CKGSB Profs Share Insights on Building Asia’s New Economic Paradigm at Korean Forum

October 20, 2016

CKGSB Founding Dean Xiang Bing, Professor Zhang Weining and Visiting Professor Cho Dong-sung called for a new cooperation paradigm among China, Korea and Japan, the three representative economies in Northeast Asia, sharing their insights on China’s role at a recent international forum hosted by renowned Korean business newspaper Aju Business Daily.

Renowned Korean business newspaper Aju Business Daily hosted 8th Global Green Growth Forum on Sept. 28-30 in Seoul, with the theme of “South Korea, China and Japan Open Asia’s Creative Visions”

Amid intensifying low growth trend this year, the global economy is demanding for a new economic paradigm. Many economists voice out that the new paradigm should be led by Korea, China and Japan, the three leading Northeast Asian countries, as they have emerged as a significant pillar of global economy.

CKGSB Founding Dean Xiang Bing, Professor Zhang Weining and Visiting Professor Cho Dong-sung delivered strategies and possible synergies created from collaboration of three Northeast Asian countries, and China’s possible role in the new paradigm, at the 8th Global Green Growth Forum (GGGF), held in Seoul from September 28 to 30 under a theme of “New Paradigm Led by Korea, China and Japan Opens Door to Asia’s Creative Vision.”

A panel discussion on “Past, Present and Future of Northeast Asia: China, Korea and Japan” was held at the opening session, with (from left to right) Professor Katherine Choi of Seoul School of Integrated Sciences and Technologies (aSSIST) as a moderator; Dean Xiang Bing of CKGSB; and Nobuyuki Idei, founder and CEO of Quantum Leaps Corp. and former Chairman of Sony Corp. Visiting Professor Cho Dong-sung of CKGSB and President of Incheon National University also participated in the discussion.

Over 400 attendees joined the forum with audience members and speakers from industry, academia and political circles across Asia all showing interest in China insights suggested by CKGSB professors and exchanging views with them. Speakers at the forum included Chinese Ambassador to Korea Qiu Guohong, Hideo Suzuki, the minister and deputy chief of the session at the Japanese Embassy in Seoul, and Nobuyuki Idei, founder and CEO of Quantum Leaps Corp. and former Chairman of Sony Corp.

In his speech, Dean Xiang Bing (above) stressed that role of the three countries is growing into a significant factor in the global economy, with the trio accounting for nearly 15 percent of global GDP. The Chinese economy, Dr Xiang said, is also shifting to a consumption-led growth model.

He stressed the three countries have to aim higher while remaining optimistic about the future, saying that Asian nations should move proactively to tackle global issues, not simply remaining a follower of the Western world. He added that the three nations can advance by learning from each other, for instance, benchmarking Korea’s experience of transforming from a manufacturer to high-tech technology developer and Japan’s sustainable development model.

CKGSB Visiting Professor Cho Dong-sung, also president of Korea’s Incheon National University, gave a speech in which he said that the three nations should expand economic cooperation via joint projects such as business clusters with shared values and goals, so that Northeast Asian businesses can take leading positions in this new era of capitalism.

On the second day of the forum, Professor Zhang Weining of CKGSB delivered a one-hour special lecture on Internet-driven entrepreneurship in China and how it is shifting the start-up scene. Prof. Zhang mentioned this year as a turning point for Internet start-ups in China, as new business models like the integration of traditional manufacturing and O2O industries have started to flourish. Zhang advised start-ups to tackle niche markets which the existing Internet giants haven’t yet reached out to using data technologies and human-oriented contents. Online influencer marketing strategies (网络红人) on live-broadcasting platforms can be a great opportunity for Korean entrepreneurs, Zhang emphasized.

CKGSB has maintained a close relationship with Aju Business Daily, a Seoul-based global business daily published in four languages: Korean, Chinese, English and Japanese. Dean Xiang Bing was interviewed by the publication in June where he shared his latest insights about the status of the Chinese economy and introduced CKGSB as China’s most research-focused business school.

To read more about CKGSB insights offered at the forum, please click here

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