Stony Brook University Business Management

If Galaxy Phones Become Global Wallets … Korea Could Become the Core of the Digital Currency Ecosystem In 1971, U.S. President Richard Nixon declared the suspension of the gold standard, effectively dismantling the Bretton Woods system. At the time, the dual burdens of fiscal deficits caused by the Vietnam War and expanding welfare programs, along with current account deficits due to the oversupply of global liquidity, were key factors. This so-called "twin deficit" issue became a structural bottleneck for the U.S. economy. In the 1980s, the U.S. addressed this problem through the radical measure known as the Plaza Accord. These recurring twin deficits have since served as a critical factor intensifying tensions surrounding the U.S. dollar's hegemony — a cycle that the U.S. now finds itself trapped in once again. The U.S. has traditionally managed fiscal deficits by issuing Treasury bonds, a practice similar to the past. However, a new development has emerged: foreign governments, including major East Asian nations, have become reluctant to purchase U.S. Treasuries. This lack of participation has forced the U.S. to face mounting upward pressure on interest rates. At this turning point, the U.S. has unveiled a new strategy: stablecoins. By institutionalizing digital assets, the U.S. aims to generate new demand for dollars among global private sectors — individuals, corporations, and fintech ecosystems. Even if foreign governments no longer buy U.S. Treasuries, this approach would encourage private actors to hold and use dollars in digital form. In doing so, the U.S. is effectively designing a new system of "digital petrodollars." Although this strategy appears to champion decentralization and technological innovation, its underlying intention is to preserve U.S. monetary dominance. The goal is to expand the influence of the digital dollar by moving beyond foreign-exchange-reserve-based demand and fostering blockchain-based asset holdings and payments among private entities. However, this poses a fundamental threat to the monetary policy autonomy and foreign exchange regulatory tools of open economies. In particular, the stablecoin market operates on a peer-to-peer (P2P) structure, where capital movements can occur instantaneously, often rendering traditional financial regulations ineffective. If domestic companies and individuals come to prefer holding dollar-denominated stablecoins over the Korean won as a means of preserving assets, conventional financial systems and policy tools could be rendered powerless. Before this transformation fully takes hold, Korea must adopt a strategic perspective to address these challenges and proactively prepare for the changes that lie ahead. Article Source: https://www.mk.co.kr/news/business/11421950

    The SUNY Korea Business Management Department is excited to announce its participation in the Incheon Beyond Classroom program (IBC), a career exploration initiative hosted by the Incheon Metropolitan Office of Education. This program aims to foster global talent and strengthen career competencies among local high school students. The program officially launched with an opening ceremony on August 30 and will run its main sessions over four weeks, from September 6 to October 18, offering a variety of activities and learning opportunities. As part of this initiative, our department will host 23 first-year high school students, guided by Professor Noelle Chung (Marketing) and Professor Younggeun Lee (Management). Through interactive lectures and mentoring, the professors will help students gain insights into the global business and management, inspiring them to explore future career paths in a global context. This collaboration reflects SUNY Korea’s ongoing commitment to engaging with the local community and nurturing the next generation of leaders.

      On August 27, our department held a Mentor Training Session for faculty and student mentors participating in the Mentorship Program. This program is designed to actively support first-semester freshmen in their transition to university life. Each group consists of one faculty mentor and one student mentor, who together provide dedicated guidance and care for a small group of 3–4 freshmen.  

The Business Management Department is recruiting one Teaching Assistant (TA) for the Fall 2025 Incheon Beyond Classroom (IBC) Program, organized by the Incheon Metropolitan Office of Education.  This program offers high school students global career exploration opportunities through university-based learning, visits to foreign embassies and international organizations, and creative cultural experiences. 1. Position Details Dates: Sept 6, 13, 20 & Oct 18, 2025 (Saturdays) Hours: 09:00 AM – 1:00 PM (4 hours per session) Compensation: 70,000 KRW per session (Total 280,000 KRW) Location: C107 @ SUNY Korea 2. Professors in Charge Sept 6 & 13 – Prof. Younggeun Lee Sept 20 & Oct 18 – Prof. Noelle Chung 3. Eligibility BM Major Student Cumulative GPA 3.2 or higher Completed at least one semester No disciplinary or academic dishonesty records Fluent in English and Korean (for interpretation support) Friendly, responsible, and able to mentor high school participants 4. Application Link & Deadline  Link:  https://forms.gle/umLWuRdkzSfgX75A8 Deadline: August 14, 2025 (Thu). *Shortlisted candidates may be contacted for an interview.

  Lack of Talent Innovation Threatens National Competitiveness — Urgent Shift Needed in University Education Policy A new government has been inaugurated. While promoting unity remains important, the public's foremost concerns lie in restoring livelihoods and ensuring economic stability. Beyond short-term stimulus measures, there is an urgent need to strengthen South Korea’s long-term, sustainable national competitiveness. Achieving this level of competitiveness requires bold structural reforms, particularly in education and governance. Although South Korea excels in corporate agility and public adaptability, its progress is undermined by low government efficiency and excessive regulations. In contrast to top-ranked countries like Singapore and the U.S.—where universities serve as powerful engines of innovation—Korean universities remain tightly controlled, with limited autonomy over tuition, admissions, and institutional growth. To thrive in a rapidly evolving global landscape, the government must recognize universities as vital partners in innovation and talent development. Click here to read the full article.    

                  On April 11, 2025, members of our department's CPA Study Group, along with accounting faculty members, participated in a special field trip to Deloitte Korea’s headquarters, located in the IFC building in Yeouido, Seoul. The visit was highlighted by a warm welcome from Deloitte Korea’s CEO, Mr. Jong-sung Hong, who took the time to personally greet the delegation. His presence made a significant impression on the students, emphasizing Deloitte's commitment to talent development and engagement with the next generation of professionals. During the visit, participants were given an in-depth overview of Deloitte’s corporate vision, the qualities the firm seeks in future talent, and insights into its diverse business areas, including future-focused initiatives and innovative service lines. Students also had the unique opportunity to tour the office space, gaining a firsthand look at the professional environment of one of the Big Four accounting firms.

    On April 9, the Business Department had the honor of hosting Mr. Sooho Kim, Marketing Director of Monster Energy Korea, for a special lecture titled "Monster Energy: Strategies for Growth and Future Prospects." The event marked a significant milestone, achieving the highest attendance in the department's history for a guest lecture, with approximately 100 students, faculty, and staff in attendance. Mr. Kim shared valuable insights into Monster Energy’s marketing strategies, brand positioning, and future plans, sparking great interest and engagement from the audience.

Yejin Lyu, a 2024 graduate of SUNY Korea Stony Brook University with a degree in Business Management, has recently been accepted into Columbia University’s School of International and Public Affairs (SIPA). During her time at SUNY Korea, the globally integrated academic environment provided her with a diverse perspective which opened doors to prestigious internship opportunities at international organizations, including the United Nations. These experiences played a crucial role in shaping her career aspirations and ultimately led to her acceptance at Columbia SIPA. Can you introduce yourself? I am Yejin Lyu and I graduated with a Business Management degree from SUNY Korea Stony Brook University in 2024, with a specialization in Marketing. I joined SUNY Korea in 2020 and took a gap year to work at the United Nations, which profoundly shaped my perspective on global markets and international development. Why did you choose to study at SUNY Korea SBU? I chose to study at SUNY Korea, Stony Brook University, because it offers a globally integrated curriculum while providing valuable opportunities in Korea. The program's structure allows students to spend three years in Korea and one year at Stony Brook University in New York, which enables a seamless blend of both academic and professional experiences. This unique model provides the same prestigious degree as Stony Brook while offering exposure to both Korean and U.S. work environments, equipping me with a well-rounded, global perspective essential for my career. During your university years, did you participate in any internships, competitions, or other activities? How did these experiences contribute to your career growth? During university, I worked as a Teaching Assistant, at the Writing Center, and took on internships. Through the Career Services’ emails, I discovered the World Federation of the United Nations Associations (WFUNA) College Leaders Program, which sparked my interest in international organizations. This led me to take a gap year, during which I found and applied for an internship at United Nations Office for Disaster Risk Reduction (UNDRR), also through the Career Services. That experience confirmed my goal of working in the United Nations, motivating me to pursue graduate studies for deeper knowledge and expertise. Since then, I have gained further field experience at United Nations Industrial Development Organization Investment and Technology Promotion Office (UNIDO ITPO) Korea and United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), ultimately leading to my acceptance into Johns Hopkins SAIS (University School of Advanced International Studies) and Columbia SIPA (School of International and Public Affairs).        What led you to pursue graduate studies at Columbia university, and what are your aspirations for the future?  My experience at the UN inspired me to pursue graduate studies at Columbia SIPA in New York City, home to the UN headquarters and major international organizations. SIPA’s hands-on approach, global network, and policy-focused curriculum make it the ideal place to deepen my expertise in International Affairs. I aim to gain practical experience in global policymaking and apply it to real-world challenges. My long-term goal is to work in international organizations, shaping policies that drive sustainable development and global cooperation.   What is your most memorable experience at SUNY Korea? Due to COVID-19, I had limited opportunities to participate in school activities during my early years at SUNY Korea. However, my experience at Stony Brook University in New York last year was truly memorable. Immersing myself in a diverse environment, I had the opportunity to interact with people from various backgrounds and cultures. This experience broadened my perspective, deepened my understanding of global dynamics, and reinforced my interest in international affairs. Are there any key lessons or skills from SUNY Korea that have been particularly valuable in your journey? SUNY Korea’s Career Services provided invaluable support by connecting me to external opportunities that shaped my career path. Moreover, classes that required the use of various IT tools enhanced my documentation and organizational skills. Additionally, the mandatory writing courses required for graduation significantly improved my academic writing. These skills were especially beneficial when applying for graduate school, enabling me to articulate my ideas effectively on my own。 What advice would you offer to students pursuing their academic and professional goals? Make the most of the opportunities provided by the university and seek internships to gain valuable field experience. Most importantly, try everything—don’t be afraid to try new things. When I first applied to graduate school in 2024, I hesitated to aim for top programs and held myself back. However, that experience helped me recognize my potential, and in 2025, I challenged myself to apply to highly renowned schools—and was accepted. Trust in your abilities, take risks, and keep pushing forward.   

We proudly announce that Sang Yeop Lee, a Senior BM student, successfully passed USCPA exam last February. Focusing on both accounting and finance, Lee not only excelled in his academic studies but also committed additional time outside of class to prepare for this challenging exam, achieving his professional goal. Jang is currently studying at Stony Brook University's main campus in New York as he prepares for his post-graduation career. His achievement exemplifies the hard work and dedication characteristic of SUNY Korea’s student body and highlights the department's commitment to fostering academic and professional excellence.  

On March 19, 2025, the Business Department held an awards ceremony to honor top-performing students from the Fall 2024 semester. A total of 25 students were selected for recognition, based on recommendations from professors in major courses. The event was attended by over 40 individuals, including faculty members, award recipients, and fellow students, who gathered to celebrate the achievements of the honorees.

      On November 27, our department hosted a special lecture featuring Jungwon Lee, the Head of Healthcare Business at LG Electronics, who spoke on the topic "Aging Society and Its Business Opportunities." The event offered an insightful exploration of the challenges and opportunities presented by the rapidly aging population. Approximately 50 students and over 10 faculty and staff members attended, gaining valuable perspectives on the evolving business landscape shaped by demographic shifts. The lecture was a resounding success, leaving participants inspired and informed about potential innovations in the field.

    On Saturday, November 23, 2024, SUNY Korea welcomed high school students nationwide for the annual SUNY Korea Experience Day. The event showcased academic programs, sample lectures, and provided opportunities for participants to network with professors and current students. The Business Management Department featured a lecture on Principles of Marketing by Professor Noelle Chung, attracting approximately 50 prospective students interested in the program.

  On November 15, 2024, SUNY Korea's CPA Study Group visited PwC Korea in Seoul. Thirty students, including three faculty members, Department Chair Jeehong Kim, Professor Soo Young Kwon, and Professor Koren Jo, joined this insightful field trip. The program began with an introduction to PwC, highlighting the company's global impact and diverse range of professional services. Following this, students enjoyed a group lunch and networking session with PwC partners, receiving invaluable advice on career planning and insights into the accounting industry. During the Q&A session, the students had the opportunity to engage directly with PwC professionals, deepening their understanding of what it takes to thrive in a dynamic work environment. The event concluded with a tour of the PwC office, offering students a glimpse into the corporate culture and operations at one of the world's leading professional services firms. Established in Spring 2022, the CPA Study Group at SUNY Korea has consistently provided its members with enriching experiences such as seminars, mentorship, and field trips. Events like this reflect the group's commitment to inspiring and equipping CPAs with the knowledge and connections needed to excel in their careers.      

            On November 4th and 5th, the Business Department held a successful two-day event, the "Academic Lounge," designed to support students in their preparations for the upcoming Spring 2025 semester. This interactive advising session provided 1:1 academic counseling led by faculty members, coordinators, and student representatives, who served as advisors throughout the event. Approximately 60 students attended over the two days, seeking guidance on course planning, academic strategies, and degree requirements. To further support students’ career aspirations, the department invited a representative fromthe Career Development Center. This collaboration aimed to help students align their academic choices with their career goals, offering tailored insights on how coursework could enhance future career opportunities.

We proudly announce that Sunghyun Jang, a Senior BM student, successfully passed USCPA exam this September. Focusing on both accounting and finance, Jang not only excelled in his academic studies but also committed additional time outside of class to prepare for this challenging exam, achieving his professional goal. This fall 2024 semester, Jang is studying at Stony Brook University's main campus in New York as he prepares for his post-graduation career. His achievement exemplifies the hard work and dedication characteristic of SUNY Korea’s student body and highlights the department's commitment to fostering academic and professional excellence.