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[2018-1 Global CEO Lecture] “Prepare for Your Future, Make a Plan”…Sang-ho Yoo, President of Korea I
2018.04.30 Views 2058 경영대학
[2018-1 Global CEO Lecture]
“Prepare for Your Future, Make a Plan”…Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd.
“Prepare for Your Future, Make a Plan”…Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd.
On April 26th, KUBS had a special lecture by Mr. Sang-ho Yoo, President of Korea Investment & Securities Co., Ltd. It was the 7th lecture of Global CEO lecture series, where Mr. Yoo focused on ‘the youngest CEO for the longest term- My 30 years’ experience in securities business’. Mr. Sang-ho Yoo holds an MBA degree from the Ohio State University, the U.S., before starting his career at Korea Investment & Securities in 1988. He has been promoted and elected a president in 2007, which was the youngest president in the securities business. Mr. Yoo has also been elected as a president for the longest period, serving the 11th consecutive terms.
Mr. Sang-ho Yoo started his lecture by sharing his story back in his early years at Korea Investment & Securities Co., Ltd. Back then Korea Investment & Securities was the second best organization, with a large gap between the best, Daewoo Securities. Daewoo Securities had more than double size of business. He decided to work on his 10 years’ plan. △In his 20s, develop knowledge from books and mentors △In his 30s, improve practical skills, applying the knowledge from his 20s △In his 40s, manage his team/organization and create values based on his knowledge and skills △In his 50s, rely on his prior knowledge and skills.
Mr. Yoo’s goal was to be a CEO. However, it was generally agreed that CEOs in the securities business, the determination of CEO election depends on their years of experience, instead of their performance. That is, once a person started his/her career, it will take over 30 years to be a CEO. “So I thought I should work on my 30 years’ plan,” he added. Mr. Yoo stuck to his plan and ended up elected as a president of Korea Investment & Securities Co., Ltd. Besides, it was 12 years earlier than he planned. “I don’t think anybody is capable of fully achieving their plans. Nevertheless, you will be surprised to see how they turn out comparing people with plans and those without.”
In the securities business, Mr. Sang-ho Yoo is also called as ‘Legendary James’. The nickname is made back in 1992 when he worked in London, selling Korean stocks to the market. It was the time when Korean stock market started to open to overseas buyer/sellers. In consequence, selling stock to international market was the main task they focused on. He added, “It was hard to set the client target since London has a very competitive market with the high cost of living. I made an English name James so that people there can remember me easily. I changed my mobile number starting 007, too”. The thing about stock sales is that there is no clear standard to compare, not refundable, and yet it has significantly large trading unit. Mr. Yoo said “stock sales are way more difficult than sales of tangible products. It is a long-term process; You need to put a large effort, build up credibility, which then you can proceed with the transaction.”
To adjust to the British market, Mr. Sang-ho Yoo adopted a strategy of ‘put yourself in else’s shoes’. He started from thinking what fund managers would be looking for the most. “Because back then South Korea was not a well-known country for most British people. So I thought I need to start by providing information about South Korea,” he added. He collected information and make a brief report on Korea’s legal system, policies, and finance organizations. He provided the information every time he met fund managers and built up a network, which led to successful stock sales. Mr. Yoo said, “differentiation, credibility, patience, and perseverance are the keys to success in securities business”.
To adjust to the British market, Mr. Sang-ho Yoo adopted a strategy of ‘put yourself in else’s shoes’. He started from thinking what fund managers would be looking for the most. “Because back then South Korea was not a well-known country for most British people. So I thought I need to start by providing information about South Korea,” he added. He collected information and make a brief report on Korea’s legal system, policies, and finance organizations. He provided the information every time he met fund managers and built up a network, which led to successful stock sales. Mr. Yoo said, “differentiation, credibility, patience, and perseverance are the keys to success in securities business”.
Mr. Sang-ho Yoo concluded his lecture by explaining who is the right fit for the organization. He stressed ‘PSD (Poor Smart Desire to become rich)’. PSD can be defined as a person who is eager to be rich; eager to achieve a big goal regardless of where (s)he stands. Mr. Yoo added, “In fact, employers do not make decisions based on applicants’ degrees from top universities or outstanding certificates. If you would like to stand out, you need to be able to demonstrate that you have a clear sense of what you would like to achieve.
The Business School’s coming up ‘Global CEO Special Lectures’ will invite △Ki-seok Park, CEO of SIGONG tech (5/3) △ Younghoon Park, Executive Vice President of [GS Homeshopping] (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 coming up ‘Global CEO Special Lectures’ will invite △Ki-seok Park, CEO of SIGONG tech (5/3) △ Younghoon Park, Executive Vice President of [GS Homeshopping] (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).