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[Spring 2018 Global CEO Special Lecture Series]
Dong-Ki Shin, Vice President of ELAND Group… "Embrace Change"
Dong-Ki Shin, Vice President of ELAND Group… "Embrace Change"
On March 15, the Business School commenced the Spring 2018 series of ‘Global CEO Special Lectures’, with its first guest Mr. Dong-Ki Shin, Vice President of E-Land Group. A total of 220 business students attended the special lecture held at Supex Hall, LG-POSCO Building. A former president of KUBS KMBA Alumni Association, Mr. Shin worked more than 40 years in the finance industry including Global Investment Bank and Goldman Sachs. He is an expert in the area who sold major business units and reorganized the financial and business structure to prepare for the crisis when he was a financial control officer at E-Land Group.
The topic of the lecture was ‘Changes in Global Finance and Corporations- My 40 years’ Experience at Investment Bank’. Shin started the lecture by citing a poem - ‘there is no point fighting on the tip of a snail’s horn.’, ‘time flies like a flash of flints’ –always be humble.
" It has been 5,000 years since the invention of the text, 500 years since the invention of the type, 50 years since the computers. However, the changes we have been through the past 5 years are probably the most remarkable – the smartphones!” said Mr. Shin. He emphasized, “Who knows what we will face in coming 5 years? Technology and innovation will continue to be unstoppable.”
“With regard to the income of Korea, the economic development over the past 50 years made it possible to achieve 300 times higher income, from $ 100 to $ 30,000. We are now one of the world's 10 largest exporting countries, with its grown size of the market from $ 100 million to $ 500 billion.” Vice President Dong-Ki Shin stressed that “it is outstanding that we made such achievement during the world economy’s phase of high growth, however, it is time that we need to think and prepare for the current phase of the low growth economy, especially in the era of 4th Industrial Revolution.
Mr. Shin emphasized, “We need to be able to look into the future, and always be prepared.” “If you look back, world economy hit by the crisis in every 10 years - △ The 2nd Oil Crisis, 1978, △ Black Monday, 1988, the U.S., △ The Asian Financial Crisis, 1998(97), △ Subprime Mortgage Crisis, 2008.
Mr. Shin also pointed out, “if you think about it, most successful startups these days – Uber, Airbnb, Alipay – they would not even be able to start their business if they started in Korea. Because in fact, 57 out of 100 they are illegal here.” “Businesses should be capable of innovation in the new digital era learning from their past success.” Shin also shared his experience as an example of how E-Land Group overcome the organizational crisis in the past.
In addition, Vice President Dong-Ki Shin moved on to ‘Trumpnomics’. Trumpnomics refers to the United States’ America-First policy being applied to their economic policy. Key examples can be their $1 trillion investment in infrastructure and revision on their trade relations. Mr. Shin pointed out that “the implementation of Trumpnomics might increase America’s economic growth. On the other hand, its impact on economies in Mexico, Japan, and South Korea can be tough.” “We need to be prepared for the economic crisis. If you think about it, Google took over YouTube, and Samsung also prepare to face the crisis; they sold their chemical and security units. Look carefully at what is happening in the economy, and start from what we can do and think how to be prepared.” Mr. Shin advised.
Vice President Dong-Ki Shin concluded his special lecture by suggesting a phrase “Control yourself. Otherwise, you will be controlled”.
One of the audience, Min-Ji Kim (Business ‘14) said “It was a very inspiring lecture, made me look back on myself. I feel I should keep in mind what he said, looking beyond and staying out of comfort zone.”
The Business School’s Spring 2018 series of ‘Global CEO Special Lectures’ are designed to invite global CEOs to share their thoughts and experiences. Coming up lectures will invite △ Jung-Ho Kim, CEO of Bear Better Company (3/22) △ Seon-Yong Lee, CEO of Bear Tree Park △ Kwang-Chul Choi, Chair of SK Group SUPEX Committee Social Contribution Department (4/5) △ Christopher Wood, CEO of ELCA Korea (4/12) △ Jonggu Choi, Chairman of the Financial Services Commissions (4/19) △ 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).
The Business School’s Spring 2018 series of ‘Global CEO Special Lectures’ are designed to invite global CEOs to share their thoughts and experiences. Coming up lectures will invite △ Jung-Ho Kim, CEO of Bear Better Company (3/22) △ Seon-Yong Lee, CEO of Bear Tree Park △ Kwang-Chul Choi, Chair of SK Group SUPEX Committee Social Contribution Department (4/5) △ Christopher Wood, CEO of ELCA Korea (4/12) △ Jonggu Choi, Chairman of the Financial Services Commissions (4/19) △ 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).