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- Career Talk with FMBA Alum: Derek Laan
- (Right, Derek Laan) At the beginning of October, SKK GSB’s Career Development Center (CDC) organized a Career Talk with Derek Laan (Full-Time MBA, 2015). Derek is originally from the US, and has lived in Korea for over 13 years including three years working as an English teacher. He decided to study at SKK GSB to develop his potential for a business career. His work experience in Korea covers a range of companies from conglomerates to startups. He stressed the need to build Korean language skills, not just for work proficiency, but for networking with Korean colleagues. Regarding networking, he also advised against being afraid to make new friends. The CDC is dedicated to connecting students and alumni for networking and opportunities. It therefore organizes regular events called "Career Talk." In these sessions, alumni share their experiences at SKK GSB, and explain the paths they then followed.
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- 작성일 2022-11-07
- 조회수 9720
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- [Maeil Business News] No Country for Free Pension
- Professor Youngju Nielsen (Faculty Chair of AI MBA, Associate Professor of Finance) has written a column about the stock market on MK News (Maekyung Economy). The year 2022 has been tough for global financial markets. As a result, many of the world's public pension funds have recorded varying losses. Korea's National Pension Service, which concerns all citizens, is no exception. In fact, exceptions in this market situation should rather question the method of fund management. Inevitably, by the end of the year, more articles will raise the tremendous fear that people's retirement funds will disappear. Unquestionably, the National Pension Service should continue to learn more from the market situation this year, and better manage the fund. However, it is unfair to criticize the National Pension based on this year’s returns. Instead, in order to create a win-win pension, the nation should apply what has been learned this year to organize a better management system in the future. In this era of centenarians, many people are concerned about their retirement. Then, which country guarantees the best retirement plan, and what system makes that possible? According to the 2022 Global Retirement Index report by French investment bank Natixis, Norway has the best-secured retirement plan. Norway, like Korea and other advanced countries, has a triple-layer pension structure consisting of the national pension, retirement pensions, and private pensions. However, the details are somewhat different from Korea's. The Norwegian pension aims to ensure no difference in income and living standards before and after retirement. Generally, the total pension is comprised about 60% from the pre-retirement income, 40% from the national pension, and 20% from retirement pension. In addition, since the post-retirement tax rate is much lower than that before retirement, the difference in disposable income after tax is negligible. On the other hand, after retirement, consumption tends to decreases with age, allowing retirees to feel no difference in their quality of life. In Norway, seniors over the age of 66 can receive national pension, but people can apply in advance as early as 62 years old, and payments vary depending on the duration and amount of contributions, as in Korea. The amount can also vary depending on pension points that take into account other criteria. Pension points’ criteria include individual reasons such as spouse’s income, disability, industrial accidents, childcare duties, and unpaid community service. If someone pays an amount worth more than five years of the Norwegian national pension, then that person becomes eligible for pension points. So what is the minimum amount one can receive under the Norwegian pension system? The Norwegian system has its own philosophy in pension calculation. Every year, three parties—the government, unions and corporations—agree on a value called G, which represents the minimum annual allowance per person. Yes, this is allowance, not cost of living. G in 2022 is 111,477 krone, equivalent to 15 million Korean won under the October exchange rate. 2G, about 30 million Korean won, is the minimum annual pension in Norway. This is the basic thinking, though there are many particular rules. The maximum annual pension can be 7.1G, which is a little over 100 million Korean won based on the current exchange rate. Of course this is under the extreme condition that the recipient has paid into the national pension for 40 years from the age of 13. The next question can consider how much one should pay monthly into the Norwegian national pension. Salaried workers pay 8% of their salary, while their employer pays 14.1% if the company is located in the capital, Oslo. The company’s share changes depending on location. In Oslo, the total pension payment is 22.1%, which is by no means small. Even in one of the richest countries with enormous natural resources such as petroleum reserves, and with the world's most exemplary public fund management system, there is no free retirement plan. Original article in Korean: https://www.mk.co.kr/opinion/contributors/view/2022/10/968084/
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- 작성일 2022-11-03
- 조회수 9140
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- Homecoming 2022 is canceled
- SKK GSB hopes all SKK GSB community and their loved ones are safe and in good health. Because of the catastrophic incident in Itaewon at the weekend, the government has announced a period of national mourning till November 5th. Following the government’s guidelines, and out of respect for the victims and their families, SKK GSB has canceled the Homecoming 2022 scheduled for Monday, October 31, 2022. It is regrettable that we have had to cancel Homecoming 2022, where we have all longed to catch up. However, for now, let us take some time to consider the victims and their families, and to hope for a speedy recovery for the injured.
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- 작성일 2022-10-31
- 조회수 11712
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- Meet our New SKK GSB PR Committee members
- Meet the new SKK GSB PR Committee! Mr. Jawahirul Mahbubi, (Full-Time MBA, 2023), and Ms. Samantha Marchner and Ms. Supisara Kitpipit (both Full-Time MBA, 2024) have joined the PR Committee, and are eager to show the world the remarkable events and student lifestyles at SKK GSB. (From left, Ms. Marchner, Mr. Mahbubi, and Ms. Kitpipit.) Starting from the left, Samantha Marchner is a current SKK GSB MBA student, from Texas, USA. Her expertise is in the medical industry, where she has two years’ experience as a surgical technologist, and was in charge of creating new and innovative content for her hospital. This fueled her passion for marketing, which led her to create content for over a decade, attracting over 1,000 followers. Through her MBA program, Samantha aims to emerge as a global leader in the medical field. Her immediate goal now is to showcase the daily life of an SKK GSB student by creating interesting content for international outreach. Next, Jawahirul Mahbubi, also known as Java, is a passionate digital marketing specialist who enjoys making engaging content. During his past year’s experience, the PR Committee gave him space to be creative, and he developed a strong network with students, alumni, and faculty to complement the content creation process. He also managed a consulting project to advise on the school's overall digital marketing strategy. Finally, Supisara Kitpipit, on the right, is a marketer from Thailand. She joined the Full-Time MBA program with 4 years’ work experience. Her specialty is in foreign markets, particularly in Southeast Asia, and she has experience running offline events and online social media platforms. She says, “Thank you for this wonderful opportunity: I am excited and proud to participate in the PR Committee. I want to introduce the SKK GSB community to the world using my experience in design and marketing.” Please keep an eye out for the PR team’s publications and events this year. Once again, SKK GSB welcomes our new PR Committee members.
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- 작성일 2022-10-28
- 조회수 8055
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- [Korea Economic Daily] SKK GSB, an opportunity to gain new perspectives, growth and network
- SKK GSB Professional MBA alumnus Mr. Insub Yeo, who is specialized in the healthcare industry for over 15 years, shared his experiences at SKK GSB. He highlighted gaining new perspectives, growth, and network. Read the full interview below: Q1. First of all, please introduce yourself briefly. Hello, I am Insub Yeo, a student in the 11th cohort of SKK GSB's Professional MBA. I currently work at Medtronic Korea, a global healthcare company, leading the Market Development and Marketing Team. Our main tasks are discovering niche markets and creating new business plans and strategies for sustainable growth. Being in charge of a team that does a job that can be a catalyst for the company's long-term change is a huge responsibility, but it's also rewarding at the same time. Q2. What made you decide to study for an MBA? The biggest reason was that I wanted to become a business expert with expertise that was difficult to harness through experience alone. During my 15-year career in the healthcare industry, I have been recognized for outstanding work, and have received numerous in-house awards. I am proud that I have accumulated insight and expertise in the market on my own through various practical experiences in sales and marketing. Nevertheless, I felt there was a limit to experience alone. I wanted to make new solutions by understanding my experiences more clearly and acquiring professional management knowledge. Another reason was that my goal was to prepare a career as a global leader. I had planned to work at the Asia Pacific headquarters, and to take the MBA course to become more competitive in the global environment. Although it has changed a bit due to various circumstances, such as the pandemic, I am still preparing to become a global leader who can lead a team anywhere in the world. I therefore chose SKK GSB because I could study an MBA in a global environment. Q3. Has what you are learning on the MBA helped you in practice? Please share your experience. The SKK GSB Professional MBA program consists of three major areas that must be well understood at the executive level: finance, management, and marketing. I led the marketing team, and focused on management and marketing courses. Because the teaching method is mainly through case studies, I found business applications naturally. The most memorable class was the Human Resources Management course in Gangneung. This class took the form of a three-day residency. This was my first face-to-face class, as I'd enrolled during the height of the pandemic, and it was also fun to hang out with the professor and classmates. Over a few days, I gained a lot of realization by examining human resources and operating cases of other world-class companies from the perspective of human resources and management, away from the sales and marketing perspective I was familiar with. At the leadership level, there is a tendency to focus instead on performance. I felt that the alignment process that puts organizational goals and personal growth on the same line, that is, the alignment of dreams, is essential. After my residency, I applied alignment with my team, strengthening our teamwork. Q4. What is the most difficult part of doing an MBA? Setting priorities and keeping them seemed the most difficult—to catch all three rabbits from work, family, and the MBA. When I started my MBA, the company's large-scale organizational change made me take on a broader team of business areas. My precious child was also born, and I didn't have much time to spare. Since the MBA program involves high-intensity study, there were indeed times when I felt overwhelmed. However, while studying on the program, I was satisfied that I was developing together in terms of work and abilities. In particular, it was an opportunity for me to find new stimulation, growth and motivation, thanks to my MBA friends who demonstrated powerful teamwork all along. Q5. What advice would you give to students beginning at SKK GSB or to those who are considering applying? If you dream of becoming an expert in your field, or want to become a world leader, I highly recommend considering SKK GSB. The school has ranked first in Korea in the Financial Times (FT) MBA rankings for 11 consecutive years, and has a globally recognized curriculum. Not only that, but you will be able to develop further through the network of alumni who have motives brought from various backgrounds. Related article: Korea Economic Daily on October 13 https://www.hankyung.com/society/article/2022101215301
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- 작성일 2022-10-21
- 조회수 8673
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- [Korea Economic Daily] Digital transformation (DX) management grafting and data analysis education at SKK GSB
- Digital transformation (DX) management grafting and data analysis education can find the beginning of the beginning. Sungkyunkwan University Graduate School of Business (SKK GSB, Dean Eric Chuan Fong Shih) is well-reputed for establishing and providing future-oriented education in line with changes in management trends and on-site demands. The Business Analytics MBA and AI MBA programs, which produced their first graduates this year, are examples of such education. As Dean Eric Shih says, “We are constantly striving to nurture global leaders who are ready in the era of fast-paced digital transformation. Our graduates will work as a leader who provides insight in various fields.” SKK GSB Full-time MBA students may specialize by choosing the Business Analytics track. Indonesian alumnus Wonwoo Jawahirul Mabubi, after completing this track, reported, “It is beneficial to learn how to apply data analysis to business overall.” He added that in particular he could develop a sense of practicality by putting the in-depth knowledge learned in the Business Analytics track into practice in an industry–university cooperative project. SKK GSB operates such practical business projects in most courses. SKK GSB has six master's degree programs: five master's in business administration (MBA), and one master's of management studies (MMS). In detail, these are: - Full-Time MBA (1 year 6 months, weekdays) - Professional MBA (2 years, evenings) - Indiana Kelley-SKK GSB Executive MBA (1 year 6 months, weekends) - Business Analytics MBA (2 years, weekends - AI MBA (2 years, weekends), - MMS (France EDHEC double degree course, 2 years, weekdays) The Full-time MBA is an eminent global MBA program in which more than 50% of first-year students and about 70% of faculty are from overseas. In addition to business analytics, there are three other specialized tracks in each field: finance, marketing, and management. In addition, students can pursue a dual degree at Indiana University's Kelley School of Business (hereafter IU Kelley) or France's EDHEC Business School. The Professional MBA is a two-year night course for office workers who want to combine work and study. After consolidating the basics of each field in the first year, students select specialized subjects and complete courses intensively in the second year. In addition, the iU Kelley double degree track offers online MS courses and local weekly MBA courses. This is popular because students can attend classes while working, so admission opens twice a year. The Indiana Kelley-SKK GSB Executive MBA is a course jointly operated by iU Kelley and SKK GSB. Classes are also conducted half-and-half by each school, and graduates obtain MBA degrees from iU Kelley and SKK GSB simultaneously. This curriculum is ideal for senior managers with expertise in various fields to develop their prospects by quickly improving overall management understanding and insight. The Business Analytics MBA simultaneously develops considerable data analysis ability and business application sense. It operates a systematic curriculum from basics to application, and is popular with office workers who have competitiveness in related fields and who aim for career development. The Master in Management Studies (MMS) program is a two-year master's degree in business administration jointly operated by SKK GSB, EDHEC Business School in France, and Haas School in UC Berkeley. Graduates acquire MS (Master of Business Administration) degrees from SKK GSB and EDHEC Business School. The AI MBA nurtures skilled students with comprehensive management knowledge and a broad understanding of AI and related technologies that companies need most. Professors from Sungkyunkwan University's Department of Software Studies, Statistics, and Mathematics, along with data experts from the corporate field conduct the course together. Students on this program can study big data and business strategy at the same time. SKK GSB is currently recruiting new students for the 2023 academic year for three programs: the Full-Time MBA, Professional MBA, and Indiana Kelley-SKK GSB Executive MBA. Recruitment procedures for the Business Analytics MBA, Master in Management Studies, and AI MBA will be announced at the end of the year. Each course's admission schedule and detailed program information can be found on the SKK GSB website (gsb.skku.edu). Related article: Korea Economic Daily on October 13 https://www.hankyung.com/society/article/2022101215531
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- 작성일 2022-10-21
- 조회수 7631
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- Career Talk with FMBA Alumnus: Johannes Nanz
- (On the right, Johannes Nanz) On September 30, SKK GSB held a Career Talk with Johannes Nanz (Full-Time MBA, 2015). Originally from Germany, Johannes had been in the legal profession before his MBA. During his MBA studies, he developed solid business knowledge and a strong network in Korea. Now he works at LG Electronics as a Global HR specialist. In our Career Talk, Johannes shared job-hunting tips and insights on HR trends. While stressing the importance of Korean language skills, he also highlighted making oneself marketable. He advised making a routine of job applications to lessen stress in the job search journey. Regarding HR trends, he noted changes in recruitment such as position-based, competence assessment; and flexible work environments. Thanks to Johaness’s session, the attendees expanded their understanding of searching for jobs as a foreigner in Korea, how to be ‘marketable’, and learned some tips on applying in particular to LG Electronics. SKK GSB’s Career Development Center (CDC) is dedicated to connecting students and alumni for networking and opportunities. It, therefore, organizes regular events called "Career Talk." In these sessions, alumni share their experiences at SKK GSB, and explain the paths they then followed.
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- 작성일 2022-10-19
- 조회수 7429
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- SKK GSB Professor Suil Pae: Disclosure of Disaggregated Information in the Presence of Reputational Concerns
- Professor Suil Pae's paper, "Disclosure of Disaggregated Information in the Presence of Reputational Concerns," has been accepted for publication in Management Science, a top-tier management journal. Prof. Pae worked on this paper with Prof. Tae Wook Kim of the University of Hong Kong. And this paper is Prof. Pae's second top-tier journal acceptance for this year. Congratulations! Abstract as below: This study examines a reputation-concerned entrepreneur’s incentives to provide disaggregated information about a project’s future performance when he seeks to increase both the market price of the project and the market assessment of his ability as a project manager. Two factors determine equilibrium: (i) the informational quality of the signal related to the entrepreneur’s ability; and (ii) the magnitude of reputational concerns. If the former is relatively low, the entrepreneur with moderate reputational concerns is more likely to provide disaggregated information when the signal about the project’s overall performance is intermediate than when it is sufficiently good or bad. Also, given any value of the signal about the overall performance, this entrepreneur withholds disaggregated information when the signal about his ability is intermediate, rather than sufficiently good or bad. The comparative static results provide novel empirical predictions about disclosure of aggregate versus disaggregated information. Keywords: Voluntary disclosure; Disaggregated information; Reputational concerns
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- 작성일 2022-10-17
- 조회수 5523
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- [Herald Business] Myounghee Kang, CMO at Finda, "SKK GSB, a process of self-growth in pursuit of life goals"
- Ms. Kang, Myounghee (FMBA, 2013) is now the CMO at Finda After graduating from SKK GSB's Full-time MBA course, Ms. Kang Myoung-hee is now in charge of marketing (CMO) at Finda, a fintech company that operates a loan comparison and brokerage platform. On this platform, borrowers can easily compare loan conditions by financial institutions, and lenders can access information to select borrowers with higher credit ratings. Ms Kang started her career in the financial industry before enrolling on the MBA program, then she switched to the marketing field after completing the marketing track in her Full-time MBA studies. Ms Kang's career has encompassed a sense of purpose, transformation, and growth. Starting her career in a savings bank, she found purpose in doing something that moves customers and markets. Afterwards, she realized that she needed a career change as a marketer to do something meaningful and suitable for her. She said, “I enjoy challenges and growth, but above all, I wanted to live a life where I could immerse myself in what is meaningful to me.” By embarking on the MBA and completing the marketing track, she developed in her professional field while exploring opportunities to gain relevant experience through networking with classmates, seniors, and juniors. After graduating with an MBA, she did marketing consulting at a consulting firm, and later served as CMO at The Booth, a craft beer brand, and at Playlist, a content company, expanding her marketing domain through branding. Now, as Head of Marketing at Finda, she leads the growth team, branding team, and marketing design team. Ms Kang says, "The MBA isn't all that made me who I am today, but I think that I steadily pursued becoming the person I am today through the MBA course." She also emphasized that an “MBA is a process of creating a better future by using deep thought about career path and future, and using various stimuli through networking, as well as professional education during mathematics, and the guidance of world-class professors.” Although she has made a successful career transition, Ms Kang advises that the MBA itself should not be a goal. The following is the text of her advice to those who are considering applying to SKK GSB. “Thinking that ‘everything will be all right because I passed the MBA and came all this way’ cannot lead to a real transformation. Starting with the MBA, I hope you will lead yourself closer to your ultimate life goal by actively utilizing the courses and networks. I want you to imagine the experiences and career goals you want in SKK GSB as concretely as possible, and to create opportunities to gain as many experiences, memories, and contacts as possible beyond your imagination.” Related article: https://news.heraldcorp.com/view.php?ud=20221007000418 The Herald Business on October 7 (in Korean)
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- 작성일 2022-10-14
- 조회수 6321
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- Career Talk with EMBA Alumni: Lucinda Walker, Heonjeong Yun and Dongwon Kim
- (From left: Lucinda Walker, Heonjeong Yun and Dongwon Kim) SKK GSB's Career Development Center (CDC) invited three EMBA alumni from the class of 2021 to share advice on starting a career in a Career Talk on September 23. The invitees had various fields of expertise: one was from the British Chamber of Commerce, another was from a global accounting firm, and the last was from a multinational conglomerate. The alumni emphasized the importance of Korean language proficiency in starting their careers in Korea. They also advised future MBA graduates not to be afraid of change, or of reaching out to alumni. Those in attendance took part in an hour-long Q&A session, proactively introducing themselves to the alumni, and learning more about career plans. Our CDC is dedicated to connecting students and alumni for networking and opportunities. It therefore organizes regular events called "Career Talk with Alumni". In these sessions, alumni share their experiences at SKK GSB and explain the paths they then followed.
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- 작성일 2022-10-11
- 조회수 6904