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Winia Electronics controls almost half of Mexico's microwave market Winia Electronics Co., a medium-sized South Korean consumer electronics company, is the top microwave brand in Mexico. It is a little-known fact that the company derives 80% of its sales from overseas markets.Park Hyun-chul, who took the helm of Winia Electronics as CEO early this month, has chosen Mexico and the US as the first destinations of his first overseas business trip as CEO scheduled for later this month, according to the company on Monday.In particular, Park will spend most of his time during the business trip in Mexico, where it has retained its top position in the microwave market for an eighth straight year with a market share of 49% in 2021.“In Mexico, Winia Electronics is more well-known than Samsung Electronics and LG Electronics,” said Park. “We will grow our company with a focus on overseas markets.”Its microwaves, called Chef Mexicana, are tailored for Mexican households, enabling users to cook and heat traditional Mexican food such as tortillas and picadillos.Winia Electronics was formerly known as Dongbu Daewoo Electronics, which was bought by Daeyu Winia Group in 2018. The acquisition included Dongbu Daewoo’s overseas plants in Mexico and China. Winia's advertisement at Cancun Airport in Mexico (Courtesy of Winia Electronics)
This year, Winia is sharpening its marketing efforts in Mexico, running airport advertising in the country's international airports, including Cancun, Monterrey and Guadalajara, alongside luggage cart advertising.Also, it has been setting up outdoor advertising boards in eight big cities in the North American country, including Mexico City, Monterrey and Querétaro. Winia operates a plant in Querétaro in central Mexico.CEO Park puts a focus on growing Winia into a consumer electronics company with diverse products.
Park Hyun-chul was named Winia Electronics' CEO in early May 2022A graduate of Cornell University, Park holds a master’s from Yale University Business School and a Juris Doctor degree from the University of Washington. After passing the New York bar examination, Park worked at law firms Jones Day and Russell Baker, specializing in M&A deals and corporate restructuring of beleaguered companies.By Ji-Eun Jeongjeong@hankyung.comYeonhee Kim edited this article.