[Interview] Park Kyung-rae, CEO of Win&Win
2024 Paris Olympic medalists Kim Je-deok, Nam Su-hyun, Lim Si-hyun, Jeon Hun-young. Jang Hye-jin, who won a gold medal at the Rio Olympics. An San, who secured gold at the Tokyo Olympics. They all share one thing in common: they won gold medals by drawing WIAWIS bows. The bows held by the athletes aiming at the target bear the brand name WIAWIS. WIAWIS is South Korea's representative bow made by the Korean small and medium enterprise WIN&WIN.
On the 7th, we met CEO Park Kyung-rae at the WIN&WIN headquarters in Anseong, Gyeonggi Province. CEO Park is a first-generation national archery team member and former coach. He was appointed coach of the men's national team in 1984 and achieved a legendary run by winning gold medals in the men's team event at the 1985 World Championships, the 1986 Seoul Asian Games, and the 1988 Seoul Olympics. In 1990, he became South Korea's first permanent head coach for both men and women, continuing the gold medal legacy. Now, he is the CEO of the company that produces WIAWIS bows used by 65 of the 128 archery athletes competing in the Paris Olympics. His success story, transforming from an athlete to a business leader, has become the inspiration for a drama scheduled to air next March.
In an interview with Asia Economy, CEO Park emphasized that life is about 'challenge.' Despite enjoying the highest treatment as a coach, earning an annual salary of 100 million won and riding a wave of success, he left his position in 1993 to make bows, driven largely by the power of 'challenge.' Although there were many ups and downs, WIN&WIN now stands shoulder to shoulder with Hoyt, a bow manufacturer with over 100 years of history. They have filed 46 patents through their research on bows. The excellence of their products is recognized by athletes in 30 countries overseas. Ninety-five percent of their sales come from exports. CEO Park said that out of last year's 26 billion won in sales, 18 billion came from bows and the remaining 8 billion from the bicycle business.
CEO Park’s experience as an athlete and coach helped him in making bows. He said, "All CEOs of sports brands like Nike, Adidas, and Wilson are former athletes," adding, "Because of their deep understanding, sportspeople inevitably make better sports equipment." Athletes were the first to recognize the excellence of the products. At the 1999 World Championships in Lyon, France, two athletes, Lee Eun-kyung and Hong Sung-chil, won gold medals using WIAWIS bows. Then, at the 2000 Sydney Olympics, Oh Gyo-moon and Yoon Mi-jin showcased WIAWIS bows. CEO Park considers this period a golden era. Luck continued to follow him. He seized the opportunity to expand into the Japanese market. In 2002, Yamaha announced it would discontinue its bow business, and WIN&WIN acquired it, gaining upgraded carbon technology. Since the 2004 Athens Olympics, the Japanese national team has used only WIAWIS bows.
CEO Park regards 1972, the year he started archery, as a turning point in his life. As a high school student at the time, he heard on the school broadcast that a national youth sports competition was being established and started archery out of curiosity. Within two years of starting archery, he set a Korean record at the comprehensive championships, won the individual event, and became a national archery team member. However, due to various reasons, international competition participation was difficult then. This led him to the path of coaching. He was so passionate that he self-studied Japanese for a year to study archery education and training materials written in Japanese. Last year, he received the Best Coach Award at the '60th Anniversary of Korean Archery' event.
For CEO Park, who reached the world’s number one position with bows shot by gold medalists, now marks another turning point. WIAWIS’s other main product, bicycles, is gaining momentum. Based on the technology and know-how developed from making bows, he expanded into the bicycle business 10 years ago. They produce bicycles suitable for cycling and BMX athletes, not just aluminum bicycles.
WIAWIS bicycles are also active in cycling disciplines. Lee Hye-jin, who won South Korea’s first-ever gold medal in women’s keirin at a Track World Cup event, rode a WIAWIS bicycle in the women’s keirin final at the 3rd UCI Track Cycling World Cup held in Hong Kong in 2019. At the 2024 Paris Olympics, athletes from Japan, Switzerland, and South Korea will ride WIAWIS bicycles in cycling and BMX events. Currently, over 90% of elite athletes belonging to domestic corporate teams ride WIAWIS bicycles.
CEO Park said, "I am confident that we can make better bicycles to enhance athletes’ performance," and expressed his determination, "WIN&WIN will continue to challenge itself tirelessly to become South Korea’s representative sports equipment company."
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