Recently, the Ingenuity Lab of the University of Nottingham Ningbo China successfully held a roundtable event entitled "From YouTube Content Creator to Cross-Border Contents Business Entrepreneur: Strategies, Insights, and SuccessStories". The event invited Mr Dongrin Kim, the co-founder and CEO of Rebel Corporation, a company that specializes in cross-border webtoons and web novels, and his entrepreneurial partner, who brought profound insights and valuable experience sharing with the audience their entrepreneurial experience.
The event was hosted by Dr Luke Younghoon Chang, Associate Professor in Marketing & Analytics at the Nottingham University Business School China. At the beginning of the event, Mr Kim first reviewed his entrepreneurial starting point as a YouTuber who loves creation. Initially, he and his two entrepreneurial partners produced street interview content, inviting passersby to taste their Vietnamese coffee products. This novel and interesting video quickly became popular on the internet, from a few people watching at the beginning to 100,000 views in a week, and now has millions of subscribers. Mr Kim and his team have achieved remarkable success on YouTube. During this process, they not only accumulated a large fan base but also inspired their passion and motivation for entrepreneurship.
However, the entrepreneurial road was not smooth sailing. After achieving success on YouTube, Mr Kim and his partners decided to go to Vietnam to develop and open a Vietnamese restaurant. Behind this decision was their thoughtful market research and deep insight into the Vietnamese business environment. They found that Vietnam's coffee shops and catering industry have huge development potential, especially in foreign tourist areas. So, they resolutely set foot on this land full of opportunities and challenges.
During their entrepreneurship in Vietnam, Mr Kim and his team encountered many difficulties and challenges. Due to a limited budget, they could only work in a Vietnamese coffee shop at first, working hard from morning to night, building connection with staff, and deepening their understanding of Vietnamese coffee-making techniques. At the same time, they also actively accumulated contacts and experience, preparing for the opening of their restaurant. After months of searching and the help of intermediaries, they finally found a small shop on the main street of a foreign tourist area.
As a transnational entrepreneur, Mr Kim understands the importance of adaptation and integration. They did not simply copy the local cuisine but designed a menu with their own characteristics and innovative spirit. By studying and understanding the Vietnamese market and culture, they were able to better adjust their business strategies to meet the needs and preferences of local customers. This flexibility and innovation became one of the keys to their success.
However, the restaurant's opening period was not smooth. On the first day, they only made USD 50 in revenue. In the face of this dilemma, Mr Kim did not give up. He keenly realized the importance of online platforms like Tripadvisor in attracting customers and began to focus on improving online reviews and rankings. After tireless efforts, their restaurant's ranking on Tripadvisor gradually increased, and customers started coming in to taste the food. Eventually, the restaurant became profitable two months later, marking a turning point in their business.
In his subsequent sharing, Mr Kim also mentioned how they flexibly responded to challenges and seized opportunities during the pandemic. When the restaurant business was severely affected, they decisively turned to the Webtoon industry, using their fan base and innovative capabilities to develop a new business model. By hiring programmers and developers to build their IP, plan, and develop stories, they successfully broke into the Japanese and American markets. In this process, they not only demonstrated extraordinary flexibility and innovation but also showed a keen insight into and grasp of market trends. Recently, his team has raised KRW 9.2 billion in funding, aiming to build a global content company.
In the final part of the event, Mr Kim and his entrepreneurial partner, Mr Sungrak Choi, interacted with the audience and shared their entrepreneurial insights and lessons learned. They encouraged everyone to maintain innovative thinking and flexibility in the face of difficulties and challenges. Their sharing not only provided valuable experience for the audience but also inspired everyone's passion and motivation for entrepreneurship and innovation.