"I believed that producing eels of outstanding quality — even if it meant charging a little more — would ultimately be the greatest competitive advantage."
Lee Ju-hyung, CEO of Samjeong Susaneo, runs an eco-friendly eel aquaculture farm in Miryang, South Gyeongsang Province, competing on a differentiation strategy that puts quality ahead of output.
Born in 1990, Lee left his job in Seoul after the COVID-19 pandemic and returned to his hometown of Miryang. Six years on, he has built a vertically integrated model spanning production, retail and the restaurant business, drawing attention as a success story in regional youth entrepreneurship.
His venture began at his father's suggestion. He first secured a site for the farm, then brought in specialist technicians and spent years mastering eel aquaculture before laying a solid foundation. Drawn to the growth potential of the food industry and the high value of eel, he completed thorough preparations before launching the business in earnest.
Samjeong Susaneo operates an eel farm spanning about 5,000 square meters and applies a rearing system that sets it apart from conventional farms. The company has systematized every stage — water quality management, stocking density and feed management — with a focus on improving eel quality and safety. While most farms raise eels at high density in narrow circular tanks, Samjeong Susaneo uses spacious concrete tanks that give the eels ample room to move.
Lee said this approach reduces stress and lowers the incidence of disease, while also improving the texture and taste of the meat. Maintaining a natural microbial environment helps water quality, he added, and eels with greater freedom of movement develop firmer flesh. Some clients now source exclusively from Samjeong Susaneo, citing the difference in quality.
'I want to build a success model for young entrepreneurs outside the capital'
Lee said he has recently overhauled his distribution structure and is pursuing a new sales strategy. Moving away from a wholesale-centered model, he is expanding direct-to-consumer channels through a company-run restaurant, online sales and department store pop-up shops. The shift is designed to reduce dependence on the volatile wholesale market and build stable brand value.
Samjeong Susaneo has also obtained eco-friendly and antibiotic-free certifications. Lee said Miryang's excellent water quality allows the farm to minimize antibiotic use while consistently producing healthy eels — and that this is the company's single greatest competitive edge.
The company also gives back to the local community. Lee regularly visits senior centers in the area to grill and serve eel to residents, sharing the fruits of the business with those around him.
With freshwater eel farms relatively scarce in South Gyeongsang Province, Lee said he is determined to grow Samjeong Susaneo into the region's defining brand.
On youth entrepreneurship, he said he wants to show that success is possible outside major cities. He also expressed a desire to play a small part in creating an environment where young people in Miryang — a city grappling with a declining population — can pursue their ambitions with confidence.
"My goal is to complete a sixth-industry model that connects everything from production and processing to retail and dining, and in the long run to take Miryang eel global and build it into a world-class brand," Lee said. "I want to grow into a company that proves young people can succeed outside Seoul."
However, Lee said policy support for the fisheries sector still lags far behind what is available to agriculture. He called for a meaningful expansion of support systems and programs for young fishery entrepreneurs, saying the current options are too limited to adequately back new ventures and ongoing operations.
7toy7@heraldcorp.com
