As the CEO of Ggeek Beer Company Joongseob Hong is passionate about brewing unique and flavorful craft beers that represent the best Korean flavors. With a background in the insurance industry, Joongseob pursued his passion for homebrewing and eventually became a brewer. He then established Ggeek Beer Company with a team of fellow beer enthusiasts.
Under Joongseob’s leadership, Ggeek has become one of Korea’s most successful and innovative craft breweries, winning numerous awards and expanding domestically and internationally. He is dedicated to using quality ingredients and brewing techniques to create exceptional beers that appeal to many consumers.
Joongseob’s vision for Ggeek is to establish the brand as a trusted name for taste and quality and to continue expanding its growth through the overseas market entry and product diversification. He remains committed to the local beer community and constantly seeks new and exciting collaborations and projects.
Can you tell us about your journey as an entrepreneur?
I used to work for an insurance company before starting my own business. Craft beer helped me get through the frequent overtime and demanding workload, which eventually sparked my interest in brewing beer. After leaving the company in 2017, I pursued my passion for homebrewing and worked hard to become a brewer. I then got a job at a brewery and worked there for a while, but I eventually decided to start my own business to introduce consumers to new and diverse types of beer.
How did you start the Ggeek Beer company and gather the team?
After getting a job at a brewery, I often talked with my colleagues and industry friends about the goals we wanted to achieve in the beer industry. The first step towards starting the business was opening a pub in Euljiro, which helped me better understand consumer preferences and beer trends in the market. By the third year of running the pub, we were lucky enough to come across used brewing equipment for sale, which led me to start a brewery. With the support and encouragement of my colleagues with whom I had frequent conversations, we set out to establish the brewery together.
What challenges does an entrepreneur face in your industry (F&B)?
Competition within the industry is extremely fierce, and we face various challenges. One of the biggest challenges is responding to changing consumer trends and preferences. Since it’s a food product, it is important to comply with regulations to ensure consumers can healthily enjoy our products. We also need to pay attention to sourcing quality ingredients. In addition, government policies or macroeconomic conditions can also affect product prices.
What advice will you give to those wanting to enter the industry?
A deep understanding of market trends and consumer preferences is necessary. It is also important to develop investment plans centered around sales strategies. Furthermore, cash flow management is crucial due to the significant initial investment costs and the potential for an extended period of time before generating revenue.
What is the company’s current position – financial & sales?
We are a newcomer in the craft beer market, but as of 2022, we have surpassed the breakeven point and are rapidly growing.
What are your future plans for Ggeek Beer company?
Ggeek Beer Company aims to establish itself as a trusted brand for taste and quality among a broader range of consumers. We also aim to expand our growth through the overseas market entry and diversifying our product line-up.