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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

Privatization of state firms

KT&G highlights importance of corporate governance reform By Lee Ho-young Several large government-owned firms have been privatized to improve their operating efficiency and financial health. As government-owned firms are established and operated with taxpayers’ money, they are expected to be managed with the utmost efficiency to provide public services to improve the national welfare. The taxpayers’ concern with management’s moral hazard and information asymmetry leads to further expansion of privatization. Woori Bank and Incheon International Airport Corp. are recent examples of companies that are considered candidates for privatization. By examining the KT&G case in mid-2000, it helps interested parties better understand what could happen after privatization. The KT&G case also emphasizes the importance of corporate governance to ensure a successful privatization. KT&G originated from a government division, known as Jeonmae-Cheong, which literally means a monopolized government organization for dealing in tobacco sales in 1952. It changed its business structure to

Sep 23, 2011By Kim Jae-kyoung
Economy

Learn global spirit

Chang Hyun-se, 27, is scheduled to finish his MBA degree with concentration on marketing in February at Sungkyunkwan University's Graduate School of Business (SKK GSB). He did an internship at Cheil Worldwide during the summer and is now looking for a job in marketing at a Korean company. Why did you take this MBA course? Although I’m a Korean, I spent most of my life outside of Korea because of my father’s business. I spent my early school years in China and got a bachelor’s degree from Pennsylvania State University in the United States. So I have always had an aspiration to study in my mother nation, Korea. Since I majored in marketing in college, I decided to learn more about it at the graduate level. What made you apply to SKK GSB? I thought the school has a greater competitive edge in the area of globalization over other MBA courses here. The school has well-formed partnerships with schools abroad, including MIT (Massachusetts Institute of Technology) and Indiana University. In addition, you can get top-tier education in a highly-globalized atmosphere with 60 pe

Sep 23, 2011By Kim Jae-kyoung
Economy

Korea urged to revamp healthcare system

GE seeks to revolutionize healthcare world with 'healthymagination' By Kim Jae-kyoung South Korea has talented doctors and many advanced medical centers but the country should overhaul its healthcare system for more sustainable services, according to the chief executive of the global healthcare company operating here. In a recent interview with Business Focus, Laurent Rotival, president and CEO of GE Healthcare Korea, said that Korea should revamp its healthcare system to reflect the rapidly-changing environment. “Due to the aging society and increasing chronic diseases, we are expecting an increase in the Korea healthcare market. Not only an increase in market size, but also the transformation of the healthcare system in Korea, would be a big opportunity for us,” he said. “Since the current system is not sustainable with high costs, disparate quality, and lack of access, Korea needs to transform its healthcare system,” he added. “Our Connected Corea Strategy would help Korea tackle the challenges as one of the remedies.” The new strategy, which will be officially a

Sep 23, 2011By Kim Jae-kyoung
Economy

Korean firms should learn from Japan’s earthquake

By Lee Seong-jin A powerful earthquake and a tsunami hit Japan’s Tohoku area on March 11, 2011. In addition to a high death toll and devastation of an expanded area, tremendous damage was done to the Japanese economy. Industrial centers of Tohoku area were destroyed and power supply was strictly controlled because nuclear power plants halted regular operations. Global leading auto makers in Japan which boasted of finely-tuned manufacturing and delicately-balanced just-in-time delivery system were particularly vulnerable to the natural disaster. When operating normally, it is highly productive. But a single disruption anywhere along the value chain can tie up the whole system. Toyota and Nissan stopped a majority of their domestic productions lines because several tier 3 parts manufacturers were affected by the earthquake. Both companies had a well-designed information and risk management system down to tier 1 suppliers, but realized that even a problem at a single lower-tier supplier can put the entire system on hold. Japanese auto makers diagnosed the diamond bottl

Sep 23, 2011By Kim Jae-kyoung
Economy

Running risk intelligent enterprise

Firms advised to embed risk into decision making with early warning system By Deloitte Risk has never been a hotter topic than it is today. In an age of extraordinary uncertainty and turbulence, when scandals and disasters are daily front-page news, no one — and no enterprise — is immune to the potential impact of unexpected events. Executives and boards are expressing extremely high interest in ways to manage risk more effectively and many are searching for ways to address key questions about risk that have lately come into the forefront of their consciousness. “How prepared is our enterprise for the opportunities and risks that lie ahead? How can we find the unexpected before it finds us? How do we effectively link strategy and risk management?” We believe that executives and boards can find answers to such questions by practicing risk intelligent enterprise management, an approach that considers risk as a key input into leadership decisions versus as an outcome to be managed after the fact. Perhaps the best way to describe the concept is to contrast it wit

Sep 23, 2011By Kim Jae-kyoung
Economy

Ensuring business sustainability

GE gives clue on how to survive crisis and outlive rivals By Kim Jae-kyoung “Business sustainability.” Sustainability is the business buzzword most frequently used by business leaders and CEOs of global companies since the 2008-2009 global financial crisis changed the landscape for global economy and finance. The crisis threw many globally-respected players into bankruptcy. Even global heavyweights, such as Citigroup and General Motors, came near going belly up and received bailouts from the U.S. government. After witnessing the collapse of major players, which once dominated the global market, business leaders have shifted the focus of their strategy to sustainability from rapid expansion. They are busy finding new sustainable growth engines. There are many global companies pursuing business sustainability but only a few of them have been able to make things happen, eventually surviving for more than a century. Companies that are sustainable have something in common. They are more innovative and adaptive to changes, while showing greater commitment to attracti

Sep 23, 2011By Kim Jae-kyoung
  • Korea urged to revamp healthcare system
Economy

CEO Suh ― unceremonious but determined

By Oh Young-jin Unceremoniously, Shinhan Bank CEO Suh Jin-won entered a reception room adjacent to his office in downtown Seoul for a recent interview with Business Focus. Suh’s two chief PR officials accommodated a four-reporter team from Business Focus, who were waiting for the CEO’s arrival. It was one of reporters that first noticed Suh’s unannounced arrival. It was obvious that he didn’t show any air of pretentious importance, putting a disarming, innocent sort of smile on his face. For the next 40 minutes or so, he turned out to be unassuming as expected but nonetheless showed a high degree of determination, apparently his ticket to the top of the corporate ladder at Korea’s top bank. It was not certain whether two main characters in last year’s internal feud — former Chairman Ra Eung-chan and Shin Sang-hoon, former president of its holding firm — were still influencing the mindset of Shinhan as an institution. But Suh didn’t have anything to say against the two, widely regarded as the founding fathers of sorts of the banking group. “It comes

Sep 16, 2011By Kim Jae-kyoung
Economy

Finding untapped markets

Shinhan looking for M&A opportunities in Indonesia, Malaysia By Kim Jae-won When it comes to globalization, the Korean banking industry lags far behind other industries. Many local lenders have put “going global” at the top of their agenda but they are still lacking scale beyond Korea in many aspects. With the domestic market coming closer to saturation, they are now speeding up their moves to make forays into the emerging markets as part of efforts to find new growth engines. Suh Jin-won, president and CEO of Shinhan Bank, the nation’s third largest lender by assets, is one of the few Korean bank executives who see the urgency for globalization and have a clear vision on how to make it happen. The lender is now setting eyes on untapped Asian markets, particularly looking for M&A opportunities in three Southeast nations. “We are considering M&As in Indonesia, Malaysia and Thailand. We are now examining markets and looking for possible candidates in these countries to meet our takeover price range,” said Suh in an interview with Business Focus held at his office in Seo

Sep 16, 2011By Kim Jae-kyoung
Economy

’Integrate your compliance and reporting models’

By Kim Dong Chul A lot of Korean companies doing business in India have recently been in trouble with tax audits by the local tax authority. In general, tax risks associated with tax audits stem from inappropriate tax compliance or statutory reporting in accordance with local tax law or local generally accepted accounting principles (GAAP). These risks are mainly attributable to poorly equipped global compliance and reporting (GCR). Even world’s largest and leading companies headquartered in the United States or Europe are struggling to cope with these risks. Korean companies are poorly equipped with GCR compared to those headquartered in the U.S. or Europe and thus risks associated with tax compliance and statutory reporting in jurisdictions where they are doing business are much higher. Risks associated with the GCR are on the rise even for U.S. and European firms. Local authorities are rewriting regulations, focusing more intently on the collection of tax revenue and sharing more tax information across borders. At the same time, the global financial crisis has drive

Sep 16, 2011By Kim Jae-kyoung
Economy

Seize opportunity in financial reporting

Globalization changes the way enterprises position tax operations By Ernst & Young World’s largest and leading companies have active global operations across borders throughout the world. As a consequence, they have learned it is very critical for their business and performance to comply with local tax law and local accounting principles effectively and efficiently. In general, the procedures are called as Global Compliance and Reporting (GCR) incorporated in those world’s largest and leading companies in relation to tax compliance, tax accounting, statutory accounting and the related reporting in accordance with local tax law and local Generally Accepted Accounting Principles (GAAP). It includes headquarter level procedures, but is not limited to local entities level only. Companies with global operations are still struggling to comply with increasing regulation and growing complexity on financial reporting and tax rules around the world. And they realize they must transform the GCR to deliver greater efficiency, control and value, while mitigating risks. According to

Sep 16, 2011By Kim Jae-kyoung
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