[Good Job SME]⑬ "We Only Sell Products Not on Amazon"... From 'Park Chan-ho Cream' to 'Jang Min-ho Cream'

PowerfulX, a Recovery Cream Manufacturer and Distributor
99% of Employees Are 'Team Leaders'... Establishing a Horizontal Corporate Culture
Introducing New Products Such as Protein Drinks and Wet Tissues

Park Incheol, CEO of PowerfulX, is explaining his company's products.

"If you say you buy Park Chan-ho Cream at highway rest stops nationwide, no one doesn't know it."

At the PowerfulX headquarters located in Nonhyeon-dong, Gangnam-gu, Seoul, CEO Park In-cheol immediately takes the company's product called 'Park Chan-ho Cream' in his hand and applies it to his neck. After about 30 seconds, the area around his neck feels warm as if a hot pack is applied. Soon, it feels like a cooling patch is loosening up the stiff muscles. The recovery cream does not have the pungent smell typical of such products, so there is no aversion. CEO Park said, "Clinical trials of the product have proven improvements in blood circulation and flexibility, as well as an increase in body temperature," adding, "This year, the ninth year of the business, cumulative sales have exceeded 100 billion won."

Park Chan-ho Cream is a product originally named 'Flex Power' used by Park Chan-ho when he was a baseball player in the U.S. Major League in the 1990s. It was often used before and after games for warming up or injury prevention. After retiring from his playing career and returning to Korea in 2012, Park Chan-ho signed an exclusive distribution contract for Flex Power in Asia and established a company called 'Flex Power Korea.' It was during this time that the product featuring Park Chan-ho as the model became famous domestically. Two years later, in 2014, CEO Park, who was in charge of distribution of Park Chan-ho Cream at the time, acquired the company. The company name was changed to PowerfullX in 2018.

CEO Park first entered business in 1999 by founding NetSports, an online leisure sports reservation company. After running the company for about eight years and then closing it, he remained interested in startups but things did not go as planned. Having witnessed several times how companies that initially did well stagnate as they grow, he eventually realized that a proper corporate culture is essential for a company’s longevity. CEO Park said, "The core of corporate culture is Agile and empowerment," explaining, "It is important for employees to have ownership, such as asking themselves 'If I were the boss, would I make this decision?' and to receive appropriate rewards when they achieve results."

Park In-cheol, CEO of Powerful X, is posing in front of the standee of singer Jang Min-ho, who was recently selected as the model for Recovery Cream.

Looking at CEO Park’s business card, his title is 'CCO,' which stands for Chief Culture Officer, the person responsible for corporate culture. His position is 'Daejang,' which means 'Captain.' It is a shortened form of 'Representative Team Leader.' All PowerfullX employees hold titles such as Captain, Vice-Captain, or Team Leader. CEO Park explained, "There are employees as young as 20 and as old as 64, but everyone is a team leader," adding, "We created this system to build a horizontal organizational culture and enable employees to work autonomously."

The business card also lists CEO Park’s hobbies and dreams. His hobby is collecting aquatic plants, and he has several aquariums with aquatic plants at the company. CEO Park said, "When handing out business cards, it should make an impact," and added, "Sharing dreams and hobbies increases intimacy with the other person."

Three years after acquiring PowerfullX, CEO Park led the company to rapid growth, surpassing 30 billion won in sales in 2017 and listing on the KONEX market. However, due to the impact of COVID-19, sales dropped to 20 billion won in 2020 and further to 13.3 billion won last year. Recently, PowerfullX appointed singer Jang Min-ho as the new model for the recovery cream and is working on a performance rebound. CEO Park said, "With the COVID-19 endemic phase starting this year, business is reviving," and forecasted, "Sales will reach 15 billion won this year and 30 billion won next year."

Park Incheol, CEO of Powerful X, is introducing the company.

Besides recovery cream, PowerfullX is engaged in various businesses related to leisure sports. Since last year, they have installed refrigerators in 1,000 gyms nationwide to sell protein supplements and other beverages. In 2021, PowerfullX launched its own protein drink brand called 'Pseam.' Next to the refrigerators, kiosks with monitors are installed for self-payment and various advertisements. CEO Park said, "If just one Pseam (1,000 won) is sold per day at every gym nationwide, annual sales would exceed 10 billion won," adding, "A recent advertiser who placed ads on the monitors was delighted to report that their sales increased fivefold compared to before."

When developing products, CEO Park’s key criterion is whether the product exists on Amazon. He believes that creating a product not found on Amazon increases the chance of success. He is developing various products such as a V-shaped golf putter and golf gloves that maximize finger movement. Soon, he plans to launch 'Aquaz,' a water wipe made with natural ingredients like witch hazel bark extract instead of preservatives, making it harmless to the human body. CEO Park said, "Typical water wipes contain 40 to 50 preservatives and additives, but we developed a water wipe that does not grow mold using only a combination of natural ingredients," expressing confidence that it will become another major source of revenue following Park Chan-ho Cream.