Interview CG Lab Chairman Shin Wang-su: "I Will Serve My Region as a Businessman"

[Suwon Ilbo=Reporter Eom In-yong] The Gyeonggi Residents Association (Chairman Yoo Yong-tae) recently held the '40th Regular General Meeting and New Year's Reception' at The White Veil in Seocho-dong, Seoul, with attendance from Gyeonggi Residents Association Chairman Yoo Yong-tae, former Chairman Lee Jae-chang, Gyeonggi Province Governor Kim Dong-yeon, former Governors Sohn Hak-kyu and Kim Moon-soo, association executives and members, approximately 200 people in total.

At the regular general meeting that day, two agenda items were deliberated and approved: the 2025 operational results and settlement (draft) and the 2026 operational plan and budget (draft). Governor's commendations were awarded to 30 individuals, including CG Lab Chairman Shin Wang-su, who have made significant contributions to local community development.

Gyeonggi Province Governor Kim Dong-yeon conveyed through congratulatory remarks, "I express gratitude to Gyeonggi Residents Association Chairman Yoo Yong-tae and related executives and guests for your efforts toward the harmony of 14 million Gyeonggi residents and regional development."

We met with CG Lab Chairman Shin Wang-su, who received the Gyeonggi Province Governor's commendation in recognition of his decades-long contributions to Gyeonggi province development and regional advancement.

The following is a Q&A; session.

- I understand you have been contributing to scholarship fund raising for the Gyeonggi Residents Scholarship Foundation?

"I have been supporting the Gyeonggi Residents Scholarship Foundation with 5 million won as scholarship funds and 1.2 million won annually (100,000 won per month) for over 10 years. I was born in my hometown of Yangpyeong and have memories of difficult school years, so I am helping excellent students residing in Gyeonggi Province. I am also supporting the operation of the Gyeonggi Future Hall, a dormitory for Gyeonggi resident college students operated in Dobong-gu, Seoul."

- I understand you have been providing scholarships within Yangpyeong County for about 30 years?

"I also deposit scholarships with the Yangpyeong County Education Development Committee. Every year, I support the Yangpyeong County Happy Sharing Fund and donations and health functional food to the Yangpyeong County Comprehensive Social Welfare Center under the Korea Community Chest of Korea as a way to enhance the value of social enterprises."

- What is CG Lab, which has grown into a global enterprise?

"Although we are a small to medium-sized enterprise, we export nearly 10 million dollars in Korean ginseng products annually to more than 40 countries worldwide. We received export towers twice, from President Roh Moo-hyun in 2004 on Trade Day and from President Park Geun-hye in 2014. Additionally, we have received the Ministry of Agriculture, Food and Rural Affairs Minister's Agricultural Product Export Tower twice, Gyeonggi Province Governor's Export Tower twice, the Ministry of Trade, Industry and Energy Minister's Export Achievement Commendation, the Ministry of Agriculture, Food and Rural Affairs Minister's Export Achievement Commendation three times, and the Prime Minister's Award at our domestic product exhibition and judging competition. We have established ourselves as a representative company in Korea's ginseng sector. In the Korean ginseng product industry, we have achieved rapid growth as the second-largest exporting company after Cheong Kwan Jang, and by 2025, we have accumulated total exports of USD 55 million (approximately 70 billion won in Korean currency)."

- You must have faced many challenges while growing your business single-handedly in the barren region of Yangpyeong?

"There were many hardships and pain, and there were also despair and disappointment, but I overcame and recovered through faith and prayer, and I am just grateful that I am alive and breathing today. Like these days, with political turmoil making the economy dire and war, all global buyers are experiencing hardship as well. Although exports have decreased significantly, we have additionally invested approximately 3 to 4 billion won in soft capsule lines, hard capsule lines, tablet production lines, liquid stick lines, powder stick lines, ointment lines, glass vial automatic production lines, PP bottle automatic lines, jelly stick automatic lines, and pouch pack lines, evolving into a specialized research, development, production, and export company for health functional foods, and we are also activating OEM and ODM sectors. Despite difficult times, we are fortunately showing surprising growth of 30 to 40 percent, and employment has actually increased significantly."

- You served as chairman of the Yangpyeong County Business Association for an extended period?

"Based on my experience as chairman of the Yangpyeong County Business Association, I am currently promoting the establishment of the Yangpyeong Export Business Association. Additionally, I am serving as vice-president of the Yangpyeong Cultural Center and am accelerating efforts to discover, research, and inherit Yangpyeong County's history, culture, and traditions in cooperation with Cultural Center Director Choi Young-sik. After signing business agreements with nearby Hongcheon Cultural Center, the Mongolia Ulaanbaatar Cultural Promotion Center, and the Gyeonggi Provincial Office of Education Student Education Center, we are actively conducting various exchanges."

- What are your plans ahead?

"In early October, Yangpyeong County and the Yangpyeong Cultural Center will host the 'Regional Culture Expo,' the first nationwide county-level event organized by the Korea Cultural Centers Association and sponsored by the Culture, Tourism and Sports Ministry, which brings together 232 cultural centers from all cities, counties, and districts nationwide. Additionally, the Yangpyeong Cultural Center was founded in 1983 and this year marks its 43rd anniversary. We are currently preparing the publication of the Yangpyeong Cultural Center's 40-year history and an autobiography, which we have been working on for the fourth year. Furthermore, I believe that viewing 'the blessing of labor' as the greatest grace, with 30 years of learning, 30 years of working, and 30 years of service, is a modern person's lifetime, and I am thinking about how I can live serving as a businessman in the region."