[2018-1 Global CEO Lecture] “Look Ahead into the Future, Be Prepared” … Kenneth Kyung-Soo Park, CEO of PSK Inc.
[2018-1 Global CEO Lecture] “Look Ahead into the Future, Be Prepared” … Kenneth Kyung-Soo Park, CEO of PSK Inc. On 24th of May, the Business School invited Mr. Kenneth Kyung-Soo Park, CEO of PSK at SUPEX Hall, LG-POSCO Building for the ‘Global CEO Lecture’ Series. He was the 11th guest lecturer invited for the lecture series, where he focused on ‘The 4th Industrial Revolution and Platform Business’. Mr. Park is one of our proud alumni (Business ‘71) who established PSK Inc. in 1990. He is one of the most successful CEO in the world, the semiconductor company now achieved exceptional annual sales of 270 billion. How this liberal arts student started his career in semiconductor industry was his first job at the large company. He was in charge of a project in cooperation with semiconductor raw material suppliers in the U.S. Mr. Park added “I was lucky to be able to work with semiconductor business. I thought one day the industry will grow to one of the major industry in the near future. Since I worked with people in the industry, and I received a lot of support when I started my business.” With a collaboration of a semiconductor equipment company, PSC in Japan, he established his company PSK. His initial goal was to adapt semiconductor equipment to the Korean market. What the company’s R&D department focused on was ‘dry strip’. Dry strip is also referred to as ‘asher’ equipment, which disposes of residue in the production process of semiconductor. Mr. Park explained, “Initially we had difficulties but now the company has grown to the largest company in the world market. It is a very remarkable achievement given that the company is the 2nd generation company in the industry.” Mr. Kenneth Park then discussed the changes in the 4th Industrial Revolution. There will be more emphasis on AI, IT, Big Data in the new area. “A great example would be ‘Rap of China’, the Chinese TV show recently used AI in the committee selection process. You can see the fact that AI now substitutes decision-making process without human engagement.” He predicts that each and every products and service will be connected in a network, as in IoT. And to achieve that, further innovation of semiconductor technology is crucial. He also pointed out the importance of platform. The platform he was referring to is a group of people sharing same language and rules. “One of the great examples of the platform can be Amazon.com in the U.S. Initially it was a book sales company, but now they developed a unique platform of selling a range of products including electrical appliances, daily supplies, electric books.” PSK Inc. is working on platform business as well. Mr. Park explained “we developed SBMS, data management system which I expect would be a foundation for a single platform in the data technology society. The platform makes it possible to maintain the quality product, to boost customer loyalty.” In conclusion of his lecture, Mr. Park advised the audience to prepare for the rapid change. “The semiconductor industry has now grown to a huge volume of 40 billion dollars. Nevertheless, PSK Inc. takes only 1% of the market, 4 billion dollars. That’s because South Korea fails to demonstrate the strength in basic science. South Korea failed to take the lead in the semiconductor industry.” He concluded, “it is therefore necessary to look ahead into the future, and be prepared for the big change.” With positive reviews so far, the Business School is expecting the final lecture of ‘Global CEO Lecture series’ by △ Young-Sik Kim, President of PwC Korea (5/31).
Spring 2018 KUBS Scholarship Awards Ceremony…A Total of 39 KUBS Scholarships to 195 Students
Spring 2018 KUBS Scholarship Awards Ceremony …A Total of 39 KUBS Scholarships to 195 Students On May 17th, the Business School had the Spring 2018 Scholarship Awards ceremony at Ahn Young Il Hall, LG-POSCO Building. Scholarship donors, and holders of a total of 140 KUBS students participated in the ceremony. The participant list of scholarship donors was as follows: Moon-Yong Lee, CEO of Musical House GoMaWo Korea; Yeong Yul Seo, CEO of PT. Pratama Abadi; Kwang-Soo Seo, Committee for Chung Pyung Hwa Fashion Mall; Ja-Hyeong Koo, Chief Vice President of KUBS Alumni Association; Jin-Hyung Jang, Geun Chang Kim Scholarship Foundation; Seung-Yeol Yang, Vice President of KPMG Korea; Yi-Hyun Jeon, President of KUBS MBA Alumni Association; Young-Won Yoon, Vice President of Deloitte Korea; Young-Ki Kim, Director of HR Department at Hyundai Motor Group; Jong-Kyoon Yoo, Managing Director of KCC Corporation. After a brief introduction of the guests, Dean Soo Young Kwon commenced the Ceremony by welcoming remark. Dean Kwon said “this ceremony is to thank our guests who pay great and warm attention to junior students at KUBS. Thank you all for participate in the event on such harsh weather.” Then the ceremony was followed by the awards of scholarships to the holders. A total of 39 types of scholarships were granted to KUBS students this semester, including △KUBS Dream Scholarship (68 holders) △Future Scholarship (32) △Freshmen Scholarship (16) △Soam Scholarship (12) △Namchon Scholarship (10) △Yangyeong Foundation Scholarship (8) △Kowon Simwoo Foundation Scholarship (7) △Geun Chang Kim Foundation Scholarship (7) △Geum Cheon Scholarship (4). Scholarship holders were a total of 195 students inclusive of duplicated grants. (From left) Moon-Yong Lee, CEO of Musical House GoMaWo Korea; Kwang-Soo Seo, Committee for Chung Pyung Hwa Fashion Mall The scholarship donors and holders then had a banquet, with a chance to talk to each other. After the banquet, the donors made remarks followed by a holder’s thank-you speech. On his remark, Moon-Yong Lee, CEO of Musical House GoMaWo Korea said “I have been making scholarship contributions when I turned 66, in 1998. I hope all students here today will be someone influential in the society, and develop yourself as a good example to the future generation.” Kwang-Soo Seo, Committee for Chung Pyung Hwa Fashion Mall, advised the students that “when thinking of your future, there is no right answer. However, you still need to set a goal and work on your plans to be able to take advantage of the unique opportunity. It is very important to set a goal to be the best in your area; I think it is a great part of happiness.” One of the scholarship holders, Sung-Jin Park (Business ’11) thanked the guests “this scholarship means a lot to me. It really is more than just the tuition fee. I deeply appreciate your thoughtful contributions, and I promise I will make the best use of it for my study.” The ceremony closed with a photo shoot afterward. Scholarship holder, Sung-Jin Park (Business ’11) on his thank-you speech This semester, Korea University Business School provided scholarships of a total of 451 million won contributed by 39 sources. The rate of scholarship beneficiary was 64.3% for enrolled students.
[2018-1 Global CEO Lecture] “Always Be Prepared for the Worst Case Scenario”…Yeong Yul Seo, CEO of PT.Pratama Abadi Industri
[2018-1 Global CEO Lecture] Yeong Yul Seo, CEO of PT.Pratama Abadi Industri “Always Be Prepared for the Worst Case Scenario” On May 17th, KUBS invited Mr. Yeong Yul Seo, CEO of PT.Pratama Abadi Industri for the special lecture series by Global CEO. The topic of his lecture was ‘The Rule of Opportunity: Opportunity comes to those who devote themselves to something they want’. Mr. Seo is one of our proud alumni (Business ‘69) who is currently the CEO of PT.Pratama Abadi Industri (PT.Pratama). He is a successful CEO who established PT.Pratama in 1989 in Indonesia, the Nike OEM manufacturing business has grown to a big corporation. He was the winner of 2017 KU Alumni of the Year, and he also made a contribution of 300 million won to the Business School. (▶ See Article) Mr. Yeong Yul Seo started his undergraduate study in 1969, and yet his had to defer his study until later because at first, he wanted to re-take the university entrance exam to go to Seoul National University. “However, I had had comments advised me to take an exam to be a tax officer. On the first attempt I passed the exam, and so I started my career as a tax officer.” Unlike what he planned, looking at friends passed the Civil Service Entrance Examination, he changed his mind to quit his job and started tertiary education 4 years later. “Like every university student, I also studied for CPA exam during my undergraduate years. But I ended up applying for a job at offices because I did not pass the exams.” Nevertheless, getting a job was not easy for him. Due to the age restriction applied to job applicants, he was not even able to pass the document screening. Daesung Timber Company contacted him one day because his tax officer experience caught their attention. “I came to work on Sundays. I never took breaks. Not that I had overloads of work to do, but I went to the office anyway.” One day he saw a job opening at Saudi Arabia branch of Lucky E&C (now GS E&C) on the newspaper. He decided to apply for it given its 2.5 times higher salary. Since then Mr. Seo worked for few other offices abroad. While he built his professional career, he met a person from footwear industry which led him to start footwear OEC manufacturing business ‘PT.Pratama Abadi Industri’ in Indonesia. “Inspired by Samsung’s ‘Samsung First Policy’, I named the company ‘pratama’ which is ‘the best’ in Indonesian,” he added. However, he failed to be appointed as the CEO. His effort only reached the establishment phase of the business. “Back then the company took advantage of me. So I rather focused on my other jobs.” 5 years later, PT. Pratama went bankrupt, and this time the company asked for his help. “What they needed was 5 million dollars. I applied for a loan at Indonesian bank, and they accepted my application. Although the bank did not give credit to the company, I was able to prevent bankruptcy based on my credibility.” As a consequence, he was appointed as CEO of PT. Pratama. Since his appointment, the business achieved an exceptional success. For three years in a row, PT. Pratama was evaluated as the top factory out of 48 other Nike distributions in the world. It has grown to a big corporation, with its outstanding annual sales of 380 million dollars, and 30,000 local employees. As a conclusion of his lecture, Mr. Seo advised the audience to ‘keep in mind what is important’. He explained, “Looking back, my late start of tertiary education, financial difficulties, and all other issues running my business, I believe I was able to overcome all those years because I kept reminding myself what is important.” “By that I mean, it is important to keep in mind and set a goal to be the best in your area.” Mr. Seo also pointed out the importance of setting out a negative mindset, “because you will be able to prepare and prevent the worst case scenario.” With positive reviews so far, the Business School is expecting the last two lectures of ‘Global CEO Lecture series’ by △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
Donation to Scholarships of 300 Million Won by Yeong Yul Seo, CEO of PT.Pratama Abadi Industri
Donation to Scholarships of 300 Million Won by Yeong Yul Seo, CEO of PT.Pratama Abadi Industri On 17th of May at the Dean’s Office, the Business School received a contribution of 300 million won by Yeong Yul Seo. Mr. Seo is one of our proud alumni (Business ‘69) who is currently the CEO of PT.Pratama Abadi Industri (PT.Pratama). (From left) KU Vice President for Planning and Budget Jae Wook Kim, KUBS Dean Soo Young Kwon, KUBS Alumni Yeong Yul Seo, KU President Jaeho Yeom, Vice President for Development and External Affairs Byung Hyun Yoo (Picture by Communications Team) A ceremony for the donation was held at Korea University Main Hall where KU President Jaeho Yeom, KUBS Dean Soo Young Kwon, KU Vice President for Planning and Budget Jae Wook Kim, Vice President for Development and External Affairs Byung Hyun Yoo participated to appreciate the contribution. Mr. Seo commented, “this contribution is to celebrate the 30th anniversary of the start of my business. After today’s donation of 100 million won, I plan to make additional contributions of 200 million won to support my junior students, to broaden the eligibility of scholarships." After the ceremony for donation, Mr. Seo also gave a special lecture for KUBS students. As a part of the School’s <Global CEO Lecture Series>, he discussed ‘The Rule of Opportunity: Opportunity comes to those who devote themselves to something they want’. In his lecture, Mr. Seo advised the audience that “looking back, my late start of tertiary education, financial difficulties, and all other issues running my business, I believe I was able to overcome all those years because I kept reminding myself what is important.” He also pointed out the importance of setting out a negative mindset, “because you will be able to prepare and prevent the worst case scenario.” ( ▶See Article) The establishment of PT.Pratama Abadi Industri goes back to 1989 in Indonesia. After starting his career in Indonesia since 1982, his business achieved an exceptional success. The company has grown to a big corporation, with its outstanding annual sales of 380 million dollars, 30,000 local employees as well as 90 Korean supervisors. This Nike OEM manufacturing business made the remarkable achievement within 28 years since the establishment. His business has been contributing a large part of Indonesia's economic development by creating jobs and the acquisition of foreign currencies. At the same time, it takes a large proportion of Korea’s export, achieving an annual total of 30 million dollars of material sourcing from South Korea. Since 1995, KUBS has sent a total of 30 students to PT. Pratama for an overseas internship experience.
[Startup Lecture Series] “Work on Something Others Would Not Want to Do” Soo-Young Yoon, CEO of TREVARI
[Startup Lecture Series] “Work on Something Others Would Not Want to Do” Soo-Young Yoon, CEO of TREVARI KUBS Startup Station held its 3rd special lecture for ‘Spring 2018 Startup Lecture Series’ on May 15th. The guest lecturer was Soo-Young Yoon, CEO of TREVARI. In his lecture, Mr. Yoon discussed ‘How to Start Up a Business’. Mr. Yoon started his lecture by sharing the story of his business startup. After quitting his job at Daum Kakao, he had this business idea from the book club he was attending to. He came up with an idea that ‘why can’t a book club be a business when it is such a fun activity?’. He thought perhaps it is because it would not be as fun as the book club if operated as a business. Mr. Yoon explained, “So I thought how it works is that basically, a person who gets to have fun spend money, whereas a person who is not having fun gets to make money.” “I suggest you start from a business idea that is not fun but necessary for others at the same time because that’s what makes your business profitable.” Mr. Yoon emphasized the importance of a mentor to avoid mistakes. He said, “Big difference is often caused by a tiny mistake.” “If your concern is a clear yes and no question, ask someone with experience. You need to take time for thinking only when you don’t know if there is a clear answer.” He added, “it will be time and cost efficient if you gain guidance and insights from someone with experience”. He concluded his lecture with an additional advice to the audience. He left Daum Kakao when he was 27. He decided to work on his business for 1 or 2 years, thinking that he would be able to look for a job again even if his business won’t work. He advised that “you need to always have a plan B. I know you might want to focus on your plan A, but it is necessary to bring yourself down to earth.” Each semester, KUBS Startup Institute holds practice-based lecture series ‘Lecture on Demand’ about startups and business venture. Anyone interested in the KUBS startup business teams and any KUBS students are welcome to participate in the lectures. For further inquiries, please contact KUBS Startup Institute at 02-3290-2551.
2018-1 Student-Alumni Mentoring Day…“Gain Valuable Insights from Alumni Mentors”
2018-1 Student-Alumni Mentoring Day “Gain Valuable Insights from Alumni Mentors” On 16th, KUBS had the Spring 2018 Student-Alumni Mentoring Day event at Ahn Young Il Hall, LG-POSCO Building. As well as Dean Soo Young Kwon and Associate Dean Jaehwan Kim, 119 enrolled students and 30 alumni mentors participated in the event. The participated mentors are from diverse professional areas including △public enterprise/institution △accountant △entrepreneur △Civil Service Entrance Examination △law school etc. Commenced in 2007, the Student-Alumni Mentoring program facilitates professional connections between KUBS students and alumni. The program pairs up a mentor with 4 to 6 current students, or the match can be paired as groups depending on students’ area of interest. The mentoring program also holds seminars by professional areas twice a year. Dean Soo Young Kwon commented, “this year we invited recent graduates to the program, so that mentee students would be informed of the most current updates. I hope all of you have a great time, thank you all for your participation.” One of the alumni, Hyun Kim (Business ‘11), who is a member of start-up business ‘My Real Trip’ said “I got quite a lot of questions about start-up business today. I hope my answer was helpful to mentees.” One of the mentee student Shin-Hee Kim (Business ‘16) added, “it was a valuable event to gain professional guidance and insights from alumni mentors.” KUBS Career Hub holds Student-Alumni Mentoring Program to encourage professional networks of both students and alumni. Each pair lasts for a year, but these relationships often continue long after the program ends. Enrolled students are eligible to participate in the program through an online application at KUBS Career Hub website.
Spring 2018 KUBS Fire Emergency & Evacuation Training
Spring 2018 KUBS Fire Emergency & Evacuation Training On May 15th, the Business School had Spring 2018 KUBS Fire Emergency & Evacuation Training at the three buildings of the School: KUBS Main Building, LG-POSCO Building, and Hyundai Motor Hall. This test of evacuation plan asked participants to follow the instruction as in a real emergency. ‘Fog Machine’ was used to maximize the reality of the evacuation plan. As soon as the emergency alarm rang, an announcement of evacuation was released. The administrative staffs then guide the participants to the designated exits, wearing an orange emergency vest. Faculty members and students then followed the instruction of evacuating the building, using the nearest exits. Then the staffs practiced the use of fire extinguisher. Dean Soo Young Kwon and Associate Dean Jaehwan Kim learned how to activate fire extinguisher and practiced the use. How it works is that you need to remove the safety pin near the fire and then hold the fire hose. The pin has to be pulled out without holding the handle of the extinguisher. Dean Soo Young Kwon concluded the evacuation training by saying, “We hold fire evacuation training every semester to prepare for any unfortunate events. Thank you all for your cooperation”.
Social Event for the 84th & 85th AMP Senior and Junior Students
Social Event for the 84th & 85th AMP Senior and Junior Students On May 14th at dinner, the Business School’s Advanced Management Program (AMP) had its social event for its senior and junior students at Ahn Young Il Hall, LG-POSCO Building. The event allows the 85th AMP students to meet and network with their senior, the 84th AMP students. Participants were 60 AMP 84th and 85th students. The hosts were AMP Program Director Professor Sang Yong Kim, Associate Director Professor Seung Yeon Oh. The 84th students had a brief session of self-introductions, followed by the 85th students’ introduction. The 85th students attended the event with their families and partners. With provided refreshments, participants had a chance to socialize. The event was also followed by a performance of Cello Trio ‘Stupeo’. Titled ‘Classic beyond the Concert Hall’, Stupeo performed their unique arranged version of classical music and movie soundtracks. The audience gave big rounds of applause after each song was played.
2018 Startup Demo Day ‘CHOO CHOO DAY’, Successful Event with Positive Reviews
2018 Startup Demo Day ‘CHOO CHOO DAY’, Successful Event with Positive Reviews Presentation by 7 Startup Business Groups Korea University Business School (Dean Soo Young Kwon)’s Startup Station (Director Prof. Hicheon Kim) opened a startup demo day event called ‘2018 Spring CHOO CHOO DAY’ on May 11th, at Supex Hall, LG-POSCO Building. After 6 months of the structured training program, business groups at Startup Station presented their progress on the demo day event. Over 200 guests including potential investors, prospective entrepreneurs participated in this startup event. Dean Soo Young Kwon encouraged the startup groups, “I could see all the hard works and efforts you made during last 6 months. I believe this demo day event must have made you feel rewarding. I strongly hope that today is another big step of the success of your business.” Vice President of GoVenture Forum also said, “today I saw a bright future of the startup industry”. On the demo day, 7 startup teams from KUBS Startup Station participated in the presentation. Each team had a brief 10 minutes’ presentation on the progress of their product and services. The 7 teams are as follows. △‘Woot’: regional based micro community service for single person households △’UX (User Experience)’: cloud-based tool for designers △‘Whale Company’: prospective business in the fragrance industry △‘D&I PARVIS’: ‘Task Assisting AI’ technology for professionals with complicated tasks △‘RoBotry’: learning tool for mechanic engineering and robotic coding △‘IoPET’: health checkup kit for aged pets, assisting a diagnosis of the 5 most common pet diseases and illnesses △‘Dreamary’: online platform connecting apprentice hairdressers and clients looking for reasonable priced service. One of the 7 startup groups, Woot’s CEO Mr. Joon-Hye Park commented, “It was such a lot of work coming to this point. It is very rewarding though, and I would like to thank all the support we received. I wish our presentation today made sense to many of you here.” CEO of RoBotry, Mr. Sang-Wook Ahn also added, “Regardless of what today’s event will bring about, we learned a lot preparing for this event. It was challenging but now I think I know where my business should be headed.”
Emeritus Professor Yoon Dae Euh Made a Donation for Exchange Students to Stephen M. Ross School of Business, University of Michigan
Emeritus Professor Yoon Dae Euh Made a Donation for Exchange Students to Stephen M. Ross School of Business, University of Michigan Korea University Emeritus Professor Yoon Dae Euh (Business ’63, the 15th President of Korea University) made a contribution of 50 million won. The donation will be named as ‘Euh Yoon Dae Friendship Scholarship’, and it will be used to finance round-trip fare of exchange students to Stephen M. Ross School of Business, the University of Michigan in the U.S. ▲ Emeritus Professor Yoon Dae Euh (Business ’63, the 15th President of Korea University) Emeritus Professor Yoon Dae Euh served as the 15th President of Korea University for 4 years from 2003. One of his main achievements during his term was ‘Global KU Project’. This donation is also a part of his project as improvement of KUBS to ‘Global Business School’, by supporting students to spend their exchange semester at the University of Michigan’s Ross Business School. Emeritus Professor Yoon Dae Euh commented, “I hope this will be another big step facilitating exchanges between KUBS and Michigan Ross”. Korea University Business School signed international partnership agreements with University of Michigan’s Ross Business School. It is expected that the agreement would promote academic exchanges and cooperation between the two institutions. KUBS students are now eligible to participate in the exchange program at Stephen M. Ross School of Business, University of Michigan, depending on the number of incoming students from Michigan Ross. ▶ [See Article] 'KUBS, International Partnership Agreements with University of Michigan's Ross Business School'◀
The 3rd Seok-Top Research Awards Winners Prof. Martin Hemmert and Prof. Jae-Nam Lee
The 3rd Seok-Top Research Awards Winners Prof. Martin Hemmert and Prof. Jae-Nam Lee Prof. Martin Hemmert Prof. Jae-Nam Lee The Business School is proud to inform you that Professor Martin Hemmert (International Business) and Professor Jae-Nam Lee (Management Information System) received the 3rd Korea University’s Seok-Top Research Awards. Since 2016, Korea University commenced the Seok-Top Research Awards to encourage long-term researches and reward outstanding research performance of academic staffs at the University. The winners are selected by their research achievements in △ academic research papers, △ academic research journals, and △ research grant outcome. In addition to the number of publications in NSC Journal (Nature, Science, Cell Journal) as a first author, the top 3 % nominees were shortlisted by △ research quality, △ the number of research publications, and △total amount of research grants. Each year the award goes to 9 divisions including △ Humanities (Languages) △ Humanities (Humanities and Fine Arts) △ Social Science A △ Social Science B △ Social Science C △ Science A △ Science B △ Science C △ Medical Science.
2018 GMBA Homecoming Day
2018 GMBA Homecoming Day Socialize with fellow students and alumni The Business School held the Homecoming Day event for GMBA, Spring on May 10th, 7 pm at Ahn Young Il Hall, LG-POSCO Building. Participants were 30 GMBA students and alumni, as well as Program Director Prof. Yong Keun Yoo, President of GMBA Alumni Association Hyung-Rae Jeon. Professor Yong Keun Yoo celebrated the event by saying “Thank you all for participating in the event. I hope you have a great time tonight. Please keep updated on upcoming students and alumni events as well”. President of GMBA Alumni Association Hyung-Rae Jeon added, “As many of you may know, we have the end of year party later in 2018, it will be a big event. Hope to see you all there”. At the banquet, the participants had a chance to socialize with fellow students and alumni. One of the 7th GMBA alumni Chang-Soo Han commented, “My study at GMBA helped me a lot to develop my professional experience. I hope it will be the same to you; Hope you will achieve your goal after your study at GMBA.” At the end of Homecoming Day event, the participants all took a picture to celebrate the gathering. The Business School’s GMBA holds ‘Homecoming Day’ event every semester to encourage GMBA’s alumni network.
[2018-1 Global CEO Lecture] “Master New Skills”…Younghoon Park, Executive Vice President of GS Home Shopping
[2018-1 Global CEO Lecture] “Master New Skills"… Younghoon Park, Executive Vice President of GS Home Shopping On May 10, KUBS had its 9th special lecture by global CEO, Executive Vice President of GS Home Shopping, Younghoon Park. The lecture was held at Supex Hall, LG-POSCO Building, where Mr. Park focused on ‘Changes in technology, and How to Prepare’. Executive Vice President Park started his career in 1993 at Samsung C&T, and later he served as CEO at CellVic, Vice President at Monitor Group, President at Accenture consulting. He is now Executive Vice President at GS Home Shopping from 2014. Mr. Park started his lecture by emphasizing the importance of skill acquisition. He explained that it has now switched into an era of ‘Digital Marketing’, compared to ‘Media Marketing’ earlier on. Media Marketing refers to mass media used as marketing tools, such as on TV, radio, and newspaper. “It was often referred to as ‘One to N’ strategy, but it’s ‘One to One’ now.” Mr. Park added, “it is headed to marketing strategies targeted on a personal level”. Mr. Park also pointed out that the current paradigm can be characterized as ‘All about me’, which refers to the personalized society. He classified 4 characteristics of the change of society. First, hyper-personalization in a sense that individuals attempt to distinguish themselves from others. He explained, “Individuals now develop their own sense of world. Business, therefore, provides personalized services that fit for one consumer.” The second characteristic can be defined as ‘totally social’, a transformation of individuals’ social nature, as can be seen from the use of SNS. The individual has two distinguishable online and offline identities. In addition, contextual services that require an open mind to cultural changes. The last characteristic Mr. Younghoon Park mentioned about current change is the improved convenience of life in general as a consequence of technological progress, which can be referred to ‘seamless & easy’. Mr. Younghoon Park also stressed that the boost of 'ecosystem' is where the businesses should be headed. Ecosystem he referred to is an interactive system that participants exchange values and ideas to evolve and adapt to new environment. He suggested an example of Airbnb as the seamless and open business mechanism. “Airbnb adopts an open mechanism that allows consumer and suppliers”, he added. However, Mr. Park warned about resistance to such change. He explained, “Looking back history, changes always come with the resistance of any forms – technical, social or ethical. Therefore, it is important to manage the possible resistance to continue technological progress, in order to maintain national competitiveness.” In achieving ‘ecosystem’ Mr. Park suggested ‘Application Program Interface (API)’ for its technical realization. API can be defined as standards regulation between the interconnected services. API allows the connection and network between totally distinguished areas of services. He explained, “API has already been adopted by the successful businesses such as Alibaba, Apple, Amazon. API technique became the key concept in the operation of the business.” In conclusion, Mr. Younghoon Park advised the audience to learn skills. He explained, “It is not a good idea to have a distinction between humanities and science disciplines. Regardless of your major area, it is important to have a clear idea of skill acquisition to be able to prepare for future changes.” The Business School’s coming up ‘Global CEO Lecture series’ will invite △ Young Yul Seo, Chairman of PT.Pratama Abadi Industri (5/17) △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
Korea University Graduate School of Business Meeting with China Europe International Business School (CEIBS) for Improvements in MBA Programs
Korea University Graduate School of Business Meeting with China Europe International Business School (CEIBS) for Improvements in MBA Program On May 3rd, Korea University Graduate School of Business (Dean Soo Young Kwon) had a meeting with China Europe International Business School (CEIBS) to discuss possible improvements in MBA programs. The meeting took place at the Business School Dean’s Office. The participants were KUBS Dean Soo Young Kwon, CEIBS Vice President and Dean Yuan Ding, as well as △ Jenny Chang (KUBS International Office) and △ Singer Jiang (CEIBS). The meeting was mainly on strategies for transnational research exchanges, MBA and Ph.D. in particular. KUBS and CEIBS agreed to sign the partnership since March 2009. The 2 business schools had regular meetings for academic exchanges. This meeting looked into course structures of MBA programs in more detail, to facilitate further research exchanges. Dean Yuan Ding said, “It was pretty impressive to see how KUBS has such a strong alumni network. I hope 2 business schools would continue further international research exchanges, and both schools to learn from each other’s strengths”. Dean Kwon replied, “CEIBS is one of the most renowned business schools for its strong MBA program. I am also hopeful that the schools maintain the academic partnership.” CEIBS Campus CEIBS is the business school co-founded by China and EU. In less than 20 years of the foundation, the School has been accredited by AACSB and EQUIS. In 2018 Financial Times’ full-time MBA ranking, CEIBS has been proven to be the top business school in Asia, 8th in the world.
KUBS Startup Institute's Demo Day, 2018 Spring CHOO CHOO DAY!
KUBS Startup Institute's Demo Day, 2018 Spring CHOO CHOO DAY! Korea University Business School (Dean Soo Young Kwon) opens a startup demo day, ‘2018 Spring CHOO CHOO DAY’, on May 11th (Fri). After the 6 months’ startup training program, KUBS startup entrepreneurs present their ideas on their product and service on this startup demo event. Inviting over 150 participants this year, it will be a huge event with guests from universities, public institutes, publications, business as well as pre-entrepreneurs. The following 7 KUBS Startup teams will be presenting. △ ‘Woot’: regional based micro community service for single person households △ ’UX (User Experience)’: cloud-based tool for designers △ ‘Whale Company’: targeting niche market of fragrance industry, presenting creative product with solid distribution channel △ ‘D&I PARVIS’: ‘Task Assisting AI’ technology for professionals with complicated tasks △ ‘RoBotry’: learning tool for mechanic engineering and robotic education, made with paper pulp △ ‘IoPET’: health checkup kit for aged pets, assisting a diagnosis of the 5 most common pet diseases and illnesses △ ‘Dreamary’: online platform connecting apprentice hairdressers and clients looking for reasonable priced service Anyone interested in startups is welcome to participate in the demo event. More details can be found on KUBS Startup Institute website and facebook. ▶ Website: https://www.startupstation.kr ▶ Facebook: https://www.facebook.com/kubsstartupstation ▶ RSVP Here: http://onoffmix.com/event/134503 Established last September (September 2017), KUBS Startup Institute is the very first startup institute in the business schools in South Korea. The institute is responsible for training and researches for the startup business to encourage and support the admitted teams’ entrepreneurial success. The Startup Institute holds a competitive exhibition events ‘Startup Express’ each semester. Entry into Startup Institute is competitive; the Institute’s current business teams went through a thorough document screening and interview, passed the acceptance rate of 10:1. The benefits to the admitted business teams include financial support up to 5 million KRW, access to learning facilities at Iljin Center for Startup Incubation (Level 2, KUBS Main Building), training sessions offered by Seung Myung-Ho Entrepreneurship Education Center. In addition to all these, admitted teams will have opportunities to network with the renowned organizations who signed an MOU with KUBS, including △ Kim&Chang Law Firm △ PwC Korea △ Amazone Web Services △ Y Crowdy Inc.
[2018-1 Global CEO Lecture] “Differentiate Yourself from Others”…Ki-seok Park, CEO of SIGONG Tech
[2018-1 Global CEO Lecture] Ki-seok Park, CEO of SIGONG Tech … “Differentiate Yourself from Others” On the 3rd of May, KUBS invited Mr. Ki-seok Park, CEO of SIGONG Tech, for our Global CEO Lecture Series at Supex Hall, LG-POSCO Building. Mr. Park was the 8th guest lecturer invited for the special lecture, where he focused on ‘Something Different’. One of the proud Korea University alumni (German Language and Literature ‘69), Ki-seok Park has also completed 7 advanced programs including KUBS’s AMP (Advanced Management Program). Ki-seok Park established Sigong Tech in 1988, it is the 30th year since the foundation. At the start of the lecture, Mr. Ki-seok Park shared his childhood story. His father passed away when he was 3. He had to defer his entrance to the university for few years (entering class of ‘69) because of financial difficulties. Nevertheless, he never thought the things happened to him was unfortunate. Mr. Park added, “I may have a miserable childhood, but I never thought I had an unhappy childhood. In fact, keeping a positive attitude is also very important in cooperation with other businesses. Optimistic persons always draw more attention from people around them". Moreover, Mr. Park said, “Business makes it possible what once seemed impossible”. He worked for Ulsan Industry from 1977, where he built his work experience abroad. However, the company went broke in less than 2 years. He had to start from scratch. That’s when he started running his own business abroad, where he worked with a range of galleries and science museums. It was quite a shock for him to discover the developed facilities. He was deeply inspired by the advanced technology, which led him to establish Sigong Tech in 1988, the very first exhibit facilities business in South Korea. Mr. Ki-seok Park added, “Creativity and imagination are fundamental to the success of a business. Sigong Tech is the company pioneering a new field of business”. In fact, pioneering a new area was not at all easy. His business went through hard works participating in the 1988 Seoul Olympic Games as an exhibition business operator. The business plan he had was a laser show at 63 Building, however, his clients did not give credit to him since his did not have much experience back then. “I was even told that my idea was fraud, based on a flawed idea that glass surface would not reflect laser. I did not give up, instead, I gave a demonstration of putting a paper on the glass to prove my idea.” The success of the laser show in the 1988 Seoul Olympic Games brought him a huge business growth. Mr. Ki-seok Park pointed out that “business with high potentiality is the one that nobody else can think of or make it possible.” He is also working on digital education business, taking Sigong Tech as a parent company. He started the investment early in 2000, thinking that the key to national competitiveness is in the digital education. “It is crucial to keep constant interest and research for where the future economy is headed”, he explained. ‘i-ScreamS’ is the digital education program developed by Mr. Park, which is widely distributed and used in elementary schools as one of the learning aids. Mr. Ki-seok Park concluded his lecture by emphasizing ‘Be something different’. In achieving ‘differentiate yourself from others’, it is important to set a goal. You need to first discover what you are good at, and what you are interested in, in order to plan your future. Mr. Park explained, “If you look at it, there must be few ways to reach your goal. I would strongly suggest you choose the one that others have not chosen. Be the pioneer, differentiate yourself”. This is also to do with your passion and willingness to challenge. “Otherwise, you may end up being a passive person who does what you are asked to do. That is the last person you want to be”, Mr. Park concluded. The Business School’s coming up ‘Global CEO Lecture series’ will invite △ Younghoon Park, Executive Vice President of GS Home shopping (5/10) △ Young Yul Seo, Chairman of PT.Pratama Abadi Industri (5/17) △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
Hong-Mae Kim, CEO of Dongwon Phoenix Inc. Made a Donation of 100 Million Won to KUBS
Hong-Mae Kim, CEO of Dongwon Phoenix Inc. Made a Donation of 100 Million Won to KUBS Last May 1st at the Dean’s Office, the Business School held a ceremony for Ms. Hong-Mae Kim’s contribution to KUBS. On this ceremony for the donation of CEO of Dongwon Phoenix Inc., Hong-Mae Kim, KUBS Dean Soo Young Kwon, Program Director of the MBA’s Management Studies Program (MSP) Professor Hyoung Koo Moon, Vice-Chairman Sang-Kyung Park, Secretary General Jang-Hyun Park, Chair of the Advisory Committee Ja-Hee Hyun attended the donation ceremony. On this event, Ms. Hong-Mae Kim made a contribution of 100 million won to the Business School. Ms. Kim has completed the Korea University’s 76th MBA, now she is the president of MBA Alumni Association as well as the vice president of Korea University Alumni Association. She added, “I have always wanted to support education for the future generation who can potentially make a difference to the society”. “I hope more students will be able to pursue their field of interest, without financial concerns.” (From the left) Dongwon Phoenix Chair of the Advisory Committee Ja-Hee Hyun, Vice-Chairman Sang-Kyung Park, Secretary General Jang-Hyun Park, CEO Hong-Mae Kim, MSP Program Director Professor Hyoung Koo Moon, Dean Soo Young Kwon Ms. Hong-Mae Kim started her business establishing Halim Trading Company in 1997. In 1999, she founded Dongwon Phoenix Inc., exporting fabric manufactured goods. The silket cotton exporting company achieved a big success in the luxury fabric market in China by adopting trusted management strategy of leaving less profit and compensating for all claims. Her business has grown to reach 20 billion won sales a year, with over 40 subcontractors in China. Ms. Hong-Mae Kim received several awards in recognition of her success: The Presidential Citation in 2002, Award by Kyonggi Regional Office for Small & Medium Business Administration in 2015, Meritorious Award for Successful Businesswoman in 2016. This year, Ms. Kim also contributed 100 million won to Community Chest of Korea, joining Honor Society. On last March, she also received the grand prize of ‘The 1st Award of South Korea’s Best Leaders with Contributions’.
[2018-1 Global CEO Lecture] “Prepare for Your Future, Make a Plan”…Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd.
[2018-1 Global CEO Lecture] “Prepare for Your Future, Make a Plan”…Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd. On April 26th, KUBS had a special lecture by Mr. Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd. It was the 7th lecture of Global CEO lecture series, where Mr. Yoo focused on ‘the youngest CEO for the longest term- My 30 years’ experience in securities business’. Mr. Sang-ho Yoo holds an MBA degree from the Ohio State University, the U.S., before starting his career at Korea Investment & Securities in 1988. He has been promoted and elected a president in 2007, which was the youngest president in the securities business. Mr. Yoo has also been elected as a president for the longest period, serving the 11th consecutive terms. Mr. Sang-ho Yoo started his lecture by sharing his story back in his early years at Korea Investment & Securities Co., Ltd. Back then Korea Investment & Securities was the second best organization, with a large gap between the best, Daewoo Securities. Daewoo Securities had more than double size of business. He decided to work on his 10 years’ plan. △In his 20s, develop knowledge from books and mentors △In his 30s, improve practical skills, applying the knowledge from his 20s △In his 40s, manage his team/organization and create values based on his knowledge and skills △In his 50s, rely on his prior knowledge and skills. Mr. Yoo’s goal was to be a CEO. However, it was generally agreed that CEOs in the securities business, the determination of CEO election depends on their years of experience, instead of their performance. That is, once a person started his/her career, it will take over 30 years to be a CEO. “So I thought I should work on my 30 years’ plan,” he added. Mr. Yoo stuck to his plan and ended up elected as a president of Korea Investment & Securities Co., Ltd. Besides, it was 12 years earlier than he planned. “I don’t think anybody is capable of fully achieving their plans. Nevertheless, you will be surprised to see how they turn out comparing people with plans and those without.” In the securities business, Mr. Sang-ho Yoo is also called as ‘Legendary James’. The nickname is made back in 1992 when he worked in London, selling Korean stocks to the market. It was the time when Korean stock market started to open to overseas buyer/sellers. In consequence, selling stock to international market was the main task they focused on. He added, “It was hard to set the client target since London has a very competitive market with the high cost of living. I made an English name James so that people there can remember me easily. I changed my mobile number starting 007, too”. The thing about stock sales is that there is no clear standard to compare, not refundable, and yet it has significantly large trading unit. Mr. Yoo said “stock sales are way more difficult than sales of tangible products. It is a long-term process; You need to put a large effort, build up credibility, which then you can proceed with the transaction.” To adjust to the British market, Mr. Sang-ho Yoo adopted a strategy of ‘put yourself in else’s shoes’. He started from thinking what fund managers would be looking for the most. “Because back then South Korea was not a well-known country for most British people. So I thought I need to start by providing information about South Korea,” he added. He collected information and make a brief report on Korea’s legal system, policies, and finance organizations. He provided the information every time he met fund managers and built up a network, which led to successful stock sales. Mr. Yoo said, “differentiation, credibility, patience, and perseverance are the keys to success in securities business”. Mr. Sang-ho Yoo concluded his lecture by explaining who is the right fit for the organization. He stressed ‘PSD (Poor Smart Desire to become rich)’. PSD can be defined as a person who is eager to be rich; eager to achieve a big goal regardless of where (s)he stands. Mr. Yoo added, “In fact, employers do not make decisions based on applicants’ degrees from top universities or outstanding certificates. If you would like to stand out, you need to be able to demonstrate that you have a clear sense of what you would like to achieve. The Business School’s coming up ‘Global CEO Special Lectures’ will invite △Ki-seok Park, CEO of SIGONG tech (5/3) △ Younghoon Park, Executive Vice President of [GS Homeshopping] (5/10) △ Young Yul Seo, Chairman of PT.Pratama Abadi Industri (5/17) △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
Korea University Ranked 'Top' for the 6th Consecutive Years by the Korea Economic Daily Business 2018 MBA Ranking
Korea University Ranked Top for the 6th Consecutive Years by the Korea Economic Daily Business 2018 MBA Ranking Korea University Business School (Dean=Soo Young Kwon) has recorded the highest MBA rank in the country, far outstripping other universities in Korea. This achievement reaffirms KUBS’s position as the best institute for MBA programs. <The Korea Economic Daily Business> releases annual report of ‘2018 MBA Ranking in South Korea’ based on survey by human resources managers at 300 best organizations. On the report, Korea University’s MBA ranked the top for 6 straight years. Since its first report released in 2013, MBA at KUBS continued its No.1 ranking, standing on the very top of the list. This year, <The Korea Economic Daily Business> added KAIST to the list of a total of 14 universities offering accredited MBA programs. Their performance was assessed by human resources managers from major companies in South Korea. The survey was conducted on △employer’s preference △potentiality △ability to work as a team △ability to work in global business △professionalism △willingness to recommend. In particular, the Business School’s MBA placed top on △potentiality △ability to work as a team, achieved the highest rank with a total mark of 4600. KUBS demonstrated outstanding result in the ability to work as a team, with a large gap of 150 points between the second. (Picture by the Korea Economic Daily Business) The Korea Economic Daily Business wrote, “As a member of CEMS, a global alliance of leading business schools, multinational companies and NGOs, Korea University’s MBA program offers remarkable curriculum. Its unique practice-based curriculum made it possible to achieve the remarkable outcome, No. 1 MBA in South Korea". Dean Soo Young Kwon added, “Our superior students from diverse specialties learn to work as a team, which produces collective intelligence that increases the School’s potentialities. The Business School is receptive to new ideas and changes; we will maintain our position as Korea’s No. 1 MBA.” See Articles [The Korea Economic Daily Business] Special Report : 2018 Korea's MBA Ranking 고려대 MBA 6회 연속 1위...'1등 질주'는 이어진다 "글로벌 MBA 지원자 몰려...'CEMS 효과' 톡톡히 봤죠" 부동의 1위 비결 '차별화된 커리 큘럼' '시대에 맞는 인재' 한국형 MBA의 화두 The Korea Economic Daily Business 1169th Edition E-book
2018 KUBS Full-time MBA Admissions Open
2018 KUBS Full-time MBA Admissions Open Korea University Business School (Dean=Professor Soo Young Kwon) is now accepting applications for Fall 2018 MBA admissions Admissions open for 3 full-time MBA programs: △Global MBA, △Global MIM and △S3 Asia MBA. Both Global MBA and Global MIM have three application rounds. The 1st round application has been closed, and 2nd & 3rd round applications due on 5pm, March 29 (Thu) and April 27 (Fri) respectively. Global MBA and Global MIM are programs which equip students to academic and professional skills through a variety of global experiences. If candidates participate in programs at partner schools across the world, they are eligible for the award of degrees from both institutions. 2nd round interview will take place on April 14 (Sat), with its result release on April 24 (Tue). The final round interview will be held on May 19 (Sat) and the result will be released on May 30 (Wed). Application for the Business School’s S3 Asia MBA will be open until April 27 (Fri) 5pm. S3 Asia MBA is an Asia-specialized MBA program where candidates study at 3 universities in 3 different countries in Asia — Korea University, Fudan University, and National University of Singapore (NUS). Candidates are eligible to graduate with 2 degrees, one from KUBS and the other from either Fudan University or NUS. Once the application closes on April 27 (Fri), the result will be notified on May 11 (Fri). Shortlisted applicants will need to attend an interview on May 19 (Sat), then the final outcome will be released on May 30 (Wed). Applications for the above MBA programs can be made online via (https://bizapply.korea.ac.kr/en/). Please contact the Department Office (02-3290-5365) for further information. Global MBA / Global MIM S3 Asia MBA
[2018-1 Global CEO Lecture] “Work on Your Problem Solving Skills”…Choi JongKu, Chairman of the Financial Services Commissions
[2018-1 Global CEO Lecture] Choi JongKu, Chairman of the Financial Services Commissions … “Work on Your Problem Solving Skills” On April 19, the Business School invited Mr. Choi JongKu, Chairman of the Financial Services Commission for the Global CEO lecture series at Supex Hall, LG-POSCO Building. The lecture was mainly on ‘Finance in South Korea – Productive, Inclusive and Trusted Finance’. The Financial Services Commission (FSC) was established in 2008. It is a top decision-making organization responsible for domestic financial policies, aiming to advance the financial sectors and stabilize the financial market. Chairman Choi JongKu, one of our proud alumni (Business ‘76), passed the Civil Service Examination in 1981. After his appointment as Deputy Minister for International Affairs at the Ministry of Strategy and Finance, he served as President & CEO of the Seoul Guarantee Insurance (SGI). Prior to his appointment as the FSC Chairman, he was Chairman & President of the Export-Import Bank of Korea. The lecture was mainly on △current issues on the economy △productive finance △ inclusive finance △ trusted finance △conclusion. 10 years since the 2008 Global Financial Crisis, the global financial market has entered into a stable phase again. As a result of increased volume of global trade in 2017, the global growth rate has grown to 3.7 percent. Mr. Choi added, “Financial market reflects real economy. As a consequence of the increase of consumption in advanced economies and the expansion of exports in developing countries, the financial market has stabilized.” It is obvious in the domestic market as well; the expected rate of economic growth is 3.0%. The key for a stable economy in South Korea is the ability to handle the external crisis. Moreover, Mr. JongKu Choi pointed out 2 issues in the domestic economy. The first is the deterioration of growth engine. That is, in 2015 the technological gap between South Korea and China has significantly reduced, compared to that of 2011. In addition, Mr. Choi pointed out population growth. In 2016 the fertility rate dropped to 1.17, which is considerably lower than the average OECD fertility rate of 1.7. He added, “the weakening of production capacity is inevitable, as a result of the reduction of working age population. That is why the identifying source of production is crucial.” The second issue he raised was the economic distribution with regard to economic equilibrium. Over 60% of domestic sales come from the large conglomerate, and yet the large proportion of employees up to 85% work for small-sized business. Mr. Choi commented, “the economy’s distribution to the household has decreased, whereas the importance of conglomerate continues increasing. It results in unemployment issues with an increased household burden on the cost of living.” As a resolution for the issues raised above, Mr. Choi put emphasis on productive, inclusive and trusted finance. Above all, productive finance refers to financial sector focusing on its fundamental functions including financial intermediation, property management, risk management and payment settlement function. He added, “the nature of finance is to enable efficient capital flow. The FSC, therefore, is planning to apply a reasonable method of regulation to make it possible to achieve ‘productive finance’. He suggested an example that firms now go through an audit process by auditing firms assigned by the FSC, whereas earlier firms were allowed to select the auditing firms themselves. The concerns on inclusive finance have been raised from the social responsibility and policy onfinancial sector. Chairman JongKu Choi said “An incredibly large proportion of disadvantaged in the world does not have an access to insurance, credit transactions or even saving up for themselves. The government will work on the support system to realize social values.” One of the possible government support is the implementation of a loan with a moderate interest rate. This moderate interest rate loan is allowed for people with low levels of credit rating, between 4 to 7 stage ratings. In addition, Chairman JongKu Choi also stressed that “credibility is the key to the operation of a financial market. Any transactions of deposit or investment are made under the assumption that they get back to you, 100% of the time. Instability of financial sector is highly critical to financial sectors because they will lose their credibility. The worst case scenario, it may result in failure of returning the deposit to its owner. Mr. Choi continued, “and most of the times the factor causing financial instability is household debt. The ratio of household debt in Korea expands in a fast rate. Nevertheless, the large proportion of household has quite high level of credibility because of the mortgage loan.” The problem is that it seems stable on the outside. However, that does not necessarily mean we have a stable financial market. After all, we need to work on lowering the rate of household debt. He suggested few strategies including an increase of quality efficiency of the structure, mortgage repayments, implementation of consumer protection strategies. In conclusion, Mr. JongKu Choi stressed ‘YouthQuake’. ‘YouthQuake’ is the word of the year 2017 by Oxford Dictionary, which is defined as ‘a significant cultural, political, or social change arising from the actions or influence of young people’ (Oxford Dictionary). “Above all other aspects, what employers are looking for is an employee who is full of brilliant ideas, with excellentproblem solving skills” he concluded, “I strongly hope you make a significant change in South Korea”. The Business School’s coming up ‘Global CEO Special Lectures’ will invite △ Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd. (4/26) △Ki-seok Park, CEO of SIGONG tech (5/3) △ Younghoon Park, Executive Director of GS SHOP (home shopping) (5/10) △ Young Yul Seo, Chairman of PT.Pratama Abadi Industri (5/17) △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
[Startup Lecture Series] “The Importance of Continuous Learning” Tony Swun Woo Park, Managing Partner at LB Investment
[Startup Lecture Series] “The Importance of Continuous Learning” Tony Swun Woo Park, Managing Partner at LB Investment On April 17, KUBS Startup Institute invited the second guest lecturer for ‘2018 Spring KUBS Startup Lecture Series’ at 6:30 pm, Startup Station. The guest lecturer was Mr. Tony Swun Woo Park, a managing partner at LB Investment. On his lecture, Mr. Park focused on ‘China’s Top Dating Mobile App, TanTan’. Mr. Tony Swun Woo Park is one of proud KUBS alumni (Business ‘92) who founded Future Entrepreneur’s Society (FES) at the School. Mr. Park worked for HanbitSoft, before he moved to China to work at The Nine and Alibaba. While developing his professional career abroad, he built strong knowledge about business practice in China. Mr. Tony Swun Woo Park is currently a managing partner at LB Investment’s Shanghai Office. Mr. Park started his lecture by saying ‘the most important thing to keep in mind in the determination of an investment is knowing who the founder is’. He presented an example of TanTan of which founders are a couple married for 10 years. In fact, the founders were quite familiar with running a business. For 8 years they ran an exclusive service for the social elite, by which the owners practically built up the client basis for their next business. Mr. Park added, “there are risks running a family business. But at the same time, it is a safe and reliable way to go. It is important that you need to take into account whether a founder is reliable when making investment decisions”. Mr. Tony Park then shared his experience with TanTan. In fact, the funding for TanTan was completed when he reached them. Nevertheless, he did not give up. “I kept contacting them until I was able to have a breakfast with them discussing the funding” he added. “That was when I felt years of my study on business finally paid off. I was actually able to take the lead in the next investment.” His decision has proved to be right – 2 years later $45million dollars’ worth investment has grown to $800million dollars. Tony Park also pointed out the importance of looking into the size of users. Mr. Park argues that DAU, WAU, and MAU all have to be taken into account. That is, you must see the difference between DAU (Daily Active Users) and WAU/MAU because the less gap they have, the more frequent the customers use the service. He explained, “the users’ frequent use indicates that the business has a great market condition to expect a positive investment outcome. Comparing DAU, WAU, and MAU gives you a fundamental understanding of user retention. If a business has a large gap between those, it must not be overlooked. The business needs to come up with resolutions.” Mr. Park concluded his lecture by emphasizing the importance of continuous learning. “One of the worst scenarios is that a business is quite a success, and yet the founder cannot catch up with the growth of his/her business after all. So I agree with the statement that the pursuit of knowledge is ongoing. I want you to keep in mind the concept of lifelong learning”, he advised. The lecture was followed by a Q&A session where an audience asked Mr. Park ‘what are the things I need to be careful when I receive funds for my business?’ Mr. Tony Park replied, “If possible, it is a very good idea to receive investments from people who know you well. It could be your boss, CEO of the company you worked for or could be someone you worked together for a long time”. KUBS Startup Institute opens practice-based lecture series ‘Lecture on Demand’ about startups and business venture. Anyone interested is more than welcome to participate in the lectures. For further inquiries, please contact KUBS Startup Institute at 02-3290-2551.
Donation of 50 Million Won by Byeong-chae Kim, CEO of Poinix Inc. (Business '77)
Donation of 50 Million Won by Byeong-chae Kim, CEO of Poinix Inc. Mr. Byeong-chae Kim (Business ’77, CEO of Poinix Inc.) made a donation of 50 million won to the Business School. The contribution by Mr. Byeong-chae Kim will be used to finance scholarships to business school student. Mr. Kim added “I have always wanted to be a part of supporting the School’s outstanding achievement. I wish my contribution would be well spent on my junior KUBS students and the School”. Established in 2003, Poinix Inc. is a company specialized on pavement technology, renowned for their best-selling product ‘RSBS modified Double Layer Porous Asphalt’. The product has a remarkable soundproof capacity up to 90% of traffic noise with the absence of soundproof walls. Since 2006 Poinix Inc. has worked on their research on noise reduction paving, and presented their technology on the market in 2007. Poinix Inc. developed double layer porous asphalt in 2011. Poinix Inc. is the very first organization to receive national accreditation from the Ministry of Environment on their technology of traffic noise reduction in 2015.
“An Excellent Opportunity for a Deep Consultation with My Professor" ··· 500 Students Attended Faculty-Student Mentoring Day
Faculty-Student Mentoring Day with 500 Students· ·· Successful Event with Positive Reviews “An Excellent Opportunity for a Deep Consultation with My Professor" KUBS had the Business School Faculty-Student Mentoring Day event held on last 9th, 12th and 13th at Ahn Young Il Hall and Cuckoo Hall, LG-POSCO Building. Held for three days, the mentoring day event had participants of 57 faculty members and 508 students. At the beginning of the event, each student put on a name tag and introduced themselves to their academic advisor. Prior to the consultation, students filled out a survey asking students’ △field of interest, △career goal, and △comment on the course. Academic advisors then started the consultation based on the students’ survey responses. One of the participants, Yoon-Jung Choi (Business’16, academic advisor=Professor Hicheon Kim) commented, “It means a lot being able to ask questions and consult with my academic advisor. Since he spoke to each student at the table, it was a great help sharing other students’ concerns and ideas as well”. Since 2007, KUBS holds a faculty-student mentoring program in which an academic advisor is assigned to students for consultation. It is designed to share information on their study and career paths and even personal advice where necessary. The mentoring day event is held every semester. Check Out Pictures of Mentoring Day