Underdog brewery wins hearts of young drinkers with creative biz tactics

Underdog brewery wins hearts of young drinkers with creative biz tactics

Local brewery The Satellite Brewing Company collaborated with Samyang’s Spicy Buldak Ramen to release Buldak Mango Ale. Courtesy of The Satellite Brewing Company

Beer startup CEO launches beer for outer space with unique recipesBy Lee Gyu-leeWhen Daehan Flour Mills, in collaboration with the local beer manufacturing company, Sevenbrau Beer, launched the beer, Gompyo Wheat Beer, named after the former’s main flour brand, last May, the new beer created a craze among younger drinkers, clearing out its initial 100,000 in stock in just four days. Within five months of its launch, the beer has sold more than one million units and topped beer sections at local convenience stores. The beer brand has outperformed even the beers produced by the top breweries. Following Gompyo Wheat Beer’s phenomenal success, brewing companies, one after another, have partnered with other companies to launch unique and trendy collaborative beers to win the hearts of the MZ Generation, who are keen on new experiences and trends. Amid the growing competition among small breweries, local brewery The Satellite Brewing Company stood out in the public eye, garnering popularity with its Beer with Whelk, followed by its chewing gum-flavored Juicy Fresh Beer. The company teamed up with top canned whelk maker Yoo Dong to release Beer with Whelk, dedicated to pairing with canned whelk (known in Korean as “golbaengi”), last November. It soon became the most sold beer at 7-Eleven convenience stores, which handed down the title to the brewery’s other collaborative beer, Juicy Fresh Beer, released this March, after joining hands with Lotte Foods’ fruity chewing gum brand.

Underdog brewery wins hearts of young drinkers with creative biz tactics

A picture of the brewing company’s beer taken in the stratosphere / Courtesy of The Satellite Brewing Company

As its name ― The Satellite Brewing Company, which started as a brewpub in 2017 ― indicates, the brewery has taken a rather unusual approach in the industry, using the concept of outer space for its brand marketing and unveiling a unique line of products.The company teamed up with NARA Space Technology to shoot one of its products up into space ― 43.5 kilometers into the stratosphere ― through a helium balloon, last April, as a part of its marketing campaign. “‘Brewing Your Dream’ is our company’s slogan. We took our imagination and brewed it into reality with Juicy Fresh Beer, just like how space used to be a vague imagination. But as technology developed, it has become much closer to our reality,” Jeon Dong-keun, the CEO and founder of the company, said in an interview with The Korea Times, Tuesday. “The world of beer is just as endless and unknown as the world of space. And our company seeks to take one step forward at a time to explore and make them realizable.”The 28-year-old CEO said that he has always been keen on finding his own way in business since high school, organizing paid events, and raising funding after coming up with his own business model. After joining the Korea division of SAGE, a global entrepreneurship program for high school students, he came to connect with leading entrepreneurs who would provide mentorship to him.

Underdog brewery wins hearts of young drinkers with creative biz tactics

Jeon Dong-keun, the CEO and founder of the company, opened his own brewing business in 2017. Courtesy of The Satellite Brewing Company

“(Going through those experiences,) I just vaguely made up my mind to start my own business after college. I didn’t know what and how but I knew I was going to,” he said. Towards his last year in Kalamazoo College in Michigan, where he studied Economics, he found his vision in the craft beer business. “When I analyzed the consumer market, I noticed there are different businesses that are timely for each year… and by the time I graduated in 2016, the trend of that year was beer,” he said. Having no prior knowledge of beer brewing, he explained that he chose beer thorough research on the beer market and took a strategic approach, using his economics background, in making the decision. Taking the history of the U.S. beer market as an example, he saw potential in Korea’s market to grow.”It was just my general faith, without really knowing whether it would work out or not… But after I analyzed the reasons the beer market has not been booming in Korea, and ways to make it happen, I came to the conclusion that I could do it,” he said.

Underdog brewery wins hearts of young drinkers with creative biz tactics

The brewery launched collaborative beer products, Beer with Whelk, left, and Juicy Fresh Beer. Courtesy of The Satellite Brewing Company

As he was confident of his decision, he wasted no time in gearing up for his new business. After graduating from college, he went on a quest to experience as many breweries and types of beer as he could. He spent three weeks in Europe to visit about 90 breweries across the region, visiting six to 10 breweries a day. “I considered everything I saw as information that I needed and studied everything that I came across. It was because I needed to collect as much information as I could in a short period of time, as there weren’t many resources in Korea,” Jeon said. Around that time, he met Joe Short, the founder of the Michigan-based Short’s Brewing Company, after he contacted Short for help in launching his beer business in Korea. Jeon said that his pitch about sending beer into outer space captured Short’s interest. “Short then asked me what my next move would be and what I would need from him to take a step forward in accomplishing my goal,” he said. “First, I asked him if I could learn at his brewery, telling him to think of me as additional labor because I’d be working for free. And secondly, I asked him to come over and help me with opening up my brewery.”

Underdog brewery wins hearts of young drinkers with creative biz tactics

The Satellite Brewing Company started as a brewpub in 2017 and still runs its own pub in Geumcheon-gu, southern Seoul. Courtesy of The Satellite Brewing Company

After spending about a year at the brewery, going back and forth between it and Korea, he came to obtain extensive knowledge in beer, and diverse recipes that vary through even slight differences in the brewing process. Using what he learned, he opened his brewery, intending to take recipes he learned in the U.S. and localize them to suit the taste of consumers in Korea.”When we develop a new product, we focus on how to maximize things like the flavor, aroma and level of bitterness that Koreans usually prefer,” he said. Just when he grew comfortable in adjusting and arranging ingredients to create his own recipes, Jeon took on another challenge: expanding his draft beer business to manufacturing canned beer. “The canned beer market was getting bigger, so I thought, ‘Now is the time to join,'” he said. “And it was also the time when companies from different industries were coming together to make collaborative products. So I sought out other companies to collaborate with.”So he came up with the idea to launch a new line of beer that would go well with the whelk dish ― which is known in Korea as a dish to pair with beer ― with the number one canned whelk brand. The brewery now has several more lines of beer from collaborations with different food brands, including Samyang’s Spicy Buldak Ramen.

Underdog brewery wins hearts of young drinkers with creative biz tactics

A picture of the brewery, located in Geumcheon-gu, southern Seoul / Courtesy of The Satellite Brewing Company

The company is set to welcome its third brewery facility ― opening in Boryeong, South Chungcheong Province ― this month. The new facility will allow it to further expand its line of products, even including non-alcoholic beverages. The enthusiastic, goal-driven CEO expressed that he hopes continuously to take on new challenges, like joining the competitive global beer market one day and becoming the first Korean to embark on SpaceX. “Since we localized beer recipes from overseas, re-adjusting them to target the overseas market won’t be so difficult. And along the way, we might come up with some sort of hybrid recipe,” he said. “In terms of food and drink culture, beer also falls into the category of ‘culture…’ And as Korean culture has become more and more relevant to people around the world through leading entertainment like K-pop and K-drama, I think we can also have a chance to take the lead in introducing K-food and drinks globally, as well.” When asked if he is ever afraid of failing, Jeon noted that he has gone through a change in mindset recently. “In the past, I used to be scared of failing, because I took success and failure as two different things. But now, my belief has changed: it’s not a failure unless you give up,” he said. “You will succeed eventually… it’s all a matter of how persistent you are to get through the bumpy roads toward bringing your dreams to reality.”

News Related

OTHER NEWS

Korean stocks tumble after declines on Wall Street

An electronic board set up at a dealing room of Hana Bank in Seoul indicates stock falls on Monday. The benchmark KOSPI closed down 1.49 percent at 2,792, the lowest ... Read more »

Osstem Implant's trading suspension likely to continue following embezzlement

The Osstem Implant logo is seen at its headquarters in Seoul. Yonhap By Lee Min-hyung The Korea Exchange will decide Monday afternoon whether to uphold the suspension on trading of ... Read more »

Elections 2022 | BJP, other parties and Koo lead political ad spending on Facebook

Representative image. (Source: Shutterstock) The Bharatiya Janata Party (BJP) and rivals like the Congress continue to lead the political ad race on Facebook with just a few weeks to go ... Read more »

OPPO Reno 7, Reno 7 Pro India launch on February 4: Check expected price, specifications

Oppo Reno 7 Pro features a MediaTek Dimensity 1200-Max. Oppo Reno 7 series India launch date has been announced. The Oppo Reno 7 and Reno 7 Pro India launch event ... Read more »

Royal Navy seizes a tonne of drugs worth £15m in Gulf of Oman

More than one tonne of drugs worth more than £15m has been seized by the Royal Navy in its first bust of the year. (SWNS) Drugs weighing over a tonne ... Read more »

Extra budget feared to lead to rate hikes, inflation, burdening vulnerable

Business owners set to be affected by rising lending rates, consumer prices By Kim Bo-eun Finance Minister Hong Nam-ki speaks about the government’s 14-trillion-won ($11.7 billion) extra budget plan at ... Read more »

How high will LG Energy Solution soar?

Customers enter Shinhan Financial Investment’s Yeouido branch on the last day of a two-day subscription period for stock allotment of LG Energy Solution IPO, Jan. 19. Newsis By Anna J. ... Read more »

SK, KT rethink attending MWC amid Omicron variant

Visitors arrive at the Mobile World Congress (MWC) fair in Barcelona, Spain, June 28, 2021. AFP-Yonhap By Baek Byung-yeul SK Telecom and KT are agonizing over the size of their ... Read more »

[Behind the Wheel] Polestar 2, simple but powerful

Polestar Korea launches its performance and design driven electric car Polestar 2. (Polestar Korea)The Polestar 2, the first Polestar car to hit the Korean roads, is a performance-driven car, living ... Read more »

Finance minister to meet with heads of BOK, financial regulator next month

SEOUL, Jan. 24 (Yonhap) — Finance Minister Hong Nam-ki said Monday he plans to meet with the chiefs of the central bank and the financial regulator next month to discuss ... Read more »

Apple may unveil highest number of devices ever in 2022: Report

Apple is said to be readying the widest array of new hardware products in its history this fall. According to Bloomberg’s Mark Gurman, the Cupertino-based company is working on four ... Read more »

‘Gran Turismo 7' file size leak suggests the game will require large storage space before the day one patch

From the “Gran Turismo 7 – Daytona International Speedway” gameplay teaser | Photo credit: PlayStation / YouTube screenshot Modern video games have been known to have large file sizes at ... Read more »

Samsung Biologics 2021 net profit up 63.3 pct to 393.6 bln won

SEOUL, Jan. 24 (Yonhap) — Samsung Biologics Co. on Monday reported its 2021 net profit of 393.6 billion won (US$329.1 million), up 63.3 percent from a year earlier. The company ... Read more »

Samsung Biologics Q4 net income down 17.6 pct to 79.3 bln won

SEOUL, Jan. 24 (Yonhap) — Samsung Biologics Co. on Monday reported its fourth-quarter net income of 79.3 billion won (US$66.3 million), down 17.6 percent from a year earlier. The company ... Read more »

[Korea Chips Act] Korea sets out own Chips Act, in less ambitious fashion

A microchip circuit board with microprocessor information on a computer motherboard in the foreground (123rf)This is the first installment of a two-part series on Korea’s Chips Act and controversies surrounding ... Read more »

Opposition parties turn against each other

Lee Jun-seok, head of People Power Party, speaks at a meeting held at the National Assembly, Monday. (Joint Press Corps) Opposition parties People Power Party and People’s Party are engaging ... Read more »

Top Cyber Security Predictions For 2022

While the pandemic has dramatically changed the dynamics of workplaces and brought in a massive digital transformation, it has also given an unfortunate rise in cybercrimes. 2021 saw some of ... Read more »

Foreign trawlers 'napalming' Channel by dumping tons of fish back into water

Screengrabs from the video showing the Dutch fly-shooter cutting open a net and dumping thousands of fish last month Foreign trawlers are dumping fish in the Channel as the Government ... Read more »

Rachel Stevens says wrist healed 'really well' and confirms 'Dancing On Ice' return

Rachel Stevens and Brendyn Hatfield will be back next week. (Matt Frost/ITV/Shutterstock) Rachel Stevens has revealed her wrist injury has healed “really well” and confirmed that she will make her ... Read more »

Yoon vows for stronger national defense, key to peace on Korean Peninsula

Presidential candidate Yoon Suk-yeol of the main opposition People Power Party announces his election pledges on security and diplomacy at the party’s headquarter in Seoul on Monday. (Yonhap)Presidential candidate Yoon ... Read more »

GS E&C becomes first to export green hydrogen plant modules

Corporate identity of GS E&C (GS E&C)GS Engineering and Construction said Monday it has signed a memorandum of understanding with California-based SG H2 to supply modules that will be used ... Read more »

S. Korea to invest 107 bln won in Gwangju AI complex project this year

SEOUL, Jan. 24 (Yonhap) — South Korea plans to invest 107.6 billion won (US$90.1 million) this year to push ahead with a major project to build an artificial intelligence complex ... Read more »

Number of 'discouraged workers' in Korea hits new high in 2021

gettyimagesbank The number of “discouraged workers” in Korea touched a fresh all-time high in 2021 due to a weak job market amid the prolonged coronavirus pandemic, government data showed Monday.Asia’s ... Read more »

Shady Network of Fake Mossad Job Sites Targets Iranian Spies

Photo Illustration by Thomas Levinson/The Daily Beast/Getty The job hunters at VIP Human Solutions have a unique pitch for those working in sensitive security jobs in Hezbollah and the Assad ... Read more »

Apple reverses verification requirement for educational discounts in US

After introducing a new verification process for customers taking advantage of educational discounts in the US, tech giant Apple reportedly appears to have reversed this decision.According to 9To5Mac, the tech ... Read more »

Woman sues Meta, Snap over daughter's suicide

New York: A Connecticut woman is suing Instagram‘s parent company Meta and Snap Inc, alleging that an addiction to their social media platforms led her young daughter to commit suicide, ... Read more »

Amazon makes offer to Future Retail for acquisition by an entity led by Samara Capital

Amazon has said it is pleased that for the first time since December 2, 2020, the independent directors of Future Retail are willing to consider Amazon’s assistance in addressing the ... Read more »

Best Back to School Accessories for MacBook in 2022

This article originally appeared on Android Central and has been inducted into our Back to School guide It’s the perfect time to grab the best back to school accessories for ... Read more »

Best gaming SSD 2022: get into the game quicker than ever before

Don’t forget to invest in the best gaming SSD available when putting together your gaming rig. You may have spent a lot of time and money researching the various GPUs, ... Read more »

LG to unveil life-size Omnipod, self-driving concept car

SEOUL, Jan. 24 (Yonhap) — LG Electronics Inc. said Monday it will show off the real-life version of its futuristic self-driving vehicle next month. The LG Omnipod, a mobility concept ... Read more »

Coronavirus: PM implores people to refrain from traveling during Lunar New Year

Prime Minister Kim Boo-kyum speaks during a press conference at the government complex in Seoul, Jan. 24. Yonhap Prime Minister Kim Boo-kyum on Monday asked people to refrain from traveling ... Read more »

A Fetus Was Preserved Within an Egyptian Mummy Because It 'Pickled', Scientists Say

© Ejsmond et al., J. Archaeol. Sci., 2022 Volumetric rendering of fetus from CT data with interpretation. Last year, archaeologists presented an incredible first: the discovery of a mummified fetus ... Read more »

China vows greater support for start-ups, small firms as Big Tech firms continue to reel from year-long crackdown

The Chinese government is increasingly relying on small technology firms to drive future innovation as regulators keep up pressure on the country’s Big Tech companies. The government plans to give ... Read more »

Facebook declined to spin-off its Workplace app as $1billion unicorn

Facebook (before it was rebrandeded as Meta) was approached by venture capitalists to spin off its Workplace app and make it a new company valued at over $1 billion. But ... Read more »

Hanwha Q Cells CEO to represent renewable energy suppliers

Hanwha Q Cells CEO Lee Koo-yung / Courtesy of Hanwha Q Cells By Park Jae-hyuk Hanwha Q Cells CEO Lee Koo-yung was appointed last Friday as the 14th chair of ... Read more »

Professor slams Japanese Embassy's refusal to Moon's gift over Dokdo

This photo shows the image on the box of South Korean President Moon Jae-in`s gift sent to foreign ambassadors in the country to mark the Lunar New Year. (Yonhap)Seo Kyung-duk, ... Read more »

[Election 101] Campaign merger? What it is and why it matters

People Power Party candidate Yoon Seok-yeol (left) and People Party leader Ahn Cheol-soo (Yonhap) Will two presidential candidates, Yoon Suk-yeol and Ahn Cheol-soo, merge their campaigns to win the upcoming ... Read more »

Kakao Mobility to hold 1st tech conference in Feb.

Screen capture of Kakao Mobility’s tech conference websiteKakao Mobility will hold its first technology conference under the name of Next Mobility: NEMO 2022 with participation from global leaders in the ... Read more »

Lee Jae-myung vows quicker commute for Gyeonggi residents

Presidential nominee Lee Jae-myung of the ruling Democratic Party announces the proposed expansion on the Greater Train Express commuter network of railways, subways and expressways during a campaign event Monday ... Read more »

Tesla, Volvo expand presence against Volkswagen, Jaguar, Land Rover

By Kim Hyun-bin Tesla and Volvo sales are gaining traction as they compete fiercely as emerging powerhouses in the Korean market while Volkswagen, Ford, and Jaguar Land Rover ― the ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic