Limoh's business acumen is built on giving back
For Lim Ohsik, the true testament of a company's success is measured not by its size but by how much it gives back to society. More than being the CEO and chairman of South Korean conglomerate Limoh Group, Lim values his role as a philanthropist. He has devoted more than a decade to supporting charities such as the Myeong Hwi Won centre for the disabled and ChildFund Korea.
"As someone who began with empty hands 50 years ago, I can say that honesty, credibility, diligence and simplicity are the keys to success," Lim says. "I may have founded the company, but it belongs to all the employees who I hope I can lead by example."
Lim's perseverance gave rise to six companies within the group, with expertise ranging from high-quality kitchenware and flatware to frozen food service. While standing by its business acumen since 1975, Limoh continues to tap new sectors. It acquired fur clothing company Jindo in 2008. Through strong management, Limoh has since turned Jindo into one of South Korea's leading fashion brands for high-end fur.
Motivated to replicate its success with Jindo, Limoh is exploring the cosmetics industry and aims to create a one-stop shop for women. It is open to mergers, acquisitions and partnerships with established local and international brands.
Limoh looks forward to meeting partners that are well-entrenched in promising markets such as the mainland and Russia. Such a move reinforces Limoh's commitment to its growing global clientele, in the same way it is committed to its community, business partners and employees.
"We take pride in never letting go of any employee despite the challenges we faced throughout the years," Lim says. "The economy always goes up and down; the best way to survive is to prepare, build relationships and always remain humble."