'We turn useless into useful'

Morethan CEO Choi Yi-hyun, right, poses with the company's Continew backpack at its store at the JDC Duty Free Shop at Jeju International Airport, Aug. 10. / Courtesy of SK Innovation

By Nam Hyun-woo

Morethan has become one of the most mentioned social enterprises in Korea recently, after not only celebrities but also the country's top economic policymaker endorsed the company's bags for recycling used car materials.

Its CEO Choi Yi-hyun says the company's purpose is aimed at not just changing useless materials to useful ones. The social value which Morethan is seeking is to send job seekers who have been neglected or have dropped out back to work.

“It is important to turn useless materials into useful ones, but more important are the people needed for such a process,” Choi said during an interview with The Korea Times. “That's why we prioritize North Korean defectors and women who have had career breaks in our hiring process, so they can be part of a useful workforce and have their position in the society.”

Established in 2015, Morethan makes bags and accessories by recycling car materials, such as seat belts, leather seats and air bags. Under its brand Continew, the company's bags and accessories are endorsed by celebrities including RM of BTS, Yeri and Wendy of Red Velvet and comedian Kang Ho-dong.

In March, the company made headlines after Deputy Prime Minister Kim Dong-yeon purchased a Continew backpack during his meeting with SK Group Chairman Chey Tae-won. SK Innovation has been supporting Morethan since 2015 in part of its program for nurturing social entrepreneurs.

Another reason that Morethan is recognized as a social enterprise is that the company provides advantages to jobseekers from socially vulnerable backgrounds, such as North Korean defectors and women who have had career breaks. Of 17 employees, four are from such backgrounds.

“The number changes often because many of them think this is not their lifetime job but a stage for them to gain experience. Though this may not be their lifetime job, I am pleased to prove they can do various things in the job market,” he said.

After Continew products' official launch in September last year, the company's sales quickly hit its stride, reaching 350 million won ($308,500). Choi expects more than 1 billion won in sales this year, as the company's monthly sales average is expected to be 150 million won this year. Currently, its products are selling not only in Korea but also in other countries including the U.K., Germany, Switzerland and Japan

Along with the company's momentum, Morethan has opened a shop in JDC Duty Free at Jeju International Airport on Aug. 10, as the duty free operator, JDC, proposed Morethan should open a store.

“We decided to open a Continew store to join the movement of supporting social enterprises and nurturing the environment for such companies,” a JDC official said.

On the first day of its opening, sales surpassed 2.3 million won, showing that social enterprises can also be profitable.

“It was a great pleasure to have Continew's social value and product quality recognized and have the company open a store in the duty free shop,” Choi said. “We will not be complacent but continue making efforts to create greater social value.”