Martial Arts World News Magazine - Volume 22 | Special Edition

COVER STORY
MAWNews: Would you briefly introduce
yourself to our readers?
SMK: I was Born in Seoul, Korea in
February of 1964. I grew up in Korea and
started learning Taekwondo when I was 12
years old. After graduating from Dongguk
University’s Department of Trade, I got a
job in a trading company and went to the
United States to study abroad in 1991. At
that time, I gained a 4th Dan and Instructor
Certification from Kukkiwon. Thinking that I
should continue my studies abroad, I went
on further to get an MBA in Business Administration
in Orlando, Florida, and forged
a Taekwondo Dojang business into a
great success.
After returning to Korea in 1997, I
started working at a German Company
called the Osram Lighting
Company. Then in 2001, I established
a company called
Martial Arts World Korea,
and also ran a company
that developed
and disseminated
advanced management
techniques
of Taekwondo and
programs for success in
the Dojang. Later on, I stopped
the Martial Arts World Business and
changed industries, moving to a lighting
firm. I expanded the business to the manufacturing
sector; from R&D, production, and
sales, and built a successful business in
that sector.
MAWNews: Every business faces challenges,
what are some of the challenges
you’ve faced in your time building such a
successful business.
SMK: If I had to pick one of the most
memorable and difficult times since I began
in business, it would be speaking in Korean
in September 2008. I can’t forget the
Lehman Brothers crisis that started around
the end of the Chuseok holiday.
Four negative factors impacted the
business:
First, an increase in raw material prices
led to an increase in prices.
Second, costs and margins fell due to
the sharp rise in the exchange rate.
Third, a sharp decline in sales due to a
decrease in market demand.
Fourth, sales and sales’ promotion were
challenging and the collection of money
became more difficult.
I remember being pushed to the limit, I
almost gave up on the business as all these
factors combine into the “Perfect Storm”.
38 MARTIAL ARTS WORLD NEWS VOLUME 22 | SPECIAL EDITION