Innovation for Sustainability Toward More Sustainable Cities Toward a More Sustainable World We talk to John Schuldt Chungha Cha Im Hong Jae
Korea Voices Tom Coyner Bryan Hopkins Jocelyn Clark
In This Month’s Issue Founders’ Message Expect Answers
We’re more persistent and determined in searching for solutions when we believe an answer exists.
Upcoming KBLA Events
Our First KBLA South Dinner of 2016 Climate Change Innovation Baseball at the Skydome! Pro Series Seminar: Crisis Management
Recent KBLA Events
Legal Risk Management Seminar What’s Next Lunch: Security v. Privacy Venture Forum: Pavegen
Carrying the Flag: John Schuldt
John Schuldt, President of AMCHAM Korea is a man on a mission for American business.
Sustainability Man: Chungha Cha
Going wherever the winds may blow, Chungha Cha has found meaning and meaningful work in building a more sustainable world.
KBLA Community Im Hong Jae: Sustainable Development
Ambassador Im Hong-Jae is currently VicePresident and Secretary-General of the United Nations Global Compact Korea Network.
Trade & Finance
How Korea’s Three Major Parties See the World
There is growing interest in the foreign policy positions of three major parties in the National Assembly.
Korea Voices Bryan Hopkins
Special Features Tom Coyner
About The KBLA
It’s what you always wished existed.
You don’t need many reasons to join the KBLA. You only need four.
Expect Answers When facing problems that must be solved or questions that need answers, whether or not we actually believe that a definitive answer exists changes everything about our psychology.
n chess, there is the “chess problem.” Chess problems are cases where the reader is given a specific goal such as achieving checkmate in a certain number of moves, or some other chess goal. Chess problems are not actual games, but are rather designed situations used for tactical training. What makes chess problems different from playing a regular game is that the player knows, conclusively, that a way to accomplish the stated goal exists. An answer to the problem exists. This understanding drives a problem solver to sit at a chess problem for much longer than he otherwise would, searching and searching and searching for the answer. The player pursues the solution with a persistence he just wouldn’t have during a normal game because he knows an answer exists - and he knows he just needs to find it. His total psychology of problem solving, persistence, and resilience is different, enhanced.
The How hard we pursue answers phenomenon in other largely depends on how much exists areas of study we believe they exist. as well. In economics, and other social sciences, or in business, we are usually forced to be satisfied with estimations and guesses that would not earn a passing grade in the physical sciences. A physics problem, for example, is not done until a real number pops out at the other end. In business, however, because we get used to not getting answers, we also get used to not expecting to get them. We face the same situation as the social scientists and chess players, and we therefore
handicap ourselves: we stop pursuing definitive solutions. Many of the problems we believe don’t have answers are simply left unaddressed when the answers actually lie not that far away. We miss these solutions to our problems because we don’t persist in looking for them. We don’t persist in looking for them because we believe they don’t exist. Too often we settle for sub-optimal solutions to our problems for no other reason than that we simply don’t expect that better answers, the real answers, to our problems exist. In those cases, we defeat ourselves. Expect answers. And don’t give up until you find them.
Rodney J. Johnson President, Erudite Risk Co-Founder, KBLA
Steve McKinney President, McKinney Consulting Co-Founder, KBLA
Upcoming KBLA Events
The South Has Risen Again!
A first class evening in an excellent hotel, incredible view, incredible dinner company.
KBLA South Dinner Friday, June 10, 2016 Park Hyatt Busan 7:00 PM - 10:00 PM
The KBLA Dinner is KBLAâ€™s signature relationship-building event. The meeting is small, luxurious, and allaround special. For the first time in 2016, KBLA is taking its show on the road. The first KBLA South meeting will be a KBLA Dinner at the Park Hyatt Busan. The following day we will go on a sailing cruise with a barbecue. Spouses and families are welcome to attend the cruise. The Park Hyatt Busan has offered special rates for KBLA South
Dinner attendees who wish to stay the night at the hotel. KBLA South events have traditionally been a mix of attendees from Seoul and local Busan KBLA members.
Public link: http://kbla.info/index.php/kbla-south-dinner
The Future is Now And It Is Most Definitely Sustainable.
Connecting up people is the secret to creating innovation for a sustainable future. Join us for what promises to be yet another great KBLA Innovation Series Lunch.
KBLA Innovation Series Lunch
Climate Change Innovation: Connecting the Dots
Tuesday, June 14, 2016 Grand Hyatt Seoul, Sansoo Room 11:30 AM Registration 12:00 PM - 2:00 PM Presentation/Discussion
Public link: http://kbla.info/index.php/green-innovation
Read the interview with this eventâ€™s presenter, Mr. Chungha Cha, on page 22 of this issue. Visit www.kbla.info to learn more about each of these events and more. Visit us on Facebook at https://www.facebook.com/KoreaBusinessLeadersAlliance/
Weâ€™re back! Baseball at the Skydome! Our first KBLA Night Out at the Skydome was so much fun weâ€™ve decided to do it again!
KBLA Night Out
Baseball at the Skydome Friday, July 1, 2016 Nexen Tigers Skydome 6:00 PM - 10-ish Spouses/Family welcome This event is limited to KBLA Members and specially invited guests only.
The KBLA Night Out at the Skydome is truly a special night of fun and camaraderie for the whole family. We have reserved a private VIP Skybox where we eat, drink, and watch the Heroes trounce the competition. The evening includes a buffet dinner and welcome drink provided by the Skydome. Additional beverages can be purchased from the stadium. There are only 10 seats available for this event! Register early!
Upcoming KBLA Events
Prepare For and Manage Crises In the Organization Our second Professional Series Seminar covers all the elements of staying safe, communicating, and staying out of legal trouble when a crisis hits the organization.
KBLA Professional Series Seminar
Thursday, July 7, 2016 Grand Hyatt Seoul, Sansoo Room 9:30 AM Registration 10:00 AM - 3:00 PM Presentations and Case Studies
Crises come in all shapes and sizes, from a North Korean provoction leading to a potential armed conflict, to natural disasters, to internal fraud and corruption. It is impossible to predict what crises will come, what shape they will take, and how they will impact us, but we can prepare to best respond to whatever may come.
plan. In order to create such a plan, special knowledge of your organization, the planning process, stakeholders, and regulatory requirements is needed. Join us in learning to keep yourself and your organization safe.
Preparation is best accomplished through careful planning, training, and maintenance of a comprehensive crisis management Public link: http://kbla.info/index.php/crisis
Visit www.kbla.info to learn more about each of these events and more. Visit us on Facebook at https://www.facebook.com/KoreaBusinessLeadersAlliance/
Recent KBLA Events
Legal Risk Management Seminar Risk is everywhere. We can choose to mitigate it, avoid it, transfer it, or ignore it. Whatever we choose to do, we should do intentionally. KBLA Professional Series Seminar May 11, 2016 Grand Hyatt Seoul Presenters Bryan Hopkins Rodney J. Johnson This was the KBLAâ€™s first ever Professional Series Seminar. It was an all-day event featuring two speakers who brought a unique body of knowledge to participants that canâ€™t be found anywhere else in Korea. Risk can mean various things to various people. It can take a variety of forms and impact our businesses in a variety of ways. The process for managing that risk, however, is well-devleped and fairly uniform across all kinds of risks. Whether we are discussing legal, operational, financial, or strategic risk, the process must begin with knowing where we are. We must start with understanding our own context. This is the process of gaining an understanding of the requirements of our internal processes, external regulatory requirements, identifying external and internal stakeholders, and determing what parts, activities, and processes are absolutely critical to revenue generation and brand or reputation protection. Once we have begun to understand our own organizations we move to assess our risks. Risk Assessment is the beating heart of Risk Management. Risk assessment is a multi-stage, multistep process that includes identifying risks, analyzing them to see how likely they are to cause us damage, and then evaluating each one to see if something must be done to mitigate those risks or
not. Criteria for determining whether or not risk should be treated includes an organizations risk appetite (its tolerance of risk) and the tradeoff between the expense of mitigating damage versus how expensive the damage, itself, is expected to be. Once we have determined which risks we must deal with and which ones must be ignored we turn to questions of how to deal with them. There are a variety of ways to treat risks, from changing our own operating behavior to purchasing insurance to building in resiliency through redundancies and safeguards. Some ways to treat risk are more expensive than others and some risks are very hard to treat due to the highly unlikely nature of their occurence coupled with the potentially catastrophic outcomes. These are the proverbial black swans of risk events. Mr. Hopkins presented sessions on Identify and Assessing Legal Risk, Product Liability, Trade and Commercial Risk, Data and Privacy Risk, Contractual Risk and Contract Management, and Litigation Management. Mr. Johnson presented on Dealing with Operational Risk, and Operational Privacy and Data Risk. These two presenters will team up again for the second KBLA Professional Series Seminar, Crisis Management, which will be held at the Grand Hyatt Seoul, on July 7, 2016. See more information on page 11 of this issue.
Recent KBLA Events
Security v. Privacy We’ve been led to believe that security and privacy don’t get along; that we must give up one to have the other. It is not necessarily true. KBLA What’s Next Lunch April 28, 2016 Grand Hyatt Seoul Presenter Rodney J. Johnson Recent events in the US, where Apple and the US FBI squared-off against each other in court over access to an iPhone once used by one of the terrorists responsible for the San Bernadino attacks, brought to light issues relating to the public’s right to privacy versus the government’s need to enforce the law. At issue was whether or not the government could compel Apple to create a new operating system that would leave grant the ability to crack the iPhone in question once it was installed on it. While the main question was ostensibly about whether or not Apple could be compelled to create weaknesses in its own product, the real core of the argument was over the use and management of strong encryption. In that sense, the new court case was neither about this particular phone nor about Apple’s security engineering. It was about whether or not strong encryption would continue to be available to the public and whether or not the government would demand irrevocable access to all devices and data streams. The fight between government and industry has always been over encryption. This has been true since the early 1980’s, when law enforcement first woke up to the possibility of the existence of “locks that could never be opened.” In reality, encryption is not the bogieman it is presented to be; in most cases commercially available encryption can be
cracked if given a reasonable amount of time. The current Apple-FBI case is now over. The FBI successfully accessed the phone in question and withdrew its case, but the fight between individual privacy/private industry confidentiality and national security is just heating up. The different parties in the privacy and security ecosystem will continue to fight for their interests through litigation and legislation. Mr. Johnson will present again on this subject in early July at AMCHAM Korea. Exact dates of the presentation will be forthcoming.
Recent KBLA Events
Connecting The Internet of Beings
Pavegenâ€™s new technology for generating electricity and data through human footsteps is electrifying.
KBLA Venture Forum April 28, 2016 Grand Hyatt Seoul Presenters William Choi Jun Hwan Park Mr. William Choi and Mr. Jun Hwan Park, the two top executives of Pavegen Korea, presented on Pavegenâ€™s unique green technology: a technology for generating electricity through footsteps. Pavegen manufactures electricity and data generating tiles for use in a variety of indoor and outdoor applications such as retail sites, airports and train stations, and stadiums. The tiles turn the kinetic and potential energy of footsteps into electricity that can be utilized in local or distant applications. Generated electricity may be stored for later use as well, allowing electricity generation to better meet peak-time energy requirements. Pavegen is a London-based, privatelyheld, company with operations in key countries around the world, one of which is South Korea. The technology is rapidly improving, allowing tile pricing to drop,
opening up new revenue models. Pavegen has also begun to utilize its tiles to generate traffic data so that people flows can be closely monitored and analyzed for optimization of whatever application is required, be it retail display design, or airport traffic management. Mr. Park is the head of operations in Korea, and a KBLA member. Inquiries on Pavegenâ€™s exciting new technology and the applications it produces can be directed to him at jun.hwan@pavegen. com.
Carrying the Flag for American Business After 30 years in the automobile industry, John Schuldt, President of AMCHAM Korea is ready for whatever challenges may come. You spent your whole career at Ford Motor Co. Did you always want to work in the auto industry? Were you always a car guy? Thanks and what a great question to start out this interview. My father worked for General Motors for 30 years so I grew up in an automobile family. The industry was part of my life as a kid. That said, when I graduated from Thunderbird with my Masters in International Management I knew I wanted to work for a large multinational company that would give me the opprtunity to live and work outside of the USA. When I graduated I had two job offers and the offer from Ford Motor Company made the most sense to me. What made you interested in an international career? I had a triple major in international business, international economics and international relations as part of my undergraduate bachelor of science degree in business. I had a great advisor at my school who told me if you are truly interested in an international career you need to go to thunderbird. I listened to him and graduated with a master of international management degree.
Any regrets about the years you spent at Ford? I had a wonderful 30 year career at Ford. 20 years in the USA and 10 years in asia. Anything you would have done differently? Nope. Looking back on your career, is there a decision you can look back on as the single best career decision you ever made? In 1996, a senior executive came by my office and asked me “what do you want to next?” I said “I want to go overseas with Ford or move to this position domestically.” The next day he came into my office and said to me “you’ll be getting a call today from a guy in Tokyo. I suggest you listen to what he has to say.” Two weeks later I was on my way to Tokyo. Best personal and business decision I ever made.
The auto industry seems to be on the cusp of major change with the introduction and popularization of electric vehicles and self-driving vehicles. Do you feel these changes are going to cause serious harm to the industry over the next, say 10-15 years, or do you believe it will be just more adjustments, and otherwise, business as usual? Technology presents a great opportunity for consumers and manufacturers in any industry and in the automobile industry it is the same. Global manufacturers will embrace the technology and figure out a way to deliver on the original promise of the automobile …freedom to travel whenever and wherever you want on your own schedule. How did you come to be in Korea? I first came to Korea in 1997 and when I was offered the opportunity to come here to work in 2012 it was a relatively easy decision. The KORUS FTA opened up opportunities for American automobile manufacturers that previously didn’t exist. It was a real opportunity to be part of a growing business.
“Do your homework and be patient.” When you came to Korea did you find that marketing and sales in the auto industry is different/unique in Korea, if so, how is it different? Not really different or unique compared to other markets I have worked in. Traditional broadcast media is expensive and to be relevant to consumers in that space takes quite large budgets. Social media is very effective for reaching Korean consumers. Korea is a very sophisticated media market and that is similar to Japan and the United States.
What made Korea special for you and your family? How did it become home? The neighborhood where we live is next to a traditional Hanok village. We have great neighbors which gave us a terrific social network. Plus our 14 year old daughter is very happy with her school. We have a beautiful home in a great neighborhood with terrific neighbors and our daughter is doing well in school. To me that is home. What is AMCHAM’s mandate in Korea today? Is it any different than it has been over the history of the organization? The mandate remains the same as it has for the last 63 years: “to promote the expansion of the vital trade and investment partnership between Korea and the United States through the active development and promotion of commercial, economic and cultural exchanges.”
Who are AMCHAM’s member companies? Why do people join AMCHAM? AMCHAM is the oldest and largest chamber in Korea. We have nearly 800 member companies ranging from Fortune 10 companies to one-man start ups like Pick a Bagle. We are a respected voice to the Korean government about business and we are able to provide access and advocate on behalf of our member companies regardless of size or industry segment. What can and should AMCHAM do better to be a more effective organization going forward? AMCHAM is extremely effective today. In my short tenure in this position it is clear to me that the Korean government looks to AMCHAM for advice, counsel and discussion on how to improve the business climate on the peninsula. No other foreign business organization has that capability
today. That said, competition is increasing in our space so focusing on our customers is important. Our customers are our members and we will continue to improve our focus on them which will keep AMCHAM relevant and maintain our leadership position.
and businesses will be able to restructure their workforce up or down as necessary to be competitive in a global economy.
What are the major challenges American companies face operating in Korea today?
Do your homework and be patient for results. Understand the dynamics of the market here and the regulatory and labor challenges you will face. And join AMCHAM so that we can help you grow your business.
Lack of regulatory transparency and the inability to restructure a business due to rigid and in some cases outdated labor laws. AMCHAM fully supports President Parkâ€™s desire for regulatory reform and labor reform. Eliminating redundant regulations and reducing the complexity of regulations as well as being more transparent in the development phase will improve the business environment in Korea and will reduce some of the challenges facing American business. How are those challenges expected to change in the near and distant future? Near term AMCHAM will work with the Korean government and support the efforts of the government in this area. Long term â€œreformâ€? will lose its importance as regulations will be reduced
What advice would you offer to American companies considering entering the Korean market?
Oh, the Places You’ll Go From America to Korea and the world, from finance to sustainability; surrendering to the possibilities leads to the greatest gain. Please tell us something about your background and your career so far.
living in Boston and Sohee is a graphic designer working in New York City.
Life has been a wonderful journey for me, filled with ups and downs and unexpected surprises and blessings. Born in Seoul, I grew up in a small town in NJ since I was 6 years old. It was the year 1963 and being the only Asian in class had its own set of challenges. I didn’t speak any English yet so being plopped into my Grade 1 classroom was a trip! And, the neighborhood was a bit rough so I took Taekwondo lessons to learn how to defend myself. But, I quickly made friends somehow and never looked back.
You are involved in the green or sustainable cities movement. How did you get started on that?
After getting my MBA in 1985, my first job was with Citibank in NYC which kicked off my 20+ years in banking. I was fortunate that Citibank soon started to send me on business trips to Hong Kong, Tokyo, Sydney and Melbourne. It opened my eyes way beyond that little town in NJ and the Big Apple. The places that my work has taken me have been absolutely one of the most wonderful things about my career. After working 3 years in Tokyo for a Japanese bank, we returned to Seoul in 1992; always traveling to far-away places in search of business opportunities. Of course, my life journey cannot be told without my better-half. I’ve been married to Kay since 1987 and it was the best decision in my life to marry her. We’ve become best friends and she helps and guides me in many significant ways. We have two daughters; Soyoon is an artist
I like to refer to life as a journey. I used to think that we are in the driver’s seat and can plan out our future. But, the more I think that I am not in control, the more interesting life gets. And, after almost 25 years in finance, getting into the green buildings and green cities movement was certainly not planned. About 10 years ago, my Chinese friend told me that he is getting into renewable energy in China and taught me about the
Kyoto Protocol and Climate Change. I was intrigued and started to travel the world attending conferences on climate change, carbon, renewable energy, green buildings, sustainability, etc. I felt like a kid again as I sat on the floor at some “standing room only” sessions, feverishly taking notes on the issues and challenges being discussed. The more I learned, the more invigorated I became so I started a small consulting company to link my finance skills to help attract investors into projects that help reduce carbon emissions. I’ve worked on solar, wind and energy efficiency projects. But, these days, I focus almost all of my time on green buildings as Vice Chair of the Korea Green Building Council. I am also Chair of a small foundation called “Re-Imagining Cities” that focus on the “Business Case for Green Buildings”.
“The more I think that I am not in control, the more interesting life gets.” What are these things all about? What are the advantages of green buildings? First of all, many confuse what green buildings are all about. And, rightfully so because green buildings can encompass so many things like energy efficiency, renewable energy, cleaner indoor air quality, healthier and increased productivity for the occupants, more natural daylighting, rainwater collection, reduction of wastes and so on. The green building trend is toward making our built environments (homes, offices, schools, hotels, residential, hospitals, etc.) to become healthier. Did you know that the air quality in many of our buildings is worse that the air outside?? And, did you know that the air quality can negatively impact our thinking (cognitive) processes? One of our major objectives at our
“Re-Imagining Cities” Foundation is to raise awareness of the benefits of green buildings and the risks of our existing buildings to citizens, businesses, NGO’s and the government. Why are sustainable cities important? We work very closely with three global organizations: (1) World Green Building Council, (2) Architecture 2030 and (3) Global Real Estate Sustainability Benchmark, more commonly referred to as GRESB. We all have a shared vision for sustainable cities and a future powered by 100% renewable energy. • At the UNFCCC COP21 meetings in Paris last year, over 180 nations agreed that Climate Change was real and that we need to keep the planet’s temperature rise to under 2 degrees Celsius. In order to achieve this, over 50 global organizations led by the United Nations and the World Green Building Council adopted “Buildings Day” to recognize that we cannot achieve this target without reducing GHG emissions from our buildings (both existing building stock and new construction). • 75% of global energy consumption and GHG emissions stem from our cities. Cities are the problem; but, cities can also be the integral part of the solution. Architecture 2030 is a leading foundation helping cities develop roadmaps to zero emissions. For example, with Architecture 2030 assistance, Mayor Bill de Blasio announced that New York City will reduce 80% GHG emissions by 2050, along with dozens of other cities in the world. “Re-Imagining Cities” Foundation is working closely with Architecture 2030 to support Seoul City to develop a roadmap to reduce emissions. And, we are bringing in an online professional training series to help Korean architects design “Net Zero Energy” buildings more effectively. • GRESB provides an annual survey
of global real estate investors on how they are performing along the Environmental, Social and Governance (ESG) parameters. GRESB is showing data to support that those real estate investors who are performing higher on the ESG ranking are also enjoying higher
their citizens on a regular, transparent way. Korea makes plans for 2020 … and, when they get close to 2020 and cannot achieve their targets, they will make a new plan for 2030. That’s exactly what happened in COP21 in Paris and South Korea is now ranked as one of the worst countries in terms of CHG reduction targets according
financial performance. We are working closely with GRESB to support the “Business Case for Green Buildings” to break down the perception that green buildings are too expensive. The focus of our “Re-Imagining Cities” Foundation focuses on interesting case studies and analytical tools to help make green buildings more profitable than conventional buildings!!
the Climate Action Tracker. As one of the leading economies in the world and one of the Top 10 GHG emitters in the world, Korea’s GHG reduction targets are quite embarrassing. We truly hope that the Korean government will engage the industry experts to help develop a better roadmap that can show leadership in our fight against Climate Change.
What are the challenges cities and governments face in trying to transition to sustainable cities? This can become a very long answer but the quick recommendation to cities and governments is to develop a roadmap with transparent and metrics to measure performance and progress. For example, if the roadmap should include “green buildings”, a metric that Singapore is using is to measure the number of buildings that have received green building certifications. Their “metric” is to have 80% of all their existing building stock to receive certifications by 2030! But, they also have metrics to achieve in 2016, 2017, 2018 and so on … so that their year on year progress can be monitored and shared with
What countries/cities are leading the charge? Vancouver has aspirations to become the “Greenest City in the World” by 2020. And, as I mentioned above, Vancouver has developed hundreds of metrics to define what “greenest city” means, communicates their roadmap, annual progress and future plans on their website. If any city wants to become a more “sustainable city”, Vancouver is one of the best cities to benchmark and to learn from. Copenhagen is also leading the charge in a very impressive way: they are targeting Carbon Neutral by 2025!! This effectively means that Copenhagen will be 100% renewable energy. Carbon neutral means that they will, in fact, have some use of fossil fuels but they will install renewable energy facilities to “offset” the fossil
fuels that they use. This is impressive, indeed. But, there are more and more countries and cities that are approaching 100% renewable energy in “Carbon Neutral Cities Alliance” and other 100% renewable energy initiatives around the world.
Can we expect progress to continue to slowly move forward or is there a factor that will greatly increase the speed of adoption in the near future? No one can argue that policy changes are one of the most effective means to drive change. From 2020, California law will require all residential properties to be Net Zero Energy in order to obtain building permits. And, from 2030, all commercial buildings will need to be Net Zero Energy! In Japan, they will require Net Zero Energy on all government buildings from 2020 and all private buildings from 2030. And, in EU countries, they are ahead of the pack and already requiring near Net Zero Energy. This tells us that things will start moving faster in the years ahead toward green buildings and sustainable cities, hopefully. For us, we do not want to wait for lawmakers to pass laws to accelerate Climate Action (i.e., reduce GHG emissions) from our built environment. We, at “Re-Imagining Cities” Foundation can show that green buildings are more profitable by linking green features into the DCF real estate valuation models to motivate investors into green buildings with more profits.
Anything else you’d like to tell us? Let’s not be complacent about Climate Change and let’s all chip in and help accelerate Climate Action with more green buildings. If you do not believe in Climate Change, maybe, better stewardship can be your motivation to build better, green buildings. And, if any of these reasons are not good enough, maybe you can demand your building Owners to green your buildings to provide a healthier indoor environment where our children live, work and play!! Should you have any questions, please feel free to email me at firstname.lastname@example.org or call me at 010.9560.0888. Thank you.
Im Hong Jae
Core Values for Corporate Sustainability Vice-President and Secretary-General of the United Nations Global Compact Korea Network
ell us about the UNGC’s Korea experience so far?
Very positive and encouraging. The Global Compact Network Korea is guiding Korean companies to do their corporate social responsibility aiming at its ultimate goal of corporate sustainability by integrating UNGC core values and its Ten Principles based on them. Two hundred and eighty signatories support UNGC. I assumed the Vice-president and Secretary-General position in March 2013. My experience of having served at the Korean missions to the United Nations and to the OECD was assumed to be of use for conducting UNGC work and activities. I was in charge of human rights, environment, anti-corruption and development. My current term will expire in March next year. The position of Secretary-General is eligible for re-election. Tell us about how you came to this point in your life. I started my career as diplomat in 1977 by passing the High Diplomatic Service Examination. I served thirty three years in the public sector and retired in 2010 as retirement age at sixty. Soon after retirement, I taught diplomacy and negotiation at the Chung-ju University for three years. And then, I came to the current position. The experience at the GCNK is quite new and challenging.
Ambassador Im Hong-Jae is currently Vice-President and Secretary-General of the United Nations Global Compact Korea Network. He is also serving as Member and Deputy Chair of UNGC Local Networks Advisory Group. Before his retirement from a 33-year diplomatic career in 2010, Secretary-General Im served as Korean Ambassador to Iraq, Iran and Vietnam for approximately six years. Prior to his tour as ambassador, he served as Director-General of the International Economic Bureau at the Ministry of Foreign Affairs and Trade (MOFAT), Counsellor at the Korean Permanent Mission to the United Nations in New York, and the Korean Delegation to the Organisation of Economic Cooperation and Development (OECD). Earlier in his career Secretary-General Im was also Consul at the Korean Consulate General in New York, First Secretary at the Korean Embassy in the Kingdom of Thailand, and Counsellor at the Korean Embassy in the Republic of Costa Rica. Secretary-General Im received his bachelor degree in English Language and Literature from Seoul National University, and read International Relations at the University of Oxford. From 2010 to 2013, Secretary-General Im taught at Cheongju University as a visiting professor to share his 33-year knowledge and experiences in diplomacy and international negotiation. He also wrote five books on diplomacy and international negotiation, including two written in collaboration. OECD – World Economic Forum in 1998, International Conference – Participation and Negotiation in 2000, Viet Nam Kien Van Luc (Stories on Vietnam) in 2010, China’s Rising and Southeast’s Responses in 2011, and Ambassadors Talk About Korea’s Strategy for Asia in 2013.
Tell us about the UN Global Compact. What is its mission? How did it come about? As introduced at the beginning, the UNGC is a sustainability initiative which is on the basis of voluntarism. The former Secretary-General Kofi Annan initiated this initiative in 1999 through his speech at Davos. Then, the UNGC was formally launched in 2000. It was well-timed with the launch of Millennium Development Goals (MDGs). The role of the private sector was not very active at the United Nations. Many developing countries of the United Nations regarded Multinational Enterprises (MNEs) as a problem for their social economic development rather than as solution. But, the United Nations realized that the private sectorâ€™s role is critical in addressing daunting challenges faced by the humanity. But, since its inception, the Global Compact was not activated until the current SecretaryGeneral Ban Ki-moon took initiative to elevate the UNGC to a high priority of UN agenda through the adoption of a General Assembly resolution. The UNGC has two missions. The first is to guide the companies to align with UNGC values and principles to achieve corporate sustainability by embedding them with their strategies, policies, practices, and operation. The second is
to assist the United Nations to achieve its development goals including the Sustainable Development Goals (SDGs). The United Nations relies upon the business sector for its contribution to addressing the various challenges including poverty, hunger, climate change, human rights, corruption, gender equality, and peace. The United Nations requests that they support and respect UN core values and principles while doing business. That is the United Nations asks the business sector to do responsibly before they pursue their business opportunities. Now, 12,000 signatories support the UNGC Ten Principles. Among them, 8,000 company signatories are leading this initiative, hiring 55 million employees. They make great contributions to disseminating the UNGC Ten Principles, nationally as well as on the global scene. The UNGC is a voluntary initiative. It neither pushes nor enforces any obligation except requesting its members to submit its report in the form of communication on progress regarding the Ten Principles. The UNGC is a forum for dialogue, persuasion, and sharing best practices to find solutions to the global issues from the point of business sector.
What is unique or different about the UN Compactâ€™s role in Korea? What are some of the local initiatives? There are various sustainability initiatives in Korea. They are doing their roles on the basis of their respective mandates. The Global Compact Network Korea is doing its role as a local network of the UNGC. The GCNK is disseminating UNGCâ€™s Ten Principles through seminars and workshops as well as consulting and research services in the areas of human rights, labor, environment and anti-corruption. The Network Korea currently places a high priority upon combatting corruption. In this regard, the GCNK has initiated a three year anti-corruption campaign from the 2015 to 2018, with the sponsorship of the World Bank and Siemens. This campaign attracts attention and interest internally as well as externally. The main objective of this project is to foster clean and fair market conditions in Korea. The first year campaign was conducted with six industry associations to promote collective action among players of the same industry. Combatting corruption requires an integrated approach. This year, the second year of the project will expand to the mega provincial cities to promote anticorruption spirit and culture. The third year will be with foreign companies doing business in Korea. In this regard, foreign chambers of commerce support will be highly appreciated. Why do companies join the UN Compact? Is membership by invitation only? How do member companies find you? Korean companies join the UNGC firstly to pursue their corporate sustainability through changing of their strategies, policies and practices in accordance with
UNGC Ten Principles. Secondly, in this process they can raise their reputation and improve brand image. Reputation is critically important like capital in business. Thirdly, they can share best practices among UNGC members, foreign and national. Learning is best done through sharing best practices. As the UNGC is
voluntary initiative, membership is open to all including companies, NGOs, and academia etc. Recently, there are increasingly great demands from various stakeholders that companies do business responsibly. In this regard, businesses look to sustainability initiatives for advice and guidance. The UNGC stands out from other sustainable initiatives, with its justification, authority, and principles. I expect KBLA will play a useful role in recruiting new signatories for GCNK. Foreign companiesâ€™ cross membership with Local Networks are encouraged and welcomed. Switching gears a little bit, what do you find to be the major challenges companies operating in Korea face? There are various challenges companies operating in Korea face. Regulation, policy coherence and corruption are a few examples. The list is hardly completed. For GCNK, human rights, labor, environment, and anti-corruption are core risks companies are exposed to. The seventeen SDGs, including but not limited to poverty, climate, gender, peace, youth, adopted by the United Nations in 2015 are challenges as well. The Global Compact Ten Principles are guiding tools
for business to address various challenges presented by the SDGs. What are some of the megatrends Korea and its companies are going to have to deal with in the near future? Urbanization and regional development, gender equality, climate change, ageing population and its subsequent effects, inequality, low fertility rate and migration seem to be megatrends in the near future in Korea. The list will go on and corporate social responsibility can be added to this. Particularly, transparency and accountability will be critically important for Korean companies’ sustainability. This was stressed by UN SDGs. Various national and international initiatives should work together with companies operating in Korea to make contribution to create a virtuous cycle between household, company, and government. The OECD guidelines on multinational companies, ISO 26000, UNGC Ten Principles are expected to play an important role. What is on the horizon for the UN Global Compact? The UNGC has been one of major agendas for Secretary-General Ban Kimoon. He further widened the United Nations’ relations with the private sector
by convening the UN Private Sector Forum every year since 2008. With his active support and commitment, the Global Compact values and principles have been widely disseminated. I am certain that the UNGC will continue to be an important agenda for the new Secretary-General of the United Nations. The private sector’s role is critical in addressing global challenges before the United Nations. The private sector is a source of resources, knowledge and technology to transform society. Moreover, the private sector’s role is a starting point in the implementation of the SDGs, which will last at least for the next fifteen years. For these reasons, I expect that the new UN Secretary-General will show a strong commitment to the UNGC.
Trade and Finance
1Q 2016 Export Evaluation and Predictions for 2Q 2016 On May 2, the Export-Import Bank of Korea (Korea Eximbank) issued the results of a survey of 453 export-oriented businesses across twelve industries regarding 1Q 2016 export evaluations and 2Q 2016 predictions. Overall, the evaluation of the state of exports in 1Q 2016 is the lowest it has been in at least two years, with the same true of the 2Q 2016 export leading indicator. Majorities of respondents expect exports to all regions in 2Q 2016 to either stay the same or drop from 2Q 2015; expectations for exports to China and other developing regions are particularly pessimistic.
Data Korea Eximbank, Translation and Table KBLA
Data Korea Eximbank, Translation and Chart KBLA
Data originally published in the KBLA Weekly Intelligence Report, May 10, 2016.
2015 Intellectual Property Balance of Trade On May 19, the Bank of Korea (BOK) published its preliminary estimate on the intellectual property balance of trade for the year 2015. Korea is estimated to have run an intellectual property trade deficit of 4 billion USD in 2015, the lowest since 2011. Most of the deficit came from the electronics manufacturing industry (2.96 billion USD). The vast majority of Koreaâ€™s intellectual property deficit is with the US; on the other hand, Korea is gaining ground in the developing world.
Data originally published in the KBLA Weekly Intelligence Report, May 24, 2016.
Data BOK, Translation and Table KBLA
In 2015, Korea ran an estimated 6.7 billion USD intellectual trade deficit with the US, while running a roughly 2 billion USD surplus with China, and 1.7 billion USD surplus with Vietnam.
Data BOK, Translation and Table KBLA
Trade and Finance
2015 Foreign Tourist Survey On May 23, the Ministry of Culture, Sports, and Tourism (MCST) released the results of surveys it conducted of foreign tourists visiting* the country in 2015. While large majorities of tourists responded that their tours revolved largely around shopping in Seoul, both destinations within Korea and purposes (sightseeing, cultural experiences, etc.) appeared to have diversified somewhat. Tourists’ average lengths of stay, money spent, and revisitation rates, have increased.
Data originally published in the KBLA Weekly Intelligence Report, May 31, 2016.
With the exception of “Airtel” tourists**, tourists from all groups indicated increased individual expenditures during their stays. This is especially true of those on group tours, who reported that they had spent nearly 14% more than those on group tours in 2014. In 2015, tourists spent an average of 6.6 days in Korea, up 0.5 days year-onyear.
Data MCST, Translation and Table KBLA
46.1% of those surveyed in 2015 indicated that they were repeat visitors, up from 34.9% in 2014. Japanese tourists were the most likely to be repeat visitors (78.7% responded they had been to Korea multiple times), followed by Singaporeans, Hong Kongers, and Russians.
Data MCST, Translation and Table KBLA
*The survey was conducted of 12,900 foreign tourists ages 15 and older, while they were leaving from four of the country’s main international airports (Incheon, Jeju, Gimpo, and Gimhae), and two international harbors (Incheon and Busan). **”Airtel” (airfare+hotel) refers to packages where roundtrip airfare and hotels are booked together.
Customer Information Provided by Telecommunications Companies to Investigators in 2H 2015 On May 20, the Ministry of Science, ICT, and Future Planning (MSIP) issued a press release detailing communications data given to prosecutors, the police, and intelligence services by telecommunications service providers in 2H 2015. The report measured the provision of three major categories of data provided to investigators: customer information (names, address, etc.), communication confirmation data (phone records, location data, etc.), and communication-restricting measures (contents of conversations, emails, etc). While provision of the first two appeared to have more or less increased, that of the third has dropped.
Data MSIP, Translation and Table KBLA
Data originally published in the KBLA Weekly Intelligence Report, May 24, 2016.
Per Article 13 of the Protection of Communications Secrets Act, communication confirmation data (phone records, cell tower location data, Internet logs, etc), can be provided to investigatory bodies. Overall documentation provided to investigators increased, while phone numbers dropped by over half.
Data MSIP, Translation and Table KBLA
Communication-Restricting Measures, covered in Articles 5 through 9 of the Protection of Communications Secrets Act, allow investigators to request things like the contents of actual phone calls, as well as emails. Per the report, the number of cases in which such measures were invoked was down significantly in 2H 2015; a majority of the information was given to the National Intelligence Service.
Data MSIP, Translation and Table KBLA
Legal Legal analysis provided by Lee & Ko.
The Korean Supreme Court Attempts To Level the Labor Union Playing Field For the first time, on April 28, 2016, the Supreme Court held that wage payments to full-time union officials (i.e., employees who are exempt from performing work for up to an agreed and legally prescribed time limit in order to engage in union affairs) constitutes an unfair labor practice (“ULP”) if the payments are excessively greater (without justification and by more than approximately 30%) than the wages of other employees engaged in the same or similar work (“Supreme Court Case”). According to Article 81(4) of the Trade Union and Labor Relations Adjustment Act (“Union Act”), wage payments to full-time union officials and the provision of other financial support to union operations are prohibited as an ULP. However, wage payments for up to the “maximum time-off limit” (i.e., the legally prescribed number of hours that an employee may engage in union activities and to which the employer has agreed) are permitted. Historically, the Supreme Court and the Ministry of Employment and Labor have applied a high level of scrutiny when assessing the legality of the provision of financial support to union operations. Moreover, with this recent Supreme Court Case, the Supreme Court expressed that it will apply the same level of scrutiny when assessing wage payments to full-time union officials. Recent Supreme Court precedents indicate the heightened level of scrutiny as (1) the usage of company vehicles by unions for work-related matters or apartments to accommodate union officers, (2) substantial monthly payments to unions under the pretext of administrative support, and (3) payment of electricity bills and for office supplies on behalf of
union offices have all been held as ULPs. Many companies’ collective bargaining agreements (“CBA”) commonly include provisions that permit such payments or arrangements to full-time union officials in addition to other payments as support for union activities, including costs and expenses from business trips and commuting. However, the Supreme Court Case expresses the Supreme Court’s view that excessive payments to full-time union officials may constitute an ULP even if the payments are permitted under the relevant CBA and even without an assessment as to whether the payment diminished or destroyed the union’s independence. With multiple unions now permitted in a single workplace, we are beginning to see an increasing trend of minority unions challenging certain payments (e.g., providing vehicle and apartment support, allowing for the operation of in-house cafeterias and vending machines) to majority unions, despite the fact that the payments were legal in the past. We expect that similar efforts to challenge the various payments to unions will continue to increase, and therefore, employers should no longer blindly rely on the terms of a CBA when it comes to determining the legality of any payments. Please note that in the case of an ULP, an employer may face up to two (2) years’ imprisonment or a criminal fine not exceeding KRW 20 million. Employers should also be aware that the Union Act permits subsidies for the welfare of employees or the prevention and relief of financial difficulties and other disasters. As such, careful consideration
and review to specify the scope and permissible usage of a subsidy is necessary to ensure compliance with the Union Act. Lee & Ko has been monitoring this and other significant trends regarding the Union Act in addition to the practical impact that they have or may have on future labor/management relations. We have already been assisting our clients in navigating the complexities of the Union Act and Article 81 (Unfair Labor Practices), and when necessary, have also actively and successfully represented our clients in related litigation.
Chang Soo JIN Partner
As a partner in the Labor & Employment Practice Group, Mr. Chang Soo Jin’s practice focuses on a broad range of civil, criminal and constitutional law issues. Prior to joining Lee & Ko, Mr. Jin served with distinction as a judge for about 21 years in various courts, including 2 years as a Research Officer for the Constitutional Court. Mr. Jin’s most recent judicial posts before joining Lee & Ko included the Seoul Administrative Court and the Seoul Southern District Court, where he presided over the adjudication of various cases relating to labor & employment law, administrative rulings and tax matters, among other things.. Mr. Jin took the lead in issuing a number of rulings on labor & employment cases that have had an enormous impact on the labor/employment sector. Such cases included, among others, a decision on wage standards for pilots and a decision on dismissals of underperforming employees. Other influential rulings by him have included a decision in a high-profile case concerning the validity of legal limits on giant retailers’ operating hours and a decision on taxation of real-estate holdings.
Kwang Bae PARK Partner
Sang Hoon LEE is a partner in Labor and Employment Group. He has been selected as a top employment and labor lawyer by legal international publications such as Asia Law, Chambers Asia, Legal 500 and Who’s Who Legal: Pensions & Benefits. Mr. Lee has a great deal of experience and a proven track record in traditional employment and labor law areas such as individual employment relationships (including employment agreements, termination, wages, etc.) and collective labor relationships (including collective bargaining agreements, strikes, crisis management, etc.). He has successfully represented many multinational and domestic clients in the employment and labor areas such as employment agreements, change of workrules, sexual harassment, employment discrimination, compliance and investigation, employee transfer, employee discipline and termination, lay-offs, wage and hours, leave, severance pay, pension and benefit, non-competition, employee privacy, temporary or dispatched worker, collective bargaining agreement, unjust labor practice and labor unions. His practice also focuses on labor relations related to mergers and acquisitions and corporate restructuring. For example, he played a key role in successful injection of US$ 4 billion of government funds by the Korea Deposit Insurance Corporation (“KDIC”) into six Korean banks during the Asian financial crisis in 2000. During negotiations among the KDIC, the banks and the labor union regarding the issues of restructuring and employee withdrawal from the union, he provided various legal advice to the KDIC, which enabled injection of government funds and revived Korean banks.
The whole future lies in uncertainty: live immediately. Seneca
Public Perceptions on the Economy On April 29, the Federation of Korean Industries released the results of a public opinion survey of 800 adults nationwide on their perceptions of the state of the economy. A large majority of those surveyed identified the economy as being in a downturn lasting at least three years. Slightly larger percentages identified internal issues - either decreased domestic demand, or a decreased ability of the countryâ€™s economy to cope with changes - as opposed to external (decreased exports due to weakening overseas demand, etc), as being the causes of downturn, although external issues were also identified as significant.
Data originally published in the KBLA Weekly Intelligence Report, May 10, 2016.
Nearly all (97.1%) respondents had an overall negative opinion on the state of the economy, with over four-fifths stating their belief that the economy was in a longterm slump.
Data FKI, Translation and Chart KBLA
Internal causes, such as a slump in domestic consumption and a weakening national competitiveness were the most commonly identified as causes of the current downturn.
Data FKI, Translation and Table KBLA
April 2016 Consumer Price Index On May 3, Statistics Korea released April 2016 Consumer Price Index (CPI) figures. The overall CPI rose 0.1% month-on-month, and 1.0% year-on-year. The CPI for food and clothing rose at a higher rate (3.4% and 2.3% respectively) than for other items.
Data originally published in the KBLA Weekly Intelligence Report, May 10, 2016.
Data and Table Statistics Korea
The overall CPI for all items measured increased 1.0% yearon-year, most sharply for food and non-alcoholic beverages (3.4%). The CPI for transport and utilities, fell 3.0% and 0.2% respectively.
Data and Table Statistics Korea
Potential Impact of Minimum Wage Increase
Data originally published in the KBLA Weekly Intelligence Report, May 24, 2016.
On May 18, the Korea Economic Research Institute (KERI) issued a press release detailing the results of a seminar it held regarding the potential impacts of raising the minimum wage. At the event, the former director of the Korea Labor Institute estimated that: 1. Raising the minimum wage to 10,000 KRW (from the current 6,030 KRW) could cost between 240,000 and 510,000 jobs; raising it to 9,000 could cost between 170,000 and 310,000 jobs. 2. Raising the minimum wage to 10,000 KRW would bring the minimum wage from 44% of the country’s average wage, to 73% of the country’s average wage. It is estimated that doing so could drop the economic growth rate by 1.5 percentage points. Raising the minimum to 9,000 KRW would drop the economic growth rate by 1.1 percentage points.
Recent Economic Developments On May 13, the Bank of Korea (BOK) issued a periodic report on recent economic developments. Per the report: “The Korean economy appears to be gradually improving, thanks to a modest recovery in domestic demand, although the slump in exports has continued. Most indicators of domestic demand, such as consumption, facilities investment and construction investment, rose substantially in March, owing for example to the launches of new products, to base effects following their sluggishness during January and February, and to front-loaded government spending. Exports sustained a substantial decline in April, but on a daily average basis their slump eased. The Korean economy is expected to continue its trend of recovery, driven primarily by domestic demand, but there are considerable uncertainties surrounding the future growth path. Both upside and downside risks to the forecast remain. For example, an improvement in economic sentiment is likely to act as an upside risk, while a deterioration in investor sentiment due to corporate restructuring is likely to be a downside risk. Consumer prices are expected to sustain their low pace of increase, owing to the low oil prices and to downward pressures from the demand side. The current account balance is forecasted to remain in surplus.”
Bank of Korea Economic Data Release Dates June 2016
JUN 1 Balance of Payments during April 2016 (preliminary) JUN 2 Gross National Income: 1Q 2016 JUN 8 Monetary and Liquidity Aggregates (April 2016) JUN 8 Household Loans of Depository Corporations during April 2016 JUN 14 National Balance Sheets for 2016 JUN 15 Export/Import Price Indices during May 2016 JUN 16 Financial Statement Analysis for 1Q 2016 (advanced estimate) JUN 17 Balance of Payments by region for 2015 (preliminary) JUN 20 Producer Price Index during May 2016 JUN 24 Trade/Terms of Trade Index during May 2016 JUN 28 Consumer Survey Index (CSI) for June 2016 JUN 29 Business Survey Index (BSI) for June 2016 JUN 29 Interest Rates: May 2016 JUN 30 Flow of Funds during 1Q 2016 (preliminary)
Average Household Income and Spending, 1Q 2016 On May 27, Statistics Korea issued its figures on average household income and spending in 1Q 2016. The average household income in 1Q 2016 was 4.55 million KRW, while average household spending was 3.52 million KRW. The average propensity to spend was 72.1%.
Data originally published in the KBLA Weekly Intelligence Report, May 31, 2016.
While household income increased 0.8% year-on-year, real household income dropped 0.2%, the second consecutive quarter that it has done so.
Data Statistics Korea, Translation and Table KBLA
The average propensity to consume for 1Q 2016 was 72.1%, the lowest 1Q in the last six years. The average propensity to consume, for any first quarter or otherwise, has not reached 75.0% since 1Q 2013.
Data and Table Statistics Korea
2016 Annual Report on Copyright Protection The Korea Federation of Copyright Organizations (KOFOCO) and the Copyright Protection Center (CPC) recently released their 2016 Annual Report on Copyright Protection. The report, which covers the year 2015, is the result of a nationwide survey of 18,645 individuals ages 13 to 69, using online and offline survey methods. Over the last five years, an average of approximately one-third of individuals surveyed have admitted to using pirated materials. While estimated damages to legal movie and music content industries have dropped, they are offset by double-digit gains in estimated damages to the television and gaming industries, with total estimated damages to all content industries from pirated materials amounting to 2.32 trillion KRW in 2015.
Data originally published in the KBLA Korea Risk Advisory, May 26, 2016.
Data KOFOCO and CPC, Translation and Chart KBLA
The percentage of individuals admitting to having used pirated materials has averaged a little over one-third (36.4%) over the last five years. At the same time, the rate at which pirated materials are estimated to have pushed-out potential legal sales has continued to drop. Of note, while the percentage of those who admitted to having used offline pirated materials is relatively small, it appears to have grown slightly the last two years.
While estimated damages to music and movie content have dropped, increased estimated damages to television and gaming content made-up for the difference with double-digit yearon-year increases.
Data KOFOCO and CPC, Translation and Table KBLA
30.6% of those surveyed said they had decreased their usage of pirated materials in 2015, while 6.2% said they increased, and 63.2% said that they used them at about the same rate.
MFDS to Increase Management of Food Importers On May 9, the Ministry of Food and Drug Safety (MFDS) announced that it would increase efforts to manage food importers and their agents, specifically those with a history of regulatory violations. Importers that import defective items, those who file false declarations, those who attempt to bribe inspection officials, or request unreasonable administrative information, will be identified as “importers subject to oversight” (ISOs, 관리 대상 수입자). On the other hand, those that meet certain positive conditions may be eligible for “excellent importer” (우수 수입자) designation, which comes with certain benefits.
Data originally published in the KBLA Korea Risk Advisory, May 12, 2016.
1. Items imported by those identified as ISOs will undergo between 5 and 30 precision inspections*. 2. If an importer is identified as an ISO for making false import declarations or attempting to bribe officials. 3. According to the report, there are plans to amend the Enforcement Rules for the Special Act on Imported Food Safety Management, so that the business registrations of those found to have bribed officials will be cancelled. Current regulations merely suspend operations for progressively lengthening terms.
4. Deceptive measures, like voluntarily withdrawing from making import declarations in hopes of beating inspection, and then reentering an item for declaration, will be met with precision inspections. 5. On the other hand, if a production facility in an exporting country is inspected by MFDS and determined to be safe, an importer may be eligible for “Excellent Importer” status; customs clearance for those with said status will be expedited. *Precision inspections include physical, chemical, and microbiological inspections, as well as documentary and on-site inspections.
How Korea’s Three Major Parties See the World
With the 7th Party Congress in the backdrop, there is growing interest in the foreign policy positions of three major parties in the National Assembly.
Author(s): John Lee and J. James Kim On North Korea, for instance, the three parties seem to hold divergent views: the TDP and the PP both favor denuclearization and engagement with North Korea while the NFP supports President Park’s hardline approach. Meanwhile, floor leaders of the three parties held a meeting to organize the 20th Assembly, which will hold its first session on May 30. They agreed to maintain the 18 standing committees and to elect the speaker and committee chairs by June 7 and 9, respectively. However, they have not yet reached an agreement on the committee chair assignments. Traditionally, the largest party holds the speakership and the opposition leads the judiciary committee. The problem is that the TDP is both the opposition and the largest party. Absent any changes until June 7, the next speaker is likely to come from the TDP. The NFP is arguing that it should lead the judiciary committee if the TDP takes the speakership. The PP supports the NFP’s position.
The Asan Institute for Policy Studies is an independent, non-partisan think tank with the mandate to undertake policy-relevant research to foster domestic, regional, and international environments conducive to peace and stability on the Korean Peninsula, as well as Korean reunification.
Korea’s KFTC At the Crossroads Between Antitrust and Intellectual Property The KFTC’s recent amendment of its IPR Guidelines is a signal to the world of its increasing sophistication and agressiveness.
n 1995, the United States Department of Justice (DOJ) published guidelines for providing guidance regarding the application of antitrust principles to intellectual property agreements covering the licensing of intellectual property rights. The Antitrust Guidelines for Licensing of Intellectual Property (the “1995 Guidelines”) set the stage for the antitrust review of intellectual property in the US. The 1995 Guidelines, focused on the principle that intellectual property was not primarily free from antitrust scrutiny nor free of antitrust scrutiny. Therefore, in the US, an analysis of intellectual property related agreements (patent licensing agreements, etc.) normally relies on a determination of whether the agreement unlawfully retrains trade and whether there has been a clear case of misuse by the licensor or licensee. Over the last few years, Korea’ s antitrust enforcement agency or regulator (the KFTC) has become very active in not only enforcing Korea’s antitrust and unfair business practices regulations but in expanding the scope of antitrust analysis in lock step with its western counterparts, especially the DOJ in the US. Such antitrust expansion also included the application of antitrust review to intellectual property agreements, especially patents. In Korea, the KFTC, wanting to showcase its sophistication, has also issued guidelines on intellectual property rights (IPR) as applied to antitrust review. In fact, claiming it will revamp its guidelines
every 2-3 years, the KFTC has just released new IPR guidelines (the “IPR Guidelines”) covering the use or misuse of standard essential patents (SEPS). SEPs have been the subject of antitrust review and regulation in Europe as well as other jurisdictions. Until recently, de facto SEPS (technology which has become standard as a result of normal market competition - ie blu-ray vs HD) has been treated the same as SEPs (technology which has become standard technology adopted by standard setting organizationssuch as cell phone patents adopted as standard by the IEEE). However, the KFTC, in a move to become more aggressive and to set itself apart from some antitrust enforcement agencies, has distinguished between SEPs and de facto SEPs in its IPR Guidelines. By stating in the IPR Guidelines that de facto SEPs are different SEPs , the KFTC has acknowledged that the regulatory requirements for antitrust review will not be the same. In essence a different illegality standard will be placed on de facto SEPs as opposed to SEPs in general to avoid excessive restrictions on widely used technology that has not been adopted by standard setting organizations. Therefore, the antitrust review by the KFTC of international SEPs and international de facto SEPs will not be the same as the review provided by the DOJ, which does not recognize the concept of defacto SEPS. The main issue the KFTC will focus on when reviewing SEPS and de facto SEPs
Bryan Hopkins Special Counsel, Lee & Ko email@example.com
for antitrust violations is whether the license application for using SEPs or de facto SEPs has been improperly or unfairly refused. When analyzing the refusal, the KFTC will look at three main concerns: (i) The intention of the licensor to reject the licensee’s application for the licensee to use the SEP; (ii) The competitive restraints on competition flowing from the refusal to grant the license; and (iii) The access to alternative technologies or SEPs or de facto SEPS the licensee may have. The KFTC’s IPR Guidelines update, is considered so important (especially regarding SEPS and defacto SEPS), that the American Bar Association Sections of Antitrust Law and Intellectual Property Law commented on the proposed updates in January of 2016. Stating that US Law does not recognize the concepts of defacto SEPS, the ABA Sections advised the KFTC to revise the IPR Guidelines to expressly state that all issues relating to patents in Korea would be subject to the same criteria ( including defacto SEPS) under Korea’s antitrust laws- ie The Monopoly Regulation and Fair Trade Act ( MRFTA) except for SEPS when dealing with FRAND commitments. Distinguishing between the SEPs and de facto SEPS sets the KFTC apart from other antitrust enforcement agencies and signals the KFTC’s willingness to push the boundaries of antitrust law when applied to IPR related agreements. Though some courts and regulatory agencies are considering whether a patent holder ‘s voluntary commitment to a standard-setting organization (SSO) leads to antitrust liability, the KFTC has determined antitrust liability may exist regardless of whether a SEP or de facto SEP is in question. This may open the door to antitrust exposure in numerous industries ranging from telecommunications and IoT to pharmaceuticals and healthcare.
The KFTC has signaled to the world that it is ready and willing to conduct an antitrust review as aggressively as possible and by virtue of its own IPR Guidelines has indicated a willingness to forge ahead into a brave new world. Whether or not the KFTC will in fact adopt the ABA’s language or reasoning remains to be seen. However, the KFTC has signaled its desire to treat defacto standards differently than in the past and that the judging criteria of applicable to the unfair exercise of patents rights are now applied to defacto SEPS.
Sanjo’s “Silent Spring” Confucius saw music as a device for self-cultivation, a vehicle of self-expression, a force of social stability, a political tool, and a medium of communion between man, nature, and supernatural powers. Psy brings us “Hangover.” When we hear the word “sustainable,” the first thoughts that usually come to mind have to do with the natural world. Most of us have not been raised to think about the art forms we expose ourselves to daily as affecting our individual and collective sustainability as human beings. Today, each country and region on earth must struggle against the homogenizing dynamics of globalism to nourish its unique cultural self. Just as the glaciers surrounding my home town of Juneau, Alaska, continue to melt under rapidly warming weather conditions brought on by far-off industrial activity, audiences for Korea’s longstanding musical traditions are similarly disappearing under the rapid infiltration of modern musical forms that float in from across the Pacific to occupy our ear buds. If you have up until now thought of sustainability in terms of the ecology of our habitat and the effects of our actions on that ecology, i.e., polluted drinking water, warming oceans, beetle infested forests, species extinction, you are not alone. But sustainability is something we usually aspire to at more micro levels of our existence—in our careers, relationships, and physical health. Similarly, the cultural choices we make every day determine the long-term resilience of our personal and national identity. When our choices reach back no farther than last year’s Korea K-pop Hot 100, or even the arrival of Korea’s first piano, made in Germany in 1864, once long-running roots become severed and unable to deliver the cultural nutrients so important to a person’s, and a people’s, identity.
A fellow traveler, the American artist Ian Boyden, pointed out to me recently that “our environment is a reflection of self. . . . but not just a reflection of self. The environment and self are inseparable. We are our environment. What we do to the environment, we do to our selves.” By this reasoning, a person is her or his cultural environment—what we take in is who we are destined to be. On May 18, instead of going to the gym, where I am currently ensconced in the last installment of John le Carré’s orientalist spy thriller The Night Manager (which I stream on my iPad as I run up treadmill mountain), I opted to attend the recital of my teacher Ji Seongja at the Namsan Hanok village. Now in her early 70s, Ji is the regional Important Intangible Cultural Asset for Gayageum Sanjo for North Jeolla Province. That night, we gathered around the grand master in the moonlight on wooden floors shined by 100 years of soft, shuffling feet, amid minimalist elegant traditional decor. Though the small venue was sold out, half of the audience was made up of Ji’s students. The other half included a hanbok designer, a critic, and some of Ji’s personal friends. Very few members of the general public had made the event a cultural priority. Looking around, I saw again how the ecosystems of human artistic expression can be as fragile, and as vulnerable to human choices, as the ecosystems that make up our natural environment. It is clear the ecosystem that once sustained the vibrant musical form gayageum sanjo is in trouble.
Professor Jocelyn Clark Professor, Pai Chai University KBLA Arts Ambassador firstname.lastname@example.org
When I first came to Korea in the early 1990s, especially when I played in the southwest, the listener and the player joined as one in experiencing the music. The entire audience would sing along with the performers, shouting out chuimse—words of encouragement timed perfectly within the rhythm patterns. Twenty years ago, chuimse outbursts had already become less exuberant in Seoul (perhaps they were always short on exuberance in the urban concert hall) but chuimse was still going on to the extent that, having been brought up to sit silent and still during western classical music concerts, I would jump in my seat every time someone near me shouted “Nice!” Ji Seongja’s concert earlier this month, however, was silent—the cultural equivalent of American writer Rachel Carson’s Silent Spring, wherein the intrusion of pesticides silences the birds’ singing around the author’s home. Not until Ji’s encore, the “Song of the Green Frog,” did the students join in with their teacher for, to quote a lyric, a “short moment of spring” (一片春 | 인편춘). Up until the end of the twentieth century, discussions on sustainability and sustainable development in the West treated economics as the core relevant sustainability domain, and ecology as an externality. Culture did not figure in at all. With the millennial change, however, came “Engaged Theory,” with its methods for understanding social complexity. “Social,” under this theory, embodied human beings and our environment, as the pursuit of “socially sustainable outcomes” became a priority for progressive urban planners and other social scientists. As Paul James writes in his treatise Urban Sustainability, the cultural domain came to be defined within this framework as the “practices, discourses, and material expressions” that, over time, express “continuities and discontinuities of social meaning,” including identity and engagement, creativity and recreation, memory and projection, belief and ideas, gender and generations, enquiry and learning, and wellbeing and health.
Economist Herman Daly, in his 1989 For the Common Good: Redirecting the Economy toward Community, the Environment and a Sustainable Future, famously asks “What use is a sawmill without a forest?” By the same token, we might ask “What good is a musical performance without an audience?” Can the traditional musical forms once so integral to the nation’s cultural ecology be sustained if deprived the central energy source of an engaged audience? One of the stories from China best known among those who study music in East Asia is that of Boya (伯牙) and Zhong Ziqi (鍾子期) in the Daoist Book of Liezi (列子) (often quoted by Zhuangzi), from the Warring States “Spring and Autumn” period (approximately 771 to 476 BCE). The tale, as reprinted in the Shen Qi Mi Pu (神奇秘譜 [The mysterious and marvelous qin score]), is simple and short: Bo Ya was good at playing the qin. Zhong Ziqi was good at to listening to the qin. When Bo Ya’s will lay in [describing] high mountains in his playing, Zhong Ziqi would say, “How towering like Mount Tai!” When Bo Ya’s will lay in [describing] flowing water in his playing, Zhong Ziqi would say, “How vast are the rivers and oceans!” Whatever Bo Ya thought of [as he played] Ziqi would never fail to understand. Bo Ya said, “Amazing! Your heart and mine are the same!” When Ziqi died, Bo Ya broke the strings [of his qin] and vowed never to play [the qin] again. Thus, we have the melody “High Mountains Flowing Water” (高山流水). This story is so famous in China that it has been assimilated into a common euphemism for ideal friendship: zhiyin (知音 지음)—literally, “to know the tone/music.” A player finds few such close friends in a Korean traditional music audience today—the kind who genuinely appreciate the genius in your precise manipulation of the decay of a note or the nuances of the tug of war between gayageum and rhythm section; those who shed a tear at your interpretation of the minoresque
gyemyeonjo and ascend with you the lofty mountain of sound you’ve produced to view the city below. The strings that once tied listeners to their cultural lineage having long since been cut, these days we most often play to audience members surreptitiously (or not so surreptitiously) scrolling through cell phone images, faces aglow—an assemblage of ghosts, listening only for the liberating signal of the performer’s closing note to alleviate the ennui. Today, performers of traditional Korean music are, for the most part, left to converse amongst themselves, tying together yellowing bits of rotting silk strings that can no longer be trusted to bend without breaking. Deprived of the nutrients an engaged audience delivers, we pluck on in a sort of refugium (that place in the midst of desolation where things still grow), the verdant cultural landscape on which our sound once thrived quickly becoming desert. In Ian Boyden’s most recent sculptures, he makes self-portraits out of a variety of organic material, such as birdseed, that he gives back to the environment to be completed through the appetites of birds, bears, fish, etc. Might this be possible with music? Confucius saw music as a device for self-cultivation, a vehicle of self-expression, a force of social stability, a political tool, and a medium of communion between man, nature, and supernatural powers. Psy brings us “Hangover.” As Korea struggles to select sounds from among the cultural seed stock that might grow sustainably in the deepening swamp of globalism’s homogenizing effluent, it may help to keep in mind that the individual and national “self ” is one not just with its natural environment, but with its cultural environment. A healthy cultural ecosystem in which Korea’s cultural roots can continue to deliver the nutrients needed for a thriving cultural future is not just a nice idea but an essential aspect of national sustainability.
Let’s Start at the Very Beginning The Value Chain staff has asked me to write a regular column on photography. I was asked to focus not so much on the ‘what’ but the ‘how.’ I look forward in so doing, but before I get into various important topics on how to take good or better photographs, I need to get the fundamentals out of the way. I have a t-shirt featuring two penguins. One penguin comments, “Your camera takes very good photographs!” To which, the other penguin replies, “Your mouth makes very nice compliments!” Many people love listening to Itzhak Perlman perform classic music, but how many ask him what is the brand or maker of his violin? Some people rightly point out Perlman can pick up a student’s violin and make exceptionally wonderful music. And that, of course, is true with photography. Beyond sometimes getting a lucky shot with a smartphone or a camera with all settings to automatic (sometimes ‘P’ mode), the key to playing the violin or taking photography starts with mastering the basics. (In this column, I hope advanced photographers will bear with me or scan ahead to more advanced exploration of what I will immediately cover below.) More than a few times I have been surprised how many people do not know the basics of what one may call the Golden Triad of photography – aperture, shutter and ISO. Without understanding and control of these factors, one really limits one’s ability to create a better or even great
photograph – even if everything looks ‘right’ in front of the camera lens. The aperture is simply the size of the hole through which light travels through the lens to make an image on your film or image sensor. Almost all lenses automatically or manually change the size of the aperture or hole. Although there is an arithmetic rationale for the number of the size of the hole, as expressed in f/ stops,’ it is not necessary to understand how that numbering system was developed. What is important that the numbering is counterintuitive. That is, the smaller the number, such as f/1.8 or f/3.5, the bigger the opening of the hole or aperture. Whereas, the bigger the number, such as f/16 or f/22, the smaller the aperture. The below table may offer some insight:
As you can see above, the larger the aperture, the smaller is the f/stop number and the shorter of the depth-of-field. (Depth of field is the amount of distance away from the camera that is in focus.)
Tom Coyner Owner/Photographer Onsite Studios Asia email@example.com
LARGE APERTURE (small number) Shallow Depth of Field (focus)
SMALL APERTURE (large number) Deep Depth of Field (focus)
Naturally, the reverse is true with the smaller aperture and f/stop number but with a greater depth-of-field. Shutter speed, as you probably know, is the time the shutter is opened to allow light into your camera. In other words, the shutter speed will determine how long light will strike your camera’s image sensor. And, of course, a fast shutter speed will ‘freeze’ action and a slow shutter speed may blur movement. When handholding a camera, you should typically keep your shutter speed at approximately 1/focal-length to minimize blur caused by camera shake. That means if you are using a lens with a focal length of 100mm, you should keep your shutter speed at least 1/100 seconds or less. Frankly speaking, I try to shoot one shutter speed faster than that whenever possible. It is also important to keep in mind that moving objects close to the photographer require faster shutter speeds than the same objects moving at the same speed further away from the photographer. Kids and pets are great examples. If they are 15 meters away, you can get by with perhaps 1/125 of second, but as they run around closer, you really need to shoot at least 1/250 if not 1/500 of second. The following chart may give you a better understanding:
ISO (International Standards Organization) factor has a name that refers to the institution that developed the measurement rather than the function. But what it connotes is the sensitivity of the camera’s sensor. A rough analogy may be stereo amplifier. If you turn up the volume (increase the
power), the louder the sound becomes. But if you turn it up too loud, the noise distorts. Also, if the power is too weak, actually the sound is distorted to a lesser level. So one needs to turn up the volume to be appropriate volumes. So, too, is it with your ISO setting. Normally, you get the best results at the lower range of settings. But some cameras offer ‘L’ settings that are very low but with some degradation of quality. Much more often, we tend to raise the ISO level, but after ISO 800 or ISO 1,000, depending on the camera, there is a loss in image quality caused by ‘noise’ or lack of resolution. Here is another chart to help you:
Interaction among Aperture, Shutter Speed and ISO Aperture, shutter speed and ISO all affect the exposure of a photo. If the ISO is not changed, to achieve the same exposure while varying aperture, increasing the aperture one stop (i.e., open up the aperture) means you need to increase the shutter speed by one stop (i.e., use a shorter shutter duration). On the other hand, decreasing the aperture one stop (i.e., “stopping down”) means you need to decrease the shutter speed by one stop (i.e., use a longer shutter duration). . Similarly, with a constant ISO, but varying the shutter speed, increasing the shutter speed by one stop (i.e., use a shorter shutter duration) means you need to open up the aperture by one stop. Whereas by decreasing the shutter speed by one stop
59 Faster Shutter Speed Freeze Motion
(i.e., use a longer shutter duration) means you need to stop down the aperture by one stop or exposure value. Exposure values or EVs, represent a set exposure combinations of apertures or f/ stops and shutter speeds. Or, by changing the ISO setting one has a third parameter to change the EV. But for now, let’s not worry about changing the ISO. So, in other words, if you use a fast shutter speed, you typically need a large aperture to let more light in. Similarly, if you use a slow shutter speed, you’ll need a small aperture to compensate. This may seem a bit confusing as it was to me when I first learned of it. But actually it is all very logical and consistent.
Slower Shutter Speed More Movement
Perhaps an analogy may help you put this Golden Triad together. Consider using a garden hose, where: • the diameter of the nozzle is the aperture, • the length of time that the water the water runs, controlled by nozzle valve, is the shutter speed, and • the water pressure, as controlled by the faucet, is the ISO. In reality, exposure is not quite as simple as a hose, and achieving the correct exposure is a learning experience that requires some practice to master. Over time, one appreciates that there is not an absolute, correct exposure. But in any case, the Golden Triad is at work at all times.
It is also important to realize that adjusting these parameters will not only affect the exposure, but will have other effects, too (i.e., adjusting aperture causes depthof-field to be impacted, adjusting ISO affects the amount of grain and noise in a photo, etc.). Applying the Golden Triad to Flash Photography For the more advanced photographers, here is how the Golden Triad works in flash photography. By ‘flash photography,’ I mean everything from use and control of your built-in flash on your camera, to speed light or a strobe placed on your camera, all the way out to studio lights controlled by your camera. Flash photography can be daunting. Too often the photographers who swear they only shoot by natural light are those people who have never learned how to effectively use flashes of any kind, particularly flash equipment that is not built into their cameras. And that is a shame. Photography is essentially all about light and shadow. A good photographer makes a photograph whereas the lucky photographer simply takes a photograph. Whatever the case, the Golden Triads factors remain important factors, but the photographer uses them a bit differently. First, the photographer should determine the exposure without use of a flash and then slightly underexpose. Then a test flash exposure should be made. Some cameras and flashes have TTL or ‘through the lens’ flash exposure automation. I have found that even when using TTL , it is generally more relaiable to shoot in the camera’s manual mode, rather than aperture priority or shutter priorty. By shooting in manual mode, you don’t risk competing with the camera’s automation. There is a lot to be said keeping it simple.
Should the TTL test shot come close to your desired exposure, then you can make adjustments. If not, you probably can leave your shutter speed alone and just make adjustments with your aperture. When using a flash or a strobe or studio lights, the principles are the same. Your shutter speed determines the ambiant exposure while your aperture or f/stop controls how bright or dark is the flash on your subect. Regarding the ISO setting, I try to use a low ISO setting, but will increase it if I want to shoot with a smaller aperture, such as f/11 and at a reasonable hand-held shutter speed, such as 1/60 of a second or faster. Again, I first set the exposure based on existing light prior to using the flash. After then, I do the test flash exposure. Normally, the goal is to add light without it appearing you have used a flash. Now, when shooting in the dark, it is probably best to assume you don’t want to handhold a lens slower than 1/60 and try your TTL on a low aperture number, such as f/2.8 If you don’t have TTL functionality, this is not a bad starting point. Depending on how close you are to the subject, you may initially overexpose. In such a case, you stop down your aperture. Or, you can adjust your ISO setting. You can probably even shoot at a faster shutter speed and not see much of a difference. Please check your camera manual what is the highest flash sync speed of your camera. Usually it is about 1/160 or 1/200, but some cameras go as high as 1/250 of a second. There is a way to shoot at higher shutter speeds with flashes, using High Speed Sync mode, but that is another topic.
In future columns, the discussion will not be so technical as this one. Keep on shootin’!
Flash as Fill-in
Should you wish to reach me to offer feedback, to ask questions and/or to offer suggestions for future column topics, please drop me a line at firstname.lastname@example.org.
Tom Coyner is owner/photographer of Onsite Studios in Seoul. He is a photography educator as well commercial photographer. www.onsitestudios.biz 500px.com/TomCoyner seoulman.smugmug.com blogs.angloinfo.com/photographic-eye-on-asia
Flash in a Dark Setting
Chamber Events BCCK 2016 Queen’s Birthday Ball
The 8th New Zealand Wine Festival in Seoul
Saturday, June 4, 2016 6:30 PM-12:00 AM Grand Ballroom, Grand Hyatt Seoul COST: See note
Saturday, June 4, 2016 2:00 PM-6:00 PM Grand Hyatt Seoul, Waterfall Garden COST: 80,000 KRW for Members/ 100,000 KRW for Non-members/ 110,000 KRW for Door payment
Organized every year by the British Association of Seoul (BASS), the Queen’s Birthday Ball is one of the year’s biggest international fund-raising events for Korean charities.
Wednesday, June 8, 2016 9:00AM – 4:00 PM Westin Chosun Hotel (Grand Ball Room) COST: Not specified This forum will discuss the emerging trends in energy industries, focused on new strategies and business development.
ITCCK Business Coaching on Cross-Cultural Communication Thursday, June 16, 2016 9:30 AM-12:00 PM Conference Room, Vantago, 15 F COST: KRW 100,000 This special session of Business Coaching on Cross-Cultural Communication will explore the “complexities and perplexities of Korean business culture”.
Wednesday, June 8, 2016 11:00 AM-2:00 PM Grand Ambassador Seoul Hotel, Grand Ballroom 2 COST: 85,000 KRW for Members / 105,000 KRW for Non-members This annual meeting informs the FKCCI Members about the Chamber’s achievements in 2015 and outlook for 2016 and the coming years.
Note: 240,000 KRW for members, 260,000 KRW for non-members, 2,400,000 KRW for table (10 seats)
ECCK Future Energy Forum 2016
FKCCI Annual General Meeting & Special Luncheon
KGCCI 1st KoreaGerman Logistics Conference
AMCHAM Networking Night at Rooftop Garden
Thursday, June 9, 2016 1:00 PM-6:00 PM Press Center’s Int’l Conference Hall (20fl) COST: KRW 90,000
Thursday, June 16, 2016 6:30 PM-9:00 PM Four Seasons Seoul, Garden Terrace (15th Fl.) COST: KRW 79,000 for Members/ 69,000 for 2016 for New-members/ 89,000 for Non-members
This conference is designed to give an opportunity to learn about current trends in the logistics industry of Korea and Germany.
KGCCI Arbeitskreis Mittelstand (AKM) Wednesday, June 22, 2016 5:00 PM Deutsche Schule Seoul International COST: Not specified This members-only event will discuss about new or upcoming regulations, laws and their potential impact on the business.
This is AMCHAM’s networking event featuring light standing buffet, Bernini, wine, beer and soft drinks.
KGCCI Sundowner Wednesday, June 22, 2016 6:30 PM-9:00 PM KGCCI Veranda COST: Not specified This after work networking event will be held on June 22, 2016 featuring German beers and snacks.
Chamber Events (Cont’d) AMCHAM The 12th AMCHAM CEO Servers’ Night
CANCHAM 2016 Canada Day Celebration
Friday, June 24, 2016 Conrad Seoul, Park Ballroom (5F) COST: Not specified
Sunday, June 26, 2016 1:00 PM-4:00 PM Dulwich College Seoul COST: KRW 40,000 for Adult / KRW 20,000 for Children
This is an annual fundraising event and CEOs become waiters to serve their family, employees and clients to raise charity fund.
The Canadian Chamber of Commerce will be celebrating Canada’s 149th birthday at Dulwich College Seoul on Saturday, June 26, 2016.
ECCK Taxation Seminar Tuesday, June 28, 2016 8:00 AM-10:00 AM Astor Suite (36F), Hotel Lotte COST: KRW 45,000 This taxation seminar will be held at hotel Lotte on June 28, 2016 and it will disscuss the financial transparency.
Lectures & Special Interest Royal Asiatic Society Korea Branch
Royal Asiatic Society Korea Branch
How did North Korea’s God Pictures: Korean Shaman Paintings rich and powerful live under Kim Il Sung, how Tuesday, June 21, 2016 7:30pm to 9:00pm do they live now? Second floor Residents’ Lounge, Tuesday, June 7, 2016 7:30PM - 9:00PM Second floor Residents’ Lounge, Somerset Palace COST: KRW 10,000 for non-members/ KRW 5,000 for students / Free for members This lecture will examine the contrasts between the then and now of North Korea’s top families, with special emphasis on their lifestyle. Andrei Lankov was born 26 July 1963 in Leningrad (now Petersburg). He completed his undergraduate and graduate studies at Leningrad State University (PhD in 1989). In 1996-2004 he taught Korean history at the Australian National University, and since 2004 he teaches at Kookmin University in 2004, Seoul (currently a professor at the College of Social Studies). His major research interest is North Korean history and society.
Somerset Palace COST: KRW 10,000 for non-members/ KRW 5,000 for students / Free for members In this presentation, Laurel Kendall, Jongsung Yang, Yul Soo Yoon will explain about Korean shaman paintings with their own distinctive knowledge and experiences. Laurel Kendall is chair of the Anthropology Division at the American Museum of Natural History and Curator of Anthropology at the Museum.
Royal Asiatic Society Korea Branch A Conversation With the Iconic K.W. (Kyung Won) Lee Return of a Prodigal Son to the Land of Everlasting Hahn Tuesday, June 28, 2016 7:30pm to 9:00pm Second floor Residents’ Lounge, Somerset Palace COST: KRW 10,000 for non-members/ KRW 5,000 for students / Free for members This event will be held at Somerset Palace on June 28, 2016. K.W. Lee is an iconic and unique Korean American, born 87 years ago in Kaesong. He is a groundbreaking, award-winning journalist and role model dedicated to an equitable society, justice and racial harmony.
Conferences & Exhibitions MK Smart Tech Show 2016
The 31st Korea World Travel Fair
Tea World Festival 2016
Begins Wednesday, June 8, 2016 10:00 AM-5:00 PM COEX Hall C COST: Not specified
Begins Thursday, June 9, 2016 10:00 AM-6:00 PM COEX, Hall A COST: Not specified
Begins Thursday, June 9, 2016 10:00 AM-6:00 PM COEX Hall B COST: 3,000 KRW
This exhibition features loT, wearable, smart care/healthcare, edutech, software, big data, 3D printing, etc.
Sixty countries will participate in this expo, which claims to be the largest of its kind in Korea.
This event features new teas, teabased products, and tea wares and instruments.
International Diet Expo 22nd Mom and Baby Expo & Conference Begins Thursday, June 9, 2016 10:00 AM-5:00 PM COEX, Hall D COST: 20,000 KRW, free if pre-registered This event showcases fitness equipments, message chair, body shape monitoring, diet food, functional beverages, nutritional supplements, obesity treatment, walking shoes and much more.
2016 The Golf Show Begins Thursday, June 9, 2016 10:00 AM-6:00 PM KINTEX, Exhibition Hall 3A COST: Not specified This event showcases golf-related equipments and popular tourist destinations for outbound Korean golfers.
Begins Thursday, June 9, 2016 10:00 AM-6:00 PM KINTEX, Exhibition Hall 4,5 COST: 5,000 KRW, free of charge if preregistered This event features prenatal related products, maternity products, premother related products & services, baby foods, early education, furniture for baby, etc.
Tea World Festival 2016 Begins Thursday, June 9, 2016 10:00 AM-6:00 PM COEX, Hall B COST: 3,000 KRW This exhibition showcases the four core sectors of green tea, beverage, tea wares and instruments.
Hana Tour International Travel Show 2016 Begins Thursday, June 9, 2016 10:00 AM-6:00 PM KINTEX, Exhibition Hall 7,8,10 COST: Not specified HanaTour, the Koreaâ€™s largest travel agency, will hold the international travel show at KINTEX from June 9 to 12, 2016.
Cityscape Korea Begins Friday, June 10, 2016 10:00 AM-5:00 PM KINTEX COST: 10,000 KRW This is an East Asiaâ€™s premier international real estate investment and development event, and it will be held at KINTEX from June 10 to June 12, 2016.
Conferences & Exhibitions (Contâ€™d) ASME Turbo Expo Begins Monday, June 13, 2016 COEX COST: Please check the detailed registration fees on the website In this conference, the participants will be able to share the latest in turbine technology, research, development and application with the best and brightest experts from around the world.
Seoul International Book Fair 2016 Begins Wednesday, June 15, 2016 COEX Hall A, B COST: Adult 5,000 KRW, Student 3,000 KRW This event showcases products like greeting cards, stationary, travel books, business and financial services for retailers, professionals related to security systems etc.
Mega Show 2016 Season I
Outdoor Camping Festival 2016
Begins Thursday, June 16, 2016 10:00 AM-6:00 PM KINTEX, Hall 7B & 8 COST: 5,000 KRW, free of charge if preregistered
Begins Friday, June 17, 2016 10:00 AM-6:00 PM KINTEX, Hall 9 COST: 7,000 KRW
This is a four-day event featuring home furnishings, kitchens, appliances, home decorations, foods, beauty, cosmetics, etc.
This festival is for those who are in camping industry or interested in camping products and it will be held at KINTEX from June 17 to June 19, 2016.
International LED Expo The Coast Guard Safety & Equipment 2016 Show 2016 Begins Wednesday, June 22, 2016 10:00 AM-5:00 PM KINTEX, Exhibition Hall 3, 4 COST: 3,000 KRW
This is a 4 day international expo and it showcases products from Lights & Lighting industry.
Begins Wednesday, June 22, 2016 Songdo Convensia COST: 3,000 KRW, free of charge if pre registered This exhibition will be held at Songdo Convensia from June 22 to June 24, 2016. This is the largest networking opportunity in Korea for those in the marine industry.
Korea International Womenâ€™s Invention Exposition (KIWIE) 2016 Thursday, June 16, 2016 10:00 AM-6:00 PM KINTEX Exhibition Hall 7 COST: Not specified This exposition is for providing the opportunity of business and developing methods designed to promote support for domestic and overseas women inventors.
RoboUniverse Begins Wednesday, June 22, 2016 9:00 AM-6:00 PM KINTEX, Exhibition Hall 7 COST: 10,000 KRW This exhibition is the leading professional robotics conference and exposition that promotes practical applications of robots and intelligent systems.
Inside 3D Printing Conference & Expo Begins Wednesday, June 22, 2016 9:00 AM-6:00 PM KINTEX, Exhibition 6 COST: 5,000 KRW This event will feature two days of conference sessions led by top industry experts, plus three days of exhibitions presenting the latest 3D printers, solutions and services.
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Value Chain is published monthly by the Korea Business Leaders Alliance on the ground, in Seoul, Korea. Value Chain is a digital-only publication available in PDF and online forms. For advertising and distribution inquiries contact us at email@example.com.
Mr. Alasdair Forman Vice President WWF-Korea Mr. John H. Kwon Korea Zone Operations Director OTIS Elevator Korea Mr. Mitchell Williams Managing Director Korea / Nuclear Division Curtiss-Wrignt Corporation Mr. Chris Lott Tratech Solutions Inc. President Mr. Matthew Weigand Yonhap Managing Director, etc. Mr. Scott Burton Partner Hunton & Williams, LLP Mr. Alex Rose NovaCentrix Service Manager-Asia Mr. Christian Wiedman Representative Director, President BMW GROUP Financial Services Korea Co., Ltd. Mr. Jay Heo Managing Director Muller Martini Korea Ltd. Mr. Kyung-Sun Suh CEO G9 BioScience Ms. Hyun-Sook Kim Economic Development Partnership of North Carolina-Korea Office Association of American State Offices in Korea Ms. Eun-Jin Jung Director Economic Development Partnership of North Carolina-Korea Office Association of American State Offices in Korea