Sales still strong, new chairman Park says; Für Elise in the warehouse
Despite an economic crisis that’s hitting South Korea harder than nearly every other East Asian nation, the Seventh-day Adventist Church’s Sahmyook Foods health food company in South Korea is strong despite varying sales from month-to-month, its new chairman says.
Park Shin Kook last month was appointed as chairman of the 34-year-old company that holds more than a quarter of the market share of health foods. Its offerings include 15 types of soymilk, several meat protein substitutes, noodles and drinks.
A visit to the company’s headquarters outside of Seoul in Cheonan—a region known for its vast vineyards and pear orchards—highlights the company’s global reach. Much of the 9,000 tons of soybeans it uses each year come from China, Russia and North America. And while Korea is its biggest market, 60 percent of its export business is in the United States.
Park, 46, holds a bachelor’s degree in business administration and a master’s in theology, both from the church’s Sahmyook University in Seoul. He previously served as vice president, overseeing manufacturing and operations of the company that employs 320 people.
The new company chairman corresponded with ANN last week through e-mail. Some excerpts have been edited for clarity:
Adventist News Network: Sahmyook puts Bible verses on its products. Are you a mission or a business?
Park Shin Kook: We do seek profits and these profits are invested in the mission. Therefore we are a mission as well as a business.
ANN: Do consumers know that the Adventist Church is behind Sahmyook Foods?
Park: Of course. Some members of other denominations try not to buy our products.
ANN: China recently experienced an image problem with unsanitary food products, particularly tainted milk. What is Sahmyook’s approach to sanitary procedures?
Park: We have extensively prepared for food safety standards so we never ever disappoint our customers. We are proud that we are the first in terms of quality and received an award from the South Korean government for this.
ANN: Do people in North Korea know about Sahmyook foods?
Park: We have sent Sahmyook products to North Korea. I have heard that some people [there] know about Sahmyook products, especially our soy milk.
ANN: What is the company’s growth strategy?
Park: We are trying to focus on quality management, so that we receive [high ratings] with our government certificates and keep winning the [confidence of consumers]. We have received best awards for business administration among Korean companies every year since 2004. That’s five times. Also, a new marketing system for predicting [trends] has been developed. Niche markets will appear and it’s very important which company enters those markets first. Buyers’ purchasing patterns are changing from small to big markets. So we have made special teams for departmental stores.
ANN: Are your sales down because of the world economic situation?
Park: Our sales have actually grown 6 percent compared with last year.
ANN: What kinds of growth opportunities do you have for workers, particularly young workers, for development and training?
Park: We emphasize education a lot. Two workers received doctorate degrees this year and most executive officers aim to study at a higher-level school.
ANN: The South Korean won is currently weak against the U.S. dollar. How does this affect the company?
Park: We pay for some of our packaging in U.S. dollars. We import some of our soy paper from Thailand and it has little influence paying in dollars. Of course the situation is affecting us, but it’s not very serious.
ANN: What is one of your management philosophies?
Park: The food business is a ministry that God is with. The most important thing is the faith of workers toward God. Also we need to educate workers continuously. I believe that [providing training for] workers decides the future.
