Starting with two dairy cows and growing to a 100,000-pyeong ranch, the dramatic rags-to-riches story of "dairy cow millionaire" Lee Su-ho, who went from a monthly wage of 130,000 won to becoming an entrepreneur with annual sales in the 10 billion won range, struck a deep chord.
On the 21st, the EBS program Seo Jang-hoon's Millionaire Next Door aired the turbulent life story of Lee Su-ho, who started with two dairy cows and built what is now a 100,000-pyeong ranch and, by personal brand standards, the largest ranch-style dairy processing company in Korea. Lee Su-ho's company covers raw milk production through yogurt·ice cream processing and sales, recording annual sales in the 10 billion won range. It has become a hot-spot ranch visited by 130,000 people annually, drawing widespread attention. In particular, the episode revealed the interior of Lee Su-ho's ranch, which has obtained not only organic certification but also animal welfare certification, capturing viewers' attention.
Lee Su-ho began his first job at age 22 with a promised monthly wage of 200,000 won, but the actual amount he received was about 130,000 won. After repeated unfair treatment, he eventually quit and, with his uncle's help, bought two pregnant dairy cows and entered the livestock business. As he rapidly increased the number of dairy cows and prospered, in 1997 a statutory livestock epidemic spread on the ranch and he faced hardship. Despite two years of testing, the epidemic did not disappear, and he suffered the pain of burying 100 cows he had cared for like his children. The losses amounted to 300 million won. Despairing, he restarted from scratch after a benefactor helped him buy 10 dairy cows. Ten years later, in 2009, he finally reached 300 cows and succeeded in rebuilding. On the secret to his success, Lee Su-ho proved the power of diligence with the phrase "cows and land do not lie."
Lee Su-ho is a first-generation pioneer who developed Korea's then-undeveloped organic milk market. He proposed organic milk trading to the corporations that were then purchasing his raw milk, and after a year of persistent preparation he introduced it to the world. The business ran smoothly and sales increased by about 60 percent, but about three years later it was hit hard by supplier bullying controversies at the buyer and a consumer boycott. When discussions arose about converting organic milk to regular milk, he made the bombshell declaration, "I will sell it myself." He then established a 150-pyeong factory on the ranch for organic milk production and began full-scale operations. The unwavering belief that "let's make it so my family can eat it" underpinned this. Ultimately, Lee Su-ho's stubborn perseverance led to collaborations with well-known corporations such as Starbucks and Kurly Inc., producing another leap forward.
Lee Su-ho's management philosophy was to "keep what should be kept." He said firmly, "There are no irregular workers; my motto is that wages are never late even for a day." He added the reason, saying that his experience of being mistreated at his first job was deeply humiliating. He also creates jobs by hiring local youth and regularly practices giving, donating about 40 million won worth annually of items such as yogurt and milk to elderly people living alone. Finally, Lee Su-ho conveyed his life philosophy by saying, "If you chase only money, you will do bad things without hesitation. If you live diligently, money will follow you." Seo Jang-hoon said of meeting him, "I feel that he is solid and has grit."
[Photo] EBS broadcast capture of Seo Jang-hoon's Millionaire Next Door
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