Sharpening Competitiveness of Small Companies

A lecture to celebrate the publication of “The World’s Best Mini Companies” was held at the Korea Institute of Science and Technology at 7.30 p.m. on Thursday. The book is a collection of articles titled “The World’s Best Mini Companies” featured by this newspaper this year.

Around 150 people, including CEOs of small companies, employees, and college students attended the lecture to listen to the know-how that the CEOs introduced in the book, and to reporters who introduced “small but competitive domestic and foreign firms.” The event was hosted by the Korea CEO Institute and Dong-A Daily, and sponsored by the Korea Medium Industries Association and the Online Management Community Association.

Lee Yeong-gyu, the CEO of Eunsung Corporation, a manufacturer of fine thread living goods, said, “We need to pioneer a new market by changing our thinking. By taking advantage of being small, small companies can gain greater competitiveness that big companies have.” Lee mentioned three strengths of small firms: the concentration that employees can show in one sector; fast decision-making processes; and an ability to find the niche markets that big companies miss.

Song Ho-geun, the head of YG-1, a cutting tool manufacturer, told a story related to pioneering new overseas markets. Song said, “Managing a business is being responsible for one’s employees. Even when I had to drive 1,200 km from Germany at 4.00 a.m. to Switzerland at 10.00 p.m. to talk to buyers, I wasn’t tired at all. I enjoyed it.”

Shin Chi-yeong, an economy reporter for this newspaper whose stories are featured in the book, said, “I wanted to motivate the younger generation that dreams of being future CEOs as well as the CEOs of small companies by telling the success stories and secrets of successful businessmen who became the world’s best with entrepreneurship and passion.”

Kim Dong-yeon, 57, the CEO of Dongshin Toolpia, a retail company that sells tools, attended the lecture with his son who works in the marketing department of his company. Kim said, “A successful person has something different. I came here to teach my son, the future successor of my company, the know-how of successful businessmen.”

Choi Seung-gwan, 27, an employee of SK Communications, said, “I want to be a CEO. Because I wanted to listen to the first-hand experiences of entrepreneurs, I came right here on my way home after work.”

“The World’s Best Mini Companies” received the “Good Planning Award Chosen by Advertisers” in 2007, and is now in its third printing after gaining a good response from readers.

parky@donga.com sublime@donga.com