Pleasure Without Struggle

"Scarcity creates innovation." The 14-year journey of Park Hyun-ho, CEO of Kmong, proves this statement. As of 2025, Kmong, with an annual transaction value of 1 trillion won, 3 million members, and an impending IPO, once blossomed from a desperate situation. On a night in 2015, with a 20 million won payment due to freelancers, the bank balance was at rock bottom. 700 million won in investment capital had vanished, and employees had left. This was a continuation of a past marred by 11 business failures, hundreds of millions of won in debt, a credit rating of 10, and an office-tel with no electricity. Ultimately, he fled to Jirisan Mountain, where even the internet was unstable, and cultivated an paradoxical concentration within "30 minutes of internet access." Inspired by observing Israel's Fiverr, CEO Park, after his collaboration proposal was rejected, personally created 'Kmong' in just two weeks. Although it was a "shabby and crude" start, the story of the Jirisan developer garnered attention. In its early days, Kmong, amidst over 60 competitors, attracted many onlookers with its unique service, but payments were minimal. In the desperate year of 2015, in a situation without money, CEO Park came up with the idea, "What if users could pre-charge?" 'Kmong Cash,' implemented in two weeks, encouraged users' voluntary top-ups and soon led to a powerful lock-in effect. This innovation, born out of scarcity, propelled Kmong to a unique position where it "didn't matter whether they received investment or not," surpassing numerous competitors to grow into the undisputed number one. CEO Park Hyun-ho states, "I've never overcome failure. I simply enjoyed it." He confesses that true growth didn't come when funds were abundant and he couldn't focus on the core, but rather when he immersed himself in the essence amidst extreme scarcity. The moments in Jirisan with no internet, having to hire juniors due to lack of resources. All these scarcities forged innovation and today's Kmong. His 12th challenge is still ongoing.