Hancom

In 1990, with a vision for digital independence for Korea, Lee Chan-jin founded Hancom. The company's flagship product was Hangul, a word processor created specifically for the Korean language. This move established Hancom as a key player in the nation's software landscape, even becoming the official office software for the Korean government. The company's journey involved a significant public step when it was listed on the KOSDAQ on September 24, 1996. However, the path wasn't smooth. By 1998, a combination of the Asian financial crisis, management issues, and software piracy brought the company to the brink of bankruptcy. It was during this period that Microsoft attempted to acquire the struggling competitor, a move that sparked a national campaign in South Korea, raising over $10 million to save the local software champion. This event solidified Hancom's position as a symbol of national pride and a viable alternative to Microsoft Office in the region. Over the years, Hancom has maintained a competitive market share in South Korea, a rare feat for any company challenging Microsoft's dominance. The company has since expanded its offerings to include spreadsheet and presentation software and has evolved by acquiring other tech firms and shifting toward cloud-based and AI-driven solutions under the leadership of current CEO Kim Yeon-su.