I'm happy to be joined by Mr. Wayne Park, CEO of ThyssenKrupp Korea. So nice to meet you. >> Very nice to meet you, thank you. >> Mr Park, can you tell us about the producst and services marketed by ThyssenKrupp Korea? >> Yes, we are a global company. So we have a global key product, three product which is called MULTI, and TWIN, and ACCEL product. It's new product, new concepts. So it needs to be explained more. Multi millions, we say revolutionary, rope-free elevator. So, it moves horizontally, vertically. And second TWIN Is two cabin is moved in one shaft. Traditionally, one shaft only one cabin. So totally different concept. Third one is ACCEL, it's an advanced moving walkway. It's speed is different. When we enter the speed is very slow, and full speed and finally we get off, the speed is down. This concept is different, the speed is very fast. >> These are very new kinds of products, especially the MULTI vertical as well as horizontal. >> Right. >> Sounds very radical. I went to your home page and it states on the front page, Engineering Tomorrow Together. Is this the company vision at ThyssenKrupp? What does that mean, Engineering Tomorrow Together. >> It's kind of brand slogan. When we launch our new brand last year, we developed this new slogan. Because our ThyssenKrupp group is mostly technical background company. Engineering is very important so we follow this engineering. And together tomorrow also we are developing products for future With our employee and our customers as well is key concept of this new brand slogan. >> So the Tomorrow implies innovation? >> Sure. >> And Together implies customer orientation? >> Right, right, right. >> Very good, this course is about international marketing in the B2B context. And I wanted to know is the marketing conducted by ThyssenKrupp similar across country? For example, similar between Korea and China and the US and Europe. Or are there some significant or subtle differences in how elevators are made and sold? >> Is product wise, our strategy is very global strategy. But implementation is based on marketing and customer segment. But small entity like small country, small volume country. They don't care about the specific market strategy. But Korea relatively big demand, market demand, big organization. We do develop our own strategy. So own strategy means we develop our own optimization in terms of car interior design and fixture design, and so on. >> Okay, and can you give us some examples of what you did in Korea? I know about the Synergy project so can you talk a little bit about that. >> Yes unlike Western country, Asian country mostly and good ride for the elevator, and good, stylish design. Rather than very practical, pragmatic approach. Is this the starting point. So as Korean people, I say on your lecture, in terms of function and design, etc. So we focus on these kind of requirement. >> Okay, and it's been very successful. The Synergy Project, as far as I know. >> Yeah, thank you. [LAUGH] >> Okay we talked about the brand slogan. And how innovation is important, it's reflected of the tomorrow part. Can you tell us about some examples of innovation at ThyssenKrupp, not only globally. But also here in the Asian market, such as in Korea. >> As a nation globally we have very successful global product, MULTI, Twin, ACCEL, but in the country right now we don't have very innovative approach. But we try to differentiate okay, it's competitor not competitor in Germany, not competitor in America. Our competitor only in Korea. This starting point so we develop. New one, new step for the new aesthetic, very hard to explain new aesthetic. But it's very important, I believe a small change make a big value to the customer so this- >> [LAUGH] I definitely agree. >> This where I'm starting when I join here, I start when I develop product. I order my people, we need develop at least 20 USP, against competitor. Otherwise we cannot survive, not only now and the future. >> Okay so when you say USP you mean you mean Unique Selling Proposition. >> Right. >> So you offer 20 unique selling proposition to the customer. >> Yes. >> Wow, and that's more than in other countries. >> Yeah I think so. >> Okay, very good. I hear that Korea is being seen as the hub of urban mobility at NyssenKrupp, not just for Asia, but also even globally. So why is Korea, why has Korea become so important? Why is it considered the hub? >> I think there are three reasons. Firstly, the market demand of elevator is not small. Korea is about ranked five in the world so the market demand is big. And second one is, as I mentioned Korea customer, mostly [INAUDIBLE] so they try to, they like the new one. Third one is we have very strong supply chain in manufacturing product side. So when we develop a new product, we have very strong supply chain background. So very fast develop and apply to this in the feel of it from the customers. That's three point I think. >> Okay, and as being the hub. If something is very successful in Korea than you can export that where other countries can benchmark that. >> Yes. >> And try it in their own country. >> Yes. >> Okay lastly, this course is also about the cross industry innovation. So what are some of the non-elevator or moving related industries that ThyssenKrupp has benchmarked to develop innovative ideas for new products? >> Yes, to benchmark, benchmark is important but it's not mentioned in the country level. Talking about country level benchmark, we try to hire from another industry. For instance we hire industrial designer from mobile phone industry. >> Wow, why? >> To differentiate our fixture and static area. It's one example. >> Right yeah. >> Thinking via living in the computers era, right. So it's very important to differentiate. This my answer. >> Okay very good, so the aesthetics. You have emphasized so much, it doesn't have to just come from elevators so something that is sleek and high tech and convenient >> Right. >> And I think that's what a smart phone is. In many respects, not just communication but the design in the smart phone is very important. So you're benchmarking that and therefore you hired someone from the IT industry, from the smart phone industry for that purpose. >> Yeah, right. >> Okay, thank you very much. This has been very insightful. >> Thank you.
