Networking events are a great way to meet new business prospects, potential partners, and build relationships within your existing network. To make the most of the networking opportunities KDIS and the Sejong Center for Creative Economy and Innovation has organized the 2017 Sejong Global Networking Party on June 23rd.

The event began with Mr. Todd SAMPLE (2007 MFDI), CEO and Co-founder of Sample&Park Consulting, interviewing one of KDIS alumnus Mr. Minsoo KIM(2007 MBA), on how to establish yourself as an entrepreneur in Korea. Mr. KIM introduced himself to the audience as someone who uses every opportunity to meet new people and network. This is one of the key reasons why he chose to live in the dormitory as a student of KDIS – to meet new people from all over the world. Mr. KIM has worked for companies like IBM and Sony, but he soon discovered that he wanted to get into entrepreneurship. From this point on he decided to quit his day job and pursue his dream, even with his family’s disapproval at the time. He came up with and executed an online start up that in English would be translated as Korean wave. It is an online shopping platform that features some of the trendiest Korean fashion and since launch has attracted many users from around the world. The reason why he established his business as an online platform is that at the time, and even today, these kind of companies are becoming more and more popular. Potential consumers are very eager to have access to Korean fashion with the ease of online shopping. Mr. KIM as well stressed the importance of timing, the need to relate to your perspective clients and underlining a good comprehension of the business environment. Another important point he raised to the audience and those who might seriously be considering a business start-up is that you will need partners or team mates that you can trust. He reflected on an experience of not being able to trust a key player on his business team which eventually caused considerable damage to his business. Nonetheless, he encouraged potential entrepreneurs to take risks and explained that in business it’s all about learning as you go. Without courage, you won’t start your journey, and it will just remain a dream.

Following Mr. KIM introduction, KDIS students were invited on stage to present a brief overview of the market potential in the countries they are from, showcasing consumer behavior and policy framework for trade deals with Korea. First on stage was Mr. Edward William Osei-Bonsu BRUCE-LYLE (2016 MPP), from Ghana, a country in West Africa with a population of close to 30 million and a GDP of 42 billion USD. He presented a couple of common misconceptions people have about Africa and its inhabitants, explaining the tremendous possibilities the continent could bring to Korean’s entrepreneurs. Following him was Mr. Dadiya BUTH (2017 MPP) from Cambodia, another prospective market with 16 million inhabitants and a GDP of 64 billion USD. Cambodia is a country with a bright future, averaging a 7% annual growth and concomitantly purchasing-power. There are booming industries in the country in the field of manufacturing, processing, and tourism. As well the country has a young and dynamic work force backed up by attractive policies and tax cuts for companies. Third to present on stage was KDI School student Mr. Gustavo BENITEZ (2017 MPM) from Ecuador, a country in South America with only 16 million people, but a GDP of nearly 200 billion USD. Ecuador offers cash incentives to start a business in the country and provides a very stable investment protection structure in regard to the countries’ legal system. Several other presenters covered more countries and likewise business opportunities in Central Asia and the Caucasus region.

In the last part of the presentations, the Korean entrepreneurs showcased on stage their products ranging from cosmetics to educational toys. It was a great opportunity to share ideas and exchange experiences. The event ended with both entrepreneurs and KDIS students more informed and eager to pursue their dreams.

By Valentin CROITORU [2017 MDP, Moldova] and Tracy Amanda SMITH [2017 MPP, Guyana]