fipp.com Q4 2008 | Magazine World | 21
MAGAZINE WORLD (MW) Kaya Media has that I decided to launch Marie Claire
some impressive international brands in its Maison as well. Then Esquire was launched in
stable. What are the origins of the company, and 1995, followed by Harper’s BAZAAR in 1996.
how has it grown since its foundation? Last year, I sold my 50 per cent share in the
YOUNG-CHULL KIM (YCK) I founded Kaya Marie Claire joint venture to a local company
Media in 1990, and in 1991 launched its first and I now have three titles, Esquire, Harpers
magazine: a woman’s monthly magazine BAZAAR and Motor Trend.
titled Yoe Sung Choon Choo. It was published
during a time when there were no imported MW You haven’t always been in publishing,
or licensed magazines in the market. Popular have you?
women’s magazines were the gossip weeklies YCK No, between 1981 and 1988 I owned and
Marie
and monthlies. managed a British specialty car company
Claire was
The new title – an up-market lifestyle – The Panther Car Company. It produced cars
impressed
magazine for women – received plenty of for sale in 16 countries. I sold the company to
by Yoe Sung
praise from the critics, as well as from readers, a Korean Auto Maker. I also had a US Armed
Choon Choo’s
for its quality content. However, sales did not Forces contract to provide car rental and an
covers.
reflect the reviews. Perhaps, its new editorial automotive maintenance service to the US Air
concept was too unfamiliar to average Force and Navy in Guam.
magazine buyers? Essentially, I did not care
too much about making a profit because my MW How is the market in Korea developing?
aim was to create a better magazine than YCK A population of 48 million is not helping
those available in the market. to increase readership. On the contrary, the
Our first association with the international readership decreases every year. This is due MW What long-term strategies and goals do
media followed swiftly. In 1992, a to many reasons: the number of book stores you have for Kaya Media?
representative from Marie Claire came to and convenience stores has decreased YCK In Korea, there are no university courses
see me. She said she was looking for a partner and the newsstands on the street don’t sell for magazine executives. Even though
in Korea to publish Marie Claire and asked magazines in Korea. Also, in Korea, major the government claims that there is high
whether I would be interested in discussing magazine publishers do not encourage unemployment in Korea, it is very difficult
the idea. To be honest with you, I had never readers to subscribe to their magazines due to hire reporters, writers, designers and
heard of Marie Claire before. I was struggling to the cost of mailing. advertising executives. We usually fill the
to make a small, local magazine successful Our advertising market has been widened, jobs by poaching from competitors. To solve
and I really did not have the motivation to look but advertising rates haven’t changed over this recruitment problem, I decided to start an
outside of Korea. I should have. At any rate, the past 10 years. Korean advertising rates are education programme to train personnel for
while leafing through the copies of Marie one fifth of those in Japan and one third to a the magazine industry.
Claire that she brought in, it hit me that Yoe quarter of Chinese rates. I found a university willing to run a
Sung Choon Chu was not a magazine like Marie It was forecast early this year that magazine programme for magazine publishing. We have
Claire at all in terms of photography, layout, advertising sales in 2008 were expected to exchanged a letter of understanding and will
features, design, quality of ads and so forth. reach US$546 million. However, at the end of start the programme in March next year. The
I then realised I could learn a lot from Marie the third quarter, the Korean Won depreciated programme will be called Kaya Magazine
Claire. I was tempted to partner them, but by more than 25 per cent. Meanwhile, Academy, and we are responsible for
said I was not interested. I had three major September and October advertising providing lecturers, text books and everything
reasons to decline the offer. First, the Marie sales were little changed over the forecast else. The university will issue a government
Claire brand was totally unknown in Korea. figures. That said, the figures are about eight authorised diploma when students finish the
Second, the title was too difficult for Koreans per cent down on last year. We are worried one-year course.
to pronounce and remember. Thirdly, Korea did about 2009.
not have international advertisers to support MW How has membership of FIPP benefited
a magazine such as Marie Claire.
“If you are lucky enough
your company?
Before leaving my office, the representative YCK FIPP has given us exposure to the
said she came to see me because she was to be in the ‘top five’ international magazine business arena.
impressed by the cover photos of Yoe Sung
club, you won’t get hurt
Choon Choo. One of which had a woman MW Specifically, how has your role on the Board
dressed to go to work while a man was seen
too harshly...”
influenced your company and your perception of
carrying a child. The other cover she liked the global publishing industry?
had a photo of a Catholic nun and a female MW Has business been impacted by the global YCK I am now trying to promote the magazine
Buddhist monk back to back. financial crisis? business first rather than just promoting my
Several months had passed when I heard YCK Yes, it has, but if you are lucky own titles.
that Marie Claire was about to make a deal enough to be in the ‘top five club’ *, you won’t
with one of my competitors. When I heard the get hurt too harshly. Fortunately, Kaya titles MW When you are not working, what are your
news, I called Marie Claire immediately. I told belong to this club. interests and passions?
them that I had changed my mind and that I * advertisers can support the top five titles in YCK I cruise around on my motorbikes – a
wanted to be their partner. Korea, regardless of economic hardship. Ducati and DN-01.
A week later, I flew to Paris and signed the
contract to become their licensee. That was MW What strategies are you employing MW What is your greatest achievement?
late in 1992 and I launched Marie Claire in to preserve your market position? YCK I drove the car I built myself. And I can
March 1993. Marie Claire was so successful YCK Renovation and creativity. read the magazines I publish.
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