Former CEO helps local startup for growth

Nam Jung-gon, Namu Technology Vice Chairman

By Kim Yoo-chul

Nam Jung-gon, a former chief executive at TmaxSoft, is trying to help local startup Namu Technology grow after becoming a stakeholder in the company.

Nam previously worked at LG Group and Hynix Semiconductor, which is now SK hynix, as a chief information officer, for decades. During his time at TmaxSoft, a local software vendor, Nam helped Tmax expand its business beyond the Korean Peninsula.

“April 6 was my first day as a Namu Technology man. My key focus is how best to fit my experience, contacts and knowledge into new business models. Amid connectivity, local small- and medium-sized enterprises (SMEs) could take a central role in leading initiatives for a new ecosystem,” Nam told The Korea Times by telephone.

Namu Technology was founded in November 2001 with initial capital of 500 million won. As of January this year, the firm had 80 employees, according to the company.

He said he is happy to see that Namu employees are full of “can-do” spirit.

“Although, Namu is a small firm, the company's workforce is connected, proven and highly-competitive. Also, they are visionary. My role is how to guide them in the right way,” said Nam, the vice chairman of the company.

Specifically, he plans to help Namu increase their presence in virtualization and cloud computing industries as most of Namu's key clients are Samsung and LG Group technology affiliates.

Nam stressed the significance of the role of local SMEs to sustain the economy and to find new industries.

“The technology divide between large firms and SMEs has been widening and is poised to increase further. I think narrowing the divide could be especially important in Korea, where SMEs have struggled to compete against large firms,” Nam said.

According to a recent study by Boston Consulting Group, the country's SMEs are leading the way in adopting advanced technology, especially those related to mobile, which are growing twice as fast. They are also adding jobs up to eight times faster.

The Namu vice chairman Nam talked about a plan to invest more in software patents as he believes patents have become an important factor to decide the fate of companies and help them seek new business opportunities.

“Let’s see what happens. I want to prove myself that Korean SMEs such as Namu Technology can lead initiatives in new business areas that a lot of big companies are eyeing,” Nam said.