Actively targeting overseas markets such as Australia through breeding and production of high-quality wildflowers
120 varieties registered for plant variety protection alone, 50 varieties exported to countries around the world
Annual royalty income exceeding 20 million won; landscaping projects also pursued for promotion
Park Gong-young, CEO of Woori Seed, who challenged the global market with wildflowersIn Songgok-ri, Moga-myeon, Icheon-si, Gyeonggi-do, there is a garden that catches the eye of passersby. The scenery, with its colorful flowers and grasses, is reminiscent of a small park. In fact, this is the flower farm of Park Gong-young (51), CEO of Woori Seed, who breeds rare flowers that receive royalties from overseas, such as , an improved version of Coreopsis, which is called the small cosmos.
CEO Park has devoted himself solely to the breeding and production of wildflowers to the extent that it is said he is "obsessed with wildflowers." To date, the number of registered plant variety rights alone amounts to 120. Among them, 50 varieties are being exported to various countries overseas in exchange for royalties.
“Wildflowers are not as showy in shape or have as large buds as roses or tulips. However, they possess a small and charming appeal, and their distinct individuality made me believe they would definitely succeed in overseas markets.”
He is a breeding expert who majored in agricultural life sciences at university and worked for a major seed company for seven years. After leaving his job, he established a company in 2000 with the goal of breeding and producing domestic wildflowers. Thanks to promoting high-quality new wildflower varieties, the company established itself in the domestic floriculture market without much difficulty.
Then, he broadened his horizons and took an interest in overseas markets. He participated in the International Flower Exhibition held in the Netherlands for the first time in 2005, but the results were disastrous. There wasn't even a single request for consultation over the three days. However, CEO Park did not give up and continued to participate in various international exhibitions. Furthermore, instead of simply waiting for local seed companies to come to him, he proactively approached them to introduce his products.
Thanks to these efforts, he successfully secured his first royalty contract with a Japanese seed company in 2008. Since then, he has also signed contracts with seed companies in Australia, the Netherlands, the United States, Belgium, Italy, and Germany. Currently, the annual royalty income is approximately 20 to 30 million won. However, CEO Park predicts that royalty revenue will increase more than tenfold in the future. This is because trial cultivation in the local areas will conclude in two to three years, and full-scale production will begin.
CEO Park is also pursuing landscaping projects to widely promote wildflowers. The plant wall created at the entrance of Namsan Tunnel No. 1 in Seoul, the vertical garden at the Gangdong-gu Children and Youth Future Headquarters, and the garden at Gwanghwamun Square are all his creations. Although the profits generated from such landscaping projects far outweigh royalties, he says that the most rewarding aspect is the development and export of new wildflower varieties. CEO Park stated, “I believe that small, pretty wildflowers, which stand in contrast to mainstream Western items like roses and lilies, can elevate the status of Korean flowers.” He added, “I will continue to do my best to develop new varieties that are competitive on the global stage, and I will maintain continuous communication with Korean floriculture experts and farmers to share global flower trends and variety research results.”