The FleishmanHillard(FH) Stakeholder Engagement Center inaugurated the ‘Business Model Institute (BMI)’ to identify issues and tasks in newly introduced business models from the perspectives of various stakeholders and discuss effective regulation and policy directions.
BMI held its first meeting on July 30 and discussed the current and future directions of Korean start-ups through the ‘Woowa Brothers’ case, which made headlines when it was acquired by a German company.
Tim Hwang, founder of the global legal tech startup FiscalNote, also attended the meeting as the guest speaker.
With Professor Hyo-sang Ryou of Soongsil University as the head of the group, BMI consists of about a dozen academics and experts including Se-bung Kwak, former standing member of the Fair Trade Commission, and Kyu-ha Chae, former Secretary General of the Fair Trade Commission. BMI will meet every month to discuss business models in various industries and hear from corporate guest speakers in the field.
Yang Wang, head of the FH Stakeholder Engagement Center, stated, “Despite efforts such as the introduction of a regulatory sandbox, there are still doubts about its actual efficacy and conflicts continue between new platforms and the existing industries they are replacing,” adding, “BMI will gather experts from various fields to study the characteristics of the latest business models, understand the causes of conflict among stakeholders, and gather ideas on how to solve these conflicts.”
For more information, please refer to the Money Today article.