Rara Jeon

Question: Can you please tell us know a little bit about your company, such as a brief history, for the benefit of our readers?

Answer: Barnet & Company, Exhibition & Convention, was founded in 2005, and provides export marketing, consulting, trade services, and education services as a knowledge services specialist company. In other words, we provide overseas network services for small and medium-sized companies so that they can go into overseas markets. We help them meet overseas buyers by providing planning and consulting, and offer information about various specialized international exhibitions. We help companies with trade support services, bridging domestic and foreign businesses for international trade.

In addition, we provide employment-related education and job retraining for workers by offering various training programs and certificate programs.

For example, compared to a manufacturer that usually needs 5-8 employees to make one million won in sales annually, my company, a knowledge service provider, needs to hire 20-30 employees. Barnet & Company can offer more employment opportunities to people who want to have a job. Now, the Korean government is looking at diverse ways to create more jobs because the unemployment rate is a serious issue in Korea. That is why I might say my company is significantly contributing to society as a knowledge service provider.

Q: What is your business philosophy? Who are your main business role models?

A: I often hear some business owners say that they want to do “a business that can make some money” when someone asks what kind of business they want to do. It is a joke, but it could be an honest answer for any businessperson. I also have to worry about the company’s operating costs and many things. However, I always try to keep in mind the fact that I will run a business that not only can create profits, but also contribute to and serve society.

I see some CEO s run their business with a philosophy that I want to follow. One would be Sung-joo Kim, the Chairwoman and CEO of Sungjoo Group and MCM Holdings AG . She is known for her active involvement in non-profit charities and cultural organizations for supporting humanitarian causes. The other would be Costco’s CEO James D. Sinegal. Costco’s stock keeps going up and revenues of the company continue to grow. However, CEO James D. Sinegal wears a plain nametag, answers his own phone and has an office at the company headquarters without walls. The examples of two CEO s show many things about their business philosophy without many words.

Q: What are the core areas of business of your company? What important areas are you planning to add in the future?

A: Our company’s core technology is how to train and create brains, a workforce, for the near future. The brains will predict upcoming industry, create professional plans for international conventions and help companies engage in international trade.

I would say that IT / BT / NT / ET / ST / GT (green technology) are hot areas in the industry, but soon People Technology (PT ) will lead the industry. All aspects of industry such as the design of merchandise and lifestyles are more focused on humans than anything else. Korea, especially poor in natural resources, has to focus on human resources. Barnet & Company created a joint venture with a company from India, a country with powerful brains and technologies.

The Comprehensive Economic Partnership Agreement (CEPA ) between Korea and India became effective on January 1, 2010. It will create a strategic trading partner relationship between Korea and India. It will also create more business opportunities for Barnet & Company.

The first and best way to become a global company is to secure global talents. Barnet & Company opened the door for that and will help other companies do global businesses.

Q: Korea is emerging as a global hub of business. In this changing scenario, what is the future of global marketing and networking?

A: South Korea has more applied technologies than the core technologies. Korea uses the resources, energy and technology from other countries and creates a whole new product that can surprise the world. The concept of a global village has been known for a long time, but there are only a few companies applying it to business and taking advantage of it. If you compare the Apple iPhone and the Samsung smart phone, you will know the difference. The Apple iPhone’s success is made not by the people working at Apple, but by application developers from all over the world because the developers create the applications for the iPhone and the applications make the phone successful. Meanwhile, even though Samsung’s smart phone is a great piece of technology, it was only created by the employees at Samsung. That makes a huge difference. A company or a country can perform better when it cooperates with other companies or countries. We need to go see and work with the experts of the world. For example, mobile phones can be designed in Israel, get hardware from Taiwan and software from the United States and obtain the applications from the world. Global sourcing will be more important for business in the future.

Q: Please also let us know about your Exhibition & Convention Business area. What are the important conferences and seminars you have organized in the past? What are the important conferences you’re planning to organize in the near future?

A: I have been working in the field of conventions and exhibitions for over 10 years. I think I have made the right career choice for myself. I have had many chances to travel around the world and I earned experience and knowledge across multiple industries. Working in conventions and exhibitions is not limited to simply organizing the event, but it includes communicating with companies to help them go to foreign markets, overseas exhibitions and trade meetings. Without having the knowledge and information about the world market and business, it is really difficult to work in the convention and exhibition business.

To help small and medium-sized companies expand their overseas operations, Barnett & Company introduces worldrenowned international exhibitions to the companies and helps them to participate in the exhibitions. We have partnerships with the convention organizers, so we can better support the companies. In addition, For Korean exporters that want to have business meetings with overseas buyers, we do convention planning and convention operation by creating consultation meeting, corporate visits and company IR.

Barnet & Company offered consultations to many domestic companies and helped them exhibit at the Shanghai IT Road Show, UAE Ubiquitous Conference, Tokyo Biotechnology Industry Trade Meeting and the Magic Fashion Show in Las Vegas. The companies had opportunities to meet with overseas buyers and to make deals.

During the International-India Film Festival scheduled in June as well as the G-20 Summit scheduled for November, we will try to organize some other events that can create a synergy effect. The two events could be great opportunities for the MICE industry to emerge and grow. To organize and hold large-scale summits like the G20 or other global conventions in Korea, the government needs to build national competitiveness and the companies in the convention sector have to steadily develop their capabilities.

Q: Your company has a special relationship with India. What are your plans for the Indian market?

A: A company should be insightful and have a vision. Barnet & Company is aiming for the Indian market with over 1.2 billion people. Barnet & Company will promote the trade in human resources and materials between Korea and India. The Indian International Film Festival scheduled for June will be a great opportunity not only for the film industries of Korea and India, but also for the travel industry and others. We are planning many events and conventions related to the film festival.

Q: Your companies have partnerships with companies from all over the world. Please tell us about your business partnerships in other parts of the world and what kinds of business they are doing.

A: Barnet & Company has had global partnerships with leading international companies including the capital finance group Samper Ventures in the United States, the trading company JS Global in the United States that does exhibition, convention, marketing and trading, and our Arab partner in the Middle East for a JV project in the past.

Q: Korea is a male-dominated society. As a young Korean woman entrepreneur, what are the main problems you have to face in doing business in Korea?

A: I often get similar questions when I am interviewed. I can’t say that there is no prejudice or difficulties for a businesswoman in Korea. However, if I had a chance to be born one more time, I would still want to be a businesswoman. If I go to a business meeting or conference, usually there are relatively fewer women than men. When a businesswoman says something, it gets more attention and has more impact on the audience. I think that could be one of my advantages as a businesswoman.

Some scientists who specialize in the future say there will be a time when women will lead the world soon. Women are very detail-oriented. I think it will help to better understand 21st century consumers. The significant part of decision making in daily consumption is done by women. For example, women decide which clothes, car, house and even movie tickets to buy. Women will play a more critical role not only as consumers, but also as producers in society.

Q: What important steps would you like to suggest the Korean Government take to improve the working environment for Korean women entrepreneurs and those working in the corporate sector?

A: I don’t want to ask for a special benefit for women entrepreneurs. However, I’d like to see more social facilities that provide services for all married women, so that they can give birth to a child and raise the child in a more comfortable situation.

Q: What is your take on the future of the Korean economy and what are the important issues that the Korean economy is facing today?

A: The low birthrate and the aging population are becoming huge social problems in the near future. Researchers who study the future predict that the population of Korea could be only 500,000 in the year 2300. We will need a young workforce to lead economic activity in the near future. Not only the government, but everyone in Korea should consider the importance of having children. Even though the current government encourages families to have more children by offering maternity subsidies and other benefits when a new baby is born, we need to come up with more practical and useful ways to promote more births. I’d like to emphasize again the importance of raising the birthrate for the future of Korea.