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- Luxury Items as Both Self-Expression and Investment, Says Professor Koo NEW
- Professor Minjung Koo, who teaches marketing at Sungkyunkwan University's SKK GSB, is also known as an expert in branding, ESG (Environmental, Social, and Governance) strategy, and consumer behavior. As an expert in marketing, Professor Koo pointed out that Millennials and Gen Z no longer see luxury items as status symbols. Now, they consider luxury items both a tool for self-expression and an investment. Here’s why fun and scarce brand collaborations are currently the most effective marketing strategy for Millennials and Gen Z. Regarding the limited-edition shoes released by Nike and Dior, despite their high price of over one million won, Millennials and Gen Z line up to get them because of their scarcity. And they post them on their social media and use them as a means of self-expression. After that, depending on the need, they resell the limited-edition shoes on secondhand markets. Those are limited edition, and the scarcer they are, the easier it is to resell them, and also make a profit. Professor Koo was awarded the 2009 International Social Cognition Network (ISCON) Best Social Cognition Paper award as the first Korean recipient and serves as an associate editor for the Journal of Consumer Psychology and as a member of the editorial review board of several prestigious journals, including Journal of Consumer Research. With such a background, she recently selected the paper 'Obligatory Publicity Increases Charitable Acts' (Adelle X. Yang & Christopher K. Hsee) as the most impressive paper. She explained, "According to previous research results, posting their charitable acts on social media can make it seem like they are doing it to show off, so encouraging them to post such acts on social media can lead to a reduction in charitable activities. "However, this paper states that making the posting of charitable acts on social media obligatory encourages people to do more charitable acts. It was an interesting paper that revealed that when posting their charitable acts on social media becomes mandatory, it reduces feelings of guilt, encouraging them to do more charitable acts," Professor Koo commented. With expertise in branding and ESG strategy, she pointed out the "I CU" campaign of CU convenience stores as a recent outstanding example of branding and ESG. When a lost child visits a nearby CU convenience store, the staff enters the child's information, including their name and clothing, into the payment terminal. Then, according to the system built by CU, the child's information is shared with all CU convenience stores nationwide and the police. Professor Koo said, "Not just eye-catching marketing, the company should engage in activities that align with its identity over the long term. Only then can the company be recognized for its genuine branding and ESG practices." In addition, she chose Domino's Pizza's 'Paving for Pizza' campaign as a notable branding campaign abroad. As it snows a lot in the USA, roads become damaged, making car accidents more likely to occur. People report potholes on Domino's Pizza's website, and then the company repairs them. For Domino's Pizza, which provides delivery services, this is an excellent campaign because road safety is linked to the brand's differentiating factor, thus highlighting its identity while offering a solution that people genuinely need. Professor Minjung Koo, with over 15 years of experience teaching and researching at Sungkyunkwan University's SKK GSB, stated, "I am sure that SKK GSB is the only business school in Korea that provides a truly global MBA education. I have always been proud of this." She has been telling students in her Branding class that "storytelling is always important," but since there is no book that explains the storytelling of branding, she is currently writing a book on this topic. Professor Koo emphasized, "Writing a book is also a way to give insights to students. As a professor at SKK GSB, I hope students achieve even a little career growth through interactions with me and by attending my classes."
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- 작성일 2025-02-11
- 조회수 3318
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- The EMBA Class of 2026 Published Their Gazette
- "One Team, One Dream!" The Indiana Kelley-SKK GSB Executive MBA(EMBA) Class of 2026 students at Sungkyunkwan University's SKK GSB became 'one team' as they shared the past semester. They began their journey with a bit of nervous excitement, but over the semester, they have built bonds so strong that shouting the phrase "One Team, One Dream!" feels like second nature. Strong bonds were made possible because everyone was eager and motivated to network and expand their knowledge. To capture the entirety of beautiful shared moments, the EMBA Class of 2026 students have decided to publish their gazette. This gazette featured their busy days, during which they often wondered, "When will the break finally come?" The gazette has captured the moments: a few sleepless nights they have had under their belt, a newfound respect for time management, and the ability to dissect any assignment. Click the link to read how the EMBA Class of 2026 students at SKK GSB have grown from peers to friends, mentors, and lifelong connections. The EMBA Class of 2026's Gazette
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- 작성일 2025-01-24
- 조회수 54383
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- Prof. Youngju Nielsen "AI is Revolutionizing Investing"
- Professor Youngju Nielsen of Sungkyunkwan University's SKK GSB said, "AI enables individual investors to invest more easily and allows experts to design more sophisticated strategies" in an interview with Hankyung magazine. Prof. Youngju Nielsen emphasized that the importance of AI in the financial industry has increased, and the application of AI technology has expanded. She shared, "Previously, beginning quantitative investment using big data required much time and effort. Now, with a little programming knowledge, people are able to apply quantitative investment strategies." She added, "The gap will widen between those who try to learn and apply tools and those who do not." Original Article: https://magazine.hankyung.com/money/article/202412173007c
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- 작성일 2025-01-10
- 조회수 91635
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- How will the Fed's rate cut affect Korea?
- Professor Terence Lim of Sungkyunkwan University's SKK GSB analyzed how the Federal Reserve's decision to lower rates affects Korea's economy on the SBS biz broadcast. Prof. Lim predicted, "Despite weak domestic demand, the Bank of Korea has no choice but to slow the pace of its interest rate cuts." Regarding Donald Trump's second term, he stated, "President-elect Donald Trump plans to raise tariffs on Chinese goods. It will impact China's export market, and South Korea, which exports intermediate goods to China, will also be affected." He added, "Imposing tariffs on imported vehicles will significantly affect Korea's economy." Original Article: https://biz.sbs.co.kr/article/20000192269?division=NAVER https://biz.sbs.co.kr/article/20000200607?division=NAVER
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- 작성일 2025-01-06
- 조회수 103345
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- SKK GSB Announces New Dean, Andrew Yi
- Sungkyunkwan University's SKK GSB (Graduate School of Business) announced that Professor Andrew Yi will serve as the new Dean from Jan 1st. Dean Andrew Yi stated, "I am honored to step into the role of Dean of SKK GSB," and expressed sincere thanks to former Dean Eric Shih for his leadership and dedication to our school. Dean Yi said, "SKK GSB is uniquely positioned to lead in this era, as the global business environment is marked by profound uncertainty and rapid change." He declared his vision, "On this journey together, my focus will be on strengthening our commitment to academic excellence and enhancing our global connections." In addition, he emphasized, "Together, I am confident that we will turn uncertainty into opportunity and continue to set the standard for excellence in business education."
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- 작성일 2025-01-03
- 조회수 109843
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- How Companies Decide What Information to Disclose?
- Professor Suil Pae of Sungkyunkwan University's SKK GSB, with co-author Eunhee Kim (Baruch College–CUNY), has published a paper in the prestigious journal The Accounting Review, revealing how firms decide what information to disclose. According to the paper, when firms disclose good news, their stock prices increase, while bad news often results in a price drop. So, we assume that firms tend to disclose good news and withhold bad news. However, firms may sometimes disclose unexpected or seemingly inconsistent information. This happens because firms consider the disclosure cost. When a firm's disclosure costs increase, the likelihood of not disclosing information increases, leading firms to withhold or partially disclose it. A firm will reveal private information if the expected benefit of increasing the market price outweighs the disclosure cost. Also, uncertainty about information quality could explain why firms disclose bad news while withholding good news. Uncertainty leads them to choose partial disclosure in many cases. In conclusion, firms disclose or withhold specific information and consider the cost and uncertainty about the information to attain better market outcomes. This paper helps predict firms' behavior when disclosing information in real life. Original Journal: https://publications.aaahq.org/accounting-review/article/doi/10.2308/TAR-2023-0540/13146/Voluntary-Disclosure-When-Information-Quality-Is
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- 작성일 2024-12-30
- 조회수 71138
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- 2025 Consumer trend – 'Whoa' Momets
- Professor Serim Hwang of Sungkyukwan University's SKK GSB stated in the Dong-A Business Review, "The brand that provides a 'Whoa' moment will attract consumers' attention in 2025." A 'Whoa' moment has a more profound emotional impact than a 'Wow' moment. Consumers can experience 'Whoa' moments by providing personalized experiences, resolving inconveniences, and delivering emotionally stimulating experiences. An example of this is Spotify's 'Get Ready With Music,' which plays music that fits consumers' fashion styles as they get ready for work. The mobile application Catch Table, which resolves the inconvenience of waiting in line at restaurants, is very popular in Korea. It provides a 'Whoa' moment by eliminating waiting time and cost. Stimulating consumers' emotions with exceptional experiences also creates 'Whoa' moments. Sainsbury's, a supermarket chain in the UK, gave an interesting award based on the consumers' behavioral records. The consumer who purchased the most sausage croissants shared his experience of receiving 48 croissants from Sainsbury's. The 'Whoa' moment, a key 2025 trend, will enhance consumer satisfaction and increase sales. Original article: https://dbr.donga.com/article/view/1202/article_no/11392/ac/a_list
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- 작성일 2024-12-13
- 조회수 75766
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- Introducing the winners of the Alumni Achievement Award
- As Sungkyunkwan University's SKK GSB celebrates its 20th anniversary, we presented the 'Alumni Achievement Award' to three alumni who made distinguished achievements in their fields. SKK GSB received recommendations from alumni, and after reviewing them, selected the winners of the Alumni Achievement Award: Byunghyun Ahn, the CEO of Kyobo Book Centre, Mi-Sun Yang, the General Manager of Ipsen Korea, and Jee Woo Lim, the CEO of POSCO HY Clean Metal. Byunghyun Ahn, who graduated from SKK GSB at Sungkyunkwan University in 2009, has received recognition for his contribution to the digitalization of Kyobo Book Centre, which was previously centered on offline book distribution channels, by building digital infrastructure and boosting online business. Jee Woo Lim, who graduated the Full-Time MBA program in 2015, has been recognized for his technical expertise, professionalism, and leadership at POSCO since 1998. This recognition led to his promotion to CEO of POSCO HY Clean Metal this year. Mi-Sun Yang, an alumna of the Executive MBA program at SKK GSB and a marketing expert who has been working for nearly 20 years in the pharmaceutical industry, including MSD Korea, AstraZeneca Korea and Gilead Sciences Korea, has been acknowledged for her expertise and was appointed General Manager of Ipsen Korea last September.
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- 작성일 2024-12-06
- 조회수 86064
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- Professor Youngju Nielsen's Interview in the Korea Economic Daily
- Professor Youngju Nielsen of SKK GSB, a retirement planning expert, met with Pål Bergström, the CEO of AP7, Sweden's public pension institution. The Korea Economic Daily interviewed Professor Nielsen and CEO Bergström to uncover the key to Sweden's position as having the highest return of any National Pension Fund in the world. South Koreans mainly pay into a capital-guaranteed retirement pension, which has an average return rate of only 1.8%. Whereas, Swedes pay 16% of their income into a pension similar to the Korean National Insurance Fund, and 2.5% of the income goes into the premium pension where they can choose their investment options. If a premium pension plan participant does not choose a pension management company or product, 2.5% of their income goes into the AP7, the National Insurance Fund. AP7's recent 10-year return rate is an annual average 15%, making it the top public pension. The key to AP7's high return rate was raising stock allocation to 90%. Professor Nielsen and CEO Bergström collectively argued that the stock allocation of the retirement pension should be raised, which would provide South Koreans could receive a pension that ensures a financially secure retirement. Original article: https://www.hankyung.com/article/2024112534581
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- 작성일 2024-12-03
- 조회수 84490
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- SKK GSB's One-Year Program Launch Gains Media Spotlight
- The launch of SKK GSB's one-year Full-Time MBA program has been featured in many press outlets. A one-year Full-Time MBA program minimizes career breaks or leaves of absence for students while enabling companies to provide global MBA education to their employees in just one year. According to reports, starting with the Class of 2025, students will be able to choose between a one-year or a one-and-a-half-year program, with both MBA tracks offering the opportunity to complete an online MS program at Indiana University's Kelley School of Business through a dual degree program. Original article: https://www.sedaily.com/NewsView/2DFEW66KGT
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- 작성일 2024-11-19
- 조회수 112031