[Global CEO Talk] Insights from Wonshik Choi of McKinsey & Company

On May 15th, the Korea University Business School hosted an engaging session for Wonshik Choi, Senior Director at McKinsey & Company as a part of the Global CEO Talk held in the Hyundai Motor Hall building, room no. 412. This event provided Global MBA students, undergraduates from the business school, and MIM students with valuable insights into the consulting industry, leadership, and the principles that drive McKinsey's success.

Born and raised in Korea, Wonshik Choi started his professional journey with a degree in mechanical engineering from Princeton University in the United States. His career began in
engineering at a company called Allied Signal, later known as Honeywell, but a serendipitous encounter with consulting during his MBA program changed his trajectory. He fell in love with
consulting for its razor-sharp focus on impact and clear project timelines, propelling him to join McKinsey & Company in 1997 as an associate.

While talking about his experience at Mckinsey, he described his work at McKinsey as deeply fulfilling, emphasizing three levels of satisfaction: job, career, and calling. He explained that a job provides financial satisfaction, a career offers progressive responsibilities and growth, and a calling drives personal growth and societal impact. This framework, inspired by the Japanese
concept of Ikigai, has kept him motivated and committed throughout his career.

Wonshik emphasized the importance of teamwork and project-based learning. He encouraged students to engage in collaborative projects, as these experiences are crucial in developing the skills necessary for a successful consulting career. His reflection on his own career emphasized on the importance of humility and gratitude, noting that his achievements were made possible by the support and opportunities he received along the way.

Furthermore, he gave the students a glimpse into McKinsey’s mission which is to help clients achieve sustainable, substantial improvements in their performance. This mission is grounded in two core principles: delivering significant client impact and fostering a people-centric model that attracts, develops, and retains exceptional talent.

McKinsey’s values include adhering to the highest professional standards, improving client performance significantly, and creating an unrivaled environment for exceptional people. Wonshik stressed the importance of maintaining a flat organizational structure and the obligation to voice differing opinions to ensure the best outcomes for clients.

He also elaborated on McKinsey’s diverse problem-solving methodologies, including hypothesis-led approaches, domain-specific expertise, advanced analytics, design thinking, and engineering-focused solutions. These approaches allow McKinsey to tackle complex challenges effectively and deliver enduring results for clients.

Beyond financial results, this framework considers the long-term performance, customer satisfaction, employee well-being, social and environmental impact, and capability development. McKinsey’s approach ensures that projects deliver substantial and sustainable benefits across multiple dimensions.

The company’s leadership development model focuses on four essentials: living the firm’s values and managing risk, achieving holistic client impact, building a stronger firm, and developing and inspiring a diverse group of colleagues. Wonshik highlighted the importance of continuous learning and mentorship at all levels within the firm.

In addition to his talk, Wonshik prepared a role play for two participants, simulating a scenario between a consultant and a client. He encouraged the attendees to analyze the role play, providing feedback on their observations, identifying effective strategies, and suggesting improvements. This interactive session aimed to enhance the practical understanding of consulting dynamics and decision-making processes.

Wonshik Choi's talk provided profound insights into the consulting industry, leadership, and personal development. His journey from engineering to senior leadership at McKinsey offers invaluable lessons for students and professionals alike. By embracing teamwork, continuous learning, and a calling-driven approach, he has demonstrated how one can make a significant impact on both clients and society.