Euh Yoon-dae
Encyclopedia
Euh Yoon-Dae is a South Korean professor
Professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...

, financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...

, and advisor for the South Korean government. He is currently Chairman of KB Financial Group and of the Presidential Council on Nation Branding, Korea
Presidential Council on Nation Branding, Korea
The Presidential Council on Nation Branding, Korea was established on January 22, 2009 by Executive Decree 21283 with the objective to promote Korea’s global image; to right misconceptions about Korea, its culture, its products, and its people; and to raise respect for Korea so as to support...

.

Childhood and Education

Euh was born in Jinhae City, Gyeongsangnam-do
Gyeongsangnam-do
Gyeongsangnam-do is a province in the southeast of South Korea. The provincial capital is located at Changwon. It contains the major metropolitan center and port of Busan. Located there is UNESCO World Heritage Site Haeinsa, a Buddhist temple that houses the Tripitaka Koreana and attracts many...

, Korea
Korea
Korea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the...

 on 22 May 1945. He earned his B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...

 and M.B.A.
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...

 at Korea University
Korea University
Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

, an M.B.A. at the Asian Institute of Management
Asian Institute of Management
The Asian Institute of Management, or simply AIM, is a graduate school of business and a center of business and management research. It is one of the few business schools in Asia to be internationally accredited with the AACSB. It was established in partnership with Harvard Business School and uses...

, and a Ph.D. in business administration at the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...

. He has received honorary doctorate degrees at Yonsei University
Yonsei University
Yonsei University is a Christian private research university, located in Seoul, South Korea. Established in 1885, it is one of the oldest universities in South Korea, the top private comprehensive universities in South Korea, and is widely regarded as one of the top three comprehensive...

, Waseda University
Waseda University
, abbreviated as , is one of the most prestigious private universities in Japan and Asia. Its main campuses are located in the northern part of Shinjuku, Tokyo. Founded in 1882 as Tokyo Senmon Gakko, the institution was renamed "Waseda University" in 1902. It is known for its liberal climate...

, Griffith University
Griffith University
Griffith University is a public, coeducational, research university located in the southeastern region of the Australian state of Queensland. The university has five satellite campuses located in the Gold Coast, Logan City and in the Brisbane suburbs of Mount Gravatt, Nathan and South Bank. Current...

 and Renmin University.

Career

Euh Yoon-Dae has been recently inaugurated as Chairman of KB Financial Group, Korea's second largest banking group. He was also the first Chairman of the Presidential Council on Nation Branding, Korea
Presidential Council on Nation Branding, Korea
The Presidential Council on Nation Branding, Korea was established on January 22, 2009 by Executive Decree 21283 with the objective to promote Korea’s global image; to right misconceptions about Korea, its culture, its products, and its people; and to raise respect for Korea so as to support...

 from its establishment in January 2009 to 2010.

A former President of Korea University
Korea University
Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

 (2003~2006), Euh also served in various advisory roles for the South Korean government. He was also former Vice-Chair of the National Economic Advisory Council, Chairman of Advisory Board of the Ministry of Education and Human Resources, and sat on the Public Fund Oversight Commission. He served as a Monetary Board Member of the Bank of Korea
Bank of Korea
The Bank of Korea is the central bank of South Korea and issuer of South Korean won. It was established on June 12, 1950 at Seoul, South Korea.The Bank's primary purpose is price stability. For that, the Bank targets inflation...

 as well as a Board Member of the Korea Development Bank
Korea Development Bank
Korea Development Bank is a wholly state-owned policy bank in South Korea It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedite industrial development and enhance the national economy. As Korea’s representative...

. From 1993 to 2004, he served as Policy Advisor for the Ministry of Foreign Affairs and Trade
Ministry of Foreign Affairs and Trade (South Korea)
The Ministry of Foreign Affairs and Trade is in charge of diplomacy for South Korea, as well as handling external trade and matters related to overseas Korean nationals. It was established on 17 July 1948. Until 1998, the ministry was known as the Ministry of Foreign Affairs; its jurisdiction over...

. He was also Chairman of the Steering Committee of Korea Investment Corporation
Korea Investment Corporation
The Korea Investment Corporation is a global investment management company established by the Government of South Korea in 2005 by the Korea Investment Corporation Act. The company manages some of South Korea's foreign reserves, specializing in overseas investments...

 (KIC), responsible for setting policies and reviewing management performance.
Euh was founding President of the Korea Center for International Finance, established in 1999. He previously headed the Korean Academic Society of Business Administration and Korea Monetary and Finance Association.

KB Financial Group (Chairman): 2010~ Current

Euh Yoon-Dae was inaugurated as Chairman of KB Financial Group on July 13, 2010. In his inaugural speech, Euh said the Group needed to slim down and cut costs to achieve its vision of becoming a global bank, and he has launched reforms since then.

Presidential Council on Nation Branding (Chairman): 2009 ~ 2010

Euh Yoon-Dae was chairman of the Presidential Council on Nation Branding
Presidential Council on Nation Branding, Korea
The Presidential Council on Nation Branding, Korea was established on January 22, 2009 by Executive Decree 21283 with the objective to promote Korea’s global image; to right misconceptions about Korea, its culture, its products, and its people; and to raise respect for Korea so as to support...

. He was appointed to this position in January 2009.

The Council was established on January 22, 2009 by Executive Decree 21283 with the objective to promote South Korea's global image; to right misconceptions about South Korea, its culture, its products, and its people; and to raise respect for South Korea so as to support South Korean businesses and nationals abroad through governmental initiated strategies and policies.

Korea University (President): 2003~2006

During his presidency (2003~2006), 12,000 seats were secured within the library (the largest number of library seats amongst Korean universities), one third of classes were conducted in English, the number of foreign exchange students increased sharply, and modern buildings and shopping malls were built.
Despite much advancement, Euh failed to be reelected as president. His critics argue that Euh led the school of extreme market principles and internationalism. Prior to his presidency, English classes only amounted 4%. This figure changed to 34% of total classes at Korea University within the four years of his presidency.
His supporters agree that most international universities value international competitiveness and administer their schools accordingly. Euh has also succeeded in raising 470 billion Korean won
South Korean won
The won is the currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates...

 as a University Development Fund.

Other Experiences

  • 2011~current: Board Member, The Institute of International Finance
  • 2010~current: Member, Bretton Woods Committee
  • 2008~2010: Chairman, Steering Committee of Korea Investment Corporation
    Korea Investment Corporation
    The Korea Investment Corporation is a global investment management company established by the Government of South Korea in 2005 by the Korea Investment Corporation Act. The company manages some of South Korea's foreign reserves, specializing in overseas investments...

     (KIC)
  • 2007~current: Member, Board of Governors, Asian Institute of Management
    Asian Institute of Management
    The Asian Institute of Management, or simply AIM, is a graduate school of business and a center of business and management research. It is one of the few business schools in Asia to be internationally accredited with the AACSB. It was established in partnership with Harvard Business School and uses...

  • 2005~2006: Vice Chair, National Economic Advisory Council
  • 2003~2004: Chair, Advisory Board of the Ministry of Education and Human Resources
  • 2001~2003: Member (Minister), Public Fund Oversight Commission
  • 1999~2003: Board Member, CJ Home Shopping
  • 1999~2000: Founding President, Korea Center for International Finance
  • 1998~2002: Board Member, Hyundai Corporation
    Hyundai Corporation
    Hyundai Corporation is a South Korean company founded in 1976 as part of the Hyundai Group. It is composed of five divisions: Automobile and Electrical Equipment, Ship and Machinery, Steel, Brand Licensing and Commodities, and Natural Resources...

    1998~1999: Board Member, Korea First Bank
  • 1996~1999: Director (Non-Resident), Korea Institute for Public Finance
  • 1996~1997: Board Member, The Korea Development Bank
    Korea Development Bank
    Korea Development Bank is a wholly state-owned policy bank in South Korea It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedite industrial development and enhance the national economy. As Korea’s representative...

  • 1992~1995: Monetary Board Member, The Bank of Korea

Family

Euh Yoon-Dae is married to Jhong Bok-Joo (62), Professor at Ewha Womans University
Ewha Womans University
Ewha Womans University is a private women's university in central Seoul, South Korea. It is one of the city's largest institutions of higher learning and currently the world's largest female educational institute. It is one of the best-known universities in South Korea, and often considered to...

 College of Music with two sons.

Honors and Awards

  • Beta Gamma Sigma
    Beta Gamma Sigma
    Beta Gamma Sigma or ΒΓΣ is an honor society for business students and scholars. Founded in 1913 at the University of Wisconsin, it has over 650,000 members, selected from over 500 chapters in AACSB-accredited business schools...

    , University of Michigan
    University of Michigan
    The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...

     (Ph.D.)
  • The Marquis Who’s Who In The World
  • Asian Institute of Management Triple A Award
  • A Merit, Les Insignes de Chevalier de l’Ordre national du Mérite
    Ordre National du Mérite
    The Ordre national du Mérite is an Order of State awarded by the President of the French Republic. It was founded on 3 December 1963 by President Charles de Gaulle...

    from French Government
  • Order of Service Merit (Blue Stripes)
  • The Most Powerful Business Leaders in Korea Award from Fortune Korea

Books

  • Commercial Banks and Creditworthiness of LDCs (UMI Research Press; Ann Arbor, 1979)
  • The Liberalization of the Korean Capital Markets and the Establishment of the Korea Fund (The Korea Economic Research Center, The Korea Chamber of Commerce and Industry; Seoul
    Seoul
    Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...

    , 1981)
  • Capital Market and Korean Economy, (Maeil Business Newspaper
    Maeil Business Newspaper
    The Maeil Business Newspaper is South Korea's main daily business newspaper. , it had a circulation of roughly 900,000. Their president is Chang Dae-hwan....

    ; Seoul, 1985), Co-authored with Yoonsoo Lim
  • International Finance and Korean Debt (Maeil Business Newspaper; Seoul, 1985), Co-authored with Sarkis Khoury
  • The Characteristics of Balance of Payments and Foreign Debt in Korea (The Korea Economic Research Center, The Korea Chamber of Commerce and Industry; Seoul, 1987)
  • The Korean Financial System and Foreign Influence (Routledge
    Routledge
    Routledge is a British publishing house which has operated under a succession of company names and latterly as an academic imprint. Its origins may be traced back to the 19th-century London bookseller George Routledge...

    ; London
    London
    London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

    , 1990)
  • Impact of Exchange Rate System Change on the Business Management and National Economy (The Korea Economic Research Center, The Korea Chamber of Commerce and Industry; Seoul 1991)
  • A Study on International Capital Market Regulation (International Trade and Business Institute; Seoul 1992)
  • A Study on the Business Restructuring of Korean Firms (The Korea Economic Research Center, The Korea Chamber of Commerce and Industry; Seoul 1995)
  • Strategic Management (Hak Hyun Sa; Seoul 1995), Co-authored with Ho-Yeol Bang
  • International Business (Hak Hyun Sa; Seoul 1996)
  • International Finance (Hak Hyun Sa; Seoul 1997), Co-authored with Yoon-Su Yim

Articles

  • International marketing cases for the book, International Marketing, (2nd edition) by Vern Terpstra (Holt, Rinehart and Winston, Inc., 1978)
  • “International Capital Markets,” a research paper for Booz, Allen and Hamilton with Professor Gunter Dufey (1978)
  • "Capital Structure and Default Risk," The Journal of Management, Korea University (December 1980)
  • "An Empirical Study of Export Subsidies and Their Effects on Export Growth," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (December 1980)
  • "International Capital Markets and Internationalization Strategies of Korean Banking Institution," in Economic Development and Financial Market, Korea Investment and Finance Corporation (1981)
  • "A Note on International Portfolio Theory," Yonsei Business Review, Yonsei University
    Yonsei University
    Yonsei University is a Christian private research university, located in Seoul, South Korea. Established in 1885, it is one of the oldest universities in South Korea, the top private comprehensive universities in South Korea, and is widely regarded as one of the top three comprehensive...

     (March 1981)
  • "Multinationalization of Korean Enterprises," Sang Jang Hyup, Korea Listed Companies Association (1982)
  • "Internationalization Strategies of Korean Securities Firms," The Securities, Korea Securities Dealers Association (1982)
  • "International Capital Markets and Foreign Borrowings Management of Korea," in The Role of Short-term Finance Companies in a Changing Financial Environment, Joongang Investment and Finance Corporation (1983)
  • "International Capital Markets
    International Capital Markets
    International Capital Markets, commonly known as "ICM" or "IC Markets" is an Australian based investment company offering over-the-counter and exchange traded derivative products including direct market access Contracts-For-Difference , foreign exchange and global futures contracts to its retail...

     and Foreign Debt Management of Korea Government," Public Finance Statistics, Ministry of Finance, Korea (1983)
  • "An Empirical Research on Foreign Direct Investment Behavior of Korean Corporations," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (July 1984)
  • "A Study on the Operations of Foreign Banks in Korea," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (July 1984)
  • "Capitalizing on the Hidden Dynamism: The Challenge of Meeting Changing Socio-Cultural Values of Human Resources of Achieving the Maximum Workers' Satisfaction and Corporate Growth," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (September 1984)
  • "County Report - Republic of Korea (PART II, 7)," In Quest of Human Dynamism, (Asian Productivity Organization; Tokyo, 1986), Edited by Shin-ichi Takezawa
  • "The Role of Japanese Finance in Asian Development, V.R.F. Series NO.131, Institute of Developing Economies, (March 1986)
  • "Foreign Direct Investment from Developing Countries: The Case of Korean Firms," The Developing Economies, (June 1986)
  • “The Role of Japanese Financial Institution in Capital Flows," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (August, 1986)
  • "Analysis of Major Industry: Textile, Automobile, (Chapter IV)," The Structure of Development of The Korean Industrialization (Institute of Developing Economies; Tokyo, 1987), Edited by Tamio Hattori
  • "Foreign Debt (Chapter IX)," Theory and Practice of Korean Economies, (Seoul National University
    Seoul National University
    Seoul National University , colloquially known in Korean as Seoul-dae , is a national research university in Seoul, Korea, ranked 24th in the world in publications in an analysis of data from the Science Citation Index, 7th in Asia and 42nd in the world by the 2011 QS World University Rankings...

     Press, Seoul, 1987) Edited by Soon Cho and Hak-Joong Joo
  • “The Liberalization of the Korean Capital Market and the Effect of Issuing International Convertible Bonds on the Cost of Capital of the Korean Firms," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (December, 1987), Co-authored with Young-Jung Cho
  • “Internationlization of Tokyo Financial Market and Its Influence on the International Financing of Korea," The Journal of Management, (December 1988), Co-authored with Ho-Jin Kang, et al.
  • “Internationalization of the Korean Capital Market," Korean Securities Association and Korea Securities Dealers Association, (1988)
  • “The Great Transition of Korean Economies and Monetary Policy," Presented at Academic and Policy Seminar, Sponsored by The Korea International Economic Association, June 1988
  • “Position Paper of Uruguay Round on the Service Secter: Banking and Securities Industry," KDI, Policy Research Paper Series 88-16.
  • "Challenge of Japan (Chapter II)," The Pacific Era and Korea (Korea Institute for Economics and Technology ; Seoul, 1989), Edited by Sung-Soo Hahn
  • “Internationalization of the Korean Capital Market," Presented at a Conference held by Korea Securities Association, October 1988 and also presented at the conference at University of Southern California
    University of Southern California
    The University of Southern California is a private, not-for-profit, nonsectarian, research university located in Los Angeles, California, United States. USC was founded in 1880, making it California's oldest private research university...

    , June, 1989
  • “The Korean Financial System: A Model for Asian Newly Industrialized Countries" Presented at the Annual Meeting of the North American Economics and Finance Association, December, 1989
  • “A Study on the Impact of Exchange Rate Movements on the Foreign Direct Investment,” The Journal of Management, Korea University (April, 1990), Co-authored with Oh-gie We
  • “Impact of Exchange Rate System Change on the Business Management and National Economy,” The Journal of Management, Korea University (1991), Co-authored with Oh-gie We
  • “A Study for Exchange Rate of Short Term Variability on the Introduction of Market Average Exchange Rate System,” The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (April 1991), Coauthored with Oh-gie We
  • “Corporate Financial Management in the Era of the Higher Real Interest Rates,” Sang Jang, Korea Association of Listed Companies (1995.2)
  • “International Financial Strategy under the WTO Regime,” Presented in the Symposium for the Productivity of the Financial Industry held by Korea Productivity Association on June 1995
  • “Business Strategies in the Global Competition Era,” Fair Competition, The Korea Fair Competition Association (1995.9)
  • “A Study on the Financial Effect of Government-led Restructuring of Financially Distressed Firms," The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

     (August 1995), Co-authored with Jae-Seong Bae
  • "Challenges and Opportunities of Korean Financial Institutions under the WTO Regime," Yonsei Business Review, Yonsei University
    Yonsei University
    Yonsei University is a Christian private research university, located in Seoul, South Korea. Established in 1885, it is one of the oldest universities in South Korea, the top private comprehensive universities in South Korea, and is widely regarded as one of the top three comprehensive...

     (1995.8)
  • "The Impact of Financial Reforms on the Capital Markets and Financial Institutions of Latin American Countries," Yangyung Academic Review (1995.11)
  • “Globalization of Asian Capital Markets," Business Review (August 1996) Co-authored with Min-Hwan Kim
  • “The Competitiveness of Korea Banking Institutions in the Process of Informationalization and Openness" Financial Weekly, The First Finance Research Institutes, (1997.1)
  • “Tasks for Development of Korean Capital Markets in the 21st Century" Presented for the Symposium for 20th Anniversary of Korean Securities Supervisory Board (1997.2)
  • "IMF Rescue Fund and Financial Strategy of Korean Corporation" SoGang Harvard Business (May–June 1998 volume 80)
  • “Rapid deregulation led to the Korean crisis," Perspectives on International Financial Liberalization,Discussion paper series 15, UNDP, 1998
  • "The Foreign Exchange Crisis in Korea," Seminar on『Korea : A New Frontier for American Business』(Rothschild Inc, Harvard Business School, and Hyundai Research Institute, June 1, 1998)
  • “The Strategies of Korean Firms in the Changing International Capital Markets Environments: A Viewpoint before the Foreign Exchange Crisis in 1997,” The Journal of Management, Korea University
    Korea University
    Korea University is a prestigious nonsectarian, private research university located primarily in Seoul, South Korea, and one of the SKY universities, a historical acronym used in South Korea to refer to Seoul National University, Korea University, and Yonsei University. Founded by Lee Yong-ik in...

    (October 1998)
  • “Strong Yen and The Asian Economy,” Realignments in Industrial Countries: A Challenge Facing Emerging Market, Deutsche Bank (Washington D.C.) September 1999
  • “An Empirical Analysis on the International Sourcing Practices and Determinants of Korean Manufacturing Firms Investing Abroad,” (International Business Journal, Vol.10 No.1), October 1999
  • “In Search of a Stable Currency System in the 21st Century,” Institute for International Monetary Affairs (Tokyo), December 1999
  • “Korean Financial System in the Global Age,” The Future of Korean Financial System in the New Millennium, (The Symposium for the 50th anniversary of the Bank of Korea), June 2000

External links

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