The narrative revolves around the life and business journey of Baek Jong-won, a South Korean entrepreneur who rose to fame as the owner of a popular ssambap restaurant. Born in 1966, Jong-won developed a keen sense of taste from a young age, which led him to work in various food-related jobs, including selling cars and managing a pub.
In 1993, he opened his first restaurant, where he introduced a unique way of serving ssam, a Korean dish made of cooked or raw vegetables mixed with rice and usually seasoned with fish sauce or spicy pepper paste. The restaurant gained popularity, and Jong-won's innovative approach to business and cooking led him to open more outlets.
In 1996, Jong-won applied for a patent for his thinly sliced pork belly, which became a popular dish at his restaurant. His business flourished, and he expanded into other ventures, including interior design and the construction of wooden houses.
However, in 1997, the Asian financial crisis caused a sharp decline in the value of the Korean won, leading Jong-won into severe financial difficulties. He managed to repay his debts through the sale of his Light and Ssambap Restaurant, which he had named after his first two ventures, and vowed to restart his business.
Jong-won's story is a testament to his resilience and entrepreneurial spirit, as well as his innovative approach to food and business. His journey from a struggling restaurant owner to a successful businessman provides valuable lessons on the importance of perseverance and innovation in the world of entrepreneurship.
Here are the key facts extracted from the text:
1. Baek Jong-won was born on September 4, 1966.
2. He was born to the vice principal of Yesan Agricultural High School and a homemaker.
3. Jong-won grew up in a family that loved food and would often visit multiple restaurants in one trip.
4. His father would bring him snacks from rest areas, and Jong-won could guess where his father had been based on the snacks.
5. Jong-won developed a special sense of food from a young age and could advise on how to eat a hamburger deliciously.
6. In his fourth-grade year, Jong-won collected empty bottles from a school picnic and sold them, earning a significant amount of money.
7. After graduating from Seoul High School in 1985, Jong-won started working part-time selling used cars.
8. He sold six cars in a few days and thought being a used car dealer would be his calling, but he quit after a customer complained about a car he had sold.
9. Jong-won joined the military in 1989 and served as an artillery officer.
10. During his military service, Jong-won discovered that market prices for vegetables plummeted on rainy days.
11. After being discharged from the military, Jong-won started an interior design business, but it didn't work out.
12. He then started a ssambap restaurant in April 1993, which became successful.
13. Jong-won developed a special soy sauce sauce for dipping pork belly and discovered that dipping the meat in the sauce before grilling it solved the problem of pork fat floating around.
14. In 1996, Jong-won applied for a patent for his thinly sliced pork belly.
15. In 2006, Jong-won developed a special long square tray for serving ssam vegetables in order, which made it easier for customers to choose and eat.
16. Jong-won's interior design company started trading replicas of American wooden houses, which became a successful business.
17. The company achieved annual sales of 1 billion won, but Jong-won faced financial difficulties during the IMF foreign exchange crisis in 1997.
18. Jong-won was left with only 1.7 billion won and considered ending his life in Hong Kong, but instead decided to start over and return to Korea.
19. He gathered all his creditors together, promised to repay them, and started running his ssambap restaurant again.