rePAPER’s CEO Met the Potential Promising Startup CEOs!

 

There was a special program held at ERICA Campus of Han Yang University on November 24^th. A class named ‘Integration of Start Up Culture and Art’ lectured by Professor Khong invited a CEO who founded a company and provided the graduate students practical advice and insights from the field. For the day, Cheol Yoon, the CEO of rePAPER, an environment-friendly paper coating solution company, was invited.

Mr. Yoon shared the story of how rePAPER overcame the difficulties as a startup and how it was able to grow and cooperate with major global companies for Plastic-free. After years of experience in the paper industry, he went to the States to do an MBA and focused on the eco-friendly trend in the global market. Mr. Yoon especially foresaw that the plastic commonly used for its cost-effectiveness and convenience would be facing the environmental issues. He then set up rePAPER to develop the paper coating technology to replace the conventional plastic products while recovering the environmentally friendly properties of paper.

With the years of R&D, he finally succeeded in developing RP-series, the coatings for paper-based products allowing them to have material and organic recyclability. Now he is aiming to apply the coating technology to not only food packaging but also industrial packaging and complete the cycle of resource circulation.

Mr. Cheol Yoon also referred the ‘innovation’ as a product or service that can be both invented and commercialized and that a sustainable startup would start from contemplating on a person’s core competency and finding a way to solve a customer’s inconvenience and needs efficiently. He mentioned that the business plan should include the considerations on whether it can easily persuade clients and if they can compete with other suppliers.

Lastly, Mr. Yoon shared the current status of the environment-friendly market and its growth. Because of the climate change and COVID19, the environmental issues have been involved in many international companies’ main strategy and plastic-free policies globally.

As the attendees were deeply interested in starting a business and some of them even had experience, they attentively listened to the 3-hour lecture. After the lecture, they asked for more practical advice on attracting the investment at start and how to deal with Death Valley while running the business. Mr. Yoon explained that it was very impressive to see the students’ eagerness and their thorough analysis and comprehensive understanding of the industry.

According to the report on the business released by National Assembly Research Service, one third of the newly established companies disappeared in a year and the rate goes up to 29.2% in 5 years. The survival rate is fairly low among the OECD countries. It shows that there are various hurdles to overcome various on the way even with outstanding ideas and technology. Although it is not an easy path, the governments and local entities are helping them in many ways by providing relevant information and financial supports. As the one who had been there, rePAPER cheers for everyone who has been standing on the start line to achieve their dream with their own business.