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[2018-1 Global CEO Lecture] “Look Ahead into the Future, Be Prepared” … Kenneth Kyung-Soo Park, CEO
2018.05.25 Views 2421 경영대학
[2018-1 Global CEO Lecture] “Look Ahead into the Future, Be Prepared”
… Kenneth Kyung-Soo Park, CEO of PSK Inc.
… Kenneth Kyung-Soo Park, CEO of PSK Inc.
On 24th of May, the Business School invited Mr. Kenneth Kyung-Soo Park, CEO of PSK at SUPEX Hall, LG-POSCO Building for the ‘Global CEO Lecture’ Series. He was the 11th guest lecturer invited for the lecture series, where he focused on ‘The 4th Industrial Revolution and Platform Business’. Mr. Park is one of our proud alumni (Business ‘71) who established PSK Inc. in 1990. He is one of the most successful CEO in the world, the semiconductor company now achieved exceptional annual sales of 270 billion.
How this liberal arts student started his career in semiconductor industry was his first job at the large company. He was in charge of a project in cooperation with semiconductor raw material suppliers in the U.S. Mr. Park added “I was lucky to be able to work with semiconductor business. I thought one day the industry will grow to one of the major industry in the near future. Since I worked with people in the industry, and I received a lot of support when I started my business.”
With a collaboration of a semiconductor equipment company, PSC in Japan, he established his company PSK. His initial goal was to adapt semiconductor equipment to the Korean market. What the company’s R&D department focused on was ‘dry strip’. Dry strip is also referred to as ‘asher’ equipment, which disposes of residue in the production process of semiconductor. Mr. Park explained, “Initially we had difficulties but now the company has grown to the largest company in the world market. It is a very remarkable achievement given that the company is the 2nd generation company in the industry.”
With a collaboration of a semiconductor equipment company, PSC in Japan, he established his company PSK. His initial goal was to adapt semiconductor equipment to the Korean market. What the company’s R&D department focused on was ‘dry strip’. Dry strip is also referred to as ‘asher’ equipment, which disposes of residue in the production process of semiconductor. Mr. Park explained, “Initially we had difficulties but now the company has grown to the largest company in the world market. It is a very remarkable achievement given that the company is the 2nd generation company in the industry.”
Mr. Kenneth Park then discussed the changes in the 4th Industrial Revolution. There will be more emphasis on AI, IT, Big Data in the new area. “A great example would be ‘Rap of China’, the Chinese TV show recently used AI in the committee selection process. You can see the fact that AI now substitutes decision-making process without human engagement.” He predicts that each and every products and service will be connected in a network, as in IoT. And to achieve that, further innovation of semiconductor technology is crucial.
He also pointed out the importance of platform. The platform he was referring to is a group of people sharing same language and rules. “One of the great examples of the platform can be Amazon.com in the U.S. Initially it was a book sales company, but now they developed a unique platform of selling a range of products including electrical appliances, daily supplies, electric books.” PSK Inc. is working on platform business as well. Mr. Park explained “we developed SBMS, data management system which I expect would be a foundation for a single platform in the data technology society. The platform makes it possible to maintain the quality product, to boost customer loyalty.”
He also pointed out the importance of platform. The platform he was referring to is a group of people sharing same language and rules. “One of the great examples of the platform can be Amazon.com in the U.S. Initially it was a book sales company, but now they developed a unique platform of selling a range of products including electrical appliances, daily supplies, electric books.” PSK Inc. is working on platform business as well. Mr. Park explained “we developed SBMS, data management system which I expect would be a foundation for a single platform in the data technology society. The platform makes it possible to maintain the quality product, to boost customer loyalty.”
In conclusion of his lecture, Mr. Park advised the audience to prepare for the rapid change. “The semiconductor industry has now grown to a huge volume of 40 billion dollars. Nevertheless, PSK Inc. takes only 1% of the market, 4 billion dollars. That’s because South Korea fails to demonstrate the strength in basic science. South Korea failed to take the lead in the semiconductor industry.” He concluded, “it is therefore necessary to look ahead into the future, and be prepared for the big change.”
With positive reviews so far, the Business School is expecting the final lecture of ‘Global CEO Lecture series’ by △ Young-Sik Kim, President of PwC Korea (5/31).
With positive reviews so far, the Business School is expecting the final lecture of ‘Global CEO Lecture series’ by △ Young-Sik Kim, President of PwC Korea (5/31).