Chun Jin Suk, AIM Alumni Achievement (Triple A) Awardee in 1993 is one of Korea’s most successful banking executives, and is a true philanthropist at heart. He has spent the latter part of his outstanding career leading different banks that are part of the same organization, the Hana Financial Group, before attaining his position as Vice President of Hana Bank in Korea. Retired since 2002, he is currently spending a great deal of his time with two foundations that care for children and the elderly: Nursing Home for Elders and Child Care Center.

When asked about his career attainments, he quickly enumerates the various banks that he has worked for, almost dismissively, with emphasis that they were all part of the same organization.  The pinnacle of his career was in 2002, when he reached CEO level for Hana Commercial. He jokes that now he has a lot of free time on his hands, hence the reason for him being so deeply involved in two very noble social welfare organizations.

As Lawrence D. Bell once said, “Show me a man who cannot bother to do little things, and I’ll show you a man who cannot be trusted to do big things- clearly Chun Jin Suk is not among the number of men who belong to this breed and ilk.  “In Korea, we need to take care of our elders,” he shares.  He further explains the plight that most modern Korean families experience today, with the need for both parents to work to provide for their families. Unfortunately this takes a toll on domestic life. In today’s Korea, the reality is this: that being left to stay at home to take care of the young and the elderly has become a luxury in society.  And Chun Jin Suk’s compassion for the young and the elderly is clearly reflected in his passion, now that he has the luxury of time in his hands.

The Road to AIM

Chun Jin Suk’s easygoing manner belies the long road known only to men of his stature.  His story in AIM begins when S.Y. Kim, Chairman of what was then known as Korea Investment and Finance Corporation (KIFC), which later became Hana, recommended the Asian Institute of Management to Chun. S.Y. Kim was four years Chun’s senior, and he valued this great man’s advice highly. He fondly recalls Kim’s words: “AIM is an Asian regional school, a proper business school.” Even then, AIM’s reputation was not only having top notch teachers, but having the best material as well. Along with Kim’s brother- in-law, who himself is now a professor in the University of Alberta in Canada, Chun’s lifelong partnership with AIM began its early stages. He credits a lot of his success to the fact that he completed his graduate studies at AIM. Chun also recalls that the one fact he knew then was that if you were from the Asian region and you wanted to do well, you had to go to AIM.

When asked what experience he remembers most about AIM, Chun breaks out into boisterous laughter.  He shared good naturedly that he had a hard time with the course mainly because of the language barrier.  Not to be deterred so easily, Chun went to the Philippines a full three months before his actual AIM studies were scheduled to take place, to take English language classes.  And to be perfectly honest, Chun Jin Suk’s proficiency in English is more than sufficient to be perfectly understood. This comes as no surprise to anyone in the AIM community and the whole of the Asian business world as well; AIM Triple A Awardees just seem to do well in most of the endeavors they embark on. With his typical good humor though, he admits that having to learn a completely new language, while trying to apply it with an already formidable business course to begin with was “more than very difficult.” The road that Suk traveled was difficult indeed.

Chun describes the first six months of studying as “like hell”.  He would remain awake until the early hours of dawn all by himself, tirelessly pursuing his goals in what seemed like the most agonizing, drawn out period of his life.  Thankfully after six months of this hellish routine, Suk grew weary of being alone, always on the brink of exhaustion and loneliness as his sole companion.  He brought his family over from Korea, to live with him in a foreign country that for all intents and purposes, was an entirely new and alien world for all of them.  His two daughters, who were no more than three and four years old at the time, came to share in his dream. And Chun says that for all the hardships that he had to go through, someday all the sacrifices will reap huge rewards for himself and his budding family’s future.

Memorable Professors and Friends

He relates that his most valuable experience in AIM was having Professor Leni Panganiban as coordinator, always encouraging him to keep pushing, despite having very low scores in his tests.  It was from this esteemed figure in the AIM that he was able to learn that not giving up was just as important, if not even more so, than all the professional knowledge that any single person could ever hope to amass in a lifetime.

He also has a great deal of respect for the professor that gave him his hardest time in AIM, Professor Ed Morato. Chun speaks of the professor in very high regard, calling him as his idea of a model professor.  Much to his surprise, Chun was able to get a high grade from Professor Morato, who was “really brilliant, knew just what to expect, and what not to expect from his students.” Professor Ed Morato’s hard methods were something that greatly helped Chun Jin Suk   in his career.  Also among the most memorable of his teachers was Gaby Mendoza, who was his professor in Finance.  “Dean Bernardo was also very kind to me,” says Suk. “He was the one who encouraged me to apply for scholarship funds.”

Chun Jin Suk has a lot of special memories of his classmates, and he is especially thankful to his roommate, Mengie Capistrano (now based in Hong Kong). In comparison to Chun he was significantly younger- young enough to have his father drop and check up on the young Capistrano from time to time. It was from them that Chun experienced firsthand the Filipino way of welcoming even the most casual of acquaintances as though they were a part of their own family. Future Filipino roommates were Willy Yang, who now lives in the United States, and Dennis Reyes. Members of batch ’79 that Chun could easily recite from memory were Lilit Lim, Mon Martinez, Boboy Mendoza, and Carmell dela Rosa. These people were of tremendous help to him, especially in his studies.

The local custom was apparently different from back home in Korea- although Chun was rather pleased, if not a tiny bit surprised; he was overwhelmed at the amount of kindness he received from the people of a foreign country. Again the language barrier makes corresponding too cumbersome and time consuming, even with the convenience of the internet. But Chun would like to keep in touch more often with fellow AIM graduates from the batch of 1979. He also remembers a great number of his foreign classmates from Taiwan, Thailand, and Indonesia, including the fact that like him, the people from these countries also had a problem communicating with other people through a proxy language.

A World of Risk and Success

Among the numerous things about management that Chun Jin Suk learned in the AIM, practicing good communication skills among everyone involved greatly helps in solving problems as well as minimizing avoidable and costly mistakes.  Chun says that he also vastly improved his risk-taking skills through his situation analysis lessons at AIM. His years at the institute made it clear to him that the world of business will forever be a world of risk.

His AIM degree was a great boon for Chun Jin Suk when he faced one of the biggest challenges of his long and successful career: entering a newly invested, newly established, new industry during his time in the Korea Investment and Finance Corporation (KIFC). Even the Chairman, S.Y. Kim had to go to Bancon himself to get firsthand experience and learn more, and emulate an investment bank in the private sector. Every bit of Chun Jin Suk’s AIM education proved to be of tremendous value to himself and to KIFC, for they were successful in this revolutionary type of bank in a new market that they had to develop themselves.  Chun was able to perfect a style of management that concentrates on shareholders and clients’ needs. This style is based heavily on transparency and social responsibility, and showing respect to each and every member. From the very start, they provided quarterly reports for all the investors. In his line of work, not only was it important to be honest, but it was also important to be the best. “It was important to be the best… No, we HAD to be the best,” Chun reiterates, emphasizing ‘being the best’ with a forceful change of pitch in his voice each time he mentioned those three words with that all-important meaning.

In 1983, the government approved the transfer of KIFC from an investment bank into a commercial bank. Unfortunately in October of the same year, the President of Korea visited Rangoon, then the former capital of the military junta, and seventeen policy makers including deputy prime minister and economic advisor to the president were killed in an ambush . This prompted the Korean government to revoke their previous approval, basically telling KIFC to go back and stick to small banking businesses. Indirectly this was a huge blow to Chun, since it was his idea for KIFC to expand in South East Asia, despite the great risks involved.  They had to wait for eight years to try again, and by this time KIFC had converted to what is now known as Hana Commercial Bank.

In 1991 they were allowed to do commercial banking once again giving Hana Bank the distinction of being the practically first commercial bank to be owned privately. All of this can ultimately be traced back to Chun Jin Suk’s efforts, proving what a special breed of person an AIM Triple A Awardee truly is. Chun says that during this process, which took place in the span of sixteen years, he was able to predict outcomes because of highly-developed skills mastered during his studies at AIM. Chun states that the period between Hana’s evolution, was one of the most dynamic, fast-moving, and challenging periods of his professional life.

In 1996 Chun’s high level of expertise took him on a three-week, around-the-world road show. He was invited to talk about Global Depository Receipt (GDR) to a wide range of people in many different countries.  This was three years before the inception of the euro into the global stage, and before that time, it was the US dollar which was accepted as the global currency. Chun Jin Suk was able to foresee the need for regions such as the European Union to share a common currency. Today, over  three-hundred million Europeans’ day-to-day lives are dependent on the euro as currency, and an almost equal amount of people from all over the world use money, in some form or another, directly tied to the euro.

To say the least, the skill that Chun Jin Suk possesses which he calls “the power of insight”, borders on near mystical proportions.  In 1999 Chun was put in charge of acquiring a small bank. At first he was reluctant to do so, but after getting over his reservations, the acquisition of that small bank proved to be a very profitable venture. Projects personally overseen by Chun Jin Suk have a high-rate of success, truly no less than being the best is what’s deemed as satisfactory by the distinguished alumnus’ standards.

Doing the Job Well

Chun is frustrated by people who are too set in their ways, and have the inability to change their minds. On more than one occasion, this frustration put him at odds with some of his elders and higher-ups. Being the leader that he is, Chun was even given a special citation by the government for a job well done, despite him having to put up with opposition from people who didn’t like to work with government agencies, fighting him almost every step of the way. As befits the humble manner of Chun, he admits that doing his job well is much more satisfying than getting recognition. He cites that the recent global financial collapse happened because of certain people who didn’t know how to do their jobs properly. As a result, he says, a large percentage of the banks are either bankrupt or in the brink of bankruptcy. In Korea, an investment company that Chun acquired for Hana Financial, Choong  Chung  Bank, was one of those that were able to avoid bankruptcy despite not being a large bank- in fact they only number around a hundred branches, the majority of which are mostly provincial.

The 1997 Asian Financial Crisis was very profitable for the Hana Financial Group. Under Chun’s vision, the Hana Financial Group was able to acquire many banks and financial companies at a very low price. Tasked with integrating the merging of all the new acquisitions of Hana Financial into their corporate structure, Chun manages this grand task by implementing the Hana corporate culture. Nearly all of these purchases were done based on Chun’s recommendations.

Chun Jin Suk considers the chairman of Hana Financial, S.Y. Kim as the ideal manager. He takes a lot of his leadership style from Kim’s own. Transparency, brilliance, and  “human touch” are the qualities of an ideal leader according to Chun.  Finding a man with all these three qualities is a rare occurrence, something that happens to a select few of every generation. Chun Jin Suk is one of the few fortunate enough to have all of these characteristics; for all his great achievements, this AIM Triple A Awardee is living proof that great souls are followed by great things.

Going forward, Chun Jin Suk wishes to maintain his current “happy” routine of hearing daily mass, visiting the Nursing Home for Elders and the Child Care Center twice a week and playing golf twice a week. After accomplishing so much in the financial sector, he has now different kinds of challenges and missions ahead of him for the people who are in need of help.  We wish him the very best and more for his future and his missions!

The AIM Asian Immersion Program of the Washington SyCip Graduate School of Business last September 2010 was a marvelous occasion to learn about a fascinating neighbor whose people are known for their intense fortitude resulting in an impressive economic growth that has been referred to as the East Asian Miracle.

Korea is remarkable not only because of the great strides it has taken to develop itself, but also because of its people’s tenacity and perseverance. An American professor who has stayed in Korea for most of his life, Prof. Joe Dewberry of KAIST University identified two key traits in the Korean psyche: the first being what they call Han. Han is a kind of bitter resentment drawn from the colonization of their country by the Japanese in the Second World War. The other value is called Gi. It is taken from the Chinese Qi and means vigor, energy and strength and stamina. Koreans take the fire from their angst, Han, and use it towards productive ends. Another Korean characteristic is the need for speed, called pal-ri (pronounced pa-li) A trait borne out of necessity in a time of war, today’s Koreans act quickly and decisively, making fast decisions. While this trait is desirable within the country, people of other nationalities may not necessarily understand this characteristic, causing agitation with Koreans away from their native land.

Perhaps one of the most apt imagery that validates this intensity as a people was when their past president, Park Chung-hee was delivering a speech in August 1974 to celebrate the nation’s freedom from Japanese colonial domination. An assassin fired a gun at Park from the front row but the bullet missed the president and hit his wife Yuk Young-soo instead. Park continued his speech as his dying wife was carried off the stage so as not to give the enemy the satisfaction of the moment.

Although many countries were devastated by World War II, Korea’s struggle to rise above its turbulent history resulted in three decades of astonishing growth, driven by its peoples’ strengths and determination. Now the 13th largest economy in the world from being one of the poorest agrarian economies in the 1940’s, Korea’s success story has culminated in a position in the Organization for Economic Cooperation and Development (OECD) in December 12, 1996.

The country’s accelerated postwar growth was fueled by exports, high rates of savings and investment, and an education boom which has resulted in technological advancement, industrialization, rapid urbanization, and a brisk rise in living standards. This phenomenon has been referred to as the Miracle on the Han River, in reference to the “Miracle on the Rhine”, which was used to describe the economic rebirth of West Germany after World War II . From a per capita GNP of less than $ 100 after the Korean War in 1953, it has now risen to US$ 10,543 at current prices.

One could say that today, Korea has the best of the market – but it also had the worst. After the Korean War, the country could barely support itself with its exports; today, its GNP is over US$ 400 billion. Literacy was also low, at a meager 30%; nowadays, 99.8% of the Korean population is literate.
Korea commands a considerable chunk of today’s markets; however, the lower prices of Korean products are usually their defining trait. While this may seem good to consumers, for Koreans, this is a source of dissatisfaction. They are caught in a ‘sandwich’ between Japan and China: the former marketing high-quality, high-tech, high-value goods, and the latter producing high-volume, low-price, medium-quality products. Just to compete, Korean businesses have had to slash prices by up to 30%, branding Korea as a ‘cheap market’. While Koreans understand that this is a component of competition in today’s economy, it is nonetheless a situation that bothers them, part and parcel of moving from the backwater to being a global economy.

Remarkably, the advance in the Korean economy was matched by a great hunger to move forward in society. To address rapid globalization and to secure a better future for their children, Koreans desire to master the English language and to send their children to study overseas. This has become the norm in the Korea of today – a practice so common place it has its own social connotations, such that it is a parent’s responsibility and ultimate goal to bring their child overseas to learn English and acquire an advanced education.

This strong emphasis on education is one of the key factors to Korea’s success. A Korean proverb “One should not step even on the shadow of one’s teacher” defines the country’s high degree of respect for its educators. This hunger for higher education is also a nationwide response to globalization, so that Korea could be on the same level as other countries.

This has resulted in a reverse trend where the father stays in the country and the mother and child are sent abroad for the studies. They joke about the father, on whether he is a goose or penguin. The goose represents the richer kind of paternity, where the father flies to meet with his family abroad. The penguin refers to one who cannot join the family overseas. It has become such a widespread phenomenon and a reverse OFW occurrence.

With advances in healthcare and the emphasis on studying abroad, unique problems have been created in Korea such as an aging population and multi-cultural marriages. As more and more members of the population go abroad to study or settle in urban areas, mismatches in marriage occur because of the conflicting educational levels of the partners. 25% of marriages in the countryside are mixed marriages with Chinese and Filipinos, which lead to social and cultural problems.

Another concern of Korea is how to integrate its citizens into the global community. Prior to the phenomenon of globalization, Korea was a Confucian society, homogenous and concerned only with its own affairs. That radically changed in the 70’s, when English began being taught and the concept of a worldwide society was introduced – a notion that was initially met with much resistance – and has become paramount today. A Korean professor and AIM alumnus, Sang-kee Min had shared that the country had almost, if not completely failed to train its people in the conduct of the international community – to teach the typical Korean student that there are others in the world who think, act, and feel differently and to accept them, as well as to live in a way acceptable to global citizens. In this regard, Prof. Min acknowledges that Koreans have a lot to learn from the Filipino people, who are better able to mingle with whatever cultures they are immersed into.

That is their objective – to be loved and appreciated. There is a campaign spearheaded by the government itself, with AIM alumnus Euh Yoon Dae leading the National Branding efforts, using media to address both the economic ‘sandwich’ and the psychological objectives, as well as greatly improve Korea’s image in the global community. A great many of their universities are now internationally accredited due to Mr. Euh’s efforts as former president of the Korea University. As a leader of change, he increased English taught classes from 20% to 60%, raised USD400 million in four years and made Korea University one of the top 200 in three years.

Our AIM alumni in Korea such as Euh and Min, as a result of their training, are more global in perspective. They are making large contributions to their society, shifting the paradigm, and making big differences in their own ways. But they realize that the rest of the country needs to shape up and improve their image so that the rest of the world will not misunderstand them.

With its meteoric rise in the global economy, Korea has many lessons to share with the world, as well as to learn to address unique issues brought about by rapid economic change. As the first non G-8 country to chair the Group of 20 (G20) this November, Korea recognizes a breakthrough in the country’s history as it addresses global financial issues along with the powerful economies of the world.

South Korea had one of the world’s fastest growing economies from the early 1960s to the late 1990s. South Koreans refer to this growth as the “Miracle on the Han River,” basing it on the growth of Seoul. South Korea is heavily dependent on export and is the 8^th largest exporter in the world. Korea’s growth was spurred by rapid industrialization and an adoption of an outward-looking strategy. As South Korea has low natural resource endowment, low savings rate, and a tiny domestic market, this export driven strategy promoted economic growth through labor-intensive manufactured exports, in which South Korea could develop a competitive advantage. Government initiatives played an important role in this process. The inflow of foreign capital was greatly encouraged to supplement the shortage of domestic savings. These efforts enabled South Korea to achieve rapid growth in exports and subsequent increases in income.

In my opinion, the creation of Chaebols has been a primary factor of growth for South Korea. Though they have many disadvantages as well, these Chaebols can act as vehicles for growth. A chaebol can be defined as a business group consisting of large companies which are owned and managed by family members or relatives, in many diversified business areas. In Korea, as the global competition increased and barriers to entry for labor intensive products from the Third World heightened during the 1970s, the focus of the Korean economic policy was shifted towards heavy and chemical industries. This was the period when the Korean government intervened in the allocation of resources and channeled resources to specific industry sectors to boost the economic growth. This period also saw the birth of Korean chaebols. As financial institutions (especially banks) were under quasi-government control, the government was able to have these banks loan huge amounts of money to these chaebols. Such a favorable government policy resulted in many businessmen starting industries which later morphed into conglomerates or chaebols.

This concept can be replicated in other developing nations as it creates private companies whose purpose is to grow and make profit, but still benefit the entire nation in terms of employment and increase in GDP. In the nineties the top five chaebols (Samsung, Hyundai, LG, Daewoo and SK) accounted for more than 50 percent of Korea’s GDP and the top 30 chaebols for 75 percent of all economic activity in Korea. One might say that this system is flawed and leaves money in the hands of the few, but it also leads to overall growth of a nation as well, as seen in Korea’s case. This system did undergo a slight change in the 90’s during the Asian crisis wherein the South Korean economy saw a rapid downsizing and reconstruction – not only of economic policies, but also the underlying philosophies of Korean Chaebols. The result was Korean giants like Samsung and LG have become lean profit making machines. The Korean policy on foreign direct investments has only fuelled the growth further and allowed healthy competition. Samsung and Hyundai compete on an international stage, and have really helped the “Miracle of Han” be a reality.

Other developing nations could emulate this model of using families and organizations to fuel growth, as long as the government has control to some extent, or where it rises to healthy competition. This system allows families who are capable of running large businesses to expand and grow and carry the country on their shoulders.

Recently, Korean reforms have converted the Chaebols into professional organizations. For example, in the twenty-first century, the new model for corporate governance ensures proper surveillance from both inside and outside the firm. The decision making power is being shifted from the dominant family to a board of directors that represents the greater number of shareholders. This will allow for more open market policies. But overall, this phase of growth, from using almost government extension organizations into private open market firms is a great way to move from being a developing to a developed nation.

Korea is one of the most familiar countries for me.  I was exposed to the Korean culture and people many times with the image of Korea as the closest country to Japan in terms of distance, culture, and race.  As soon as I arrived in Seoul, I was surprised about how the commercial cities now look like our cities in Japan. I found a big change since the last time I visited Seoul about seven years ago. This time, my view of the city, including the shape of the buildings, the people, and the fashion were becoming so much like Japan. This was not my impression of the country during my last visit. This time, I felt like I had come back to my home country.

Through the Asian Immersion Program, I found out that Korea is now much like Japan because of its rapid economic growth.  If I had seen the situation in Korea 30 years ago, I probably would not say that Korea and Japan are alike. Korea’s rapid economic growth occurred during this short term.  Although historically, Korea had conflicts with Japan and China, Korea became successful and developed their country in this short period. Thus, Korea now is now experiencing problems similar to Japan in terms of economics and demographics.

From the presentation of Mr. Lee from KB, I learned that Korea is now having a problem with an aging society, low growth of actual GDP, and a language and culture barrier for foreign funds.  These problems are common in Japan.  However, it seems that Korea will be better able to manage this situation compared with Japan.  Investments in education and efforts to boost international relationships will allow Korea to gain higher potentials to overcome this situation.  Korea has a clear view of this goal to achieve development and create a global awareness of its success.

The presentation of Prof. Joe Lawrence from KAIST helped me to understand the difference between Korea and Japan. The Korean mentality is based on “Gi” and “Han” meaning, take the bitter experience and turn it to the power of growth.  This explains a lot of things. I had been wondering why Koreans have a strong personality compared to Japanese. Why Korean cities could be both modern and conservative at the same time. They are more aggressive to develop their country, and to affirm their success. They were required to be open.  However, they had to change in a short period of time. I saw a lot of advanced electronic technology all over the town; even the mall map had high technological functions.  Even Japan is not like that.  In a sense, I felt that they wanted to show off how much they have developed to everyone, including those outside of their country. They have to create awareness that they are a successful country.  This may sound a little cynical, but it seems that they are trying to change themselves so quickly that the gap between different age segments and different economic segments are getting wider.

Japan’s success happened within 60 years, and now we are still struggling with low economic growth, a high aging population, and a low birth rate. Korea is now faced with the same situation after 30 years, just half of the time that Japan took to develop. As a Japanese national, I have a lot of things to learn from Korea.  Their hunger for achievement, the strategy to achieve their goals are good models for Japan to learn from.  And I believe we can work together closely to solve the common problems.

This year, AIM welcomes students from South Korea–Jaehoon Oh, Suk Hwan Kim and Jin Young Kim. They belong to MBA Cohort 6 and will be graduating in 2011.

Jaehoon Oh earned his degree in Agricultural Economics from Korea University. Prior joining AIM, he has worked for Kumkang Corporation, a fashion brand in Korea, as an assistant manager in the Planning and Coordination Division, a financial manager in the Indonesian Branch,  and for PT Bosung Indonesia, a manufacturer of boxes and shopping bags in Indonesia, as a purchasing manager. As a manager, he encountered a lot of challenges along the way and has learnt a lot from his experiences. But for him, he firmly believes that he needs a strong foundation to become a more effective manager, and AIM being in line with his goals, is the best Institution which can hone him to becoming one. Like most of the students, Jaehoon took time to adapt to the new environment. “However, being around professional people–fellow students, professors and members of the AIM community, made it easier for me to gain confidence. I believe that each day will be a better one,” he says.

Suk Hwan Oh earned his degree in Hospitality Management in Enderun College. After graduating, he served as a casino agent in Running Mate Inc. and Majesty’s for three years. To support his future endeavours, he decided to enter AIM, which he believes is an outstanding graduate school that will help him reach the top. Having lived in the Philippines for a long time, Suk Hwan stills enjoys meeting new people. Like any other student, he devotes his time studying hard to build his strong foundation to be competitive in the industry.

Jin Young Kim earned her degree in English Area Studies in Han Kuk University of Foreign Studies. She then served as an overseas analyst in Shin Han, an art material manufacturing company, for two years. To be well equipped with excellent management skills, she decided to enter AIM. Like Jaehoon Oh and Suk Hwan Kim, she also works hard to meet the requirements needed for her studies. In spite of the hectic schedules and heavy workload, she still finds time to have leisurely trips in nearby provinces or just enjoy a short walk across AIM and do some shopping. Jin Young Kim has a grateful heart and wants to help and serve people from the lower class of the society and hopes to be a part of organizations such as UNICEF and ADB.

Television dramas from South Korea are a hit everywhere!  From Japan to China, Hong Kong, Taiwan, Southeast Asia, North and Latin Americas and even in the Middle East and Africa!  Dubbed in the local languages of the importing country, Korean dramas have become so popular it now has legions of fans addicted to these series reflecting the Korean culture and society, loaded with fast-paced writing, beautiful sceneries, latest fashion and whose lead characters are always played by goodlooking actors with perfect set of teeth and skin.

Hallyu and Bae Yong-Joon

The Korean Wave, or ‘Hallyu’ as they call it here in Korea (할유 in Korean), is the term used to describe the popularity and influence of Korean entertainment and entertainers overseas: Korean pop music and singers, movies, television dramas, Korean actors and even products.

One of the most popular of the Korean dramas that ever hit the Philippines is Winter Sonata, whose lead actor, Bae Yong-Joon, has achieved a god-like status in Japan, where women of ‘a certain age’ (you know what I mean) worship him like, well, a god! They call him Yon-sama, a name that denotes the highest respect, and if you don’t know who he is, just visit a Faceshop store. His face is all over the place; he’s the guy in a white shirt and spectacles, holding a bouquet and flashing that perfect smile which welcomes women, enticing them to buy Faceshop products.

The success of these Korean dramas usually results in a windfall for its lead actors who are offered lucrative endorsement contracts for products marketed in Korea or in another country where he or she has won fans through the drama.

In Seoul, even if you’re not a fan, you would still know if the current TV drama is a hit because the lead actor’s face is all over the city.  Lee Min-Ho, who played Gu Jun-Pyo in Boys Over Flowers, was on posters plastered at donut shops.  Other successful actors would be seen on TV selling products ranging from coffee, clothes, make-up, cell phones, apartment units and of all things, insurance.

K-Pop Music

And aside from the dramas, Korean pop music also has its own following, although it’s mostly for the younger generation represented by grade schoolers, teenagers and fans in their 20’s, who I’m sure can always pronounce the tricky Korean names of the individual members of the girl and boy bands. Some solo artists though have unique names: Rain (or Bi in Korean), Se7en (yes, the number) and BoA (not the reptile); and members of boy bands such as Big Bang (not the theory) such as G-Dragon (not the string) and T.O.P., which are easier to remember. I guess since the real Korean names of these entertainers are very common in Korea, they opted for foreign-sounding ones in order to stand out.

And when it comes to naming a group, the talent management companies have to come up with unusual names like Mblaq, SS501, Shinee, Super Junior, Big Bang, FT Island, CNBlue, TVXQ for boy bands; and Girls Generation, Wonder Girls, Jewelry, Secret, 2NE1 (Sandara Park’s group), and T-ara for girl groups, to name just a few, because with so many bands (I think one debuts every other week!), the fans should be able to remember the ones with unique names; although I’m not too sure as to the logic behind the naming of the two boy groups, 2AM and 2PM. I guess they were created within 12 hours of each other.

And when they have cute names, these members should also look pretty and handsome because that’s what the screaming fans like. With these boy groups trying to outdo each other in terms of costumes, hair style and makeup, they almost look androgynous; while the girl bands compete as to who has the biggest hair, thickest makeup, shortest skirts, sexiest choreography and catchiest tune.  And some groups having eight or more members, they look like cheering squads on stage, instead of singers.

And did you ever notice that all members of these girl bands seem to look the same?  In addition to their vocal coaches, costume designers, choreographers and makeup artists, they also have their cosmetic and dental surgeons to thank for.

And speaking of K-pop music, who can forget that song Nobody, Nobody from the Wonder Girls which was played everywhere?  One time, I was on a bus here in Seoul when that song played over the bus’ radio when I noticed a girl in her high school uniform on the front of the bus moving to the tune while seated with her hands dancing to the choreography. The song was almost over when she realized she missed her stop! She frantically pushed the ‘Stop’ button and loudly asked the driver to let her off.  She did get off, but didn’t finish her performance.

Let’s go back to the dramas.

Korean drama fans

And just like most of the Korean drama fans in the Philippines, the ones in Korea never forget the time slots of their favorite dramas. They either watch it at home, in their cars, at restaurants, at the gym while on the treadmill, or at their mobile phones (through digital mobile broadcasting) while on the bus or in the subway on their way home.

And for the international fans who can afford, they travel to South Korea to visit the locations where the dramas were filmed. Nami-seom (Winter Sonata), Hongdae (Coffee Prince), Namsan Park (Lovers in Paris), and of course, Changdeokgung (Jewel in the Palace) are just a few locations where fans head to.  And most of them also visit the Namdaemun Market where they buy their Korean drama souvenirs to bring home.

The Philippine-South Korea Free Trade

But one fan in Manila, Cielo, who happened to be a good friend, could not get enough of her idol, Bae Yong-Joon, that she asked me to buy his poster and have it sent to Manila in return for a dozen Mary Grace ensaimadas, which she learned was my favorite. I told her the ensaimadas were enticing, but buying the poster would involve a certain amount of embarrassment for me since I was a guy and was worried how would the shopkeeper at Namdaemun Market think of me as I buy another guy’s poster. She immediately doubled the quantity!  And in return, I bravely bought it and had it flown to Manila!

With this, I realized that all these years the trade between the Philippines and South Korea actually does not just involve tourism, agricultural products, manpower, cars, electronics, minerals and English lessons.  With the involvement of Hallyu, new trading partnerships are created! Though not between huge corporations, it’s still a trade!  While Cielo was ecstatic with her Bae Yong-Joon poster, I enjoyed the Mary Grace ensaimadas, which she sent through a friend flying to Seoul.

There may have been other countless trading partnerships between the Philippines and South Korea involving Lee Min-Ho, Girls Generation, Super Junior, Kim Bum, Shinee or Won Bin posters, and some Philippine delicacies. The two countries have been friends since 1949, and that friendship, strengthened by economic, cultural and social exchanges throughout the decades, has been even made stronger by Hallyu, Bae Yong-Joon and some yummy ensaimadas.

Did you know that among the developed countries, South Korea’s obesity rate ranks the lowest? According to the Organization for Economic Cooperation and Development (OECD) poll in 2009, South Korea’s obesity rate is at 3.5%, followed by Japan with 3.9% percent, and the United States with the highest overall obesity rate with 34.3%.

As obesity becomes widespread around the globe, “with more than 1 billion adults overweight—at least 300 million of them clinically obese” according to the World Health Organization, the Korean menu is worth exploring. Koreans are generally thin but they definitely love to eat. So it really must be in their food that helps them stay lean.

Koreans compared to Westerners consume more vegetables than meats in a usual meal. They serve a wide variety of vegetables, which are often uncooked, in the form of salads and pickles. And their food is often very spicy. It has been known that chili peppers contain substances that help burn extra calories.

Kimchi. Named as one of the World’s Healthiest Foods by Time Inc.’s “Health” magazine, this healthy and low calorie banchan (side dish) and main ingredient for many popular Korean dishes, prevents obesity and works wonders with dieters. One of kimchi’s main ingredients, dried chili peppers, contains capsaicin, which boosts metabolism and reduces hunger signals. Also, since kimchi is fermented, it forms healthy bacteria that promote lactic acid. Lactic acid, according to the National Center for Biotechnology Information, prolongs endurance, promotes healthy metabolic function, and regulates digestion. Korea boasts more than two hundred types of kimchi.

Bibimbap. We all know the low-calorie, low-fat and high fiber benefits of eating vegetables. Bibimbap is packed with namul (seasoned vegetables), served with gochujang (chili pepper paste) on top of a bowl of white rice—all stirred together thoroughly before eating. Vegetables commonly used in bibimbap include cucumber, doraji (bellflower root), gim (seaweed), gosari (bracken fern stems), mu (daikon), mushrooms, spinach, soybean sprouts, and zucchini. Sometimes egg, dubu (tofu) or sliced meat are added. Having a vegetable-heavy diet is a filling and healthy way to lose or maintain weight.

Samgyetang. Samgyetang or ginseng chicken soup is a variety of guk (Korean soup). A whole young chicken stuffed with glutinous rice is boiled in Korean ginseng broth with jujube, garlic, and ginger. This traditional dish is believed that it can both cure and prevent physical ailments. Known for its revitalizing effects, samgyetang is being exported in 11 countries. It is sold as a ready-to-eat packaged food that is very popular in Japan, Australia, Taiwan and Hong Kong.

Bulgogi. Grilling is far healthier than other methods of cooking meats because more fats are removed. Bulgogi, one of Korea’s famous grilled dishes made from marinated beef sirloin, is cooked on a bulgogi grill that looks like ”a perforated inverted wok” (Steven Raichlen, ”The Barbecue! Bible”). Letting the fat drip off the sides of the griller can surely help control your weight.

To eat bulgogi, wrap beef in lettuce with rice, kimchi, other garnishes and doenjang (bean paste) for flavor. Dak bulgogi is made with chicken and dwaeji bulgogi is with pork.

Gochujang. Studies show that adding spice to your food aids weight loss. Gochujang, a red, spicy paste made of red chili powder, glutinous rice powder, fermented soybeans, and salt, boasts a healthy amount of vitamins and nutrients, and more importantly, capsaicin, which inhibits fat cell growth and kills hunger. Researchers discovered that regularly adding capsaicin to meals can significantly help lose those excess pounds. So pass the chili paste!

Ginseng. Korean ginseng has shown promise as a health supplement for centuries. From treating diabetes to erectile dysfunction, this medicinal root is recognized for its unique healing properties. Korean ginseng is also believed to be a weight loss wonder. Studies show ginseng boosts metabolism and reduces blood-sugar levels. Reduced blood sugar results in less production of insulin, the hormone that signals the body to retain fat.

Although most Korean dishes are served in individual servings, many Koreans typically share meals. The Korean food culture, where many people eat together and share food, believe that sharing food strengthens relationships. By adapting this eating culture, we not only develop communal solidarity among family and friends, but also acquire healthy eating by helping you “slow down, savor the food, and consume less,” according to writer Roxana Wells in South Korea.

References:

http://www.ehow.com/how_5649198_lose-weight-eating-korean-food.html

http://www.nytimes.com/1999/08/01/magazine/food-grill-in-chill-out.html

http://www.foodbycountry.com/Kazakhstan-to-South-Africa/Korea.html

http://www.associatedcontent.com/article/277367/the_advantages_and_benefits_of_grilling.html?cat=22

http://www.ehow.com/how_2083166_use-ginseng-lose-weight.html#ixzz10n6vBODb

The writer returned to Manila five pounds lighter after the one-week AIM Asian Immersion Program in Seoul. Her meals were always satisfyingly full but surprisingly, she still shed off some weight. Because of Korean food? Definitely.

by Regnard Raquedan, MBA 2001

Korea’s de jure national sport is Taekwondo, but ask Koreans what occupies their collective recreational time and the answer is most likely to be StarCraft.

StarCraft is a wildly popular personal computer (PC) game in South Korea. The game has sold over 11 million copies globally and South Korea accounts for almost half that number. There are professional video gaming leagues that draw thousands and being a full-time gamer is actually a profession in the country. Only in South Korea is a national love affair with a video game possible.

Released in 1998 by Blizzard Entertainment, StarCraft is a space-themed Real-Time Strategy (RTS) game where players command battle units of different alien races to defeat opponents. The battle units belong to the Terran, Protoss, or Zerg factions and each type of unit has its unique abilities, as well as having its distinct set of strengths and weaknesses.

In the game, players can play through different missions and campaigns against the default Artificial Intelligence (AI) or compete against other players in the multi-player network mode. The unique game design of StarCraft has significantly contributed to its immense popularity in and out of the PC Bangs (what gaming cafes are called in Korea).

StarCraft’s popularity is also boosted by the fact that roughly 90 percent of South Korean households are wired to high-speed broadband Internet and there around 25,000 Internet and gaming cafes scattered throughout the country. With an “always online” culture pervading in the country, a video game becoming a fixture in the online scene is not entirely surprising.

But what is surprising is the extent how far StarCraft has managed to stretch its presence beyond the personal computer in South Korea.

Apart from being a pastime, StarCraft is big business and bringer of career opportunities in the country.  According to the Korea Creative Content Agency (KOCCA), the video gaming market is expected to be worth $5.5 billion in 2010 with a 17 percent growth rate.

There are two major StarCraft national leagues where gamers can turn professional and get paid for playing StarCraft full-time. This career move, while unheard of in other countries, is good turn for Koreans. This year, the average annual salary of a professional StarCraft player is approximately US$ 60,000. (The average annual salary in South Korea is $16,291). Lim Yo-Hwan, regarded as one of the all-time the top players in the StarCraft leagues, is said to have earned more than $1 million at the height of his popularity in the 2000’s.

These StarCraft tournaments are treated as big events. StarCraft holds the Guinness World Record for the largest audience in a gaming competition, when 120,000 fans attended a national finals in Busan in 2005. Professional gamers that dominate the national leagues ascend to public celebrity– the same way basketball players are revered in the Philippines and cricket superstars are idolized in India and Pakistan.

Other sectors in Korean society also made their own plays for StarCraft. The Korean army and navy created their own StarCraft professional teams to attract more recruits. Television feature shows that replay StarCraft games, with a couple of channels exclusively showing only video gaming content. In 2005, there was at least one Korean television channel showing a StarCraft game at any given time. Korean Air emblazoned several of its 747 planes with the StarCraft logo as a support to the booming e-sports culture in the country.

StarCraft also penetrated the academic life in South Korea. Cyber-universities have sprung up where students learn game-planning and other high-tech subjects, and that includes mastery of StarCraft. This becomes an appealing option for a lot of aspiring professional gamers as enrollment in such cyber-universities postpones mandatory military service.

This phenomenon is permeating outside of South Korea. The University of Florida approved last August 2010 a course called “21st Century Skills in StarCraft” that aims to “teach valuable 21st Century Skills through a hands-on approach.” The course posits that key StarCraft gaming skills such as critical thinking, problem solving, resource management, and adaptive decision making will translate into practical use beyond the game.

Moreover, scientific research are backing what the folks at South Korea and the University of Florida are on to. A study from the University of Rochester found that playing action video games conditions people to make the right decisions faster. In addition to the key finding, the study also found that playing video games improves a general skills such as multitasking, driving, reading small print, keeping track of friends in a crowd, and navigating around town. Korean professional gamers have been known to perform hundreds of  game actions per minute.

Despite the boost StarCraft has provided to to South Korea’s grand cyber community, growing pains of a wired society have started to show.

Online addiction is a serious problem in South Korea– according to the government, about two million South Koreans — nearly one in 10 online users — are addicted to the Internet. In 2005, a man collapsed and died of exhaustion after playing a StarCraft almost non-stop for 50 hours. In a more shocking case, a man was sentenced to two years in prison after he and his wife allowed their three-month-old daughter to starve to death while they raised a virtual child in an Internet cafe.

But Korean society is moving forward– the government has implemented measures such as controlled Internet connection for underage game players and a Korean medical research facility has been testing a drug called Bupropion that claims to reduce gaming addiction among StarCraft players. The Starcraft leagues continue to pour in money as they set a new records in giving the biggest prizes in gaming competition.

South Korea’s decade-long love affair with StarCraft can never be found elsewhere. It carries an intensity that borders on national passion and cultural obsession– from the smokey PC bangs to the grand big stadium gaming events, from sleek computer monitors to the television screen, from the Internet gaming addicts to the the glamorous professional video gamers.

With the release of StarCraft 2: Wings of Liberty last July 2010, StarCraft will continue to fascinate South Korea for years to come.

The global mindset of this highly distinguished Korean national aptly took root during his two years of study at Asia’s first global-standard management school: the Asian Institute of Management.

Relating how he got to know and enroll at the Institute, Mr. Euh Yoon-Dae, MBM 1973 recounts, “At the time I was [working] for USAID… and then the president of AIM (Prof. Fuller) dropped by the office here in Korea. Through the controller of Korea USAID, I was informed that there will be a school which will be sponsored by USAID and Harvard. They mentioned that the school will be very similar to Harvard Business School so it should be very good.”

Even then, at a young age in 1971, Mr. Euh espoused an international mindset already. “At that moment I was thinking of becoming a business person. So if I go to the ASEAN area, Philippines or wherever it is, Singapore or Malaysia, I thought I could make a lot of friends there. Also, personally, I would be exposed to different cultures and different economies. I could be one of the first persons who knew all about Asian countries.”

Mr. Euh enjoyed his two years at the Institute – and he has the fondest memories of people and instances to show for it. His roommate, Rene Azurin  and another friend, Bruce Sugiura, “were very outgoing. They had many friends and girlfriends, too,” he spills the beans.

But his most memorable experience was when a friend, Teddy Villanueva, broke his arm in the popular Filipino men’s sport, arm wrestling. Mr. Euh, a lefty, can never forget the pale look in Teddy’s face when it happened. He was immediately brought to the nearby Makati Medical Center, where he stayed for five very important days – because the class was scheduled for midterm examinations at that time.

Even then, Mr. Euh had no problem communicating in English. He always had a dictionary in hand and his experience with USAID helped him a lot. But his accent then is not like what is now, which, according to him, is “very Korean” sounding.

Mr. Euh appreciated the innovative case method style employed at AIM. “We did not have that kind of case method teaching at that time in Korea,. Also, compared to other Asian people, Japanese and Korean are shy. They never talk in class. My two-year experience there  was really a stepping stone not only in the theory of business but also in learning how to communicate. I felt that really the method was good.”

After graduation, “I returned to Korea and worked in Collin for two years, an accounting firm. At that time I had an argument with a student who was taking MBA. I was arguing AIM is better, mainly because of the composition of students who shared ideas. For one, I couldn’t sleep preparing for the cases.”

He also argued, “At that time, AIM was the business school in Manila.” It definitely was able to establish a strong domestic reputation first, before its international prowess, according to Mr. Euh. And AIM had another advantage: At that time no other global-standard management schools existed in Philippines, Singapore and Hong Kong, unlike now.

Fast forward three decades, and the global roots that took shape during Mr. Euh’s stint at AIM bloomed to a regal flower when he was inaugurated as president of his alma mater, Korea University, in 2003.

His inaugural speech was groundbreaking: “I want to make [Korea University] the best in the world.” But sadly, perhaps “Nobody believed me in my speech,” he says in hindsight.

As one of his university reforms for global status, he instituted that official class languages be in English and Korean. “Now around 38% of classes are conducted in English, at business school, 60%. The Korean advantage is [its] bilingual [nature],” Mr. Euh declares.

His reason for this radical change is “very simple. Before, if you want to be the CEO of Hyundai Motor Co., with your factory located in Busan in Korea and total sales went to Korean people, you don’t have to learn English.

“Now, look at the world market with the location of plants in India, US, China, Tokyo. Without communication skills how can you become a CEO? And if you look at the sales profile of LG group, 80% come from the world market.”

To set the pace for his globalization plan, he made a bold move—he sent all of his 300-member staff to universities all over the globe for a two to three-week stint. This was “to make them prepared about what they’re doing, but before sending, [they have to] research about what [these universities are] doing.” It was a cultural shift in a sense: before you can change the mindset of the students, you have to inculcate a global and inter-cultural mindset first among university professors and staff.

But the global wanderings did not end there. University students were sent abroad for at least one semester for an exchange program with partner universities. “Your teaching is good and then you can learn English, but that is not enough. We just want our students internationalized so that they know how to assess oneself to different cultures and accommodate different cultures,” Mr. Euh recounts.

As such, Korea University students flew to Vancouver, Brisbane and other cities. Chinese students started flocking to their campus, however, “no one wants to go to China,” he says of his students. With such a vibrant exchange program, “I have become the only Korean honoree of China because of my generosity,” Mr. Euh declares.

The immediate results within the next few years are proof that Mr. Euh did a spectacular job. Korea University became one of the 200 best universities in the world, according to Duke Times Publishing in London, two and a half years after his inauguration. Now, it’s among the top 150 universities, even “better than Georgetown University. That has become quite an accomplishment,” Mr. Euh proudly shares.

As the old saying goes, copying is the ultimate form of flattery. “Because of what I have done, all other Korean universities followed suit.”

Mr. Euh attributes the strong ranking to the University’s Equis accreditation and their prestigious roster of professors. KU has “90 full time faculty, all foreign educated. All have Ph.D.’s; all have teaching experience abroad.”

But the high rankings are not his only achievement. He was able to raise US$400 million during his trips in and out of the country for the University Development Fund. According to him, there are “Good reasons why you should raise money. And maybe friends will give money to you if there are results.” And he had strong results to back up his claims for the further improvement of the University, their professors and students.

He claims that his team had no problems dealing with donor companies. As the University fulfilled the donor companies’ needs, they always argued that KU will give back in terms of results. “The result is very important,” Mr. Euh points out.

After he stepped down as KU president in 2006, another global challenge emerged for Mr. Euh. He was appointed chairman of the KB Financial Group that year and the Presidential Council on Nation Branding three years later.

In a speech during his inauguration at KB, Korea’s second largest banking group, Mr. Euh vowed to cut costs and achieve its vision of becoming a global bank.

During this interview, he recounts his vision for KB: “Within two years, this will become the best, finest institution within Korea.” To hit the ground running, “Already, we started a task force team of the 90 best employees. I have recommendations on more than 40 tasks,” this results-oriented executive says.

As the chairman of the  Presidential Council on Nation Branding since its formation in January 2009, Mr. Euh’s main objective is “to promote Korea’s global image; to right misconceptions about Korea, its culture, its products, and its people; and to raise respect for Korea so as to support Korean business and the nation abroad through governmental initiated strategies and policies,” according to a Wikipedia entry.

One of his main challenges in this government post is the constant flux of the Korea brand, which he says is changing because of the infusion of more cultures, mainly due to intermarriages of Korean men with Chinese, Vietnamese, even Filipinos.

There’s also the sandwich approach to Korean products: with China being low cost, Japan on the high-end range and Korea right in the middle.

When asked how he will be successful in both positions, Mr. Euh says, “The important thing of course is knowledge. That is why I have studied at AIM. And experience. But that is not enough. We need more things; I call it leadership. Self-dedication without any personal interest.”

When this global expert executive was asked about what significant changes can be done at AIM, he says, “Now everything has changed, so you must keep pace with change.” As for generating interest among individual and company donors, he has one simple advice: “You should make AIM the best in the Philippines. If there are other good [institutions], then why should you give money to AIM?”

The day that this interview transpired, Mr. Euh was scheduled to attend next day ceremonies at Korea University, to culminate his professorial and administerial duties after reaching the retirement age of 65. Most likely, he would have received honors and platitudes from the University and his colleagues, considering his globally renowned achievements in the University when he was president.

Needless to say, nothing less than excellent results was expected of this AIM Triple A Awardee from 2001.

After years of dedicated service to the Institute, Ramon del Rosario, Jr., Narzalina Lim, Jake Almeda Lopez, Felipe Alfonso and Br. Armin Luistro  earned their well-deserved relief from their responsibilities as members of the Board of Trustees. I am sure the alumni join me in thanking them for the stewardship they exercised over the Institute during a period of some difficult challenges.

The retirement of these Trustees paved the way for the appointment of more alumni to the Board.  The alumni already had board representation through Datuk Ir. (Dr.) Mohd Annas Hj. Mohd Nor (MM 1984) and Joselito Yabut (MBM 1979).  Datuk Annas has been chairman of the Federation of AIM Alumni (FAIM) since 2004 and president of the Kelab AIM Malaysia (KAIM) since 1997.  Lito Yabut, president and director of A.L Yabut Management & Development Corporation, is the current chairman of the Alumni Association of AIM, Philippine Chapter (AAAIM).    Jesli A. Lapus  (MBM 1973) had just stepped down as Department of Education Secretary.   Roberto V. Garcia (MBM 1973), who had been president of RAMCAR, executive vice president of the Federation of Philippine Industries, as well as president of the Philippine Quality and Productivity Movement, is taking time for his entrepreneurial ventures.  Bobby Garcia and the third new alumni Trustee Ricardo Pascua, formerly  Vice Chairman/President and Chief Executive Officer of Metro Pacific Corporation and Vice Chairman/President and Chief Executive Officer of Fort Bonifacio Development Corporation, had already committed time to the Institute; both retired from the Finance and Investment and Audit Committees of the AIM Scientific Research Foundation to join the AIM Trustees.  Napoleon Nazareno (MBM 1973), president of the Philippine Long Distance Telephone company and Smart Telecommunications, was elected as a Trustee in 2005. Equally reflective of the decision to give the alumni greater voice in the governance of the Institute was Poly’s appointment as Co-Chair of the Board, a post he will hold with Joey Cuisia.

The greater role of the alumni in AIM governance comes at an opportune time.  The Institute is going through a period of transition that institutions must inevitably face.  Periodic renewal is necessary, not least in the physical infrastructure of the institution.  After over four decades of operation, some renovation is in order.

The Institute has benefitted from faculty who have made life-time commitments to its service.  But death and retirement have taken their toll.  Faculty numbers have dropped in the last ten years from a high of 60 to just over 40.  The faculty needs reinforcement and renewal.

Apart from internal challenges, the external environment is also making demands on the Institute.  The field of management education in the region has become crowded with competitors.  With education becoming a global enterprise, competition is coming from within and from outside the region.  The increasing number of players has made accreditation more important, with the metrics becoming more transparent and more rigorous.

The alumni realize that addressing internal and external challenges, necessary to strengthen the AIM brand, requires financial resources, and have begun to mobilize to raise them. As the new chair of the AAAIM, Lito Yabut  helped launch series of Breakfast Meetings at AIM to brief alumni about developments in the Institute and how they can be of assistance. Their goal to raise PHP10M through these meetings is modest but, if achieved, will represent an increase of annual alumni individual giving from 1 percent to 10 percent alumni giving.

We have begun to see an increase in relative numbers of alumni giving through our online facility (www.aimalumni.org). A wonderful surprise came just recently, by way of a long-lost alumnus from Taiwan, Malvan Hwang (MBM 1974) who visited the AIM campus 36 years after his graduation, and any contact with his classmates. Malvan donated US30,000. as a scholarship gift on the same evening.

During the recent Asian Immersion Program in Seoul, South Korea, five alumni donated W1,000,000 each to the AIM Alumni Leadership Fund for Scholarships: Former FAIM Chairperson Tae Sook “Sugar” Han (MBM 1984), Triple A Awardees Hong-Soo “Henry” Lee (MM 1979) and  Chun Jin Suk (MBM 1979), AIM Alumni Association-Korea Chairman Chang Yoon “Johnny” Jeong (MBM 1980)  and Hyun Oh “Mikael” Cho (MBM 1985).

Oscar Lopez, Chairman of the Lopez Group Foundation, whose family helped establish and sustain AIM, recently reminded the alumni that “It is time for those who have benefited from an AIM education to give back to the institution.”   The reminder carried greater weight, coming as it did on the formal announcement of a fresh donation of PHP25M from the Lopez Group Foundation for the renovation of the lobby and caserooms and offices on the ground floor of AIM’s main building.

The alumni are responding, and their response both demonstrates and justifies their potential role in AIM governance.   We are all heartened by  the display of alumni concern for the Institute and look forward to working with them to maintain and enhance the value of the diploma they hold.

Edilberto de Jesús