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Interview with Mr. Pyo, CEO of Wizardworks

 

            In 2001, there was a territorial dispute between Japan and South Korea regarding an island called "Tokdo". During this dispute, there was a man who rose to eminence, Mr. Pyo Chul-Min. He was introduced as a sixteen-year-old CEO of a web-domain resale company who donated a URL (uniform resource locator): "www.tokdo.co.kr" to the Tokdo-Guardian. Despite his contribution to a patriotic organization, Mr. Pyo had to experience a consequential, painful failure when his business was exposed to the public as a teenager-ran business; his customers did not trust the young entrepreneur anymore. He was sued and all his friends left. But he never gave up.
             The founder and CEO of Wizard Work, Mr. Pyo found his interest in web-related market when he was just sixteen years old. Without permission, he purchased seven web-domains that worth 490dollars. Little did he know that buying these websites would establish himself as a youngest entrepreneur in South Korea. At first, he just enjoyed decorating his websites and increasing number of guests. However, Pyo was requested by few visitors to decorate and encode the domains. Although he started for free, he saw the potential of web domain's future value as he received increasing number of requests. He started by resaling the web domains. When he was certain that this business will succeed, sixteen-year-old Pyo created with his friend an automated resaling program. Every time he came back home from school, he would have already made $2000 transferred to his account. Experiencing the real business world in such a young age, his aspiration pushed him to no end. "Wizard Works" is a web-mobile service company rooted in Korea. The company has been working on web-widgets that have been used among popular Korean portals and blogs, such as Naver, Cyworld and etc. His company's organizing module was sold to Samsung for high value. However, the wide-usage and one big contract did not compensate for the lack of profit; Pyo had to face several failures.


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