Article Korea Joongang Daily: Pioneering institute will study Korean business

Article Korea Joongang Daily: Pioneering institute will study Korean business

New on-campus initiative from George Washington University groundbreaking

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George Washington University, one of the first American colleges with a large Korean KMI Article Pic [5]enrollment and an extensive alumni network, will establish the first institute dedicated to studying the management of Korean companies and share the results with American officials and entrepreneurs.

The university’s School of Business will announce the launch of the Korean Management Institute at its annual GW October Entrepreneurship Conference.

“The primary purpose of the institute will be to learn from the Korean experience,” Paul M. Swiercz, a mangement professor at the GW School of Business who has been named executive director of the institute, said in an interview May 24. “The country recovered from post-war devastation to become a world-class economy, and there must be lessons there.”

As an American researcher, Swiercz is intrigued by Korea’s development of its economic “ecosystem.”

“One of the things that most fascinates me is the unique business ecosystem that Korea has had to create from almost nothing,” he said. “One of the key elements in the system is the very gifted leaders who have a vision about the future. Also, there was the work force, and the critical role of education and the sacrifices of families to permit the high level of education.

“Another part of the ecosystem is the willingness of Koreans to work with and learn from other successful enterprises, such as the partnerships with Japanese companies, especially in sectors such as automobiles and electronics.”

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