Air purifier manufacturer Winix shares secrets to success

Chairman Yoon Hee-jong [Photo by Kim Ho-young]

South Korea’s Winix Inc., a mid-sized company that leads the country’s air purifier and dehumidifier market, attributes its success to stable business management.

“You should not expand your business out of personal greed, but let it lead you steadily within the bounds of your capabilities,” Yoon Hee-jong, 76, chairman and co-chief executive officer of Winix, said during an interview with Maeil Business Newspaper ahead of the company’s 50th anniversary on Friday. It is the first time since 2014 that Yoon, who has been focusing on corporate management instead of external activities, has given a media interview.

“I opened a small factory in 1973, when I was 26 years old, and that is the beginning of the Winix story,” Yoon recalled. “To make a living, I gave up my studies and started my own business with the skills and money I learned while working in the factory.”

The company grew to more than 100 employees four years after it opened, as parts for electric rice cookers gained huge popularity in the 1970s. But it ran into trouble when a client suddenly went bankrupt, and a home appliance company that it partnered with for parts supply also went bankrupt two years later. “After experiencing the two bankruptcies, I realized that the existence of a company depends on its customers,” Yoon said. “A stable customer flow and customer diversification are essential for a stable business.”