|▲ Han Jung-hwa, Business Administration Professor at Hanyang University Business School|
Suggesting roadmaps for Korean venture and SMEs
Professor Han majored in business administration at Seoul National University and gained both master and doctoral degrees in the same field from University of Georgia, US. He served as the director of the Korea Institute for Industrial Economics and Trade, and played an advisor’s role to the government organizations and the Korea Venture Business Association. He also served as the 13th Minister of SMEs and Startups from March 2013. In recognition of his contribution to the development of Korean SMEs, he received the 2nd KBIZ Awards for SME Heroes held at Lotte Hotel Jeju on June 21, co-hosted by the KBIZ and the KBIZ Love Sharing Foundation. “I’m honored to receive this valuable prize in the category of academic research. I’ve spent nearly 30 years in research and I feel overwhelmed that my contributions are well paid off today” said Han in his thank you remarks. As a talented scholar and an expert in the field, Han has released 40 papers themed on venture enterprises and books including <The Ways to Topmost Companies>, <Venture Startup and Management Strategy>, <Seven Surviving Strategies in Times of Recession>, <The Power of Entrepreneurship> and <The Power of Korean SMEs> which are still being used as roadmaps for many ventures and SMEs of Korea. In recognition of his contribution to development of Korean venture businesses, Han received a presidential citation at the Venture Business Fair in 2000 and an Industrial Citation at the Venture Korea in 2009.
“New economic paradigm is needed”
As a scholar, Han emphasizes on the importance of business ethics and of social interaction whenever he stands on the university podium. His recent paper <Paradigm Switchover of Korean SMEs Policy> published by the KASBS points out the Korea’s more than necessary dependency on conglomerates and its economic structure so he urges the need of new paradigms, and suggests new level of discussions on the issues. “I felt that the Korea’s economic structure is like a slanted ground when I was serving as the SMEs and Startups Minister. To make it even, I thought a new economic paradigm was needed first. The Moon Administration’s Income-Led Growth is a good economic policy in terms of its initiative but it might lead to adding a burden to small and medium business owners. What my solutions for now are cutting off unfair trade deals and expedient donation of properties commonly practiced by conglomerates while pouring part of efforts in building a new economic structure” says Han.
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