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Professor Kim Bo-young of the Department of Business has been nominated as the researcher of the week for her active research in the field of international business and marketing. In her paper, “Assessment of the Economic Benefits from US Meat Export Federation’s (USMEF) Marketing Investment in South Korea”, Kim explains how controllable economic factors such as marketing expenditure can have substantial impact on enhancing international trade and business. A photo of Professor Kim (Photo couresy of Kim) More specifically, this research aims to estimate the economic impacts of USMEF marketing investment for commodity on US beef in South Korea. An econometric framework has been developed to assess the effectiveness of USMEF’s marketing strategies and promotional programs in South Korea, by developing an import demand model for US beef and eliciting Benefit-Cost-Ratio (BCR) of USMEF’s promotion investment. From this analysis, 1) the relationships between selected uncontrollable and controllable economic variables and the US beef demand in South Korea are assessed, and 2) with BCR simulation analysis, the return on promotion investment (ROI) of USMEF is derived. In the first stage, the baseline scenario was constructed with the estimated import demand which is set to historical level (i.e.100%) of marketing expenditure, then compared with a counterfactual scenario, where marketing expenditure was hypothetically reduced by 75% below the historical level. The difference between the two scenarios implies the impact of reduction in marketing investment. Hypothetically, 75% reduction in USMEF marketing investment would have decreased US beef import in South Korea, a possible reduction of 20.68% in US beef import demand. (Photo courtesy of Kim) In the second stage, BCR is calculated (i.e.). is the benefit of USMEF promotion investment (i.e. the additional net revenue of US beef due to increased export volume & export price), and is the cost of USMEF promotion investment (i.e. the sum of the various marketing costs). Using this BCR calculation approach, 9 simulated scenarios are generated, which suggest BCRs for US beef with USMEF promotion investments over nine different market and supply conditions. The graph above shows a caculation of BCR. (Photo courtesy of Kim) The study results show that increase in USMEF promotion investment had a significant and positive impact on the net revenue of US beef export to Korea over the period of 2007-2013. The estimates of BCRs ranged from 2.20 to 9.66 under 9 different market scenarios, indicating that on the average, the benefits of USMEF promotion is greater than the cost of USMEF promotion for all 9 scenarios. For example, 9.66 for BCR imply that the benefit of USMEF promotion is 9.66 times greater than the cost. In translation, under the 10% net margin scenario, every dollar invested in USMEF promotion to Korea market generated a return of U$9.66 at most. The incremental benefits for US beef (i.e. additional net revenue) range from U$15.73 million (=10 & =3%) to U$69.95 million (=2 & =10%). Thus, there are substantial returns on USMEF promotion investment. When it comes to international trade of commodity products, there are varying degrees of control over factors that affect their economic benefits in the foreign market. Exchange rates, the price of substitutes, income growth in importing country are some examples of uncontrollable variables affecting commodity exporters. Nonetheless, the study results suggest that there is convincing evidence of commodity promotion expenditure in foreign market, exerting a significant positive influence on the commodity import demand. Thus, promotion investment by international marketing agency can be viewed as an important controllable variable for successful export of commodity. Korean commodity exporters may need to take this as a lesson in developing their export marketing strategies in the future. Currently, Kim is in charge of the Korea Institute of Sustainable Economy (KISE) and her research team is conducting Korea-Japan-China triad comparative analysis on the Omni channel marketing and retailing. By using corporate big data and survey, she is exploring the optimal development of the Omni channel in retail markets in Korea, Japan and China. Kim plans to expand her studies on consumer analytics and international business/data analytics for better understanding of rapidly evolving global retail markets. Yun Ji-hyun firstname.lastname@example.org
On June 21st, 2017, the Global Business Startup Idea Hackathon was held in the HIT building, hosted by National IT Industry Promotion Agency and the Ministry of Science, ICT and Future Planning. The competition was open to anyone interested in business startups, ranging from students at Hanyang University (HYU) to high school students. Around 150 participants entered the competition and 15 teams formed through the idea-sharing process. About 40% of the participants were foreign students from 16 different countries. Diverse types of events had provided for the participants. A 'Talk Concert Session' was held, where alumni entrepreneurs of HYU gave speeches about their success and how they became successful. During break, souvenirs were handed out and prizes were made available through a lottery to keep the participants focused. Ideas to change the world The basic goal of the event was to spread the passion of global business startups, which was why the topic of this event has been “to find the right business item based on a certain country”. Since most of the teams consisted of at least one or more foreigners (in some, most of the group members have been foreigners), there had been some language barriers as well. “We are communicating in three different languages and I am a little overwhelmed right now,” said Angela Baumann (Department of Accounting, 3rd year). Angela and her teammates are enjoying the competition. Business ideas were mostly related to China due to its large target population and a lot of participants had come from China as well. Some teams however, decided to target Korea. Ahmed Al-Anesi, who came from Yemen and currently enrolling at HYU for an MBA, had come up with the idea of linking foreign students who have lived for a while in Korea with foreign tourists, since it is hard for tourists to see the untranslated parts of Korea. “There’s more fun in the unknown areas of Korea and since a lot of us have lived here for three to four years, it would be better for tourists to match themselves with us who know the city more,” explained Anesi. Ideas that have been accumulated and refined over a period of time were highly appreciated during the assessment session. “We do realize that it was a short period of time to put together the ideas of six to seven different people. Some teams had developed their ideas for a longer period of time and we could tell the difference,” said Choi. The winner of the event was team 'Class China', which put forward the idea of developing a language lab on YouTube. “It was a privilege to meet my teammates through this contest and I will work hard to become an entrepreneur who makes Hanyang proud,” said Jung Chang-hee (Korean Language & Literature, ’16). Kang and his teammates are discussing their startup idea. Winners of the Hackathon gathered to take a group picture. With these brilliant ideas roaming around, it would be a great experience for those who are interested in business startups to participate in these contests to learn more about how startups are planned and set up, getting to know people from other fields in the process. Kim Seung-jun email@example.com Photos by Choi Min-ju
Hanyang University Institute for Euro African Studies is to hold a colloquium on 'the way to advance into the Kenyan market to diversify exports.' Ambassador Mohamed Gello will be speaking at this event as an honored guest, which will take place at 3pm, June 22 at the College of Social Sciences Buidling #415, Seoul Campus.
Professor Sunwoo Myoung-ho of the Department of Automotive Engineering is an expert in the field of internal combustion engines and serves as a director at ACE lab. His paper, “Simplified Decoupler-Based Multivariable Controller with a Gain Scheduling Strategy for the Exhaust Gas Recirculation and Variable Geometry Turbocharger Systems in Diesel Engines,” discusses a novel method of applying a new control strategy in order to reduce the emission of nitroxide in diesel engines. Sunwoo explains precise diesel engine control and how it works. One critical disadvantage of diesel engine is that after the combustion, nitroxide is produced along with carbon monoxide and hydrocarbon and other chemicals. Once nitroxide meets water, it becomes nitrite hydrate (H2NO3) which could cause asthma and other bronchial diseases. There are two solutions that could be suggested to reducing nitroxide. First, is to control the engine in an extremely precise method, and, second, is to use catalyst to reduce nitroxide. One certain benefit that could arise from Sunwoo’s studies is that it makes diesel engines more of a “green car” in addition to being fuel efficient. As the production of nitroxide level gets significantly lower, it results in improvement of air pollution, less bronchial diseases for people and reduction of exhaust fume as well. Sunwoo has been researching on clean diesel, which focuses on making the diesel engines much cleaner and greener, for decades . Another program that Sunwoo, along with Hyundai Motor Company, has been focusing on for the past five years is meeting the Euro 7 standards. Euro 7 is the regulation of exhaust gases which is expected to go into effective in 2019. The draft for meeting the regulations has been produced so far. Sunwoo is planning to produce the cleanest internal combustion engine possible. "Think different, and act different." Sunwoo has provided some valuable advice for Hanyang students: “Find what you like the most. This is the primary mission of college life. Make your career different from others. This is the most important mission of all. Finally, never give up and do your best.” Kim Seung-jun firstname.lastname@example.org Photos by Kim Youn-soo
“Two heads are better than one” is a phrase often used to describe a situation where a task is better carried when more than one person is involved. While some people prefer to study alone and concentrate to the full, others like to study in a group and exchange mutual help. The Smart Learning and Learning Center is running a 'Global Learning Community' program that supports community learning activities and cultural experience activities for major courses since 2014. The program, which allows 4 to 6 team members to study as well as cultural exchanges, is paid up to 500,000 won. We are actively conducting this semester, and we have looked into the Global Learning Community 7 activity, which is about a week before the final evaluation. Consistent and diligent studying Lee Ji-yeon, the principal researcher, is overseeing the overall progress. The global learning community is a program developed to develop creative learning methods and improve communication and collaboration skills through self-directed, community learning. It is also possible to develop global communication skills through exchange of learning and cultural exchange with foreign students. At the beginning of each semester, a team member who submits a detailed application plan will be selected by the Smart Teaching and Learning Center. Most students who apply for team are required to work with students who attend classes in the same major, but international students who are having difficulties in studying their major or those who want to study hard with other friends are more than welcomed to apply. The aim of the Global Learning Community Program is to provide an opportunity for Korean students and foreign students to study together in harmony and to share their knowledge and culture for better learning, obtaining mutual benefits from one another. The program intends to give a helping hand to those foreign students who are struggling to follow along with their class content due to language barrier. By having weekly meetings to review their class contents, students can stay away from procrastination and keep up with their learnings. On top of this academic pursuits, students are expected to experience different cultures from each other and broaden their cultural knowledge. Starting from this semester, supporter system has been adopted, in response to participant students’ feedback that it would be helpful to have a more thorough check-up system that manages the communication and difficulties among members of each team. There are total three assistant teachers, all of whom are graduate students. Each assistant teacher is in charge of helping students in different languages: Chinese, English, and Korean. "We have added a feedback system to support students' learning activities in depth and detail. For example, we have been using the supporter system since this semester to help foreign students understand how much they are learning, whether there is a need for learning support, or to facilitate communication between team members," commented Lee. Assistant teacher Noh Ah-young (Department of Education, Master’s Program) and one team leader, Ahn Jae-won (Division of Business Administration, 4th year) Outstanding team of exemplary work The 'Friends Management' team was conducted at the beginning of the 'Project Management' class in Business Administration. The group did not simply took the program as an opportunity for themselves to come together and help each other, but further extended to create a project in which they embraced other fellow students to join in. They created a culture exchange program where 20 students joined Korean traditional clothes hanbok experience and tea-house field trip. “When submitting the monthly report, a lot of students put the focus on what they studied and how they kept up with it. However, Ahn’s team showed innovativeness and creativity in their project and demonstrated perfectly for what this program aims to achieve,” commented Lee. Ahn’s team did a great job in bringing about a cultural exchange not only among its team members but to those outside the group, which makes its achievement even more outstanding. “This program provided me with an opportunity to get closer with people who I may have simply regarded as a temporary group project teammate.” Jeon Chae-yun email@example.com Photos by Choi Min-ju
Professor Lee Won-choel of the Department of Life Science is a researcher who studies biological diversity, animal taxonomy, sociobiology, and marine biology. A passionate animal taxonomist who specializes in meiofauna, microscopic organisms living in the sea floor, Lee found and classified over 100 new species. His recent paper, “A new species of the genus Nannopus (Copepoda, Harpacticoida, Nannopodidae) from the mudflat of Ganghwa Island, Korea” introduces his discovery of Nannopus ganghwaensis. Lee talks about his discovery of Nannopus ganghwaensis. The species Nannopus ganghwaensis, which belongs to the order of harpacticoid copepods of meiofauna group is a discovery Lee made during his scientific project regarding researching life in Ganghwa mudflat. In order to clarify that it is entirely new, Lee took several steps. First of all, he observed that the specimen displays general features of a harpacticoid through microscope. Then Lee proceeded into a more complicated procedure, using electronic microscope and carefully examining and dissecting each segment, including each legs and hairs. The next step was identifying the specimen through literary data analysis. Comparing and contrasting each feature of harpaticoid copepods species through this procedure, Lee could find other species of harpacticoids that looked most similar to the newly found ones. “Nannopus ganghwaensis had general features to those species. But when observed much closer into its finest detail, it has its own distinctive features such as having a smooth seta, or thick hair, without additional fine hairs at the end of the forth inner leg. In addition, the innermost seta at the fifth exopod was fused into the segment,” Lee said. Above are pictures of Nannopus ganghwaensis that Lee drew. After dissection, Lee drew the specimen onto a sheet of paper. The most important of the whole process, the carefully measured drawings were later used in his thesis. After pictures were taken through electronic microscope, additional DNA analysis that distinguishes the species was done. Since Lee specializes in marine biology, he not only explores Korean seas but ventures out to oceans worldwide, scuba diving in the North and South Pole, the Maldives, New Caledonia, and more to collect samples of microscopic marine life. Currently, Lee is a project leader in the BK21 Plus Eco-Bio Fusion Research Team, which focuses on training graduate students. In addition, Lee is working for the National Institute of Biological Resources, publishing illustrated guides to newly-discovered and researched organisms. Lee helped to publish the illustrated guide of invertebrate fauna in Korea. “The socioeconomic significance of biological diversity research is that one’s country can be fully aware of its biological resources. This means that the country in question can demand other nations of the same profit when the latter is making use of the former’s resources, according to Convention on Biological Diversity,” Lee explained. In addition, Lee’s field of research gives basic information about organisms due to his work of classifying and finding new species. When secondary research is necessary because of medical reasons, data about various species is more than necessary. Lee’s personal goal is to open international conferences in Korea for students to attend with ease. This was achieved when he organized the 15th International Meiofauna Conference in 2013 and the 12th International Conference on Copepods in 2014 at Hanyang University. “I think I will continue to research as I have always done. There are 4000 harpacticoid copepods and about 2.5 million of them are yet to be found." Lee’s passion is run by his pure interest and enjoyment in finding, classifying, and giving names to new species that are brought into light through his endeavors. Lee scuba dives into the deep sea to collect specimens for his studies. (Photo courtesy of Lee) As a researcher, Lee believes that studying what one truly enjoys lasts long. “In society, people’s choices of their careers are too limited because of social or economic pressures. But people, especially those planning to become researchers, should find their interests in the direction that the masses haven't yet taken in order to strengthen their academic foundation,” Lee advised. Jang Soo-hyun firstname.lastname@example.org Photos by Moon Ha-na
Hanyang University was selected as one of the Top 75: Asia’s Most Innovative Universities by Reuters. Hanyang ranked 10th in Asia, and 5th in nation climbing 5 and 2 spots respectively compared to the last year's performance. Reuters, in collaboration with Clarivate Analytics (formerly Thomson Reuters Intellectual Property and Scientific Div.), analyzed the top 75 innovative educational institutions in Asia, based on proprietary data and analysis of patent applications and research paper citations. KAIST ranked first for the second consecutive year followed by Seoul National University (2nd) Tokyo University (3rd), POSTECH (4th), Sungkyunkwan University (5th), Tsinghua University (6th), Tohoku University (7th), Kyoto University (8th), Osaka University (9th) and Hanyang University (10th). National universities ranked within the top 75 are △KAIST (1st) △Seoul National University (2nd) △Postech (4th) △Sungkyunkwan University (5th) △Hanyang University (10th) △Yonsei University (14th) △Korea University (15th) △GIST (18th) △Ajou University (21st) △Kyunghee University (23rd) △Ewha Womans University (42nd) △Jeonnam University (51st) △Inha University (54th) △Catholic University (55th) △Kyungpook National University(56th) △Pusan National University (58th) △Jeonbuk National University (60th) △Chung Ang University (64th) △Konkuk University (68th) △Ulsan University (69th) △Yeungnam University (73nd) and Gyeongsang University (74th). 22 universities in Korea ranked within the top 75 followed by 21 universities in China, 19 in Japan, 5 in Australia, 4 in Hong Kong, 2 in Singapore, 1 in New Zealand and India. Read more: https://www.reuters.com/article/us-asiapac-reuters-ranking-innovative-un-idUSKBN18Y24R
Hanyang University ranked 155th in 2017 QS World University Rankings, climbing 16 stairs compared to last year's performance. Hanyang has continued its upward trend since ranking 354th in 2010. The highest ranking among domestic universities was Seoul National University (36th), followed by KAIST (41st), POSTECH (71st), Korea University (90th), Yonsei University (106th), Sungkyunkwan University (108th), Hanyang University(155th), Kyunghee University (256th), Ewha Womans University (299th), GIST(339th), and Hankuk University of Foreign Studies (397th). These 11 universities ranked among the top 400 in the world. The Massachusetts Institute of Technology (MIT) ranked first in the world, followed by Stanford University (2nd), Harvard University (3rd), California Institute of Technology (Caltech, 4th) and Cambridge University (5th). ▶ Source: https://www.topuniversities.com/university-rankings/world-university-rankings/2018
Hanyang University ranked 72nd in the Top 100 Worldwide Universities Granted U.S. Utility Patents in 2016. Hanyang has moved up 20 spots from last year’s ranking of 92nd, thus, has shown outstanding progress this year. The report, which is published by the National Academy of Inventors (NAI) and Intellectual Property Owners Association (IPO), utilizes data acquired from the U.S. Patent and Trademark Office to highlight the important role patents play in university research and innovation. The full report of the Top 100 Worldwide Universities Granted U.S. Utility Patents in 2016 can be found at http://www.academyofinventors.com/pdf/top-100-universities-2016.pdf
The Hanyang University Office of International Affairs organized a field trip to provide foreign students with opportunities to experience Korean culture and help revitalize rural areas. International students from Germany, France, Brazil, Mexico, Turkey and China were among the participants. ▲ Foreign students at Hanyang are making Kimbap at Banguok Village in Danyang-gun, Chungbuk Province on June 4. ▲ Foreign students at Hanyang are making Kimbap at Banguok Village in Danyang-gun, Chungbuk Province on June 4. ▲ Foreign students at Hanyang are making 'Sanchea Mandu' at Banguok Village in Danyang-gun, Chungbuk Province. ▲ Foreign students at Hanyang are making 'Sanchea Mandu' at Banguok Village in Danyang-gun, Chungbuk Province. ▲ Foreign students at Hanyang are making 'Dambukjang' at Banguok Village in Danyang-gun, Chungbuk Province. ▲ Foreign students at Hanyang are making 'Dambukjang' at Banguok Village in Danyang-gun, Chungbuk Province. ▲ Foreign students at Hanyang are painting on a mug cup in Banguok Village, Danyang-gun, Chungbuk Province on June 4. ▲ Foreign students at Hanyang are painting on a mug cup in Banguok Village, Danyang-gun, Chungbuk Province on June 4. ▲ Foreign students at Hanyang are painting on a mug cup in Banguok Village, Danyang-gun, Chungbuk Province on June 4.
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