South Korean beauty trends have played a huge role in reshaping the global beauty industry in recent years. From using snail secretions in night creams to creating cushion foundations, South Korea is dominating global cosmetics.
Amorepacific is a multi-million Korean beauty behemoth that has taken these innovations in the world stage. Carrying brands such as Sulwhasoo, Laneige, Innisfree and Etude House in its portfolio, Amorepacific recently hit an all-time high of USD 1.69 billion in overseas sales in February this year despite difficult business conditions.
In 2017, Min-jung Suh, eldest daughter of Amorepacific Group Chairman Suh Kyung-bae started working as a rank-and-file employee at the company. Read about her MBA journey at Cheung Kong Graduate School of Business (CKGSB) in this article.
Min-jung Suh completes her MBA degree at CKGSB
Since Min-jung Suh, the eldest daughter of Amorepacific’s founder and chairman, returned to Korea after completing an MBA program at Cheung Kong Graduate School of Business (CKGSB) in China, her return has been the focus of public attention.
Min-jung graduated from Cornell University and started her career as a consultant at Bain & Company. After joining Amorepacific in January 2017, she left the company in June of the same year to enroll in CKGSB MBA course in China.
Min-jung’s decision to move to China was widely viewed by the industry as part of Amorepacific’s long-term strategy to solidify its position in China, one of the key markets for company, especially given how network defines the fundamental dynamics in conducting business in China.
Network is a crucial system of belief in Chinese culture. It is a defining cornerstone of personal connections, relationships or social networks. It is usually placed before the system, regulations, and procedures.
As it is known that it is almost impossible to successfully run a business in China without considering network, the chief executives in China also emphasize the importance of network.
Many Korean entrepreneurs have early on learned the customs and culture in China, and have chosen to study in China to lay the foundation for smooth business activities in China.
CKGSB, where Min-jung Suh graduated from, is China’s first non-profit private business school set up by Li Ka Shing Foundation, located in Beijing, China. One in five CEOs at China’s top 500 corporations are part of CKGSB’s alumni network.
Also, CKGSB is one of the best business schools in China with an excellent alumni network with over 14,000 alumni, mostly comprised of C-suite executives at China’s leading enterprises, including Mayun, Chairman of Alibaba Group, Shi Yuzhu, Chairman of Giant Group, and Li Dongsheng, Chairman of TCL.
Based on the fact that CKGSB alumni dominates 20% of the leadership positions at China’s top 500 companies and over half of the alumni are C-suite executives, the industry analyzes that CKGSB offered valuable opportunities for Min-jung to establish deep relationships with prominent business executives in China.
The industry is now watching how Min-jung performs in her role with the network and insights she developed during her time studying in China.
About Cheung Kong Graduate School of Business
Cheung Kong Graduate School of Business (CKGSB) is China’s first independent, faculty-governed and non-profit business school. Founded in 2002 with support from the Li Ka Shing Foundation, CKGSB’s mission is to cultivate business leaders with a global vision, a humanistic spirit, a strong sense of social responsibility and an innovative mindset.
CKGSB has a campus in Beijing, teaching sites in Shanghai and Shenzhen, and representative offices in Hong Kong, London, and New York. The school offers innovative MBA, Finance MBA, Executive MBA, Business Scholars Program (DBA) and Executive Education programs.
Learn more about CKGSB here.
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