"Exports Up 2.5 Times": The Secret to One SME's Growth Was Korea Economic Association's Management Consulting

Korea Economic Association Visits Cheongwoo Core
Chairman Ryu Jin: "SMEs Must Grow"
Management Advisory Group Provides Direct Consulting
Passing Down Large Company Experience to SMEs

"The future of our country depends on the growth of small and medium-sized enterprises."

Ryu Jin, chairman of the Korea Economic Association, made this statement on October 20 during his visit to the headquarters of Cheongwoo Core, a paper tube manufacturing company in Pyeongtaek, Gyeonggi Province. Founded in 1987, Cheongwoo Core began receiving consulting from the Korea Economic Association's management advisory group in 2023 by participating in the association's Management Doctor program to address stagnant sales. Over the next two years and seven months, Cheongwoo Core implemented solutions provided by the association's advisors, resulting in a 2.5-fold increase in export volume and a sales increase of approximately 1 billion won (16.9%) from 2023 to 2024.

The growth in exports was driven by the advisors' recommendation to closely analyze the needs of client companies. Lee Donggyu, CEO of Cheongwoo Core, who presented the company's achievements, explained that they conducted around 60 consulting sessions after joining the Management Doctor program. He said, "We boosted sales by strengthening promotions for overseas clients," and added, "We also took proactive measures to address U.S. tariff issues, which helped reinforce our partnerships with clients."

Ryu Jin, chairman of the Korea Economic Association, is visiting Cheongwoo Core Co., Ltd., an excellent management consulting company located in Pyeongtaek, Gyeonggi Province, on the 20th, touring the manufacturing facilities. Korea Economic Association.

For example, when U.S. clients expressed concerns about the 15% reciprocal tariff to be imposed on exports to the United States starting in the second half of 2025, Cheongwoo Core proactively proposed a plan to share the tariff burden. Under this plan, based on the 15% tariff rate, Cheongwoo Core would lower its unit price by 8%, leaving only the remaining 7% for the client to bear. Although this price reduction resulted in some losses, clients increased their orders with Cheongwoo Core due to its price competitiveness compared to other companies.

Additionally, to develop new sales channels, the company conducted promotions targeting buyers in Eastern Europe and achieved its first shipment to a Hungarian client. Thanks to the Korea Economic Association's professional consulting and Cheongwoo Core's efforts, the company's overseas export volume increased 2.5 times compared to before the consulting began.

Ryu Jin, chairman of the Korea Employers Federation, is delivering a greeting on the 20th during his visit to Cheongwoo Core Co., Ltd., an excellent management consulting company located in Pyeongtaek, Gyeonggi Province. Korea Employers Federation.

Following the advisors' recommendation, the company also applied for the Ministry of Environment's "Smart Eco-Factory Construction Project" and received government support. CEO Lee stated, "With government support, we established facilities to reduce greenhouse gas and air pollution emissions, and we decreased oxygen emissions to comply with environmental regulations." He added, "By fully implementing an ESG (Environmental, Social, and Governance) management environment, we aim to become a responsible company."

Advisors with corporate backgrounds provide direct consulting to small and medium-sized businesses based on their work experience. CEO Lee emphasized, "The biggest strength of the Korea Economic Association's consulting is that it provides customized solutions that can be immediately applied on-site," and added, "Because the advisors are involved throughout the implementation process, we were able to achieve real change."

On this day, Vice Chairman Kim Changbeom, Center Director Chu Gwangho, and the management advisory group visited Cheongwoo Core together with Chairman Ryu, touring the production site with the company's management and receiving explanations about the manufacturing process. They observed the entire process, from receiving raw paper and base molding to compression, cutting, and packaging, for the production of extruded coated paper tubes.

Chairman Ryu remarked, "Last week, I had a meeting with Keidanren (Japan Business Federation), and they said that 80 to 90 percent of Japanese companies are small and medium-sized enterprises, which is the strength of the Japanese economy. In contrast, our country is dominated by conglomerates and large companies." He added, "Poongsan Group also started small in the beginning. If we combine efforts with the advisors, we can achieve even better results."

Ryu Jin, chairman of the Korea Employers Federation (ninth from the left in the front row in the photo), visited Cheongwoo Core Co., Ltd., an excellent management consulting company located in Pyeongtaek, Gyeonggi Province, on the 20th and took a commemorative photo with the related personnel. Korea Employers Federation.

The Korea Economic Association reported that the number of applicants for the advisory group more than doubled this year compared to last year. As a result, the association plans to expand the advisory group beyond last year's 25 members. On this day, advisor Kim Younghwan said, "It was rewarding and inspiring to be able to work closely with Cheongwoo Core's management team," and added, "We have faced the same challenges in difficult business environments. Rather than being a one-off, we will combine all our capabilities and experience to create synergy so that Cheongwoo Core can grow into a candidate for a mid-sized company."