'Fixed-Price Legend' Park Jeong-bu, AsungDaiso Chairman, Wins EY Entrepreneur Of The Year Award

[Financial News] Chairman Park Jeong-bu of AsungDaiso, who built a 'fixed-price legend' (Photo) won in the Master category at the 20th EY Entrepreneur Of The Year Awards.
According to industry sources on the 11th, Park was selected as the winner in the Master category at the 20th EY Entrepreneur Of The Year Awards ceremony hosted the previous day by global accounting and consulting firm Ernst & Young Hanyoung.
The EY Entrepreneur Of The Year Award is presented to entrepreneurs who have achieved results through innovative management and entrepreneurship. Launched in the United States in 1986, it is now held in 94 countries and regions around the world, and has been held in Korea since 2007. The Master category recognizes recipients based on factors including management performance and contributions to the development of industry.
Since opening his first store in 1997, Chairman Park has led AsungDaiso's growth for nearly 30 years with its fixed-price retail model. The company has focused on securing price competitiveness by maintaining six price points ranging from 500 won to 5,000 won and improving efficiency in product planning, sourcing and distribution.
AsungDaiso began with a focus on household goods and has recently expanded its product range to include beauty, fashion and health supplements. As the cost-of-living burden grows amid high prices, it is responding to consumer demand by increasing its selection of lower-priced products.
The company is also continuing to invest in logistics infrastructure. AsungDaiso invested about 400 billion won in building the Sejong Hub Center, and last month began construction of the Yangju Hub Center, a project valued at 600 billion won. It plans to install automated equipment at both logistics centers to increase product-handling capacity and supply stability, and strengthen its online and offline logistics systems. The centers are expected to create about 2,000 jobs.
The business has also continued to expand. AsungDaiso's revenue rose from about 3.46 trillion won in 2023 to about 4.53 trillion won last year. The growth is attributed to expanding its product range and strengthening its logistics capabilities while maintaining its fixed-price policy.
Chairman Park said, “AsungDaiso has been able to grow thanks to the continued interest and support of our customers,” adding, “We will continue to do our utmost to offer good products that satisfy customers at reasonable prices.”
He added, “Through investments in logistics infrastructure, including the Sejong and Yangju Hub Centers, we will strengthen a stable product supply system, grow together with local communities and partner companies, and strive to become ‘the people's store,’ trusted by our customers.”
[email protected] Jang Yu-ha Reporter