"Started a Business Out of Need as a Mother, Also Felt a Calling for Social Structural Change" [2022 Women’s Forum]

Asia Economy Hosted '2022 Women Leaders Forum' Challenge (START UP) Session
Discussion by CEOs Yeon Hyun-ju, Jang Seo-jeong, and Park Ji-hee on 'The Present and Calling of Women Entrepreneurs'

Yeon Hyun-joo, head of the Life Research Institute (from the left), Kim Na-ri, head of the Digital Design Team at Seoul Design Foundation, Jang Seo-jeong, CEO of Jaranda, and Park Ji-hee, CEO of Cocozzi, are discussing the topic "Challenge (START UP) The Present and Calling of Women Entrepreneurs" at the 2022 Women Leaders Forum hosted by Asia Economy on the 19th at Lotte Hotel, Jung-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Yoo Byung-don] “I have never thought of myself as a ‘female entrepreneur.’ I am simply an ‘entrepreneur’ like anyone else.”

At the ‘2022 Women Leaders Forum’ held on the 19th at the Crystal Ballroom of Lotte Hotel Seoul in Sogong-dong, Jung-gu, Seoul, startup CEOs gave gentle yet firm answers when asked about the limitations and advantages of being female entrepreneurs. Their remarks were a critique of a society that confines them within the framework of being women and warm advice to female entrepreneurs on the same level as themselves, as well as to countless junior women.

Clear Limitations, Women Challenging Them

Looking at domestic startup statistics, the proportion of female entrepreneurs is relatively low at 12.1%. This contrasts with the not insignificant 32.8% female ratio among startup workers. Only 31 female entrepreneurs have succeeded in attracting investments exceeding 20 billion KRW. The absolute number of female entrepreneurs is low, and the fact that female venture evaluators make up only 7% also has an impact. The path to female entrepreneurship in Korea remains challenging.

Yeon Hyun-joo, head of the Life Research Institute, is delivering a presentation titled "Challenge (START UP) The Present and Calling of Women Entrepreneurs" at the 2022 Women Leaders Forum hosted by Asia Economy on the 19th at Lotte Hotel, Jung-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

Yeon Hyun-joo, CEO of Life Research Institute, who gave a presentation that day, expressed regret, saying, “There are still not many female entrepreneurs, so I haven’t had many opportunities to meet or talk with them directly.” Jang Seo-jung, CEO of Jaranda, who participated as a panelist, also said, “I often received questions about the ‘glass ceiling,’ but until now, I thought I had never personally experienced it.” She laughed, adding, “Looking back now, I think I never even reached that point, so I didn’t feel it.” Jang said, “There were not many female senior entrepreneurs to seek advice from, so there were few opportunities. It’s regrettable that we couldn’t form close bonds, share concerns, and have active communication.”

Why Did We Start Our Businesses?

The three female CEOs participating in the session shared a commonality. All the services they offered were primarily used by women. Yeon’s Cheongso Research Institute (cleaning), Jang’s Jaranda (care), and Park Ji-hee’s Cocozi (education) were all businesses started because they were women and mothers. The driving force behind their efforts to break the glass ceiling and reach higher also originates here.

Park Ji-hee, CEO of Cocozzi, is discussing "Challenge (START UP) The Present and Calling of Women Entrepreneurs" at the 2022 Women Leaders Forum hosted by Asia Economy on the 19th at Lotte Hotel in Jung-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

Park Ji-hee, CEO of Cocozi, emphasized, “Although I always try to appear confident, as a working mom, I inevitably feel guilty toward my child. The top priority of my business is for working moms to feel happiness and satisfaction.” Jang also explained her motivation for starting a business, saying, “I wanted to create a flexible environment where women could catch both rabbits?work and childcare.”

Yeon also said, “As a mother raising three sons, I was exhausted from looking for helpers to take care of household chores, which led me to start the business.” She emphasized, “I started as a customer, but now I have a greater sense of mission in providing jobs to 80,000 managers.”

Work Proactively, For Yourself

They did not forget to offer advice to newcomers to the workforce, the so-called MZ generation. They also shared their views on the recently highlighted trend of ‘quiet quitting’ among the MZ generation. Regarding doing the minimum work because one’s heart has already left the job without actually quitting, Jang said, “Work should be done for yourself, not for the company.” She stressed, “If you work proactively and for your own career and achievements, you become an irreplaceable person. You need to become that kind of person.”

Jang Seo-jeong, CEO of Jaranda, is discussing "Challenge (START UP) The Present and Calling of Women Entrepreneurs" at the 2022 Women Leaders Forum hosted by Asia Economy, held at Lotte Hotel in Jung-gu, Seoul on the 19th. Photo by Kim Hyun-min kimhyun81@

Yeon also added, “In fact, ‘quiet quitting’ has existed for a long time. Recently, as individualism has become a hot topic, this phenomenon has become more pronounced.” She said, “You need to reflect on whether you can answer questions like ‘Am I really growing?’ and ‘Am I using my time well?’” Yeon added, “How you spend your time now will shape who you are in 10 years. If you truly value yourself more than the company, it is desirable to work hard for yourself.”

Park, who was also a co-founder of the delivery app ‘Yogiyo,’ had fears before starting her second startup. She said, “I hesitated because I knew how difficult the path was, but I felt a great sense of accomplishment knowing that I was at the center of creating an industry category that did not exist before and that I contributed to it.” She added, “Because I gave my best, I was able to achieve such results and could challenge myself once again.”

Kim Nari, Head of the Digital Design Team at Seoul Design Foundation (from left), Yeon Hyunju, CEO of Life Research Institute, Jang Seojeong, CEO of Jaranda, and Park Jihi, CEO of Cocozzi, are posing for a commemorative photo after a discussion on the theme "Challenge (START UP) The Present and Calling of Women Entrepreneurs" at the 2022 Women Leaders Forum hosted by Asia Economy on the 19th at Lotte Hotel, Jung-gu, Seoul. Photo by Kim Hyunmin kimhyun81@