Childhood and Education
Euh was born in Jinhae city (now Changwon), Gyeongsangnam-do, Korea on 22 May 1945. He earned his B.A. and M.B.A. at Korea University, an M.B.A. at the Asian Institute of Management, and a Ph.D. in business administration at the University of Michigan. He has received honorary doctorate degrees at Yonsei University, Waseda University, Griffith University and Renmin University.
Recently, Euh Yoon-Dae served 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 from its establishment in January 2009 to 2010.
A former President of Korea University (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 as well as a Board Member of the Korea Development Bank. From 1993 to 2004, he served as Policy Advisor for the Ministry of Foreign Affairs and Trade. He was also Chairman of the Steering Committee of Korea Investment Corporation (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.
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. 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.
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 as a University Development Fund.
2011~current: Board Member, The Institute of International Finance
2010~current: Member, Bretton Woods Committee
2008~2010: Chairman, Steering Committee of Korea Investment Corporation (KIC)
2007~current: Member, Board of Governors, Asian Institute of Management
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
1998~1999: Board Member, Korea First Bank
1996~1999: Director (Non-Resident), Korea Institute for Public Finance
1996~1997: Board Member, Korea Development Bank
1992~1995: Monetary Board Member, The Bank of Korea
Euh Yoon-Dae is married to Jhong Bok-Joo (62), Professor at Ewha Womans University College of Music with two sons.
Honors and awards
Beta Gamma Sigma, University of Michigan (Ph.D.)
The Marquis Who’s Who In The World
Asian Institute of Management Triple A Award
Distinguished Alumni of the Year by Kyung-gi High School
A Merit, Les Insignes de Chevalier de l’Ordre national du Mérite from French Government
Order of Service Merit (Blue Stripes)
The Most Powerful Business Leaders in Korea Award from Fortune Korea
Dasan Finance Prize from Financial Services Commission and Hankyung Daily (2012)
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, 1981)
Capital Market and Korean Economy, (Maeil Business Newspaper; 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; London, 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 (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 (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 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 (July 1984)
"A Study on the Operations of Foreign Banks in Korea," The Journal of Management, Korea University (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 (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 (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 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 (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, 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 (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 (August 1995), Co-authored with Jae-Seong Bae
"Challenges and Opportunities of Korean Financial Institutions under the WTO Regime," Yonsei Business Review, Yonsei University (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 (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
