Yoon Seok-geum, chairman of Woongjin Group, started working on coming up with new business schemes from mid-2014, right after the group graduated from the court receivership just in one year.
He visited his publication house Woongjin ThinkBig every week and presided over various meetings and presented ideas for himself.
The first fruit of these efforts was the creation of a “Book Club.” Yoon instructed to change Woongjin ThinkBig’s previous focus on publishing complete series. ThinkBig changed the way of selling its complete collections and turned them into e-books, allowing users to enjoy them through tablet computers.
ThinkBig turned complete collections which cost several million won per set into a tablet PC form and allowed users to enjoy it at a low monthly subscription price of 50,000-100,000 won.
Yoon added ICT and Woongjin Coway’s rental business ideas into the publication industry. This faceoff paid handsome dividends, with the number of subscribers growing at a rapid pace. The number of subscribers to the Book Club which was introduced first in August 2014 rose to more than 100,000 in December 2015 from 50,000 in March 2015 and 13,563 in the beginning.
