Ten Years On: HPF Korea Marks a Decade of Growth
An interview with Mr. Danny Lee, Managing Director, HPF Minerals Ltd
In 2016, HPF opened a small sales office in Korea, HPF Minerals Ltd (HPFM), marking its first step into Asia. The company took a major step forward in 2021 with the completion of its production plant in Dangjin, and now, as HPFM marks its 10th anniversary, that small beginning has grown into a growth story that draws attention across the group. We sat down with Mr. Danny Lee, Managing Director of HPFM, to talk about the past decade, and the people behind it.
“Honestly, when I look at our revenue numbers, I’m really pleased,” Mr. Lee said, pulling up the figures from 2017. “Back then, revenue was already substantial but by 2025, it had grown to about a 134 percent increase, more than doubling in size. That doesn’t happen on its own. It reflects the trust our customers have placed in us, and the effort of the whole team.”
Beyond the revenue figures, Lee points to 2021, when the Dangjin plant became fully operational, as the most important turning point, one that changed the quality of the business itself. It wasn’t just about how much the company sold, he explains, but about what it sold, how it sold it, and ultimately how it delivered customer satisfaction, all of which shifted significantly once Dangjin came online.
“Building the Dangjin plant was the turning point that changed everything for us. As of 2025, about 80 percent of what we sell is produced right here in Dangjin. Having a production plant on the ground also meant we could build out the customer-service functions around it, a quality lab, a logistics system that allows for fast delivery, and much more stable inventory management compared to relying on imports. All of that has contributed enormously to HPFM’s standing as a mineral products supplier here in Korea.”
To keep that momentum going, Lee says the company made another deliberate choice.
“To keep growing, we knew we needed to invest more deliberately in how we’re seen in the market. That’s why, starting in 2024, we brought on a dedicated local Marketing Manager for the first time. Since then, we’ve been running both our online and offline marketing properly and with a real plan behind it. Rather than simply reacting to what customers ask for, we’re proactively developing new demand through a variety of customer touchpoints, what we call being ‘Connected.’ Under the broader goal of strengthening HPFM’s brand equity, we’re running a range of online and offline marketing programs, and I believe this will be one of the key drivers behind the company’s continued growth.”
There’s one market in particular that Lee can’t hide his excitement about these days: China.
“China has become one of our fastest-growing markets, and our approach there has changed a lot recently. Alongside the one distributor we already had, we’ve added two new distributors, each specialized in a particular field. On top of that, our direct customer business, led by a proven sales leader, has also been growing very quickly. And of course, support from headquarters has been a huge help too. Put all of that together, and our expectations for the China market just keep growing.”
Asking Mr. Lee what’s made all of this possible, and the answer isn’t a number at all.
“Looking back over ten years, two things really stand out to me. The first is how proactive our people are. Our sales team at HPFM works hard within a well-defined business process, and in particular, they’ve defined new market segments to develop them in a planned, proactive way to drive growth. The second is the spirit of collaboration. HPF Minerals, the Dangjin plant, and headquarters genuinely trust each other and work together. Our business processes have improved a lot, but that’s not the whole story, people matter just as much. The way departments communicate with each other has changed completely since the early years. That kind of trust takes time to build, and I believe this mutual collaboration is the real foundation for whatever comes next.”
Ten years in, Mr. Lee shows no sign of slowing down. “We’ve built something solid here,” he said. “Now it’s about building on it.”
[Interview by Annie Kwon, Marketing Manager, HPFM]
