Press

"Meet, Talk, Think, and Challenge" - Kim Jung-heon, CEO of Underdogs, Encourages Youth to Share Goals and Take Action A small company founded by young adults in their late 20s and university students has captured national attention. The company made headlines by introducing Korea's first themed share house where young people can live together at affordable prices. Kim Jung-heon, a young social entrepreneur who has consistently pondered creating 'better communities' by producing practical hearing aids for low-income deaf individuals, shared advice with '2030' generation youth. The seventh lecture of the 'JDC University Student Academy' 2015 Spring Semester was held on the 21st at 4 PM at Jeju National University's International Exchange Hall, hosted by Jeju International Free City Development Center (JDC) and co-organized by Jeju National University and Jejuuisori. Kim Jung-heon, CEO of Underdogs, founded multiple companies addressing social issues: Delight, which sells hearing aids at affordable prices to low-income individuals; WOOZOO, which solves student housing problems; and Underdogs, which thoughtfully addresses various social problems sustainably. Kim explained how he founded Delight in 2009, which brought him recognition. At that time, the cheapest hearing aid model in Korea cost approximately 2.4 million won, yet production costs were under 200,000 won. Discovering this, Kim said, "Low-income deaf individuals were being excluded from hearing aids due to high prices," and this insight led to his business idea. Delight set its selling price equal to government subsidies (340,000 won) provided to deaf individuals, while gradually improving functionality. Today, it operates as a solid mid-sized company with annual revenue of 5 billion won. After establishing Delight's success, Kim left the company and brainstormed new ideas with ten university student interns. From 50 ideas addressing social issues like environment, healthcare, women's rights, and human rights, WOOZOO, a share house business, was selected. Kim explained, "Simply solving housing problems seemed boring. I thought young people sharing interests could live more enjoyably together, so I conceived theme-based share houses." Starting with one remodeled house involving student co-founders, WOOZOO has grown to 18 locations in Seoul. Kim stated, "While schools and the government provide scholarships to diligent students, they don't provide 'housing scholarships.' Housing issues are societal problems, not students' failures." He added, "In Seoul university districts, tiny rooms with only enough space to stretch your legs rent for 500,000 won deposit and 400,000 won+ monthly. Since the government can't address this and wealthy individuals and general companies won't supply affordably, social enterprises like us stepped in." WOOZOO's charm comes from being a gathering of young people sharing interests. Each of the 18 locations has distinct concepts: houses for film lovers, young professionals, artists, travel enthusiasts, cooking and dessert lovers, and more. Living spaces where people wanting conversation gather represent WOOZOO's vision. Kim revealed, "If I had started with real estate experts, the scale would be bigger and profits higher. However, I believed it was more meaningful to start together with the people I wanted to help—young people." The share house concept Kim pioneered is now operated nationwide by 150 companies and organizations including LH. He successfully fulfilled the role of raising awareness about social problems and providing forums for collaborative solutions. Kim didn't stop there. After leaving WOOZOO, he created Underdogs, a sort of 'think tank' company identifying social problems from higher perspectives and deriving solutions. Kim told Jeju university students sharing his 20s, "Think and act together." Even without social enterprise or startups, if interested in a field, find people sharing that interest and brainstorm together. Kim emphasized, "Among such people, some will realize their dreams. Getting inspired, you can explore different fields and achieve growth. Even in club activities, with this mindset, it becomes more meaningful." He encouraged students: "Many lecturers come here saying 'I envy you university students.' While it's a common phrase, I agree. You have infinite potential. You might think perfect preparation before challenging is important, but what matters is executing good ideas as quickly as possible. Feedback during the process naturally creates change." Kim concluded, "I hope you find meaningful work and live each day joyfully. Through this process, unexpected paths will open before you."