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"Creating the Company’s Unique Entry Barrier is Important" ... Entrepreneurship Special Lect

"Creating the Company’s Unique Entry Barrier is Important" ... Entrepreneurship Special Lecture by Yoon Sungpil, CFO of Thingsflow    On April 9th, the first semester of the Entrepreneurship Academy was held at the KUBS (Dean = Kim Sang Yong) Startup Research Institute (Director = Moon Jungbin). Yoon Sungpil, CFO of Thingsflow, was the speaker for the first lecture series of the Entrepreneurship Academy. CFO Yoon Sungpil spoke on the topic of 'VC and the Startup Market,' providing explanations and advice on initial startup funding.      CFO Yoon Sungpil built his career as a venture capital (VC) expert, having worked as the head of the Shinhan Venture Investment Team, a reviewer at Neoflux, and an investment analyst at NHN Investment. Currently, he serves as the CFO of Thingsflow, a company that produces B2C services utilizing AI technology, such as 'Hellobot' and 'Between.'     Firstly, CFO Yoon Sungpil explained the methods of startup funding. Startup funding is divided into stages of growth such as △seed investment, △Series A, B, C, and △accelerator funding. CFO Yoon said, "Many startups face the most difficulties in the seed and Series A stages," and "since there is not much evidence to show, investments close to trust tend to occur."      CFO Yoon then described the characteristics of startups that VCs want to invest in. Firstly, there are types of startups that are easy to invest in, such as △tech companies, △online companies, and △new businesses. CFO Yoon explained, "Companies with technological expertise can undertake unique ventures, thus receiving high evaluations in terms of stability and growth potential," and "VCs also favor types of businesses such as online businesses, software, and content, which can scale up easily and make a significant impact with minimal investment.”     CFO Yoon also introduced the perspective of VCs in evaluating startups. Firstly, the potential market size that the startup can enter and its growth potential are considered. CFO Yoon emphasized, "Before starting a business, one should question whether the item can create a large market," and "targeting a market with a size of at least 1 trillion and rapid growth is advisable."      Secondly, the importance of the problem is the market defined by the company is considered. CFO Yoon said, "It is important to consider whether the problem is one that customers really want to solve," and "There is also a way to enter an existing market where demand already exists."    Thirdly, the uniqueness of the technology possessed is considered. CFO Yoon introduced the case of the startup 'Ppodeuk,' which provides dishwashing services, as an example. CFO Yoon explained, "While it may seem like a problem difficult to solve in student entrepreneurship, even small entry barriers can be created," and "By mastering the dishwashing process itself over several years, 'Ppodeuk' has created its entry barrier." He further elaborated, "Although it's an idea anyone could think of, by diligently understanding customer needs, the product itself can become a unique entry barrier for the company," emphasizing how understanding customer needs persistently can turn the product into the company's unique entry barrier."      Fourthly, the upper limit of the price at which the product can be sold is considered. CFO Yoon emphasized, "How expensive the product can be sold for, is equivalent to proving the influence of the business," and "Attracting customers by lowering the price is not a scalable method," advising to think about maintaining the price but creating added value corresponding to the price.    Lastly, the position of the team within the market and the qualities of the team members are considered. CFO Yoon explained, "When a good team is established, the approach to conquer the market itself changes," and "Since the team itself can be a selling point, it is important to create a startup that gathers the best talented people."      The lecture concluded with a Q&A session. CFO Yoon advised, "It is important to meet as many VC-related individuals as possible from the early stages," and "there is a need to consider the dilemma between efficiency and stability in fundraising as well." 

2024.05.07 Views 259

’2022 Spring Campus Tour and Meeting Day for High School Students’ held on campus for the first time

’2022 Spring Campus Tour and Meeting Day for High School Students’ held on campus for the first time   The “2022 Spring Korea University Business School Regular Campus Tour and Meeting Day for High School Students” hosted by Korea University Business School (Dean = Johngseok Bae) was held on May 21st (Sat) around the KUBS campus. The event is organized and hosted by KUBS student ambassador KUBE (hereinafter referred to as KUBE), and was joined by 102 students of 53 schools.   The event is more meaningful as the “Regular Campus Tour,” held online due to COVID-19, was held face-to-face on the campus for the first time in about two years as COVID-19 daily recovery began.     The regular campus tour is a program for high school students nationwide to walk along the campus of Korea University with the KUBS Student Ambassador KUBE, directly hear about university life, and receive information about business major and mentoring by student ambassadors.    To proceed with the program, KUBS received applications from high school students nationwide interested in KUBS for about two weeks from April 18. A total of 117 students were selected through the competition rate of about 5:1. This regular campus tour consisted of △KUBS introduction △ introduction of seven majors and in business administration △ Campus Tour △ Mentoring program with KU students △ Closure and group photos.    Students gathered at SUPEX HALL of LG-POSCO building continued their regular campus tour program, starting with a welcoming speech by Jaeuk Chun, Associate Dean of KUBS.    "I'm delighted to be able to meet high school students face-to-face on the business school campus for the first time in more than two years," said Associate Dean Jaeuk Chun. He welcomed the students saying, "Thank you for coming to Korea University from all over the country, including Jeju Island, and I hope you make good memories through this campus tour."      Next, KUBE hosted the “About KUBS” section by an overall explanation of KUBS, seven majors and detailed tracks. High school students who participated in the event enjoyed the event by answering the quiz enthusiastically.   After the program at SUPEX Hall, Campus tour led by KUBE continued. Students toured the △ LG-POSCO Building △ Hyundai Motor Hall △ KUBS Main Building, as well as the △ Main Building △ Central Plaza △ Centennial Memorial Samsung Hall △ Tiger Statue.        Following the tour , "Mentoring time with KU students" was held in the lecture room on the B2 floor of the Hyundai Motor Hall, forming a free exchange venue. The event ended with a survey and a group photo shoot. A high school student who participated in Regular Campus Tour said, "I had a lot of concerns about my future, but thank you for making it a little clearer," adding, "I really want to come Korea University Business School next year and become a member of KUBE."     Meanwhile, the KUBS Regular Campus Tour is held once per semester (May and November). Teen Mentoring Day, which offers in-depth experience in business, will be held in July during summer vacation. The recruitment of high school participants will begin in mid-June.

2022.06.07 Views 1179

Learn from our seniors in life, our professors... Mentoring day for the 2022 Spring semester

Learn from our seniors in life, our professors... Mentoring day for the 2022 Spring semester     The KUBS (Dean =Johngseok Bae) Mentoring Day event for the 2022 spring semester was held for 3 days from May 18th to 20th. Although the Mentoring Day event was held online due to COVID-19, 30 professors and 43 undergraduates attended the event, and each student accessed the small meeting room of each professor and worked as a group. Foreign students from business schools also participated which again proved KUBS to be a global business school.   Johngseok Bae, dean of Korea University's Business School, said, "90% of large companies prefer science and engineering students, and especially, employment is a lot different from before since they are recruiting employees with experience," and “We hope that you will make use of the Career Development Center’s many programs organized by grade and cycle.” He also guided students about the new detailed track system of KUBS, and introduced the new trees set in front of the KUBS Main building and the artworks of Lee Ufan.  Jaeuk Chun, associate dean of KUBS, said, "Finally, it is time to experience the spring and festival of the university, and the opportunity to enjoy university life fully,” and “Since university life is a privilege that only students can enjoy, so I hope you can enjoy university life through festivals as well as your studies." Associate dean Chun then concluded his words saying, "Although the meeting was limited due to COVID-19, I hope to meet students offline from next semester." Meanwhile, Mentoring Day has been introduced since 2007 to help business school students share the difficulties of school life with other students, meet with their advisors to get various advice on studies and careers, and form a network through exchanges. KUBS is generously supporting students to get realistic help from their advisors, who are their university and life seniors.  

2022.05.30 Views 1179

G-MBA holds its own Ko-Yon Jeon …The first battle since the recovery of COVID-19

G-MBA holds its own Ko-Yon Jeon …The first battle since the recovery of COVID-19    Ko-Yon Jeon between Korea University and Yonsei University's Global MBA(G-MBA from below) was held at the Kiheung SKYTOP Sports Center in Gyeonggi Province on May 15th (Sun).   This G-MBA Ko-Yon Jeon is an event organized by G-MBA students as two universities, Korea University and Yonsei University, called eternal rivals, failed to hold regular Ko-Yon Jeon for about two years due to COVID-19.  25 members from Korea University and 23 from Yonsei University attended the G-MBA Ko-Yon Jeon, which was held for the first time since the daily recovery of COVID-19, to build mutual networks and promote friendship among the members.   The program included basketball and dodgeball, as well as △three-legged race △ relay △ tug-of-war △ shoe throwing △ mini-game race △ quiz. It consisted of activities that G-MBA members could enjoy passionately and have low risk of injury. The G-MBA Ko-Yeon Jeon ended with Yonsei University's final victory, with the university scoring points assigned for each event.    An event official said, "I am happy to be able to hold a meaningful event now out of the shadow of COVID-19 with G-MBA students from Korea University and Yonsei University which are two very iconic schools," and added, "I hope this event will go beyond competition and become a venue for harmony between the members."

2022.05.30 Views 1081

CDTB Colloquium ends in big success… ‘The virtual world, the beginning of New Commerce- Metacommerce

CDTB Colloquium ends in big success… ‘The virtual world, the beginning of New Commerce- Metacommerce’     The Colloquium hosted by the KUBS (Dean = Johngseok Bae) Center for Digital Transformation & Business (Center Director = Byungcho Kim, hereinafter CDTB) was held on May 20th(Fri) at SUPEX HALL of LG-POSCO Building. The lecture, which was conducted online and offline at the same time, was given by Sooil Kim, the head of LG CNS CX Strategy Group, as a speaker under the theme of "The Virtual World, the Beginning of New Commerce - Metacommerce"   Sooil Kim, group leader, started the lecture saying, "We will introduce what services and commercial purposes real companies use Metaverse, which has recently become a hot topic, and talk about Metacommerce." In the first half of the lecture, he talked about the entire industry explaining the △ 4-types of Metaverse △ Metaverse ecosystem △ Metaverse service areas. He particularly explained, "It is possible to implement various services using metaverse technology for each industry, and the initial metaverse service area which centered on games and entertainment is continuously expanding," and “the most lively area is commerce.”    "Companies are showing movements to expand their services in this area by utilizing metaverse," he followingly said, and explained the development process of the commerce area from e-commerce, which is centered on images and text, to Metacommerce, which uses 3D virtual spaces. “Metacommerce is a new e-commerce method that allows users to experience and purchase products and services in a virtual space. It implements realistic and differentiated services beyond simple interest, while delivering immersive and accurate information to customers by setting directions for the characteristics of each product and service,” he said. In order to implement Metacommerce services, it was mentioned that End-to-End execution power is needed, such as △ channel strategy for Metaverse △ Metacommerce-directed service plan △ connection with platform in which implementation is possible & existing channels △ sustainable operation. "Establishing a metaverse-use platform for each company itself is a starting stage," said group leader Kim. "Role of LG CNS is to proceed with optimized customized platforms with customers and help quickly implement combinations with existing channels."    Because metaverse is a world, customers move along the route in it. "We can collect various customer behavior data by following the customer's movements," group leader Kim said, and "We can upgrade our services through these behavioral data." At the end of the lecture, he explained the process of LG CNS receiving service offerings and producing results through the cases of Shinsegae Department Store METAXSHOP, LG Electronics virtual VR showroom, and LG Chem LETZero. Sooil Kim, group leader, concluded the lecture, saying, "I hope that through this lecture, you will feel that many companies are contemplating about and trying to introduce metaverse." the Colloquium came to an end after 15 minutes of Q&A session.

2022.05.30 Views 1131

Work of Lee Ufan, a world-renowned artist, was established at Korea University Business School

Work of Lee Ufan, a world-renowned artist, was established at Korea University Business School First among univeristies to install work of Lee Ufan : [Relatum - The Location]   KUBS(Dean=Johngseok Bae) held the installation ceremony of the work of world-renowned artist Lee Ufan(86), [Relatum – The Location](‘Relatum – The Location’ from below) on May 17th(Tue) at 3 p.m..   With his philosophical paintings of dots and lines, Mr.Lee greatly influenced Korean and Japanese contemporary art and has become one of the most renowned artists in the world, placed his new work of ‘Relatum – The Location’ consisting of a 1m 40cm high natural stone and a mirror stainless steel plate measuring 4m and 3m, respectively, high up on the Business School campus. Lee Ufan's work ‘Relatum – The Location’, consists of a form in which a man-made artifact, iron plate, and a stone made by nature, meet through the artist's mediation and talk about mutual ontological relations. For the production of the work, Lee Ufan visited the school's campus in the second half of last year and decided on the concept of the work after four to five months of planning. It is a rare case in Korean universities to have proposed and arranged new works of art by world masters instead of installing commemorative sculptures such as statues. Through the installation of this work, the business university expects students to increase their social and artistic imagination, create new ideas and knowledge with social influence, and foster social leaders who will change the world. The installation event of Work of Lee Ufan consisted of 2 parts, the academic event of Lee Ufan’s art theory in the first part and the unveiling ceremony in the second part.  The first part of the art theory academic event, titled "Life and Art of Lee Ufan," consisted of a lecture by Professor Lee Yong-woo, a chair professor at Tongji University in Shanghai, and a talk with Seo Jin-seok, director of the Ulsan Museum of Art.   Professor Lee Yong-woo explained the significance of Lee Ufan's work, saying, "The core of Lee Ufan's aesthetics is to rebel against the existing artistic concepts and pay attention to the relationship, and sense of location between art and the outside world." He explained, "The ‘Relatum’ exists to induce discussion of problems of political, social, and medical discourse that can arise by the juxtaposition of stone next to iron, one natural and the other not and manufactured, the non-industrial and industrial-social next to each other." He then said, "’Relatum’ gives the feeling of a large stone floating on the lawn, and the clouds, sky, and buildings around it are reflected in the mirror," adding, "It is a work that opens a new place by looking at the clouds and sky symbolizing the non-ordinary universe in the mirror on the lawn symbolizing the ordinary."    Afterwards, a conversation was held with Professor Lee Yong-woo and Seo Jin-seok, director of the Ulsan Museum of Art. The discussion was conducted on five topics which could further enhance understanding of the work: ‘the Lee Ufan’s Art and Monoha Movement’, ‘the 1968 Intellectual Revolution’, ‘Monoha and Arte Povera’, ‘Art and Materialism’, and ‘the Reaction to Relatum and Relational Aesthetics.’   Participants had time to share the meaning of the exhibition through explanations and Q&A sessions using various perspectives such as music, religion, and art history. Through lectures and conversations held before the unveiling ceremony of the work, the event ended successfully by once again presenting the goal of Korea University's business school to add artistic sensibility to the academic arena. In the second part, President of KU, Chung Jin-taek, Dean of Business School, Bae Johngseok, and Professor Lee Yong-woo attended the event to unveil the work after watching the video message sent by the artist Lee Ufan. Through the video message, Lee Ufan talked about the meaning of his work saying, "My work is so simple that it can be called bland. I only used a large natural stone and a stainless steel plate grated to the level of a mirror, and a stone on top of it, but I think my work opens a chapter where through this simple encounter and combination the universal glimmer of one moment that we do not get to feel in our everyday lives is captured and becomes common.” Also, artist Lee Ufan said, "Artists cannot stop wars or make food. But in our lives, we see beautiful flowers for a moment, we see cups with glittering sunlight, we drink delicious water, and we feel like we can connect to nature from the bottom of the human body. I think art is inseparable from human life because I think it is the unique character and specialty of art that creates a small opportunity to enrich and reflect on human life by stopping for a moment and reliving that feeling," emphasizing the importance of art.   Lee Ufan, a living history of Korean contemporary art, recently opened a permanent exhibition hall, Lee Ufan Arles, at Otel de Vernon, France. He is a representative artist who led the Mono-ha movement that rejects the reproducibility of images and interprets things as they are, paying attention to the horizontal and equal relationship between the work, the place it is placed, and the audience looking at it, and is loved by many domestic and foreign audiences through the series of sculptures ‘Relatum’.  

2022.05.25 Views 1236

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