Yuk Gwang-sim, who rose from nothing to become a "building tycoon" and then a "school tycoon," impressed with not only genuine dedication to nurturing future talent but also remarkable efforts to coexist with the local community.
On the Dec. 12 broadcast of EBS Seo Jang-hoon's Neighborhood Millionaire (hereinafter "Neighborhood Millionaire"), Yuk Gwang-sim, who is fostering future hotel talent at the country's largest hotel school, revealed his warm educational philosophy toward students and the secrets of his success. Born in a remote mountain village and once a penniless country boy who dreamed of being a "goat farm owner," Yuk Gwang-sim was using a hotel building he bought for about 65 billion won as an educational facility for students.
As a young man who majored in tourism, Yuk Gwang-sim first got a job at a cooking academy in Yeongdeungpo, Seoul, and at the young age of 23 married his hometown friend, his wife. He sold the duplex housing for newlyweds and moved to a semi-basement one-room, and based on that profit he started his own cooking academy. Yuk Gwang-sim's wife recalled the fierce times, saying, "I was anxious. There was no money in the bank...when I think about it I cry. But it was something my husband had to do, so I followed him."
He increased enrollment with differentiated marketing by personally providing "home visits counseling" to prospective students who called after seeing flyers for the cooking academy attached to utility poles. In the early to mid-1990s, his cooking academy gained a reputation as a "cram academy for perfect scores" and achieved annual sales of 1 to 2 billion won. Seo Jang-hoon said, "It's almost a small or medium-sized enterprise," with admiration. With the goal of "buying the building that houses the cooking academy," Yuk Gwang-sim also ran a lunchbox delivery business while operating the academy. He reduced sleep time to make lunchboxes from early dawn and delivered them in the early morning, then continued the grueling schedule of teaching during the day. Seo Jang-hoon empathized with Yuk Gwang-sim's fierce efforts, saying, "Many people ask how you make money. If you sleep when others sleep and play when others play...how could you make money that way?"
At age 37 he bought the building housing the academy for 6 billion won and converted the cooking academy into a "hotel school" to foster talent not defined by academic credentials. Today, Yuk Gwang-sim's hotel has about 400 rooms and is responsible for practical training for a wide range of students, from hoteliers to bakery specialists. Half of it is used as student dormitories and half operates as a hotel serving actual guests. He also revealed an "oddly funny" story about acquiring a once-popular entertainment bar nearby with a retractable roof called "Dome Night" after persuading the owner for three years to secure a facility for student training when he first took over the hotel.
Yuk Gwang-sim's residence, which has a backyard of more than 3,000 pyeong, was also shown on the broadcast. The backyard of the dwelling, featuring a luxurious chandelier and a sophisticated kitchen, included a golf practice course and a jjimjilbang that he had built and opened to village residents. He also acquired and operates two middle schools and one high school in Yeosan, Chungcheongnam-do, which were facing closure. Yuk Gwang-sim said, "If a school disappears in the region, isn't that taking away educational opportunities? I believe the existence of schools is tied to the existence of the region," and did not hesitate to do tough work for the schools. He said he invests about 40 to 50 million won annually in the schools without taking a chairman's salary, and added, "If you look at it as accumulation of wealth, then I am rich. If you ask whether I have succeeded, I don't think I'm successful yet. Ultimately, when the students I taught succeed, then I can say I have succeeded," persuading his children of the value of giving back to society and showing sincerity in cultivating future talent.
[photo] EBS Seo Jang-hoon's Neighborhood Millionaire broadcast capture
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