BY MATT SHORTALL
Founded by Korean-born Kyu Park in 1974, Shine Electronics Co., Inc., in Long Island City is considered one of the leaders in reverse logistics for wireless and cell phone products. Throughout much of the company’s history, Shine has worked primarily on servicing and repairing electronic equipment for multinational companies like LG Corporation, Motorola, Samsung and Sprint.
In 2014, Shine management made a strategic decision to alter the direction of their company. Today, Shine purchases thousands of mobile phones each week and distributes them exclusively in international markets where there is a high demand for mobile devices.
Shine Electronics and CEO Elliot Park, Kyu’s son, have been honored more than once with business awards. In 2015, the Minority Business Development Agency (MBDA) bestowed Shine with the Minority Export Firm of the Year award. “The organization [MBDA] has assisted Shine Electronics in introducing us to different countries for the export of our products.”
That same year, Elliot Park received the Outstanding Asian Americans in Business Award from the Asian American Business Development Center (AABDC).
“It makes me proud to be a minority entrepreneur,” said Park. “As a second-generation entrepreneur, I witnessed firsthand the effort and dedication my parents exerted into running a business while facing disadvantages by both language and cultural barriers. As a result, I thoroughly enjoy working with other minority-owned businesses, and helping each other build companies that will succeed and cultivate the next generation of minority business owners.” Park credits most of his success to his father, his boss and mentor who guided him for over 15 years before he took over as CEO himself.
In 2015, Shine Electronics was among the members of a large U.S. commercial delegation that visited the Philippines for the Asia Pacific Economic Cooperation (APEC) CEO Summit. The delegation brought together many small to medium-size enterprises that are export-ready or currently exporting to APEC economies, as well as trade organizations with export-ready members and other federal government officials.
Today Park continues to lead a multifaceted company that combines extensive industry experience with a sense of moral responsibility. Shine’s mission statement demonstrates adherence to the same principles of recycling, reusing and conserving resources no matter the country in which it is doing business.
When asked what advice he would give to young entrepreneurs, Park said, “Be patient, consistent, communicative, honest and never give up!”