Admission Report for IE

Youngtae-Hong This report is solely for the use of MBA Admissions for IE, personnel.

No part of it may be circulated, quoted, or

reproduced for distribution

without approval.

2013. Feb

I learned so much from a “war”- a war of at least 50 customers

queuing in front of my father’s restaurants (he owns three

upscale Japanese restaurants), and my not being able to go to

the bathroom from 9AM to 9PM because I am so busy.

Restaurants can become like

BATTLEGROUND.

I learned about business and life from a

WAR

Super tough,

frugal father = a v e r y g o o d m e n t o r

I started helping with the family business from a

very young age since my father wanted to train me

in a way. After leaving behind his successful hotelier

career to open up the first restaurant when I was in

my first year in high school,

my father always raised me in

a very business-like manner: He made me work for every penny to educate me.

All in all, I worked on and off during 17 years

(almost full-time in case of vacations). I waited and

bussed tables, washed piles of dishes, and peeled

onions for hours.

In fact,

my father never treated me any differently from any

of his other employees.

Not many colleagues found out that I am the

owner’s son. I loved working with them – my

colleagues.

I must have interacted with over 10,000 customers and 400

employees. And the list of all that I experienced while

working with so many people is just as long.

For example, because our restaurants are very high end, our

regulars include former presidents, senators and many other

high ranking government officials as well as the Who-is-Who of

the Korean business community. Their needs can be

drastically different and very particular. But even the regular

customers, who number thousands, have different needs.

Our regulars included the

former presidents of Korea.

I also learned so much from

my colleagues.

Over

10,000 customers

INTERACTION

Over

400 COLLEAGUES

TAUGHT ME

D I V E R S I T Y & T E A M W O R K

• I am just amazed by all that this

• AMAZING WORLD has to offer.

I traveled to 50 cities in 30 nations,

and all different parts of Korea

LONDON 9month for

language course

EUROPE 11nations for

Backpack trip

KOREA Climbed

INDIA

&CHINA Operated IT

Benchmarking

Program

US Internship in

San Jose in

2000, Traveled

in L.A and

Mexico

SF Negotiated

about Venture

Capital

Companies at

2011

comfortable

with diversity

As a curious cat, my job at the KPC which entails developing new

business models really suits me

And I also love creating something from scratch

Smart

Enterprise • Developed ‘Smart

Enterprise Consulting

Package’

• Developed ‘Work Smart’

processes and IT enablers

to revamp working space

and working habits

• Developed ‘Smart Work

Maturity Model’ for

evaluating Company’s

Status and guiding

Venture

Capital

• Secured 200mil USD for

the next three years, to

incubate Korean start-ups

in the U.S., providing all

kinds of services including

marketing, patenting and

product development, to

cater to the U.S. market,

by allying with one of the

top 3 VC companies in the

U.S.

• Secured another 300mil

USD to train up and rising

companies in Korea

Mobile

Strategy • Consulted to develop

Mobile-Seoul Policy

Guideline Master Plan

• Business Process

Analysis and design

guideline for Mobile-

governance

• Developed evaluation

model for M-Public

services

IT+

Construction • Developed National

ubiquitous Strategy and

National ubiquitous

investment management

framework

• Assessed viability for the

development of 1 Trillion

USD Ubiquitous-City (U-

City) nationwide

• Performed over 10 pan

strategy plan for local

governments

Moreover, turned our training function into a cash cow

But I have miles to go .. Snapshot of my career goal

VC

Ecosystem

Silicon

Valley

Of Korea

• Operating venture

incubating division

• Educate, mentoring,

evaluate, and funding

• Operate Born-to-

Global camp for

launching in the U.S.

• Need to develop a

platform for venture

markets

• Connect VC with

developers

• Concentrate on

contents and platform

• Cooperate with global

educational

institutions like IE

• As the CEO of KPC

• Asia’s major

Technology Hub, like

the Silicon Valley and

Bangalore Valley

• Link with global

markets including the

European and Asian

markets

Bridge People &

Technology

IE will help me get there My Goal is to bridge people and technology

Venture

Capitalists

& Company

KPC

Univ.

partners

including

IE

• I want to revamp the KPC to change some of the other chronic problems we have.

• For one, I want to us to help those from other countries as well.

• we can because we have some strong levers For instance, we are very affordable, and thus many small companies benefit from our service. If only if we improve, the room for our contribution could expand significantly as well since we have very comprehensive set of data on almost all the

companies in Korea, piled up during the last 60 years.

• So, I need to polish myself first

• IE’s Venture Lab program is very attractive

• IE’s Entrepreneurship & Innovation Center

is very impressive as well

I want to

revamp

the KPC

IE is

Perfect

for me

You are Perfect fit

for me!

In sum, if someone asks me,

Why? Why go that extra mile?

I will say for increased quality of life – ability to work smarter and faster to go and

have dinner with your family members (at least, in case of Koreans since they are so over-worked)

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