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Among the CEOs are young and talented individuals who ventured taking the challenge. And they might not realize their fledgling careers can inspire those wondering what the entrepreneurs are like outside workplaces, what they usually think off-duty, and how their businesses will shape their lives.
Because we understand such a personal realm can mean a meaningful impact for many, The Korea Times has come to begin "10 Questions for Startup CEOs," a relay interview series for those aspiring figures. The interviewees are selected by their antecedents. Think of this as the "ice bucket challenge" without ice buckets. ― ED.
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| Park Byung-jong, CEO of Callbus, offers the best rental prices for buses and minivans in Korea through the company's mobile platform. Courtesy of Callbus |
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| Callbus' mobile app shows a list of self-filtered options for buses and drivers to choose from. Courtesy of Callbus |
Callbus is a bus-and-driver rental business. When you rent a bus in Korea, chances are you don't know in advance how much that costs exactly, what your bus will look like, or whether your driver is not a psychopath. At Callbus, you can enter the destination and date of use and, in just five minutes, get seven optimal options to choose from out of 4,000 drivers and 250 bus rental companies nationwide. The bidding-based selection system offers prices 20 percent lower than market rates. In addition to the perks, you can choose a bus you actually want and a driver recommended based on clients' ratings and feedback.
2. WHAT I DO OUTSIDE THE OFFICE
I try to be as much a family man as I can, looking after my child. When I get lucky with even more extra time, I read a variety of books that help me with business.
3. MEMORABLE MOVIES OR BOOKS
Rob Moore's self-help book "Life Leverage" touched my heart deeply with lessons about "comparative advantage." I was already familiar with that term but realized that it hasn't been quite shaped into practice in my life. I finally took it seriously when I hired someone to do house cleaning that both my wife and I hated but reluctantly did every weekend. After the housekeeper was called in, in exchange for a sumptuous fee for not too long a time, my family went out for a lovely brunch. I learned from the experience how to spend money and time wisely.
4. WHAT GOT ME INTO STARTUP
I used to work for a local economic newspaper. When I wrote for the world department, I used to work late, until two in the morning, and tried to hail a cab but was often ignored by drivers. Swearing I will do something about it, I moved to the IT/science department where I covered global internet companies and startups. There, I realized that many startups' technologies and their pioneering spirit actually changed people's lives. It got me to pondering about the time I used to get rejected by cabs and subsequently got an idea that I could solve this with my own startup. Many advised me not to do such an extremely difficult venture. But I wanted to live by my own words ― I used to glorify startups as a journalist. Ending my three-year journalism career, I launched the night car-sharing service "Callbus" in August 2015.
5. PROSPECT FOR MY INDUSTRY
The mobility industry is the fastest-changing sector of all. It's also where the sharing economy can be most effectively put to use. Thanks to artificial intelligence technologies, autonomous vehicles are shaping up fast and, once commercialized, will boost the mobility service market. Callbus, dedicated to buses and vans in the market, flies high above domestic rivals. With no standout player on the global stage either, Callbus will fare well internationally, too.
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| Callbus originally started as a nighttime car-sharing service provider. The business shut down due to government regulations and criticism from taxi operators. Courtesy of Callbus |
6. UPSET AT WORK RECENTLY?
Nothing in particular. Although I regret that I recently gave an earful to one of the employees I specially care for. It was unnecessary. A CEO's words affect many and I must be extra careful and sympathetic to others.
7. I WARN MYSELF MOST FROM...
A meaningless life. I have been thinking a lot about how to make my life worthwhile. People have their own lifetime goals or significant values. For me, I want to be remembered as an innovator who provided people with a better lifestyle. I will welcome various challenges and live an awesome life I will never have again.
8. ADVICE TO ME
My first startup, a nighttime car-sharing service provider, was forced to shut down because of government regulations and criticism from taxi operators. It was a big blow to my lifetime challenge that I had ventured into at the expense of my journalism career. I had money in my pocket, just enough for another five months, and my baby daughter was coming in two months. I couldn't think straight. At the crossroads, meanwhile, I didn't let my hard emotions spill out in front of employees. Eventually I decided to keep the business' name Callbus but transitioned to a bus rental fee-comparing service. Since the new business was launched in April 2017 as a bus rental comparison platform, its growth has been steady, past the break-even point.
9. IF MY COMPANY WENT BANKRUPT
I don't think such a consequence will ever occur but, if I must, I will get right down to starting another business. One thing I learned from business operation is that success is impossible without tasting failure. Success is a tiny boulder atop mounting failures. We must admit that failure isn't bad but rather a prerequisite to success. A bankruptcy means another experience merits and is a good cause for a fresh reboot. The underlying condition to do all that, however, is that society must accept such a reboot. Today, being a loser once leads to being branded a delinquent borrower. No success story will be made in a country where being once a loser is equivalent to a lifetime loser.
10. MY EPITAPH
"Forever undead, buried here"
I have been stuck with the wonder why I live when I am already destined to die. In the end, I concluded with the statement "I will never die," meaning my body may perish but my achievements and philosophies will be passed on to humanity throughout generations. I believe that achieving an ambitious goal makes my life meaningful.
Park Byung-jong designates ITS Factory CEO Jang Deok-gi
