Nam Min-woo, chairman of Dasan Group and a first-generation venture entrepreneur in Korea, has published a translated edition of the Dhammapada, one of Buddhism's most representative scriptures that compiles Buddha's teachings in poetic form.
"I discovered common ground in the Dhammapada when I encountered it by chance, studied it over many years, and wanted to share it with those around me, so I organized it into a book," Nam said in an interview with Seoul Economic Daily at the company's headquarters in Seongnam, Gyeonggi Province, on the 23rd. "I hope readers will see this as the work of someone who has experienced all the ups and downs while running a business for over 30 years, with my own interpretations added."
The Dhammapada, often described as "the most common yet difficult scripture," consists of 26 chapters with 16 to 17 verses each, totaling 423 verses. Nam translated directly from the Pali original and English translations rather than existing Korean versions, producing a 332-page book complete with background explanations.
Though he identifies as an atheist rather than a Buddhist, Nam shared the lessons he gained from the scripture as an entrepreneur. "Just as in golf where you hit better when you relax your body, in business management, being too fixated on goals can lead to poor results," he said. "That is precisely the life philosophy commonly conveyed in Eastern classics—responding flexibly without being swayed by constantly changing business environments, like water flowing."
Nam cited "tham-jin-chi" (貪瞋癡) as the most essential concept in the Dhammapada. This Buddhist term refers to greed, anger, and ignorance—the three poisons that cause human suffering. "It means living with an attitude of trying not to get irritated or angry as much as possible," he said. "I believe that by doing so, each person can reach their own state of nirvana." He added that after practicing this consistently for several years, his emotional fluctuations disappeared and his mind became calm like a tranquil lake.
Nam built Dasan Group from Dasan Networks, a network equipment developer he founded in 1993. The group has grown into a mid-sized enterprise with 17 affiliates, 2,000 employees, and annual revenue of 800 billion won.
The journey was far from smooth. He weathered numerous crises including the 1997 IMF financial crisis, the dot-com bubble burst, the global financial crisis, and IT industry downturns that led to the bankruptcy of overseas affiliates he had built over a decade. Eastern classics provided strength during those times, and Nam recommends reading the Tao Te Ching alongside the Dhammapada. He published a translation of the Tao Te Ching in 2019 and included it as an appendix in his autobiography commemorating Dasan Group's 30th anniversary in 2023.
"Through the teachings of the sages, I came to realize anew that maximizing sales and profits should not be the goal of management," Nam emphasized. "That is why I usually encourage fellow business leaders to cultivate their minds."
Despite the current industry downturn, Dasan Group is turning crisis into opportunity by diversifying beyond its core business into manufacturing sectors including plant engineering and automotive parts. The company is also pursuing an IPO for its subsidiary DTS next year.
"I will continue the entrepreneurial spirit of constantly challenging and innovating," Nam said. "Rather than being remembered for expanding the company's size, I want to be remembered as a venture entrepreneur who constantly discovered new businesses and took on challenges."
Nam, who is also the founder of the Korea Youth Entrepreneurship Foundation, plans to publish a book for young entrepreneurs titled "Just Shut Up and Start a Business" early next year. A long-time advocate of the belief that "entrepreneurship is a great creator of jobs," he advised young people to pursue entrepreneurship more actively during difficult times.
"If you dream of turning your life around, you must take on the challenge of entrepreneurship," he said. "Success is not guaranteed, but the experience of starting a business will change the way you see the world. Without challenge, there is no success."
