial electricity prices adds to this concern. Third is environmental concerns. Global big tech companies have pledged to reduce their carbon emissions to “zero” by 2050. But in the age of AI, that's a big challenge. “It's a paradox,” says Yoo. As the demand for AI grows, power consumption and carbon emissions inevitably increase. Efforts are being made to address these challenges in various ways. First, the relocation of data centers to rural areas is being considered. Since latency is less important for AI model training than for real-time services, it is possible to relocate data centers to rural areas where electricity supply is plentiful. This could help revitalize local economies. Energy solutions are also diversifying. Renewable energy sources such as solar and wind are increasingly being utilized, while new energy sources such as small modular reactors (SMRs) are also being explored. In the Middle East, special zones for data centers have been established to reduce electricity prices, a policy that Korea can learn from. There are also ongoing technological innovations to make AI servers more energy efficient. With the introduction of new cooling technologies such as liquid cooling and direct chip cooling, research is also underway to make the AI chips themselves more energy efficient. Preparing for the future: an era of collaboration and innovation Building AI infrastructure is no longer a task that any one company or country can solve alone. “SK Telecom is active in collaborating with global partners in the AI data center business, and these partnerships are the strength of SK Group.” Mr. Yoo's words illustrate the new competitive paradigm in the AI era. Just as automobile companies collaborated with battery companies and software companies in the era of electric vehicles, collaboration in various fields has become essential in the AI era. SK AI Summit 2024, ⓒ inhoocho.com Three key factors are necessary for the success of the future AI infrastructure market. The first is technological innovation. Penguin Solutions has already begun work on its next-generation AI accelerator board, RISC-V, Adams said. “We need to innovate two to three years out,” he says, so we need to start preparing for future technologies now. The second is policy support. Comprehensive policy support is needed, including designating special data center zones, improving power supply systems, and fostering human resources. In particular, policies to reduce electricity prices through special zones, such as those in the Middle East, need to be reviewed to ensure global competitiveness. The third is to build an ecosystem. It is important to create an environment where various companies, from large corporations to startups, can participate. In particular, the development of new services utilizing existing infrastructure, such as submarine cables, is also a noteworthy area. AI infrastructure is now becoming the infrastructure of a new era, just like electricity and roads in the early 20th century. It is more important than ever for the government, businesses, and society at large to collaborate and innovate in order for Korea to become a leading player in this new era.

The auditorium on the fifth floor of the Seoul Center for Creative Economy and Innovation was packed with prospective entrepreneurs and startups interested in attracting investment. At the event, called “Investment Class,” five differently colored investment firms showed their true colors under one roof. MYSC, which focuses on impact investing, Sopoong Ventures, which bets on climate technology, KingoSpring, which is pursuing aggressive growth, Kingsley Ventures, which claims to be extremely efficient, and Futureplay, which claims to be a powerhouse in deep tech. Each of them had only 10 minutes to present their identity, strategy, and concerns. Their pitches were a snapshot of the current state of the Korean venture capital ecosystem. With each investor trying to differentiate themselves with different keywords such as impact, climate, tech, and efficiency, the diversity of the Korean VC market and the challenges they face were clearly visible. Particularly noteworthy is the distinct positioning of each firm. MYSC, with its large 90-person team, seeks impact, Kingsley Ventures, with its small number of aggressive investors, and Futureplay, with its network of large corporations, are all on very different paths in the same market. Seoul Creative Economy Innovation Center “Investment Class,” ⓒBusiness Storyteller MYSC, a leader in impact investing “Social and environmental issues are the source of innovation. We aim to discover and invest in companies in these areas.” This declaration from MYSC is in line with current trends in the investment industry. However, it remains to be seen whether this approach will lead to actual profitability. Seoul Creative Economy Innovation Center “Investment Class,” ⓒBusiness Storyteller As of October 2024, MYSC's performance is noteworthy. AUM of KRW 91.1 billion, 170 cumulative investee companies, KRW 42.4 billion in investment execution, and a portfolio company value of KRW 2.2 trillion are proof of this. In particular, its large staff of 90 people is unusual for an impact investor. MYSC's investment portfolio is distinctly differentiated. The composition of 32% (64 companies) from outside the metropolitan area, 14% (28 companies) from women-owned businesses, and 5% (10 companies) from universities shows intentional inclusivity. However, this raises two questions: In terms of profitability: Is there a real return on local investment? Balancing inclusive investment with financial performance The lack of exit stories Impact perspective: Practical measurement and verification of impact Sustainability of local innovation The practical challenges of scaling up MYSC had clear criteria for impact investing prospects. It was divided into two categories: first, “companies that solve social problems through innovative technologies or business models,” and second, “companies that create local value by leveraging the unique characteristics and resources of the region.” In particular, it emphasized locally-based innovations, such as developing business models using local resources, fostering local talent, and revitalizing local communities. Seoul Creative Economy Innovation Center “Investment Class,” ⓒBusiness Storyteller MYSC's impact investment framework was also impressive. It utilizes impact indicators based on the UN SDGs, and is creating impact through the following opportunities: To engage in partnerships to systematize “backward leap” projects from innovative companies. To build capacity and connecting with the rest of the world from an impact perspective. To transform social problems into sustainable businesses by redefining them as sources of innovation. To set a precedent for institutional and policy investors through impact investing. To provide patient capital for impact enterprises that require long-term time horizons. In particular, MYSC's impact framework had a clear I-O-Output-Outcome-Impact structure, and established a systematic impact measurement system utilizing ESG integration and IRIS+ indicators. This demonstrated MYSC's philosophy of creating real social value beyond mere investment. However, some fundamental questions remain. First, can inclusive investment strategies translate into real returns; second, can large-scale organizational operations be an effective model for impact investors; and third, can the goal of local innovation translate into real scale-up? It will be interesting to see how MYSC can overcome these challenges and present a new model of impact investing. Sopoong Ventures' focus on climate technology “Recently, we have been focusing on the keyword climate technology. But it doesn't just mean the environmental sector.” The presentation by Sopoong Ventures clarified their strategic positioning. Based on their experience since 2008, they are looking for companies pursuing technological innovation in a wide range of areas, including energy, environment, agri-food, and circular economy. Seoul Center for Creative Economy and Innovation “Investment Class,” ⓒBusiness Storyteller With $50 billion in AUM and more than 160 portfolios, the company's position as a mid-sized investor is clear. However, its recent strategy centered on climate technology is a new challenge. In particular, the 'N-Harvest' program and the 'Impact Summit' program with the Nonghyup Central Association are seen as realistic approaches that leverage existing networks. “We believe that beyond simple investment, the growth of the founding team and the growth of the company should go hand in hand.” This quote from Sopung Ventures sums up their investment philosophy. They seek to balance financial performance with social impact, and this is embodied in three key strategies. First, they are constantly expanding their investment universe. While building a portfolio centered around climate tech, they are also expanding their investments to include agri-food, energy, and the environment. In particular, we actively seek out companies with circular economy models and take the lead in creating a sustainable business ecosystem. Second, we have a systematic growth support system. We focus on discovering promising early-stage companies through placement programs and increasing their enterprise value through professional acceleration. We also provide collaboration opportunities with various partners to help portfolio companies grow substantially. Finally, we have a systematic approach to impact measurement and management. It has established an impact assessment system based on the UN SDGs and transparently discloses its investment performance through regular impact reports. It also continuously monitors and manages the impact performance of its investee companies to enhance the effectiveness of social value creation. “Creating a profitable business model while solving environmental problems with innovative technologies is the impact we seek.” While Sopoong Ventures' climate technology-focused strategy seems timely, there are some significant challenges. First, how to rapidly build expertise in the field; second, how to balance impact and profitability; and third, how to compete in the global marketplace. How these challenges are addressed will be key to the organization's future success. Only time will tell if the company's experimentation in the new field of climate technology will prove successful, or if it will be remembered as a hasty pivot to follow a trend. Kingosprings pursues aggressive growth “We're moving with the motto of hustle this year.” Founded in 2019, this quote from KingoSpring sums up their progressive company culture. Despite its short history, the company has been very aggressive. Seoul Creative Economy Innovation Center “Investment Class,” ⓒBusiness Storyteller The company started its activities as a TIPS operator by running the Incheon Youth Entrepreneurship Academy in 2022, and recently expanded its bases to the United States and Vietnam to build a global network. Since 2024, the company has been investing more aggressively with the “Hustle Principle,” which has resulted in the award of the Gyeonggi-do Governor's Citation, more than 30 acceleration programs, 57 company selections, and 12 TIPS selections (including two deep-tech TIPS). “We look for companies that have the potential to grow 10x in five years.” Their investment philosophy is clear. They have invested in 58 companies, mainly in the ICT platform, biohealth, and small cap sectors, with 27 TIPS picks. However, it remains to be seen whether this rapid growth will translate into quality growth. Seoul Creative Economy Innovation Center “Investment Class,” ⓒBusiness Storyteller KingoSpring invests and incubates through a clear process of 'Discovery - Accelerating - Investment - Value-up'. It starts by discovering startups with high growth potential, provides systematic training and mentoring, and after investment, continues to provide support for continuous value improvement. However, this is the basic structure of most accelerators. What really sets KingoSpring apart is the speed at which this process is executed. The ability to take risks and execute quickly is definitely an advantage for KingoSpring. While the rapid growth is impressive, there are a few challenges that stand out. First, there's the lack of validation due to its short track record. Second, there's the question of whether its aggressive international expansion will translate into tangible results. How KinggoSpring overcomes these challenges will be a key determinant of its success in the future. However, their ambition to become one of Korea's leading global investment firms makes us look forward to even greater leaps forward. Kingsley Ventures: a new experiment in family office efficiency “We are a family office. Anglo-American family offices are generally conservative, but we're different.” This statement from Kingsley Ventures is both challenging and somewhat unexpected. At its core, a family office is all about stewardship of assets, and Kingsley Ventures is very aggressive. The structure is interesting, with only three investment staff, including the managing director, but supplemented by part-time specialists. Last year and the year before, they made over 20 early stage investments, and in 2023, they received five TIPS, all of which were selected. Seoul Center for Creative Economy and Innovation “Investment Class”, ⓒBusiness Storyteller What's particularly impressive is the way they operate. “Pure manpower is important, but we also look for startups that work 24/7 with the professionalism of a hundred per day.” The company's track record is evident in the fact that it has invested KRW 35 billion in 114 companies, and its portfolio companies have a combined enterprise value of KRW 1.5 trillion. Recently, the firm is preparing to obtain a VC license and is also pursuing a new $20 billion fund. While Kingsley Ventures' experiment is intriguing, it raises a few fundamental questions. First, will the current highly efficient operating model be sustainable at scale; second, how will it balance its aggressive investment strategy with the inherent responsibility of managing the assets of a family office; and third, what will its identity and operating strategy be after obtaining a VC license? “Investment Class” at the Seoul Center for Creative Economy and Innovation, ⓒBusiness Storyteller In the end, time will tell whether Kingsley Ventures' experiment will become a revolutionary model for family offices or an example of the limits of excessive efficiency. Futureplay bets on deep tech: combining expertise and networks “Our mission is to sustainably create startups that can change the world in 10 years.” Futureplay's announcement was unique from the start. It was particularly impressive that the organization has built a portfolio of 251 investments in its 11-year history, with a survival rate of over 90%. Add to that the fact that it has KRW 276.9 billion in AUM and a MOIC of 2.9x, and it was overwhelming. Seoul Center for Creative Economy and Innovation “Investment Class”, ⓒBusiness Storyteller Of course, these numbers also raise some questions. A high survival rate of 90.6% may indicate a conservative approach rather than innovative investing. The portfolio size of 251 companies raises the question of whether there is substantial valuation support. The MOIC of 2.9x also needs to be compared to the industry average. Its strength in the deep tech sector is clear: Portfolio composition: Robotics/Mobility: 34.7%. Bio/Healthcare: 12.2 Software/SaaS: 21.7 Hardware/Material: 19.7 Their success stories were concrete and compelling. The story of BMW's collaboration with Seoul Robotics was particularly impressive. “When BMW came to Korea in 2019 and saw several investors, we already had eight autonomous driving portfolios.” Four successful IPOs and 15 M&As are further proof of their expertise. “Investment Class” at the Seoul Center for Creative Economy and Innovation, ⓒBusiness Storyteller Futureplay's biggest differentiator is its network of collaborations with large corporations. This enables quick market validation and reference acquisition for portfolio companies. However, there is also a risk of becoming dependent on large companies. It's about balancing innovation and commercialization, and whether this model can work in a global market. It remains to be seen whether the 251 portfolio companies will be able to provide substantial support and whether the high survival rate of over 90% can be maintained. It will also be an important strategic choice whether to further strengthen its expertise in the deep tech sector or pursue portfolio diversification. To date, Futureplay is an important example of the potential success of Korean deep tech investments. However, their next challenge will be how to balance deepening their expertise and expanding their network in a rapidly changing technology environment. Seoul Center for Creative Economy and Innovation “Investment Class,” ⓒBusiness Storyteller Different Paths, Same Purpose: Growing Startups What impressed me most about the event was the unique investment process of each investment firm. MYSC made alignment with the UN SDGs a core investment criterion and sought to harmonize social and business values. Excursion Ventures emphasized in-depth communication with the founding team, especially the ability to communicate impact as an important evaluation factor. KingoSpring focused on systematic discovery and nurturing of startups through its placement program. Kingsley Ventures lowered the barriers to entry for early-stage startups through flexible investments using safe notes, while Futureplay helped its portfolio companies validate and grow their markets through strategic collaborations with large corporations. Hearing from these five investors in one place demonstrated the diversity and expertise of the Korean investment ecosystem. Whether it's impact investing, climate tech, rapid growth, operational efficiency, or deep tech, each investor has a strong competitive edge in their area of expertise. This differentiated expertise will be an important factor for startups when choosing an investor. The biggest takeaway from the event was that we were able to strategically choose the investor that best aligns with our company's direction by understanding the characteristics of each investor. We look forward to utilizing these insights in our future fundraising efforts to build a more effective fundraising strategy.

The Korea Consumer Affairs Ministry's ‘2023 Consumer Redress Yearbook’ reveals a darker side of modern marketing. The number of applications for consumer redress has been on the rise, especially in the fields of financial investment products and educational services, where the damage caused by ‘false and exaggerated advertising’ is concentrated. This suggests that modern people's anxiety about economic success and self-improvement is becoming a major target of marketing. The KFTC's monitoring results for the e-commerce sector in the first quarter of 2024 show a more concrete picture. False and exaggerated advertisements in social media marketing using influencers are on the rise, and urgency marketing that encourages consumers to make immediate purchases, such as ‘limited sales’ and ‘imminent deadline’, is a major problem. New risks in the digital age The Korea Internet & Security Agency's (KISA) ‘Internet Usage Survey 2022’ warns of new risks in the digital age. It found that 54.3 per cent of social media users are tired of being exposed to ads, with the figure rising to 62.8 per cent among 20-somethings. These numbers are particularly alarming for two reasons. First, the fact that even 20-somethings, who are often referred to as digital natives, complain of fatigue suggests that the current intensity of online advertising is already beyond acceptable limits. Secondly, the higher the ad fatigue rate, the more vulnerable the group is to anxiety marketing. Fatigue from excessive ad exposure eventually reduces our ability to make comparative analyses and makes us more susceptible to emotional appeals. Recent deliberations by the CRTC show that these concerns are becoming a reality. The number of false and exaggerated advertisements on online platforms has been on the rise, and anxiety-promoting content is particularly prevalent in the financial, diet, and education sectors. The hidden cost of anxiety marketing The results of the Financial Supervisory Service's 2022 Financial Consumer Protection Status Assessment show the true extent of the damage caused by anxiety marketing. The number of incomplete sales by banks and insurers increased year-on-year, with the most notable being complaints about pension insurance products that triggered retirement anxiety. The fact that these products have a higher cancellation rate than other insurance products proves that fear marketing ultimately hurts both consumers and businesses. Consumers lose money and companies lose brand credibility. The KFTC's estimate of KRW 100 billion in consumer damage related to exaggerated advertising in 2021 is just the tip of the iceberg. The actual damage is expected to be much higher for two reasons. Firstly, most consumers don't take the time to file a formal complaint, and secondly, it doesn't account for psychological anxiety and stress, which can't be measured in monetary terms. Brands succeeding by selling value Unilever's announcement in its 2022 annual report demonstrates that ethical marketing can be successful. The company's Sustainable Living Plan (USLP) brands grew 50% faster than other brands. This figure is particularly noteworthy for three reasons. First, it's not a short-term experiment, but a long-term follow-up of more than five years, which gives it credibility. Second, it shows the resilience of value-driven marketing, as this growth was sustained during the global recession. Third, the results are common across a wide range of product lines, suggesting that it can be a universal strategy that is not limited to a specific industry. Arc'teryx's ‘ReBird, ⓒGearJunkie Outdoor brand Arc'teryx's ‘ReBird’ programme has set a new standard for value spending. Launched in 2019, the programme tackled consumer anxiety about premium pricing head-on with a message of ‘more expensive, but longer lasting’ products. With repair and recycling as the core values of the products, the programme saw a 39% year-on-year increase in global sales in 2021. Most notably, customers who used the product's repair service were 2.1 times more likely to repurchase than those who did not. This shows that marketing that emphasises the intrinsic value and sustainability of a product, rather than anxiety triggers, can lead to real results. Regulation and change The KFTC's 2023 revision of the Important Labelling and Advertising Notices is significant. The ability to impose fines of up to 2 per cent of turnover is more than just an increase in penalties. First, it signals a shift in perception that anxiety marketing is no longer just a sales tactic, but a serious violation of consumer rights. Secondly, the tying of fines to revenue reflects a social consensus that large companies should be held to a higher level of ethical responsibility. The establishment of ESG advertising review standards by the Korean Advertising Self-Regulatory Organisation (2022) is an important milestone that demonstrates voluntary change in the industry. It is particularly noteworthy that the standards do not simply regulate false and misleading advertising, but actively promote corporate social responsibility and ethical marketing. It marks the beginning of a new paradigm in marketing that goes beyond the elimination of negativity to the creation of positive value. Our choice The problem with anxiety marketing is clear, based on real-world data. Strategies that stoke consumer anxiety to increase short-term sales not only undermine a company's credibility in the long run, but also cause measurable economic losses. Values-driven marketing, on the other hand, has proven to be more than just an ethical choice; it can be a viable business strategy. More importantly, this shift is becoming more of a necessity than an option. Increasing regulation, rising consumer awareness, and the rapid spread of negative information pose a fundamental threat to the sustainability of fear marketing. Sell the product, don't sell the fear. It's no longer just a mantra, it's a data-driven, essential principle of the future of marketing.

Part 1: Understanding South Korea's Current Position and Goals South Korea's Digital Foundation Think of South Korea as a student who's already excelling in technology class (ranked 6th globally) and now wants to become one of the top three students in advanced AI studies. The country is particularly strong in areas like memory chips (think of these as the brain cells of AI computers) and has filed the third-most AI-related patents globally. Key Numbers to Remember: 6th place in global digital competitiveness 2nd place among large countries (population over 20 million) 1st place in AI memory chips 3rd place in AI patents The Big Goal: South Korea wants to be one of the top three countries in AI within three years. It's like moving from being a strong player to becoming a championship contender. How They're Planning to Do It: Building the Foundation Investing $1.5 billion in AI computers Think of this as building several giant super-computers that can process massive amounts of information Making these resources available to companies and researchers Like creating a public library, but for AI tools Making AI Part of Daily Life Goal: 7 out of 10 companies using AI by 2030 Examples of what this means: Doctors using AI to help diagnose diseases Farmers using AI to predict best planting times Government services becoming faster through AI Schools using AI to personalize learning Company Leaders Taking Action Samsung: Making special computer chips for AI Hyundai: Working on self-driving cars and robots SK: Developing advanced memory technology Part 2: Strategy and Investment Plans - "The Blueprint for AI Leadership" The Four Major Flagship Projects Infrastructure Expansion ("Building the AI Highway") What It Means: Think of this as building a massive digital highway system for AI Key Investment: $1.5 billion for a national AI computing center Goal: Multiply current GPU capacity by 15x (GPUs are like powerful calculators for AI) Simple Example: If current AI computing power can process 1,000 tasks per day, the goal is to handle 15,000 tasks daily Private Sector Support ("Fueling the AI Economy") Total Investment Target: $47.5 billion over three years How It Works: Government provides tax benefits and financial incentives Big tech companies like Microsoft (Busan data center) and Amazon (Incheon data center) are already investing Think of it like the government offering discounts and support to companies building AI factories AI Adoption Targets ("Spreading AI Everywhere") Industry Goal: 70% AI adoption by 2030 Imagine 7 out of 10 companies using AI in their daily operations Public Sector Goal: 95% adoption Nearly all government services will use AI Focus Areas: Manufacturing (smart factories) Finance (automated services) Healthcare Agriculture Culture and entertainment Public services Safety and Global Leadership ("Making AI Safe and Reliable") New Institution: National AI Safety Research Institute Global Network: Partnerships with NATO and other international organizations Key Focus Areas: Preventing AI misuse Fighting fake news and deepfakes Protecting against cyber threats Ensuring ethical AI development Expected Economic Impact Annual Target: $226.28 billion To put this in perspective: This is about 12% of South Korea's current GDP Equivalent to creating a new major industry sector Would create numerous new jobs and business opportunities Part 3: Implementation Strategy and Global Cooperation - "Making It Happen" The Four Pillars of Implementation Startups and Talent Development ("Growing the AI Workforce") Talent Goals: Training 20,000 AI experts Supporting 600 R&D projects What This Means for Regular People: New job opportunities in AI Training programs for career transition Support for AI-focused startups Think of it as creating a new generation of AI professionals Technology and Infrastructure ("Building the Digital Foundation") Core Components: Regional AI data centers Nationwide computing network AI-specific research facilities Real-World Impact: Faster internet and AI services Better access to AI tools for businesses More powerful computing resources for researchers Inclusion and Equity ("AI for Everyone") Key Goals: Making AI accessible to all businesses, not just big companies Ensuring rural areas have access to AI technology Preventing digital divide Practical Applications: AI tools for small businesses Public AI services Support for traditional industries to adopt AI Global Leadership and Cooperation ("Playing in the Global AI League") International Network: Asia-Pacific AI Safety Research Institute Partnerships with global tech leaders Collaboration with NATO Focus Areas: AI safety standards International research Technology exchange Joint development projects Unique Korean Advantages Cultural Foundation: Building on K-culture success (K-pop, K-drama, K-food) Strong technology adoption rate among citizens High digital literacy Industrial Strength: Strong semiconductor industry Advanced manufacturing capabilities Experience in rapid technology adoption Government Support: Presidential-level commitment Coordinated national strategy Strong public-private partnerships Timeline and Milestones Near-term Goals (1-2 years): Establishing AI infrastructure Launch of key institutions Initial training programs Medium-term Goals (2-5 years): Reaching industry adoption targets International partnership expansion Research institute development Long-term Vision: Becoming top 3 global AI power Leading in AI safety and ethics Creating sustainable AI ecosystem This comprehensive approach shows how South Korea is not just focusing on technology development, but also on creating a sustainable, inclusive, and globally connected AI ecosystem. The strategy balances economic growth with social responsibility, while leveraging Korea's existing strengths in technology and digital infrastructure.

About the Speaker Karen Madden, serving as the Chief Technology Officer of Merck's Life Science business, delivered a compelling keynote address at the Invest Korea Summit. As CTO, she oversees technological innovation and strategic development for one of Merck's core divisions, bringing deep expertise in life sciences and global innovation strategy. A Journey Through Time Imagine a small pharmacy in Germany, opened in 1668 - around the same time Korea's Joseon Dynasty was flourishing under King Hyeon Jo. This pharmacy, started by Frederick Merck, would grow into something extraordinary. Today, that same company - still 70% owned by the Merck family - has transformed into a global powerhouse with 63,000 employees across 65 countries. In South Korea alone, Merck operates 13 sites with over 1,700 employees. What Does Merck Do? Three Main Areas Explained Healthcare: Making Lives Better Think of Merck Healthcare as a problem-solver for some of life's most challenging health issues. They develop medicines for brain conditions, cancer treatments, and heart problems. One of their most impactful areas? Helping couples achieve their dream of having children through advanced fertility treatments used in thousands of clinics worldwide. Electronics: Powering Our Digital World Ever wondered what makes your smartphone so smart? Merck's electronics division is part of the answer. They create special materials essential for making computer chips and display screens. These materials help make our phones faster, our TV displays clearer (especially those amazing OLED screens), and even help power the computers that run self-driving cars. Life Science: The Innovation Engine This division is like a massive scientific toolbox with over 300,000 different tools and solutions. They help scientists and researchers develop new medicines, from the earliest stages of discovery to final production. Remember those COVID-19 test kits we all used? Merck provided key materials for those. They also supply tools for cutting-edge research like CRISPR (gene editing) and help make almost all of today's top medicines. The Future of Science and Technology Merck sees exciting changes happening in science: New ways to treat diseases using genetic approaches (like mRNA vaccines) Computers that can help discover new medicines faster Better understanding of our bodies at the tiniest levels New materials for electric cars Artificial intelligence making scientific work more efficient Korea's Outstanding Investment Environment Korea stands out globally as an exceptional destination for investment, with five key strengths that make it particularly attractive for advanced technology and life science companies: 1. World-Class Infrastructure Global leader in advanced infrastructure and processes Ranks 5th globally in digital competitiveness State-of-the-art physical infrastructure supporting business operations Advanced technological backbone for innovation 2. Innovation & Highly Skilled Workforce Ranks 1st in R&D talent density globally Leads OECD in R&D expenditure relative to GDP (4.8%) Highest university graduation rate among OECD countries (69%) Deep expertise in technology, science, and engineering 3. Global Link to the World Network of 21 Free Trade Agreements (FTAs) Business connections representing 85% of global GDP Incheon International Airport: 2nd globally for international air cargo Busan Port: 2nd worldwide for transshipment cargo volume Strategic location as an Asian business hub 4. Business-Friendly Environment Strong government support for international businesses Progressive OPEN Data initiatives Advanced AI integration policies Cutting-edge digital government platform Ambitious environmental goals: zero emissions target by 2027 5. Initiatives for a Sustainable Future Clear commitment to achieve net zero by 2050 Major climate tech investment: USD 10T planned by 2030 Leadership in renewable and nuclear energy advancement Focus on sustainable development across industries Merck's Investment Journey in Korea (1989-2024) Three Decades of Growth Merck's presence in Korea represents a story of continuous expansion and deepening commitment, marked by strategic investments and acquisitions: Historical Timeline 1989: Initial establishment in Korea 2002: Integration of Millipore, expanding life science capabilities 2007: Launch of LC production site in Songdo 2010: Advanced Delivery Center (ADC) establishment 2014: OLED Innovation Center opening 2016: Songdo Lab Center inauguration 2019: Integration of Sigma-Aldrich operations 2020: Integration of Versum Materials, strengthening electronics presence 2023: M Chemical Inc. acquisition, enhancing local capabilities Daejeon Bioprocessing Production Center: A Landmark Investment The new state-of-the-art facility in Daejeon represents Merck's most significant investment in Asia, demonstrating their long-term commitment to Korea: Facility Specifications Total Investment: €300 million Employment Target: 300 people by 2028 Facility Size: 43,377 m² Production Timeline: Starting 2026 Strategic Importance Located in Daejeon, Korea's "City of Science" Key partnerships with industry leaders: Samsung Biologics Lotte Bioscience Focus on advanced bioprocessing and cell culture media production Support for Korea's growing biotechnology sector Impact on Regional Development Creation of high-skilled jobs Technology transfer and knowledge sharing Enhancement of local supply chain Contribution to regional economic growth Global Collaboration: A Necessity, Not a Choice Karen Madden emphasized that in today's interconnected world of science and technology, collaboration across borders is not optional but essential. This philosophy is built on three key pillars: 1. Faster Breakthroughs Accelerated innovation through shared knowledge Combined expertise and resources Rapid development and deployment of solutions Synergistic research and development 2. Diverse Perspectives Enhanced problem-solving through varied insights More inclusive approach to innovation Cross-cultural creativity and innovation Broader understanding of global needs 3. Enhanced Resilience Better adaptation to global challenges Development of flexible, scalable solutions Stronger crisis response capabilities Sustainable long-term partnerships Future Vision and Impact Merck's investment in Korea represents a comprehensive commitment to: Strengthening their Asia-Pacific presence Supporting Korea's biotechnology advancement Enhancing regional manufacturing capabilities Fostering scientific collaboration Contributing to sustainable development Driving technological innovation Conclusion: A Partnership for Innovation Karen Madden's presentation at the Invest Korea Summit 2024 outlined more than just an investment strategy – it presented a vision for a deep, lasting partnership between Merck and South Korea. By combining Korea's exceptional investment environment with Merck's global capabilities, this collaboration creates a powerful foundation for future innovation and growth across multiple industries. The partnership exemplifies how international collaboration can drive scientific advancement and economic growth while addressing global challenges. As both partners continue to invest in cutting-edge technologies and sustainable solutions, their joint efforts are set to make significant contributions to the future of science, technology, and healthcare.

As presented by Daniel Seo, Investment Manager at 3M Ventures, giving us an insider's view from Silicon Valley The 3M Story: More Than Just Post-it Notes Think of 3M as a silent giant in our daily lives. While most people know them for Post-it Notes and Scotch tape, these familiar products are just the tip of an impressive iceberg. Here's what makes 3M remarkable: The Scale of Innovation Imagine a company so deeply woven into the fabric of modern life that you're never more than 10 feet away from one of their products. That's 3M. With: $25 billion in annual revenue - roughly the GDP of a small country 63,000 employees worldwide - a workforce the size of a small city 55,000 different products - from the bandage on your finger to the films in your smartphone Over 130,000 patents - more than many countries grant in a year 800+ brands and trademarks - each solving specific problems in our world To put their commitment to innovation in perspective, 3M invests: $1.8B annually in R&D - about $5 million every day to invent new solutions $1.6B in capital investments - building the future of manufacturing Three Pillars of Business Think of 3M as three powerful engines working together: Safety & Industrial  ($11B) Making work safer and more efficient Imagine every safety mask, every industrial adhesive, every protective coating that keeps workers safe and factories running Transportation & Electronics  ($9B) The invisible tech in your daily life From the films that make your car's dashboard readable in sunlight to the adhesives holding your smartphone together Consumer  ($5B) The 3M you know While this is the face of 3M we're most familiar with (Post-it Notes, Scotch Tape), it's actually their smallest division The Science Behind It All 3M's approach to innovation is like a master chef's recipe book: The Basic Ingredients (49 Technology Platforms) Organized like a periodic table of elements, but instead of chemical elements, these are technological capabilities Think of it as 49 different "superpowers" that can be mixed and matched to solve problems The Magic of Combination Here's where it gets interesting. Take adhesives, for example: In construction: Strong enough to hold buildings together In electronics: Modified to conduct heat in your smartphone In your office: Gentle enough to stick and re-stick Post-it Notes 3M New Growth Ventures: Betting on the Future Think of this as 3M's way of staying ahead of the curve. They've created a three-part innovation engine: The Innovation Triangle 3M Ventures (The Scout) Acts like a talent scout but for breakthrough technologies Invests in promising startups that could shape tomorrow's world Business Building Team (The Architect) Takes promising ideas and builds them into successful businesses Think of them as master builders of future 3M divisions R&D Technical Team (The Scientists) The wizards who make sure new ideas actually work Bridge the gap between dream and reality Real-World Success Stories Robots with a Gentle Touch Partner: GrayMatter Robotics What they do: Created robots that can sand and finish surfaces with the precision of a master craftsman Why it matters: Makes manufacturing more efficient while maintaining quality Fighting Climate Change Partner: Svante Mission: Capturing carbon dioxide from the air 3M's role: Providing the special materials that actually trap the carbon The Future of Computing Partner: Bead Origin (South Korea) What they do: Making semiconductor manufacturing more efficient Significance: 3M's first venture investment in Korea, signaling their commitment to Asian innovation Looking to the Future 3M's vision is ambitious yet simple: "Make what is indispensable." They're not just looking for the next Post-it Note; they're searching for solutions to humanity's biggest challenges: Making vehicles electric Fighting climate change Protecting workers Advancing computing Creating sustainable solutions With a special focus on Korea and Asian markets, 3M sees the next wave of innovation coming from this region, marking an exciting new chapter in their century-long story of innovation. This is more than just a corporate strategy - it's a blueprint for how a century-old company stays at the cutting edge, continuously reinventing itself and the world around us.