KOSPI-listed Taewon Mulsan is moving to shift from a traditional manufacturing-centered business structure to a "global intellectual property (IP)-based brand specialist corporations." Using the hit "Where's Wally?" exhibition in Seoul's Seongsu-dong as a starting signal, the strategy is to foster its own-brand business as a core growth engine.
Taewon Mulsan said on the 5th that to break out of the low-growth trend in its existing businesses such as auto parts manufacturing and food material distribution, it will cultivate a "proprietary brand business" that it plans directly and for which it secures ownership as a main business.
The key weapon in Taewon Mulsan's brand strategy is partnerships with global content corporations. Taewon Mulsan recently concluded a series of strategic deals with Universal Studios and Japan's IP specialist corporations SMG Holdings, building an IP portfolio. Rather than merely importing and distributing overseas characters, the company applies global characters with deep fandoms to products it plans itself. Through this, it aims to overcome the new brand weakness of "low initial awareness," boost marketing efficiency, and build strong brand power in domestic and overseas markets.
This strategy is already getting a good response in the market. The "Where's Wally?" exhibition underway in Seoul's Seongsu-dong is drawing about 20,000 visitors a month, continuing its success. This exhibition is a project that Taewon Mulsan oversaw from planning to operation under a direct licensing agreement with Universal Studios. The company emphasized that it went beyond simple exhibition agency work and reinterpreted a global IP to fit domestic trends.
Taewon Mulsan plans to expand its exhibition success into food and beverage (F&B) and the broader lifestyle sector. It also plans to directly enter overseas markets and establish itself as a global brand. To accelerate the business, it is considering investments in promising corporations and additional strategic partnerships.
Through its proprietary brand business, Taewon Mulsan aims to improve its revenue structure, setting an initial goal of 50 billion won in sales this year. It plans to transform from a simple manufacturing-centered corporations to a brand-owning corporations and seek a revaluation of its corporate value.
A Taewon Mulsan official said, "Driven by a sense of urgency that the existing manufacturing model can no longer guarantee survival and growth, we have spent years preparing new IP-based businesses," and added, "Leveraging proven global IP and our independent brand planning capabilities, we will lift our undervalued corporate value."