NEXTEYE "become a company that covers Korea, China, and the U.S."

"Increasing orders for inspection equipment from the end of last year"

"Korean companies are highly reliable, so the export process is not strict."

NEXTEYE CEO Sunny Chen(Chen Guang)

Jin Kwang (Chen Guang), CEO of NEXTEYE, said in an interview with Top Daily on the 26th of May 2022, "We are focusing on exporting cosmetics to China, the United States, Singapore, and Malaysia under the name of NEXTEYE." In this interview, Kim Ryeo-yeom, who is the chief financial officer (CFO), played a direct interpreter.

CEO Jin Kwang, a Chinese national, acquired NEXTEYE in February 2016. Yumi, a beauty business run by herself in China, also purchased a stake in NEXTEYE's management rights through the International Beauty Chain Group Limited. In the meantime, he also acquired permanent residency in Korea and is mainly staying in Korea. I was misunderstood when I took over NEXTEYE. It was misunderstood that he was a Chinese who acquired a KOSDAQ-listed company for simple trading profits.

Now, such a misunderstanding has been overshadowed. CEO Jin Kwang is more of a "serious" owner of NEXTEYE. Since the acquisition of NEXTEYE, relations between South Korea and China have been estranged due to the deployment of THAAD, and the new coronavirus infection (COVID-19) has been prevalent around the world, adversely affecting businesses. Nevertheless, CEO Jin Kwang is focusing on NEXTEYE growth.

CEO Jin Kwang said, "The quality of Korean cosmetics is global," and stressed, "We will make efforts to make cosmetics brands conducted by NEXTEYE 'globalize' based on the know-how and network accumulated in China."

NEXTEYE was established in September 1998, right after the financial crisis in Korea. It is a company started by six researchers from Samsung Electronics. The name NEXTEYE has been used in the sense that inspection equipment replaced the human eye. Even though the owner changed, the sign did not change. This is because the meaning of the company name was good. In addition to the existing inspection equipment business, CEO Jin Kwang is also presenting NEXTEYE overseas for cosmetics businesses.

Sales of NEXTEYE 's cosmetics business, led by CEO Jin Kwang, account for 42% of total consolidated sales. The existing LCD inspection equipment business is somewhat sluggish, and it also has the effect of relatively increasing the proportion of sales to the cosmetics business. However, there was diversification in sales due to the influence of COVID-19. This is because it is difficult to sell face-to-face, so it is because it has found other ways to sell Sales using online platforms are increasing.

The cosmetics business is being carried out in three regions. It is China, the foundation of Jin Kwang, Southeast Asia, and the United States. In the case of China, online duty-free shops are used as product sales destinations. All products are custom-made and are subject to local orders. Even if it is the same cosmetics exported to the 3 regions, it uses designs and colored packaging preferred by local customers.

Product promotion utilizes influencer (influencer) marketing. influencer refers to people with as few as tens of thousands to as many as tens of millions of subscribers (followers) on social networking sites. Subscribers believe in the products they use and buy them accordingly, which is called influencer marketing. In China, such an influencer is called "Wang Hong" (short for Wang Luo Hong-ran).

CEO Jin Kwang said, "The advantage of the duty-free platform in China is that it can be supplied quickly without procedures such as hygiene permits," adding, "The product quality is also good, so overseas consumers are very satisfied."

CEO Jin Kwang is also preparing new products. It is a product that protects the skin by blocking ultraviolet rays when exercising or hiking. It is expected to become popular in the Chinese market, where the golf population is growing due to the patch. It is also considering simple dyeing-related products such as dyeing shampoos that have recently been released in Korea.

He also expressed confidence in NEXTEYE 's performance this year. It recorded operating losses for three consecutive years until last year, and it is necessary to achieve a surplus this year.

"Since the end of last year, orders for LCD inspection equipment have been increasing," CEO Jin Kwang said. "Since the end of last year, large companies, which are customers, are increasing their investment in equipment that they had withheld due to COVID-19." He then explained, "These sales have been reflected since the first quarter, and we continue to win national projects, which are small in size."

NEXTEYE achieved individual sales of 4.47 billion won, an operating profit of 597 million won, and a net profit of 3.19 billion won in the first quarter. Sales increased 65.1% from the same period last year, and operating performance turned into a surplus.

CEO Jin Kwang is also a goodwill ambassador for Korea-China at the Korea Trade-Investment Promotion Agency (KOTRA). It's already been six years. It was an event related to the Chinese business, and after visiting Korea six years ago, investment in NEXTEYE and others continued, and it became related to KOTRA. It plays a role in helping Korean companies enter the Chinese market in a kind of consulting format. For example, it provides detailed advice on the procedures and methods of selling products that the Chinese market needs.

https://www.topdaily.kr/articles/90929