"S Electronics → Start-up → Chairman of Soju Company" Cho Woong-rae made a successful turnaround with "5425" (neighbor millionaires)
May 15, 2025
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In the EBS and E-channel co-produced entertainment show 『Seo Jang-hoon's Neighborhood Millionaires" aired on the 14th, Cho Woong-rae, chairman of the soju company representing Chungcheong Province, appeared and met Seo Jang-hoon and Jonathan. Chairman Cho `I received two academic warnings when I was in college", he confessed his past, which was far from studying. Nevertheless, having worked at large companies such as S Electronics and L Electronics, he said, "After about three years, I felt like an accessory. So I moved to a small business and prepared for a start-up."
Chairman Cho tried to start a business with 20 million won at the age of 33. The initial business item was a mobile additional service such as mobile phone call connection sound '5425'. He was 30 million, but he blew it away in stock and left 20 million won. I also made and distributed flyers myself,' he recalled of the process of success. "It was possible because it was an idea business. I made a lot of money," he added.
Meanwhile, he jumps into a completely different industry, the liquor industry. "IT is too fast to change. I thought it would be difficult for individuals to endureIt acquired a local soju company in 2004 for 30 billion won, which had been suffering from financial difficulties. When Seo Jang-hoon asked "Did you earn more than 40 billion from "5425?" Chairman Cho surprised everyone by saying "I made more than "I made more than ."
Having started a soju business in an unfamiliar area with two employees, he said "There is a saying that if you ask, you can work." I was really in need. I've come up with a plan in that situation and I think it's life to make up for the shortcomings." "Soju is also food. I thought we should see the game through taste. "We went head-to-head with just one product power and greatly increased our market share in a year."
Chairman Cho also said, `We need a strategy to survive the competition with large companies. I saw that there was definitely a gap in the soju industry, and I thought I should have the power to poke through that gap."
mj.cho@sportschosun.com
