Twenty years ago, a man acquired a soju company by paying 30 billion won in cash. He is now known as the 'barefoot chairman' who created a 20 billion won clay road.
On the 14th, EBS's entertainment show 'Neighbor Millionaire' portrayed the surprising life story of Cho Ung-rae, chairman of the soju company.
He revealed a home with a neat interior and shared a genuine story, noting that he was actually a former IT expert from a large corporation. Chairman Cho said, "When I was in the IT industry, the pace of change was so fast that I was exhausted," and recalled, "At that time, a soju company unexpectedly came up for sale, and I seized the opportunity without hesitation." He was 46 years old at that time and had only two employees.
Above all, what is surprising is the confession that he "bought a soju company worth over 30 billion won in cash without a loan in 2004." He added, "Even after paying it all, I still had cash left. It was over 40 billion won in earnings 20 years ago," as he opened up about his past.
Chairman Cho emphasized, "I never dreamed I would do business in Daejeon. Poverty made me strong, and filling the voids of deprivation and desire was life for me. In a crisis, I had to create space for growth and differentiation."
Regarding the clay road he developed for 20 billion won, he explained, "This is not my land. It has 0% equity," adding, "Everyone thinks it's my land, but it's owned by Daejeon Metropolitan City." He continued, "I wanted to give back to consumers. If it became a space for healing the heart, that would be rewarding enough."
Seo Jang-hoon, who challenged himself to walk barefoot on the clay road, admired, "Even someone as neat as me can walk on this road," and Chairman Cho conveyed his unique philosophy by saying, "Even in death, I will tell my children, 'Make sure to lay down dirt.'"
A man who started a business with 20 million won at the age of 33 and acquired a company for 30 billion won in cash at the age of 46. His life drama is still ongoing.
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