“I really thought a lot about whether to inherit my father's company. At the beginning of my employment, I wasn't even sure if this was the right path for me.”
Park Eun-hong, the representative of Youngchang Silicon, a manufacturer specializing in wires and cables, is an 'owner second-generation CEO.' However, the term 'inherited position' seems hollow as he spent quite a long time finding his own way.
On the 8th, Park met at the headquarters in Gasan-dong, Seoul, and said, “For several months, I asked myself every day, ‘Is this job right for me?’ After working closely with the employees, I eventually became convinced that this path is indeed my path.”
Youngchang Silicon is a small and medium-sized enterprise founded in 1986 by Park Hyun-woo. It has grown for nearly 40 years, focusing on heat-resistant silicone and industrial wires.
Park joined the company in 2009 and went through all departments, including production, purchasing, quality, and export, and he opened the era of second-generation management by taking on the role of representative in 2019.
“Before joining, I worked at a securities firm. Working externally gave me a sense of how heavy management really is. That’s why I hesitated more and tried to prepare more.”
Park's first achievement was achieved through a 'wealthy collaboration.' Since 2018, he has been involved in the development of cables for secondary batteries. This was a strategic decision to move beyond traditional industrial wires, adapting to changes in the mobility industry.
This project was conducted under the leadership of Park Hyun-woo, while the practical work was handled by Park. Afterward, with the assumption of office, Park established a mass production system, and currently, this business accounts for about 40% of Youngchang Silicon’s total sales.
“At that time, there were no secondary battery cable businesses at all. But in just five years, it has come to account for almost half of total sales. Our sales also increased from 12 billion won in 2019 to 20 billion won last year.”
Above all, Park finds the company's sustainability in 'people.' Youngchang Silicon’s management philosophy is 'employee first,' which has been passed down since his father’s time.
“The company exists because there are employees. Rather than the CEO unilaterally doing something, our style is to think together with the team about the direction, and the representative takes responsibility for important decisions.”
Equity succession is yet to occur. Park is preparing for a rational succession using the inheritance deduction system in the future. Park Hyun-woo is currently remaining as a management advisor to the company, playing a supportive role.
Park stated, “Based on the employee-first philosophy that has been passed down from my father, I will create the next 40 years of Youngchang Silicon.”