BrewDog launches first bar in Asia with Seoul BrewPub debut
Scottish craft brewer BrewDog has debuted its first flagship bar in Asia, in a bid to tap into the continent’s vibrant beer scene.
The brewery has chosen Seoul, South Korea, as the location of its next bar as it continues its global expansion.
Located in the neighbourhood of Itaewon, the beer maker says said that the area is ‘famed for its cosmopolitan nightlife and world-class bars and restaurants’.
- Diageo opens $90mn Guinness brewery in Maryland, USA
- Heineken strikes a $3.1bn deal with China's largest brewer
- Molson Coors to develop cannabis-infused drinks in Canada
BrewDog’s co-founder, James Watt, said that the company has seen “a huge explosion in the global craft beer scene”, describing how South Korea has established itself as the “craft beer hub of Asia.”
He added: “Seoul has been at the heart of this explosion, and we’ve had our eye on this burgeoning craft beer scene for a while now, waiting for the perfect site to set up a BrewDog home.”
“A city that champions the excitement, zeal and innovation of craft beer deserves more hubs in which to indulge and celebrate truly great beer.”
"We couldn’t be happier to finally provide an outpost for unapologetically awesome beer in Asia and look forward to spreading the craft beer revolution to more people across the continent.”
The new bar will also be BrewDog’s second BrewPub site, after the brewery launched its first in London’s Tower Hill in May.
Containing a 10-hector litre brew kit, the South Korean bar will be the first site outside of the UK and USA to officially brew BrewDog beers.
Over the past 10 years, BrewDog has exported to over 60 countries globally thanks to its crowdfunding initiative, Equity for Punks, which has seen the brewery raise over £60mn ($77.4mn) since 2009.
So far this year, BrewDog has owned six new bars in the UK, its fifth bar in Sweden, and two new bars in Columbus, Ohio, where the brewery has its US headquarters.
A third brewing site in Brisbane, Australia, was also announced, adding to the Scottish brewer’s facilities in the USA and UK.
Seo JungJin: Who is EY’s World Entrepreneur of 2021?
Seo JungJin, founder of biopharma firm Celltrion, which most recently developed an antibody treatment for COVID-19, has been named the EY World Entrepreneur of the Year 2021, becoming the first South Korean in the award’s 21-year history.
Regarded as one of the world’s most prestigious business awards program for entrepreneurs, the EY Entrepreneur of the Year celebrates visionary and innovative leaders from across 60 countries who are transforming the world and fostering growth.
JungJin, who is now honoroary chairman of Celltrion Group, was up against a worthy cast of entrepreneurial competitors, taking the crown from among 45 award winners across 38 countries and territories.
Speaking during the virtual event, JungJin described his own interpretation of entrepreneurship as something that brings together “a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good”.
Why was JungJin crowned King Entrepreneur?
A South Korean native and now 63 years of age, JungJin founded biopharmaceutical firm Celltrion in 2003. In the nearly two decades since its founding, Celltrion has lived up to its goal of advancing health and welfare for all by developing ground-breaking drugs to treat autoimmune disease, various forms of cancer and, most recently, COVID-19.
The company, which JungJin started with just US$45,000 and five of his colleagues, has since growth to more than 2,1000 employees with sales permits in more than 90 countries and revenues exceeding US$1.69bn.
According to the panel, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world with the pandel moved by both his incredible story and his purpose-driven leadership, innovative mindset and entrepreneurial spirit.
Described by the chair of the EY judging panel Rosaleen Blair as “representing everything an unstoppable should be” from taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin’s story is one of incredible tenacity and perseverance that the judging panel felt most represented the entrepreneurial spirit.
“He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies,” says Stasia Mitchell, EY Global Entrepreneurship Leader. “His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment.”
How did JungJin get there?
JungJin's entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. before losing his job amid the carmaker’s financial troubles following the 1997 Asian economic crisis.
Following this, JungJin started collaborating with colleagues to explore business opportunities in different industries, though none delivered lasting success. The turning point came after he attended a talk hosted by renowned scholars, which inspired him to focus on the biopharmaceutical sector.
And so he founded Celltrion with just US$45,000 of his savings. The launch of Remsima, credited with being the world's first antibody biosimilar, quickly moved Celltrion up the ranks of the country's fairly underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that today are being used worldwide.
With ambitions to be the world’s first in different areas, Celltrion has pioneered numerous uncharted areas to great success over the past two decades, most recently responding to the global pandemic by successfully developing an antibody treatment for COVID-19 and working to ensure a timely supply of the safe and effective treatment.
“When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives,” explains JungJin. “The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive.”