'Lee Kum Kee seeks coexistence with partners'

By Bahk Eun-ji

HONG KONG ― Lee Kum Kee International Holdings, the world largest oyster sauce maker, seeks to prosper alongside its business partners, said its chairman and CEO Charlie Lee.

Oyster sauce was invented by Lee Kum Sheung, founder of the company in 1888 in Nanshui, a small town in Guangdong, and it has been handed on through four generations.

The Hong Kong based company doesn’t disclose its annual turnover officially because it is a family-run business. However, it is rumored throughout the industry that annual revenue is around 10 trillion won.

It produces more than 200 Chinese style sauces and around 800,000 bottles of the oyster sauce are sold in 100 countries around the world.

“We aim to raise our sales to 10 billion Hong Kong dollars by 2015. We have been growing together with our business partners ― which is our business philosophy,” said Lee during an interview. “Seeking profits based on mutual understanding together with our business partners is a win-win game and it’s our mission statement.”

Lee said these are the essential values that have helped the company be a leading global company for 125 years.

Lee Kum is the name of the founder of the company, and Kee is a Chinese word that means a new family business.

All the sales come from a single categorized product: sauce.

“It is mainly because we have operated the business in accordance with the company’s principles of evangelizing Chinese food as well as its culture to the world,” the CEO said.

Although it is a family-run company, Lee said they strictly observe strict business principles.

“We established the Family Council (FC) with 28 family members to supervise the company. In other words, the FC is the top legislative organ,” Lee said.

Lee also noted that at least three years of work experience in the company or at others is obligatory for entering management of the firm.

“I’m proud of the 125-year-old history of Lee Kum Kee and of course, it will keep providing great quality sauces with Chinese culture now and forever,” he said.