Reencle (13)

The majority of the hoses in Korea in 1980 came from Japan. Korean consumers were forced to pay higher costs for the hoses due to the burdensome nature of the market structure. CEO Bang worked to correct the market's bias and hoped that Korean customers would purchase his items at lower costs. After a difficult effort, he was able to localize those goods and begin supplying many notable Korean companies, like LG Electronics. CEO Bang was greatly shocked to learn about the destruction that food waste was causing to the environment worldwide. They were eventually able to introduce their first generation of food recycler Reencle to the market after six arduous years of nonstop R&D work. Reencle saw sales of 3, 000 units in 2019, 6, 000 units in 2020, and over 40, 000 units in 2021 thanks to the fact that many Korean consumers also exhibited a strong interest in environmental conservation. Show Less