[2021 Summer FMBA Special Lecture] ‘Understanding ESG Management and Implementation Strategy’ – Sam-il PWC Partner Yun Young Chang Sam-il PWC partner Yun Young-Chang   At Korea University Business School (Dean= Johngseok Bae) Finance MBA summer semester’s ‘Special lecture’ - Practices in Finance,’ Sam-il PWC partner Yun Young-Chang was invited as a lecturer and covered the topic of ‘Understanding ESG management and implementation strategy’. The lecture was held both online and offline, strictly following COVID-19 guidelines to prevent infections.   Partner Yun Young Chang defined what ESG management is before dealing with the details of establishing an ESG strategy. While CSR focuses on the relationship between corporate-society by ‘firms voluntarily assuming various social responsibilities’, ESG is focused on ‘the evaluation of a company’s nonfinancial capabilities(environmental, social, governance) for the purpose of the stakeholders’ investment decision’.   Partner Yun introduced the current situation where ESG regulations are being reinforced, citing examples such as the movement to expand various environmental regulations led by the US president Biden, BMW’s demand for eco-friendly energy use from its business contractors, etc. He then emphasized that when implementing an ESG strategy companies should keep in mind ‘how to build∙implement an ESG strategy in accordance with the companies features while minimizing impairment in one’s business competitiveness’. Intel’s ‘RISE Strategy’, Hyundai Motor’s ‘Promotion of Eco-friendly vehicle vision alignment throughout its affiliates’, SK group’s ‘Social value measurement’ were particularly introduced as systematically well formed ESG strategies and implementation plans.   Among the three agendas of ESG management, ‘Environmental’, ‘Social’, ‘Governance’, confrontation toward carbon-neutrality was mainly dealt for the ‘Environmental’ factor during the lecture. Partner Yun introduced carbon neutral goal plans of global firms such as the use of renewable energy, technological development and achievement in economic feasibility through R&D, etc. Then emphasized the need for domestic companies’ strategic responses on carbon neutrality. In addition, human rights management, BoD composition, etc. were the focuses of ‘Social’ and ‘Governance’ factors. Partner Yun stated that it is necessary to prepare evaluation criteria suitable for the situation of Korea rather than to apply global ESG governance evaluation indicators directly.   Korea University Business School FMBA hosts ‘Practices in Finance-Special Lectures’, during the summer semester, invites practical experts from various fields in the financial sector to give special lectures on their field’s current status, prospects, major issues, and cases. It is to provide practical knowledge and convey experience in the financial field. It will be held in the form of a special lecture on individual topics such as ESG, Private Equity, IB, Venture Capital, and FinTech etc.     Article·Photo | Management Support Team

CDTB Colloquium, “Digital transformation is the key to the future of finance”      CDTB Colloquium, hosted by KUBS (Dean=Dr. Bae, Jongseok) Center for Digital Transformation & Business (CDTB; Head=Dr. Baeho Kim and Dr. Byung Cho Kim), was held on Friday, Jun 4th, in LG-POSCO Building SUPEX Hall. CDTB Colloquium is a program that mainly investigates firms’ digital transformation strategies. The center also works to build consensus among KUBS members and to secure active support from related external organizations. In this event, CEO Gwang-yeol Ryu of SGI Seoul Guarantee Insurance was invited as the keynote speaker and gave a lecture on the topic “Changing Environment of Financial Industry and Digital Transformation.” The event was held both online and offline, strictly following COVID-19 guidelines to prevent infections.   Before the start of the lecture, the Dean of Korea University Business School, Jongseok Bae, gave a congratulatory speech. He stated, “Since there is numerous research on the topic of digital transformation, it is important to be aware of what kinds of trials and experiments are taking place in different industries.” He showed his anticipation by saying that “I hope we can expand our understanding through today’s lecture on the financial field.”   CEO Gwang-yeol Ryu began his lecture by explaining the recent performance and the risk factors in the financial industry. “Due to the 2008 Financial Crisis and COVID-19, expansionary monetary policy continued, causing liquidity, household debt, and corporate bonds to increase. Consequently, the number of risk factors increased as well,” he said, pointing out the reality of an unfavorable financial environment. He thereby emphasized that the development of digital technology will change the game in the future.   CEO Ryu continued, “MZ Generation, who put importance on customer experience and prefer online communication, is the new customer base for firms.” “Many BigTech firms – such as Kakao, Toss, and Naver in Korea and Google, Apple, and Facebook in the world – are providing financial services as well. They are starting to take over the market as comprehensive platforms,” he said. As BigTech firms are taking control of FinTech and financial institutions, the financial environment is being centered on BigTech. Furthermore, CEO Ryu introduced the concept of a fast-changing financial environment centered on mobile technology, where AI or blockchain technologies are added to create services such as customer data-based product development. “Legislations in Korea are also starting to reflect the changes in the financial environment by implementing policies such as Financial Regulatory Sandbox and Data Bills,” he added.   Moreover, he explained how digital transformation will take place in the financial industry during the post-COVID-19 era. He further introduced the Marketplace and Open Banking Model based on platform and data sharing technology. “To fully achieve digital transformation, we need to change both the business model and the business organization, based on data-based and demand-oriented hyper-personalization strategy,” he said.   CEO Ryu ended the lecture by briefly explaining his company, SGI Seoul Guarantee Insurance, and its major tasks. He also introduced the company’s digital transformation plans by saying, “SGI Seoul Guarantee Insurance is planning to broaden its business area by utilizing AI and big data in various fields such as household purchase and compensatory damages. Moreover, it will expand its strategic partnership with FinTech and BigTech companies.”   Article | Sangbong Chung (College of Political Science & Economics, Department of PSIR ’17) Photo | Serim Shin (College of Political Science & Economics, Department of Economics ’18)

2021 Spring Semester 4th Career Week, ‘Creating a reason why a company would need me’   Hosted by Korea University Business School (Dean=Dr. Bae, Johngseok) KUBS Career Development Center, the 4th Career Week of 2021 spring semester was held on June 11th (Fri). The Career Week was consisted of three sessions – employment and corporate special lectures and was conducted as a live online-stream format due to COVID-19. Students in various academic years were able to choose the lecture depending on their individual career interests.   Kang Wonjoon, CEO of Linked-in Korea Partner, gave the first special lecture on employment. CEO Kang lectured on how to use a portfolio when getting a job under the theme of "Express your experience with your capabilities". By mentioning the employment trend where occasional and year-round employment became more common than open recruitment, he advised to focus on expressing the connection between the roles he/she played in the experience with the job competencies, rather than only emphasizing the result of one’s experience. He then stressed the importance of △ appropriate length of portfolio △ securing legibility using a flow chart △ securing reality using photos △ emphasizing ability through detailed role writing △ securing credibility using numerical data △ essential entry of contact information.   Referring to the reality that mobile phones took 70 years and Instagram took three months to secure 100 million users, CEO Kang said, "We need to adapt to the reality that pace of changes are getting faster." In addition, he concluded the lecture by saying, "I hope this lecture was an opportunity to expand options in your life beyond your employment capabilities."   Won Miyoung, program manager of Amazon Web Service (hereinbelow AWS), continued the lecture under the theme of "How to leverage Amazon way" in the second session which was consisted of corporate special lectures. Manager Won began her special lecture with an explanation of AWS along with Amazon's work style and culture.   In particular, she introduced ‘Leadership Principles’ which serves as a basic principle in all Amazon workplaces, and the ’Narrative Writing’ method used in business meetings. ‘Narrative Writing’ is a document that summarizes content prepared to be said in the meeting. This document is read before each meeting and a Q&A session is conducted on each page. Referring to an in-house culture that values content rather than format, she emphasized that one can make his or her thoughts clearer and save more time.   At the end of the lecture, the internship program was introduced and several points to think about before applying to Amazon were presented. Manager Won said, "When you ask someone for help, you need to think about what you can receive and what you can give to the other person" and underlined, "You need to have at least one weapon of exchange value."   In the third session, Choi Eunmi, head of the LG Energy Solution HR Team, gave a special lecture on the theme of "Dream Canvas." Team leader Choi said, "Deciding what position to apply for is as important as choosing a company when looking for a job" and explained, "You have to select the position that suits you well, starting off on the right foot."   She also introduced methods of selecting a position as well as a company. In particular, she emphasized that the basis of one’s choice should be on oneself, not on others’ assessment. "Having the idea of dating a company, you should choose a company that fits your values and areas of interest and focus on it," she added.   At the conclusion of the lecture, she shared ways of how to appeal to human resource managers in letters of self-introduction and interviews. She then stressed the importance of setting clear goals, saying, "’Spec’ can be meaningful only if it is connected with clearly set desired positions."   Covered by | Park Hyejung (College of Liberal Arts/Department of Korean Language and Literature ‘19)

The high-speed train to a successful startup, 2021 Startup Express Summer Season held      KUBS(Dean=Bae Johngseok) Startup Station(Head=Shin Hojung)’s 11th teams were selected. 2021 Startup Express Summer Season, held on June 4th (Fri), was conducted online yet filled various ideas of pre-entrepreneurs with passion and entrepreneur spirit.   Startup Express is hosted by KUBS Startup Station, supervised by Seung Myeong Ho Entrepreneurship education center(Head = Dongseop Lee) and sponsored by Korea University Management Research Association and the Social Value Committee of SK SUPEX Pursuit Council. It is a startup competition in which participants propose creative business items based on entrepreneurship and innovation.   △ Startup Station head Shin Hojung △Director of Startup Station Dongseop Lee △ Director of Startup Station Jungbien Moon △ Startup Station professor Jaiho Chung △ Startup Station professor Jin Gyu Park △Director of Iljin Global R&D Center Lee Seung Pyo △Head of Hankook Ilbo new public enterprise planning Lee Yong Hyun △Donghak enterprise online service team leader Hwang Joon Hyun △Happynarae Social Venture team leader Kim Jin Young △MCM Head of Corporate Development Shin Myeong Chul participated as the jury.   Director of Startup Station Dongseop Lee introduced successful companies that have experienced the Startup station’s startup supporting program and said, “We hope the world becomes a better place with your innovative ideas and passionate drive.”   Associate research director of KUBS Song Oh Yoon welcomed the participants by saying, “Startup Station has fostered many exceptional startups with various programs and is the fastest train among Korea’s university-level startup supporting institutes.” “We hope this day will be a meaningful milestone in achieving your dreams. We will support your aspirations until the end.”   A total of twelve teams that passed prior evaluation introduced their business items. △ Monthly fruit delivery service for single-person households (Fruiting) △Data based customized clothing manufacturing solution (MCMC) △Region based social discovery application for college students (Yeonkoring) △Audio based music recommendation platform (Nisoo) △Production and sale of healthcare products for women (BiGi) △Community based Survey platform to aid college students’ assignments (Pumasi) △Location based social networking service (addy) △Investment information platform for individual investors (Hanul) △One stop home gardening platform(Greenery) △Delivery and collection of eco-friendly tableware (Covering) △Production and delivery of vegetarian meal kits produced with social farms(Hambat Flower) △Clothing rental service for soldiers that use terminal lockers (Weak-hearted company) were each given five minutes to present and five minutes for Q&A.   The jury evaluated the teams based on △creativity △marketability △validity of the business △level of research and analysis. Eight teams that were chosen to board the Startup Express were △Covering (Seung Myung-Ho Entrepreneurship award) △ Weak-hearted company (Iljin startup incubator award) △ Hambat Flower (SK Social Value award) △ Yeonkoring △ Fruiting △ Greenery △ BiGi △ Hanul (participation awards).   Teams awarded with △ Seung Myung-Ho Entrepreneurship award △ Iljin startup incubator award △SK Social Value award are rewarded with three million KRW for operation funds, and eight teams including △participation award winners can move into the Startup Station. They will receive systematic enterprise education and support as well as continuous consultation and support form mentors composed of senior entrepreneurs, industry experts and venture capitalists.   Iljin startup incubator award winner Weak-hearted company said, “We think we received this award because many agreed to the problem that our team identified. We will do our best to solve this problem.”   Startup Station head Shin Hojung concluded the event by encouraging the teams. “If there is a problem that you wish to solve, make a constant effort. Startup Station will do its best to support your passion.”   Korea University Business School’s Startup Institute has fostered 80 companies until today and total enterprise value of all companies that have moved in is approximately 100 billion KRW, making the Startup Institute a successful university startup supporting institute.   Reporter | Park Hye Jung (College of Liberal Arts, Korean Language and Literature ‘19) Photographer | KUBS Startup Station

2021-1 Social Value Forum for Innovative Talents   ‘2021-1 Social Value Forum’ took place on June 11th (Fri), held by KUBS(Dean= Johngseok Bae), hosted by KU Institute of Business Research and Education (hereinafter = IBRE/Head= Jungbien Moon), and sponsored by SK SUPEX SV Committee and Happynarae Co., Ltd.   Social Value Forum is an event for knowledge exchange on the possibility and specific methods of pursuing social values in each field of business administration. The forum was held fully online to prevent the spread of COVID-19. △KUBS Dean Johngseok Bae, △IBRE Head Jungbien Moon, △the lecturer, Hanyang University Professor Hyunsang Shin, and about 60 people attended the event.    In the opening remarks, IBRE Director Jungbien Moon said, “The Business School is making a lot of effort to educte future global business leaders,” and congratulated the participants for being selected to take part in sustainable business management research guidance program. Dean Johngseok Bae said, “The business environment itself is demanding a paradigm that is very different from the past … I hope you who have attended Social Value Forum become talents to innovate society and change the world.”   Professor Hyunsang Shin of Hanyang University Business School gave a lecture on ‘Sincerity and Impact’. He introduced the new business environment where corporate social · environmental responsibilities are becoming more important with the rise of the MZ generation. He said, “Consumers are aware of the fact that they can make a change in companies.” In addition, he mentioned that “different from the traditional product or customer centered business operations, it is becoming more important to take all customers in the broadest sense, that is all stakeholders, into consideration.” He emphasized “The pursuit of CSR(Corporate Social Responsibility) through non-market strategies can also have a positive long-term impact on corporate value.” At the end of the lecture, Professor Shin presented △social values △partnership △impact as key factors for securing corporate sincerity and emphasized the need for management based on vision and values.   After the lecture, the winning team of ‘2020 Social Value Research Contest’ presented the preparation process and reviews for 2021 international CSR case analysis competition (2021 Annual Milgard Invitational Undergraduate Case Competition on Social Responsibility, University of Washington Tacoma). Sangyoon Kim (Business ’19), who served as the team leader, said, “What we learned in class about financial and social value evaluation was very helpful.” He revealed, “We put a lot of effort, such as following advice of professors and watching the presentation of the last winners, and even when we faced with unexpected difficulties, us team members encouraged each other and was able to win through.”   Lastly, the social value research contest schedule and research advisors of each team was introduced. 2021 Social Value Research Contest will be held in conjunction with the ‘Social Value Project’ course, which will be opened in the second semester. Currently, 14 teams are conducting research with their academic advisors, and the winning team will be selected by the end of November through screening process. The 14 selected teams will be receiving project fund, and future winning team will receive some amount of prize money. The team that wins the grand prize will be given qualifications to participate in MICCSR case analysis competition hosted by Washington University(Tacoma).   Coverage | Sangbong Jung (College of Political Science and Economics, Department of Political Science and Diplomacy ’17)

‘2021 Spring KUBS Regular Campus Tour and Meeting Day for High School Students’ Held Organized by Korea University Business School (hereinbelow KUBS) (Dean= Dr. Bae, Johngseok), the "2021 Spring KUBS Regular Campus Tour and Meeting Day for High School Students (hereinbelow campus tour)” was held on last May 22nd (Sat). The event was held using Zoom and was hosted by the KUBS Management Support Team and the KUBS student ambassador KUBE (hereinbelow KUBE). 155 high school students who came from across the whole country attended the campus tour.     The regular campus tour was arranged in the order of △ introduction of KUBS △introduction of seven majors and three tracks in business administration △online live campus tour △mentoring lecture △Q&A session, providing high school students with an opportunity to increase their interest and understanding of KUBS and business administration. Unlike the 2020 online regular campus tour, the mentoring lecture was able to introduce know-hows of managing the high school record as well as studying mathematics. In order to vividly introduce the school as much as possible even in the online environment, a ‘live campus tour’ was held by KUBE where they were well received by high school students while walking around the campus in real time.   Ji Joon-hee(Business ‘17), the 13th president of KUBE, took in charge of the entire event and said “Although it was regretful to have the event online, it was pleasant to be able to meet high school students across the country” and added, “I would like to thank all the students who actively participated in the event and wish that we can meet again in the offline environment”.   Students who participated in the regular campus tour evaluated through a survey satisfaction by commenting “It was really joyful to be able to look at the beautiful campus of Korea University as a student living in a rural area”, and also said “The communication was so smooth throughout the event, including the live campus tour, that there was no regret of not being able to actually be at the campus”. In addition, all the students who participated in the survey answered that they were “willing to recommend the program to their acquaintances, confirming that they were highly satisfied with the event.   Meanwhile, KUBS is holding annual events for teenagers to help high school students set their careers and plan their studies. The next event will be the ‘11th High School Students Mentoring Day which is planned to be held on July 31st. It will provide special lectures on business administration by professors in KUBS, training sessions for small group management, and also mentoring time by enrolled students.   Article·Photo | Korea University Business School Management Support Team