Mr. Kwang-Chul Choi started the lecture by throwing a question to the audience. “Why do you study? To get a ‘good’ job? To make money? What do you need money for? Or if you like, What would you like to do with your money?”. “These are the very questions you need to ask yourself,” he added. “Because the market is changing. In the ‘Market 2.0’, they put emphasis on function and emotion. Then it led to ‘Market 3.0’ which focuses on embracing a broad range of consumers, even non-consumers. The network in the 4^th industrial revolution has connectedness which potentially expands target consumers.” He continued “In other words, the social value became important in the market, sharing and understanding concerns of the members of society has come to the key role of business. Therefore, it is not about increasing profits now, consumers pay attention to a business that makes a significant contribution to the society.”

Consequently, there has been movements in the management of corporations that they put more value on social responsibilities. Mr. Kwang-Chul Choi then briefly introduced one of business management strategies, ‘Double Bottom Line (DBL)’. DBL refers to a method of assessing both economic and social values on the operation of business. He explained, “it is called double bottom line because the business doubled up their assessment, whereas earlier on social and economic values were considered as two independent factors. To set up a business model, we need to consider steps from identification of social issues to coming up with resolutions.”

To identify what issues have been raised in the society, we need to first consider the needs of society. Mr. Kwang-Chul Choi suggested few examples including △information’s creation, application, distribution and protection △global cooperation on politics and economics △population change and co-living △practice of economy and finance and regulations △natural resource management. In addition, the movement in education is necessary to realize social values. Mr. Kwang-Chul Choi pointed out 5Ps: Purpose (mission), People (teaching staffs and students), Place (Globalized), Process (acquisition of knowledge), and Platform (campus). “Existing education system does not meet the change in society; education has to go beyond the delivery of knowledge. Education has to be conducted with clear sense of purpose, and something that continues outside campus.”