KUBS Hosts the 1^st Career Week of 2021: Global Vendor Financing and Working in a Global Company

The 1^st Career Week of 2021, hosted by Korea University Business School (Dean= Bae, Johngseok) and organized by the KUBS Career Development Center, was held on Thursday, March 19^th. The event was scheduled into two sessions: career lectures, which aimed to help students find their career paths, and special lectures on enterprises. This year’s Career Week was held online due to Covid-19.

Special lectures on enterprises, which provided information on various industries and departments, were given by personnel currently working in diverse business sectors. Jung-Nam Kim, the Country Business Leader (CBL) of DLL, a subsidiary of Netherland’s Rabobank Group, gave a speech on “Global Vendor Financing and Working in a Global Company.” DDL is a finance company that provides services based on global vendor finance.

CBL Jung-Nam Kim explained about global vendor financing based on DDL. Financing is the process of providing capital to businesses, consumers, and investors, which operates based on three major types: equity financing, debt financing, and a mix of both. Global vendor financing companies offer financing expertise to different companies by signing global partnership contracts with vendors or client companies.

Unlike traditional banking, where a two-way transaction is occurred between a bank and a customer, global vendor financing is conducted by three different stakeholders: vendor, dealer, and customer. CBL Jung-Nam Kim stated, “Our company professionally deals with diverse fields including IT, construction equipment, agriculture, and health care.” He emphasized that since vendor financing companies manage solutions such as product leasing and mortgage loan, it requires a high level of profession just like a vendor company. He continued his explanation by showing an organization chart of a financing company as well as the flow chart of financing products such as product lease.

In the second part of the lecture, CBL Jung-Nam Kim gave a speech on “Working in a Global Company,” dealing with the flextime system and meritocracy. He emphasized that communication skills, active participation, and teamwork are the key to working in a global company. Moreover, he advised that it is one good option to branch out into a global company after building work experiences in domestic companies.

Following, he introduced “Seven Principles of Reporting,” a book dealing with strategies of business reporting such as speaking to the point. Later, during the Q&A session, CBL Jung-Nam Kim gave an answer to the question on how to develop communication skills, saying that “Reading books and taking business courses are indeed helpful, but the best way is to learn through experience by participating in a variety of activities, such as internship programs.” He ended the lecture by advising that “You should come up with your own personal story and thereby appeal to the company how much you are suitable to the hiring position..”