The Social Value Forum for Spring 2020 held.

▲ Participants of the Social Value Forum for Spring 2020.

The Social Value Forum for Spring 2020 was held at the LG-POSCO Building on June 30 (Tue) hosted by Korea University Business School (hereinbelow KUBS, Dean=Jae Wook Kim), organized by IBRE (Director=Johngseok Bae) and sponsored by SV Committee of SK SUPEX Promotion Council and Happy Narae Co., Ltd.

The Social Value Forum is an event to promote knowledge exchange on the possibility of pursuing social values and specific ways in each field of business administration. The forum was attended by about 60 people who applied in advance, including △Jae Wook Kim, Dean of KUBS, △Johngseok Bae, Director of IBRE, △ Jong-tae Bae, professor of KAIST Business School, while all of the participants wore a mask to prevent the spread of COVID-19.

▲Johngseok Bae, Director of IBRE delivering his opening speech

Johngseok Bae, Director of IBRE, said in his opening speech, "The Social Value Forum is part of the 'KUBS-SK Management Education Innovation Project' aimed at fostering talent who understand and pursue social values. I think the Social Value is in line with the KUBS mission that values community culture.”

▲Jae Wook Kim, Dean of KUBS delivering his congratulatory speech.

Next, Dean Jae Wook Kim delivered a congratulatory speech. "In Korea, efforts for social responsibility and value from corporate have not been very long," he said. "On the other hand, foreign countries have made social movements such as Corporate Social Responsibility (CSR) for a long time, and conducted research activities within the framework of sustainable management," he explained. “To reflect this trend, KUBS introduced a curriculum to foster talent who understand and pursue social values with support from Happy Narae Co., Ltd. which is the Happy Platform for Social Enterprise”, he added.

▲Bae Jong-tae, professor of KAIST Business School giving his lecture

It was followed by a lecture of Jong-tae Bae, professor of KAIST Business School, on the theme of ‘Social Value and Management.’ He explained, “Creating social value at companies is not separate from creating economic value. It can be divided into 1) business-based social performance that provides good products and services, 2) social performance that solves social problems by utilizing corporate resources, 3) national economic contribution, and 4) social contribution.”

In addition, Bae said, "Companies are the ones that can best solve various problems arise with changing of society. Companies indifferent to social issues will find it difficult to continue sustainable management. Therefore, it is important to set the fundamental mission of the company correctly," he said. "Business is not about taking away the value of the other, it is about giving and sharing it with others. The expansion of this concept is the Social Value, and the management based on Social Value is the ‘Social Value Management’.”

After the special lecture, the team that won the grand prize at the "2019 Social Value Research Contest" announced a review of the participation in CSR Case Competition (Milgard Business School Invitational Case Competition On Social Responsibility, University of Washington Tacoma). Ha-won Baek (Business ‘16), who was in charge of the presentation, shared the preparation process and tips for the KUBS competition and the international competition, "We need to broaden our perspective on the problem and approach the essence quickly but also go on a comprehensive way. It is also important to explain and persuade about the background and significance of the topic before delivering the details of the study.”

Meanwhile, the "2020 Social Value Research Contest" received applications in May and 12 teams that passed the document screening are currently conducting research. Winning teams will be selected in November, and prize money will be given. The team wins the grand prize will take the opportunity to participate in the international case analysis competition.