AVING News interviewed Min Jeong-hyeon, the CEO of Balance Market, which participated in the MIK HOT SPOT (Made in Korea Online Exhibition) Seoul Food Startup Center.
Please introduce your company briefly.
Hello, this is Balance Market. We are a
company that manufactures and sells food products for a balanced and healthy
life. We are preparing a variety of foods, starting with a simple meal kit and
healthy juice that are completed in one pack. We dream of a society that promotes
not only balance in food but also the balance in life, creating a healthy life
with a healthy body and a healthy mind.
Please introduce major products.
The first product to introduce is the
Balanced Juice Kit. It is a meal kit which you can make juice at home with
fresh and healthy ingredients. Fruits and vegetables are blended deliciously
and prepared in one pack, which can be made to suit the taste of consumers.
Fruits and vegetables that give vitality to life are made with know-how without
the hassle of preparation. Take a drink a day for my body in my busy day.
Second is ABC Juice, which is also known well overseas. Also called miracle juice, is a juice made with apples, beets, and carrots which literally stand for the alphabets ABC. The recipe itself is very simple, but the process to make is rather complicated, so we started selling it in collaboration with a professional maker. We are confident that the energy and nutrients from good ingredients have been added to the natural sugar content to ensure taste and health.
Please introduce the staff of Balance Market.
Balance Market was founded around October
last year by two CEOs. It is a brand created by CEO Min Jeong-hyun with a quick
understanding of the customer base and product planning ability and CEO Jeon
Yong-mu with the ideas and productivity from running an online market that
CEO Jeon Yong-mu: After 7 years of working
in the Hyundai Motors' Sales/Service Business Division, I established a juice
company called "Jeup Story" and currently operating it. Based on my
juice-related experience, I founded a brand called Balance Market. I am in
charge of product and production planning/R&D. I am maintaining the
production facilities to supply the juice products sold in Balance Market with
CEO Min Jeong-hyun: While working in the
education industry related to the entrance exam in Daechi-dong, CEO Jeon asked
me to join. Since I like kids very much and I have high standards about food, I
could represent consumers of various age groups in the process of launching the
products. I am in charge of quickly grasping the needs of major customer bases
and planning products that fit the trend. I am meticulous and realistic, so I
focus on establishing a stable system for company operation.
We have divided the roles according to the
tendencies and career experience, and we face many differences in opinion when
we run one company together. But, we share the thought that the most important
thing in the food brand is product power, so we communicate a lot when we run
the company. When the product that we had developed for more than six months is
about to be launched, we discuss on the marketing and promotion for the
product. We are planning to invite experts to do this in the future.
What are your plans for the future?
With the slogan "Balance, your life!" we
are going to expand the categories for healthy life, and the type will not be
limited to food. We are going to make the effort to share health and good
energy wherever people live, and we will grow as the company that provide the
food that can provide balanced daily nutrition, and furthermore propose
lifestyle. This summer, we will launch 100% watermelon juice as the new
Which countries are you targeting for
The primary countries of target are
Southeast Asian countries like Singapore, Vietnam, and Thailand. As Southeast
Asia is rich in fruits, people there have the access to a variety of food and
beverages. But, what we want to provide is not just the juice that tastes
delicious, but the beverage that has a purpose, that can replace the meal by
having an understanding about the fruit itself and with manufacturing
Together with the Korean Wave, which is
making a sensation in Southeast Asia, we are trying to spread the culture with
a difference from the existing local juices in relation to the keywords
We are planning to enter Vietnam where
there are plenty of the ingredients necessary for healthy juice to both sell
and receive the ingredients, making it possible to manufacture and sell some
products. Then, we will expand to other Southeast Asian countries.
Any last words you would like to say?
Balance Market will actively reflect the
know-how and current trends through juice manufacturing experience and propose
customized foods that are essential to consumers. By developing products using
materials from Southeast Asian countries, we intend to do business in a
structure that enables collaborative planning/production/sale. We look forward
to the interest of Southeast Asian companies. I think we can become good
partners to grow together in the future.
Seoul Food Startup Center, which
participated in MIK HOT SPOT (Made in Korea Online Exhibition) is providing
support to the agri-food-related companies come up with innovative ideas and
new products. It is supporting food processing technology, licensing, patents,
design, and promotional marketing so that agricultural products can be reborn
as high-value products. Various startup support services such as ▴Startup training
▴Mentoring ▴Consulting ▴Investment connection are
The official of the center said, "We are
fostering start-up agri-food companies to help develop new competitive
products. This is going to lead to the exports of Korea's excellent agri-food
and create more jobs, becoming a new growth engine for Seoul."
The global news network AVING News has
begun holding the MIK HOT SPOT (Made in Korea Online Exhibition) to help small
and medium-sized companies enter the market and attract investment 365 days a
year' AVING News has been running online exhibitions since 2005 and had 975
online exhibitions so far. Its YouTube online exhibition has placed itself as
Korea's largest online exhibition hall that opens with 19,000 videos (booths)
with more than 800,000 visits per month which means more than 10 million visits
The MIK HOT SPOT online exhibition is
scheduled to be held regularly according to the field, target market, and
participating institutions, and it will be presented as a new type of online
business by transforming the know-hows and values of the participating
companies according to the trend. Companies that want to participate can apply
and apply through the marketing support projects from supporting institutions
in the local governments. Refer to the institutions for more information.