Dr.G Brand Renowned Gounsaesang Cosmetic
Lee Juho Joined the Company as COO in 2014
Publication of "Protectorship - We Are Each Other’s Support"
Personal Story of Comeback Built on Reading 1,000 Books Included
Lee Ju-ho, CEO of Gounsaesang Cosmetic (Gounsaesang) (pictured), identified the core of Gounsaesang as a "community that protects each other." It is somewhat unexpected that a cosmetics company pushed into a red ocean of competition would present community as the key to success. However, Lee is confident that Gounsaesang was able to grow through a "miraculous unity." Founded in 2003 by dermatologist Dr. An Geon-young, Gounsaesang has grown by leading the first generation of dermocosmetics (functional cosmetics used in dermatology) with the brand "Dr.G."
Joining Gounsaesang as Chief Operating Officer (COO) in 2014, Lee asserted in his book Protectorship that "no matter how much you force results in an environment where performance cannot be achieved, you will not get the expected outcome." The book title, Protectorship, borrows from the English word ‘protectorship’ (meaning the status of a protector or sponsor) to signify a relationship where people protect each other and grow together. If a company respects its employees as human beings rather than viewing them as costs, the company can grow together with them.
Lee Ju-ho, CEO of Gounsesang Cosmetic, is giving a lecture on the theme of "Corporate Culture and the Virtuous Cycle of Women's Careers" at the 2024 Women Leaders Forum hosted by Asia Economy on the 30th at Lotte Hotel in Jung-gu, Seoul. Photo by Kim Hyun-min
Lee believes that according to Maslow’s hierarchy of needs, if a company satisfies employees’ basic needs, they can focus on higher-level needs such as self-development and growth. He emphasized that if a company protects and helps employees grow, everyone can win together. This is why Gounsaesang calls its various welfare programs for employees "protection systems."
Gounsaesang implements various systems to balance work and life, including a 7.5-hour workday, up to two years of guaranteed parental leave, full-time remote work available when a family member is ill, and treatment cost coverage up to 100 million KRW in case the employee is sick. Unnecessary internal competition is also rarely found.
Gounsaesang’s past records prove that Lee’s management philosophy was not wrong. The company’s sales increased 22-fold over 10 years. This was achieved despite the worst recessions, including the COVID-19 pandemic, with 34 consecutive quarters of growth. At the same time, the total fertility rate of Gounsaesang employees reached 2.7 as of 2022. For five consecutive years, it was selected as "the best company for parents to work in South Korea" and "the best company for millennials to work in South Korea." Last year, Gounsaesang was abruptly acquired by L’Or?al, the world’s largest cosmetics company.
While the management achievements of Gounsaesang introduced in the book are fascinating, the inclusion of Lee’s personal story makes it even more compelling. As a result, the book goes beyond simply introducing management know-how and takes on an autobiographical character.
Lee candidly shares his recognition needs stemming from childhood trauma due to domestic violence and the process of realizing and overcoming it. He also confesses his experience of being demoted to a production worker at a provincial factory in his forties after taking responsibility for a wrongful contract, during which he suffered from panic disorder and depression.
Reading 1,000 books helped him lay the foundation for his comeback, and Lee’s philosophy on life is also reflected in the book. His wife’s words from over ten years ago, "Don’t think about writing a book; live your life so that it becomes a book," have finally come true.
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