Today(6th, December 2021) is the 58th Korea Trade Day. I am very happy and proud to receive the Trophy of $20 million Export records. I would like to dedicate this honor to our LCC employees.

I received the $20 million Export Trophy two years after receiving the $10 million Export Trophy in 2019. I would like to express my gratitude to overseas Buyer for helping me achieve great results despite the difficult economic conditions due to the COVID-19. In particular, I would like to express my deep gratitude to Pieras CEO Hina and employees, who are making Propolinse Mouthwash into Japanese luxury brand through various promotions and pioneering new markets.

Thinking that we are taking a step closer to our LCC's vision of realizing "Being a hundred year company through export", We are determined to supply more perfect quality products to Japan and US Customers.

Most of the domestic Cosmetic Company export to China and Southeast Asia. Most of the advanced countries of OECD are OEM Production. On the other hand LCC exports are 95% to the U.S. and Japan with ODM products which developed with our technology. LCC, which has quality and price competitiveness, is in charge of production, and Buyers in charge of marketing and sales that grow Brand Power, maintaining an equal win-win relationship with each other.

The Export products composition ratio is 52% for LipCare, 44% for Mouth Wash, and 4% for Skin Care. LCC possesses the largest capacity in Korea of Mouthwash and LipCare. In addition LCC having its own production technology Knowhow, and has won $3 million, $5 million, and now $20 million export records after won the $1 million export records in 2010.

When i founded LCC company 24 years ago, the vision was a long-lived company. Even though our target market is the Niche Market, i have made great efforts to grow our own brand 'ORIOX' into a competitive brand.

As an OEM and ODM manufacturing company have limitations in growth and development, and a big and small crisis always exist that had to give up production and sales according to the customer's decision. Therefore, i developed own brand products for niche market instead of Mass Market. First, I chose sauna cosmetic product and overwhelmed large companies with our strong point of price competitiveness.

Based on our quality and price competitiveness, Daiso and E-Mart(No Brand) products have been developed in various ways, and after a decade, 'ORIOX' sales have finally exceeded 10 billion won per year.

The small success at the Niche Market in Korea has given us some confidence, and we have expectations that our LCC's competitiveness will work in overseas markets.

After exploring the US market with Body Lotion products, mouthwash products entered the Japanese market, and finally discovered the possibility, Propolinse Mouthwash, which 'contains Propolis and allows you to see debris with your eyes' gained popularity among consumers in Japan. Subsequently, Vaseline Lip Care products from various packages are creating a miracle of becoming the top brand in the U.S. market. In fact, most famous brands in Korea have grown with huge marketing costs for publicity and advertisements, but they cannot be sold as famous Brand Power products in overseas markets such as the United States and Japan.

Large-scale marketing cost was aimed at domestic markets and consumers. On the other hand, overseas markets, this products is unfamiliar brand. Famous native products are dominating the oversea market. Therefore, we have constantly knocked on the overseas market with various products with price and quality competitive having our products thinking that some day our products finally success in the future.

Exporting company can contribute greatly to the national economy while improving national image into external. Internally, upgrade quality and productivity to grow into global company.

South Korea! With a population of 50 million people living in a narrow land of 100,000 km2. The population density ranks fourth in the world, but it does not have any proper natural underground resources such as oil and steel. South Korea was spent national isolation and seclusion of colonization from japan 36 years.. Also devastated by the Korean War, which killed 3 million people. But South Korea become the world's 10th-largest economy after 70 years of turbulence.

In the early 1960s, the gross domestic product per people was $80. It became to $32,000 in 2021year. The number of cars registered exploded from 0.25 million to 20million. The enrolled mobile phone(cell phone) quantity is about 55million which is more than population. We joined the ranks of the proud advanced countries from the underdeveloped countries.

Except for Singapore, the only country that entered the advanced country after World War II is regarded as a representative success story showing the superiority of the free market economy with people's desperate efforts. It can be concluded that Korea, which had no decent capital or technology, achieved remarkable economic growth in the world because of fostering the export industry, shouting, "Export is the only way to live."

Exports, which stood at only $100 million in 1964, emerged as the world's sixth-largest exporter of $630 billion this year, and foreign exchange reserves increased 24 times from $20.4 billion in 1997 to $470 billion, and the current account surplus in September was $10 billion for the 17th straight month.

Manufacturing-oriented export drives are creating jobs, boosting the domestic economy, and driving economic development, with the proportion of agriculture, forestry, and fisheries falling sharply from 48.2% in 1953 to less than 2%.

Exports are leading the productivity improvement, technological innovation, and industrial structure of the manufacturing industry, and have a wide range of ripple effects on longitudinal and transverse service industries such as transportation, warehouses, and insurance.

Trade dependence of 100% (50% export) is that one out of two domestic manufacturing factories is operated as exports, and 50% of workers are hired from company because of exports. If the export-oriented manufacturing base collapses, the difficulties of our economy will result beyond imagination, so we need to export our products to various regions of the world with quality and price competitiveness through quality and productivity innovation.

Therefore, rather than obsessing over a relatively safe domestic economy, we should rush into the overseas market where opportunities and challenges await.

People were born into this world regardless of their will, but they are not just thrown meaninglessly and are thinking that they are living with a mission. If graduating from college and retiring from their work is called a 'primary mission', 'secondary mission' is to achieve something through start and manage their own business.

I think that i don't live on my own, but something a great power lead me. I also believe that there will be a heavenly command imposed by the invisible sky on me. I also think, 'When a person is born, each person receive a script. The writer, director, and leading actor are themselves, so the play that unfolds as planned is our life.'

Therefore, while running a business, I wrote a personal mission statement every year and asked myself "Who am I? What am I living for and what should I do before end my life?". I think the answer is that established small but stable company, forge a path which is heading to one hundred year company with export for performs social responsibility well.

Looking back on the 24th year of its foundation, it has acquired manufacturing know-how and quality management through OEMs of global companies for the first 10 years. And we had been strived to innovate the management to develop our own Brand ORIOX for being a long-lived company through export for the second 10 years.

Export products are also challenging the $30 million goal by spreading Dispenser mouthwash to the US market, surpassing the $10, $20 million from mouthwash and lipcare.

We have been developing Dispenser for the US. for more than three years and have completed product promotion video production, and are taking a step closer to targeting Fast Food stores in the US with selection of dealerships and market segmentation.

I would like to express my gratitude to Byung-ho Park, head of the production department, who has been doing his best to be competitive in quality and price, and Hyun-Ki Min, head of sales department, who has been busy exploring overseas markets. I sincerely hope that in two years, I will be able to reach the position of honor of winning the $30 million export trophy again.

CEO BAIK, SUNGCHUN