A young high school student made more than an average salaryman by pursuing his passion for blog marketing since middle school. This young boy then set up his career path in 2013 by creating his own Internet business after serving military service.
He was 27 years old when he started his company using his blog marketing experiences. This is the story of Choi Joon-ho, CEO of Elsol Company (ELSOLCOM) which reached 10 billion won in sales in the first half of 2018.
ELSOLCOM operates a brand publishing platform that includes planning, design, distribution and marketing stages to shorten the period for domestic brands to hit break-even point.
‘Project REDI’ is ELSOLCOM’s major business model that supports start-ups to become sustainable businesses while sharing profits through early and thorough collaboration.
This year, ELSOLCOM has already found success in launching REDITO, REDINK and RETTEB services within Project REDI. REDITO is a combined alliance marketing platform that satisfies both marketer and advertiser. REDINK is a total mentoring service for start-ups, and RETTEB is a curated commercial platform that targets wellness-oriented consumers.
Additionally, ELSOLCOM announced the development of INFLEUM. INFLEUM is an open-source brand publishing platform that accurately measures participation value and disburses corresponding benefits to all contributing participants in all stages of start-up development: investment, production, development, marketing, commerce and payment.
To support the community, ELSOLCOM spearheaded the establishment of the Blockchain Finance Association. ELSOLCOM will serve as a hub for blockchain industries by establishing regulations and policies related to the blockchain and creating networks that connect organizations and experts to better foster human resources in the industry.
When asked about the secret to his company’s early success, CEO Choi explains, “The secret is a corporate culture that values employee relationships and communication based on respect.” ELSOLCOM respects individual lifestyles so that employees can think creatively without being tied to corporate formality.
Flexible and shorter working hours is an example of ELSOLCOM’s respect and responsibility given towards their employees. Another incentive is profit-sharing with the entire company if ELSOLCOM’s 2018 sales target of 40 billion won is met by end of this year.
“The only thing I emphasize to ELSOLCOM’s 78 employees is that I want them to work creatively while I provide them the welfare and salary of a corporation. My greatest interest is the welfare of my employees and I hope to give them happiness at work,” says CEO Choi.