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2nd generation Chairman Son Jong-hyun’s wish to become a ‘100-year company’

Significantly strengthened global expansion from the third generation

In the Chungcheong region, there are many companies walking the path of longevity. It is a naive Chungcheong company that has overcome various crises and storms with a strong entrepreneurial spirit. They have grown to become the pillars of the Korean economy, going beyond the region, and have become heroes to revive the local economy in times of recession. Nevertheless, they are less documented and less remembered, and only the crisis they face today is highlighted rather than the successful era of success. Before the story of the founder became more blurred, the history of founding and the spirit of challenge that was heart-fluttering are included in the ‘Chungcheong Enterprise Annals’ in turn. Their 'success DNA' will be passed on to another Chungcheong company. editor

On March 1, 1950, his father, Chairman Son Jung-man (1st generation), established Manjung Co., Ltd. in Daejeon and started the casting business. I thought that casting, which makes metal products with hot molten iron, was important for the development of the Korean machinery industry. Seven years later, we have finally succeeded in producing Korea's first machine tool 'lathe'. In the 'Byokgok Pavilion' with his father's name, there is a product produced at the time and a bust of his father. Every time I pass it, the teaching is good. His father spoke like his habit. "In order for the domestic machine industry to develop highly, a domestic machine tool that cuts workpieces was needed. The reason that we were able to forge a technological alliance with Shizuoka, Japan, which is famous for 'milling', was that they respected their technology and showed 'humility' by bending their backs. It is thanks to you. Always be humble and cherish the relationship you have made once.” This was the real skill of 'Namseon Kigong', which has been walking the history of humility for 69 years.

◆ At the age of 39, after 16 years of business school

When we first exported 40 ‘shelf’ to Japan and the United States in 1979, my father was very happy. Because it was a miracle that Korea's machine tools were exported to industrialized countries. I don't know how many times I thanked Shizuoka, Japan. The Japanese machine tool workers I saw were honest and full of loyalty. My father passed away leaving behind valuable connections. It was the following year when ‘Manjung’ was converted into ‘Namseon Qigong’, a corporation. After majoring in business administration at Kyunghee University, I took business classes for 16 years, and my fatherless factory was empty.

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◆ Overcoming the crisis with strong employees

I paid attention to the flow of the times. After diversifying the development of next-generation machine tools, such as CNC (Computer Numerical Control), in 1991, Manjung Co., Ltd., a company specializing in machine tool casting production, was spun off in Okcheon, North Chungcheong Province, to solidify its position as a comprehensive machine tool manufacturer. We have expanded our sales network to Russia, Oceania, Americas and Europe. In 1997, he received the ‘1 Million Dollar Export Tower’. Of course, we overcame the crisis. In 1998, due to the financial crisis, customers went bankrupt one after another, and they overcame legal management. In 2009, even though sales fell to 9 billion won due to the global economic downturn, it rose again to 50 billion won. The reason that the factory, which used to be 4,530 pyeong, has increased to 14,000 pyeong, is thanks to the strong employees who have not left my side. The moment I was passing chocolates to the employees while walking around the factory was the real fun I had in building Namseon Machinery.

Jonghyun Son, Chairman of Namseon Machinery

◆ A 100-year dream passed down to three generations

I am 72 years old. I am still correcting It's thanks to the fun conversations I had with the staff while going back and forth between the headquarters and Mt. Gyejok. My son, who graduated from the University of Illinois in the United States from 2010 and was in charge of overseas sales at Mitsui Group in Japan, joined. He is the 3rd generation representative Son Yoo.

We developed a super-large machine tool (NS-RI7585) that can cut parts for nuclear power and wind power generation for the first time in Korea, and signed a contract to export watch processing machines (5-axis) to Piaget, one of the world's three largest watch makers. You have entered the heart of the European machinery industry. It has maintained its No. 1 market share in domestic milling and is reinforcing its global expansion. Thanks to this, I was selected as the '2017 Machine Tool Man of the Year'. Please, I hope that he and all of his employees will give strength to Namseon Qigong for more than 100 years.

I was grateful to the Japanese machine tool workers who passed on their skills, and the employees considered them family. I am very grateful to the local people who loved the indomitable will of local entrepreneurs and respected them. I want to spend the rest of my days supporting crime victims and devote myself to local devotion. There are people and there are businesses. If a business lives, we all buy.

Written by Eun-han Jeong, reporter padeuk@ggilbo.com

Photo = Reporter Jeon Woo-yong yongdsc@ggilbo.com