Female CEO Overcoming Limits... "Don't Rush, It's Okay to Fail" [2022 Women’s Forum]

Asia Economy Hosted '2022 Women Leaders Forum' K-CEO Session
Discussion with Chairperson Kelly Choi and Others on 'Korean Women Entrepreneurs' Global Market Strategies'

Hee-eun Park, Partner at Altos Ventures, Kelly Choi, President of Kelly Deli, I-rang Lim, CEO of Cony By Erin, and Amy Kim, CRO of PowerToFly, are having a discussion on the topic "Global (K-CEO) Korean Women Entrepreneurs' Strategies for the Global Market" at the '2022 Women Leaders Forum' held on the 19th at Lotte Hotel, Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Minwoo Lee] “No matter what stage you are at, don’t be too impatient. Everything you experience is part of the process that completes a big and long journey.”

At the '2022 Women Leaders Forum' held on the 19th at the Crystal Ballroom of Lotte Hotel Seoul in Sogong-dong, Jung-gu, Seoul, global women CEOs unanimously emphasized this point. It is a somewhat clich?d order to ‘not fear failure and keep challenging.’ However, it is also a weighty piece of advice drawn from firsthand experiences in the global business field.

Ultimately, Failure is the Seed of Success

Im Irang, CEO of Konibyeirin, quit her stable job to focus on childcare. When she left a growing company to raise her child, some viewed it as a failure as a career woman. However, it became the cornerstone of her success. The baby carrier she developed by incorporating her childcare experience became an essential item for mothers worldwide. CEO Im emphasized, “During the identity confusion period when I didn’t know why I had to work, the experience of throwing myself wholeheartedly into childcare and struggling, as well as many people I listened to or passed by, all helped me. I think the fact that the baby carrier I created based on my direct experience as a mother and by my own standards was successful overseas is in the same context.”

Kelly Choi, Chairwoman of Kelly Deli, a food franchise company that expanded its stage from Paris, France to Europe, was once an icon of failure. Dreaming of a clothing business, she moved to Seoul alone and nurtured her dream in a sewing factory. She moved from the sewing factory to Japan and then to France. After years of struggle in France, the result was a debt of 1 billion won. At one point, she even considered throwing herself into the Seine River but ultimately got back up. She said, “That moment was a turning point in life, and looking back, we grow when we fail and struggle. It is very important to fail a lot, quickly, often, and with little money.”

Amy Kim, Chief Revenue Officer (CRO) of PowerToFly, said the biggest turning point in her life was when she left Google. Despite overcoming the limitations of being a woman, especially an Asian, and achieving results in sales at a U.S. IT company dominated by white men, she suddenly left the company. She is now running hard at PowerToFly, which supports the development and advancement of women and minorities. Amy Kim CRO said, “If I hadn’t left a very smooth and stable company, if I hadn’t challenged myself, I might not have had the chance to do bigger things. Failure doesn’t mean the world ends; it becomes a learning opportunity,” she said with a smile.

Believe in Yourself, Act Quickly, and Challenge

They shared their secrets to success through their experiences. Chairwoman Kelly Choi emphasized that not being afraid and acting quickly was key. She recalled, “I met experienced employees of the German railway and fed them our product, sushi, naturally, treating them as I did when I was in Korea. In the end, among many companies, only we were remembered and were able to secure the contract.” She said that rather than awkwardly imitating foreigners, stepping forward confidently without fear was more effective. She especially stressed that one should not stop at thinking but must act. Kelly Choi said, “Many people think like professors but act like sloths and only quit like lightning. On the contrary, if you act quickly and challenge yourself, you can grow.”

CEO Im emphasized trusting one’s own standards. She said, “When making the first product, instead of setting the price and cost as industry practice and then making a product within that range, I made a product that customers and mothers would be most satisfied with based on my experience as a mother and then set the price. I believe that a product I trust and that is recognized in Korea can ultimately succeed beyond borders.”

Amy Kim CRO also said it is necessary to show one’s own colors. She explained, “When I, a 163 cm tall Asian woman, was leading the sales department, my subordinate was a white man in his 50s. At first, I thought a good leader was someone who tried to be like them, but rather, it was important to understand and communicate with them to achieve results.” She also pointed out that setting and realizing specific goals by period is important. She said, “In your 20s, invest in learning; in your 30s, grow by utilizing it; and in your 40s, enjoy the results. Regardless of industry or country, I hope various women become leaders in the global market to discover and uplift more talents.”