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Kim Jae-kyoung

Korea Times Business Planning Reporter

I’m currently managing director of Content and Business Planning at The Korea Times. Before I took the current position in early 2024, I served as managing editor in charge of both paper and online for over three and a half years. In 2015-2018, I worked as Singapore correspondent covering ASEAN nations.

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Economy

Rewards trend in transition

Korea’s labor force well positioned due to talented professionals By Diana Yang In the Asia-Pacific region, most countries are either major emerging markets, or developed markets with strong linkage to emerging markets hence benefit from its growth. It will take time for the developed countries to fully recover. By contrast, strong growth and high commodity prices will put upward pressure on wages and inflation in many emerging markets. In 2011, most of the markets are facing similar problems they had before the crisis: talent turnover, inflation, currency appreciation, and increased labor cost. Aon Hewitt 2011 – 2012 Salary Planning survey shows that half of the countries in Asia-Pacific experienced salary increases close or higher than 6%, most of them emerging markets. However, it is noticeable that mature markets such as Hong Kong, Singapore and Australia also experience 4-5% increase, as shown in Figure 1. South Korea Outlook Despite persistent difficulties in youth employment, Korea’s job market as whole continues its trend of gradual improvement. In

Oct 21, 2011By Kim Jae-kyoung
Economy

‘Negotiation is a science’

Stimulate unseen desire to tip balance of negotiation in your favor IGM aims to enter 50 countries by 2020 by exporting knowledge business By Kim Jae-kyoung Life is filled with negotiations. They occur between spouses, parents and children, managers and staff, employers and employees, professionals and clients. No matter what you do or how old you are, you come across these situations on a daily basis. You have to negotiate with your colleague for a lunch choice, with your boss for a budget plan and with your spouse for a vacation destination. Negotiation is a problem-solving process in which two or more people voluntarily discuss their differences and attempt to reach a compromise. In the business world, having good negotiating skills is a must to ensure success. Depending on how well you can persuade your counterpart, the consequence can significantly vary. For this reason, business leaders always try to get the upper hand in every negotiation. In a recent interview with Business Focus at his office in Jangchoong-dong, Seoul, Junn Sung-chul, chairman and CEO of th

Oct 21, 2011By Kim Jae-kyoung
Economy

Value-based management

Alibaba, Samsung shows how to preserve values, gain market confidence By Kim Jae-kyoung Business leaders and CEOs of global companies all dream of making their organizations the world’s top enterprises. To that end, they always strive to recruit the most talented people and overhaul internal processes to prevent corruption. Despite all those efforts, things do not always go smoothly. Talented employees move to rival companies. Irregular activities continue to take place regardless of organizations’ efforts to strengthen internal regulations. For some reasons, only a few business leaders make their dream come true. Why are some companies flourishing while others are struggling to stay afloat? Junn Sung-chul, chairman and CEO of the Institute of Global Management (IGM), says that firms should try to find the answer in corporate value. He explains that what leaders should do is not offer bigger bonuses or create new rules, but establish values that all members, including the CEO, executives and employees can share, which is what he calls “value-based management.” “Pe

Oct 21, 2011By Kim Jae-kyoung
  • ‘Negotiation is a science’
Economy

2008 vs. 2011

Korean economy may avoid crisis but likely to face slower growth By Kim Jae-kyoung South Korea and its people have been through the severe trauma of economic crises following two financial disasters. They first went through the currency crisis during 1997-1998 when the country begged for bailout funds from the International Monetary Fund (IMF). A decade later, Asia’s fourth largest economy was again exposed to a financial crisis in 2008, due to a massive outflow of foreign capital caused by the global credit crisis stemming from the U.S. subprime mortgage meltdown. What is common in both crises is that the main trigger was foreign investors pulling money out of the country en masse. Policymakers and investors here now fret about another crisis whenever global investors show signs of scrambling for an exit. With the situation in the Eurozone spinning out of control, there are renewed fears that the country will face another crisis. Growing concerns over the U.S. economy slipping back into another downturn has added to the fears In September, foreign investors net-sold 1.

Oct 16, 2011By Kim Jae-kyoung
Economy

GMAT Exercise 16

Question 1: Sentence Correction Scorched by fire, stained by water, and inscribed in cramped handwriting, the seventeenth-century Dutch documents on the beginnings of New York City were long ignored by historians, depending instead on English sources for information. (a) the seventeenth-century Dutch documents on the beginnings of New York City were long ignored by historians, depending (b) the seventeenth-century Dutch documents on the beginnings of New York City were long ignored by historians, who depended (c) historians long ignored the seventeenth-century Dutch documents on the beginnings of New York City, depending (d) historians long ignored the seventeenth-century Dutch documents on the beginnings of New York City and depended (e) historians long ignored the seventeenth-century Dutch documents on the beginnings of New York City, they depended Questio 2: Critical Reasoning Two groups of laboratory mice were injected with cancerous cells. One group’s cages were rotated in a disorienting manner. Two-thirds of these mice developed cancers. One-tenth of the mice

Oct 16, 2011By Kim Jae-kyoung
Economy

Minimizing complexity of ’cloud integration’

By Juan Madera CIOs (Chief Information Officers) today are under pressure to adopt cloud services as soon as possible. The ease of acquiring IT services by using a credit card in a matter of minutes and increasingly sophisticated customers who demand that IT departments respond more quickly only exacerbate the situation. However, it is not that simple. There are some basic challenges that any IT organisation needs to first consider before attempting to buy cloud services, for example: • Security: Enterprise privacy policies must be compatible with those of the cloud providers. • Identity Management: Enterprise user account policies such as password complexity and account lockouts must also be compatible with those of the remote service. • Connectivity: Some types of cloud-based applications rely on good quality broadband Internet connections to function well. • Service Level Agreements: Skills and expertise is required to select suppliers more comprehensively. • Compliance and Legal Obligations: Compliance directives and legal obliga

Oct 16, 2011By Kim Jae-kyoung
Economy

How to operate under the cloud

Does infrastructure outsourcing make any sense in a cloud-hybrid ecosystem? By Accenture What if you could access information technology and business services as easily as homeowners access electricity? The utility metaphor is inevitable. It also explains why some might think that cloud technologies enable a kind of do-it-yourself approach to business services, eliminating the need for value-added outsourcing. After all, homeowners don’t need a personal contractor to integrate the coal companies, turbine manufacturers and engineers behind electricity delivery. They pay their bills and turn on a switch. Companies already can simply provide a credit card number to a cloud IT provider and get computing capacity within minutes. They can contact a software-as-a-service provider such as salesforce.com and get ready access to robust cloud-based capabilities in areas such as sales, CRM and finance. With that kind of responsiveness and ready capability, will a CEO or CIO need a service integrator ― a traditional outsourcing partner ― anymore? The answer is: yes and no. The cl

Oct 16, 2011By Kim Jae-kyoung
Economy

Prepare for another downturn in coming months

By Kevin Lee The problems of the world economy have grown since 2008, and we see a significant risk lying ahead of us is a new recession with deeper implications than the one we just left behind. Politicians are trying to solve the problem of too much debt by playing for time. This will fail. Financial repression would have to be significant and requires close political coordination. In addition, it does not address the pressing issues of global imbalances and the adjustments required within the euro zone. The failure to act significantly increases the risk of increased protectionism and an unconstrained financial and economic crisis, which could lead to a drop back into recession. It seems that some politicians and central banks ― in spite of protestations to the contrary ― have been trying to solve the crisis by creating sizable inflation, largely because the alternatives are either not attractive or not feasible. Inflation will be the preferred option ― in spite of the potential for social unrest and the difficult consequences for middle-class savers should it really t

Oct 9, 2011By Kim Jae-kyoung
Economy

How could financial repression be achieved?

• Low interest rates: The key precondition to achieving low interest rates is creditor trust. Creditors are more skeptical about the prospects for countries like Spain, Italy, and France, and are asking for higher interest rates to cover the perceived higher risk of not being paid back in full. This risk-based increase in interest rates in itself serves to increase the risk of default because the debtor economies then need to run a bigger primary surplus _ which, in turn, requires austerity measures that lead to lower growth. It seems highly probable that countries like the U.S., the U.K., Germany, and the Netherlands will be able to hold their interest rates low. For the other countries in the euro zone, we see a significant risk that it will not be possible to lower interest rates enough for financial repression to work, unless the ECB(European Central Bank) starts to buy these countries’ bonds—in effect, monetizing government debt. This would increase the probability of significant inflation. • Higher economic growth: The best solution would b

Oct 9, 2011By Kim Jae-kyoung
Economy

Stop kicking the can down the road

Governments, central banks urged to speed up efforts to write off debts By Boston Consulting Group It seemed that the recovery was well on its way, but recent turbulence in global financial markets came as a surprise. After the signing of the debt deal on August 2, the S&P 500 has lost all its gains for the year. Does this mean we are at the brink of a global double-dip recession? A deeper look at the facts finally reveals that governments have been indecisive and playing for time _ kicking the can down the road, rather than addressing the root causes of the crisis. The U.S.: worse than expected and no end in sight The recession in the U.S. in 2008 and 2009 was the deepest since the Second World War and, as recent data show, it was much worse than previously understood. The U.S. has still not managed to return to its pre-crisis level of GDP, and unemployment remains high while new job creation continues to disappoint. The Federal Reserve’s announcement, that it would maintain very low interest levels until 2013, underscores how concerned it is about the economic prospects

Oct 9, 2011By Kim Jae-kyoung
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