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Samsung SDI learns innovative spirit from fishcake maker

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Samsung SDI CEO Jun Young-hyun.
Samsung SDI CEO Jun Young-hyun.
By Baek Byung-yeul

Samsung SDI has established itself as one of the leading battery makers here, but the firm is not being complacent and is trying to learn from the innovative business transformation of other firms to pursue sustainable growth, the Samsung Group affiliate said Sunday.

In its recent newsletter for employees, the firm introduced Samjin Amook, a local fishcake maker, as a business model for successful transformation.

Founded in 1953, Samjin Amook has the longest history among the country's fishcake companies but it has remained relatively static until current CEO Park Yong-joon took control six years ago.

Although the fishcake maker faced a financial crisis and its factory operating rate tumbled, Park turned the crisis into an opportunity by expanding its business from business-to-business (B2B) to business-to-customer (B2C).

The firm had focused on the B2B market, but Park made the shift to B2C selling its fishcake products online.

The CEO also launched offline stores to promote the firm's quality fishcakes by enabling customers to taste freshly fried products. Thanks to these efforts, annual sales skyrocketed from 8.2 billion won ($7.1 million) to 92 billion won ($79.4 million) over the past six years.

Referring to this as an example, Samsung SDI CEO Jun Young-hyun urged employees to have an innovative mindset to develop the innovative technology and products to achieve a breakthrough in the market.

Samsung SDI said the battery business and the fishcake business had much in common because they both had to ensure their products did not have any defects and it was almost impossible to regain trust that has been lost.

"The employees said the story of Samjin Amook reminded them how important creative ideas and quality of products are," a company official said.

In response to the newsletter, Samsung SDI employees said it was important for a company and its staff to change their attitude and embrace changes.

"Samjin Amook has successfully made a paradigm shift by thinking outside the box. I think this is an attitude we need to have," an employee said.


Baek Byung-yeul baekby@koreatimes.co.kr


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