- Jung Koo Kang from Yonsei Graduate School of Economics Appointed as a Professor at Harvard Business School August 04, 2021
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Achieving Dream with Original Research and Perseverance from Work Experiences
Beginning with a Thirst for Learning
It is not even easy to receive a master’s degree while working at the same time, but there is a Yonsei alumnus who has obtained a doctorate and been appointed as a professor at one of the world’s most prestigious universities. It is the story of Jung Koo Kang, a graduate from the Graduate School of Economics at Yonsei University (entered in 2012 and graduated in 2014.) He is serving as an assistant professor in accounting and management at Harvard Business School since this summer.
Passing the certified public accountant exam as an undergraduate, Kang began his career in the banking audit team of Samjong KPMG right after graduation. After completing the training period required by CPA, he worked as an analyst specializing in credit ratings of bank and insurance industries at NICE Investors Service. While working as an analyst at a credit rating agency, Kang chose to enter the Graduate School of Economics at Yonsei University to quench his thirst for learning that has continued since his undergraduate years.
“I believe that a lot of students would have thought while listening to their lectures, ‘Why don’t I become a scholar like my academic advisor later?’ I had thought the same too. I did not even know what kind of research that professors were conducting, but I merely thought that if I work as hard as I had for the College Scholastic Ability Test, I would be able to become a scholar too. This vague craving for learning did not disappear even after I got a job. While I was seriously looking into the kind of research that professors were doing, I realized that I was not even able to read and comprehend a single thesis with my ability. I decided to join the Graduate School of Economics to study necessary materials that would help me with academic research.”
Meeting a Life-Changing Mentor
After entering the Graduate School of Economics, Jung Koo Kang pursued his dream by working for a company during the day and studying at school in the evening. The energetic atmosphere of the campus was refreshing to him. Though there were times when he was forced to skip classes due to his duties at work, there was no difficulty in progressing his studies under the guidance of professors at the Graduate School of Economics.
“I entered the Graduate School of Economics in 2011, and it was so nice to be on the campus after four years of working at a company. The food I ate at the school cafeteria before class was so good too. I drank with my colleagues as well and felt like I was a college student again. Even if I couldn’t attend classes during the week due to work, I didn’t have any difficulties with my academics because my professors at the Graduate School were very understanding of my situation and guided me flexibly.”
Kang visited Professor Hakbae Lee, who was the Vice Dean of the Graduate School of Economics at the time of his admission, and asked for the opening of various subjects that he thought were necessary to expand his research into new fields. With active support from the Graduate School, he also prepared for a doctorate program.
“When I entered the Graduate School, Professor Hakbae Lee of the Department of Applied Statistics was its Vice Dean, and I found out that he actively encouraged students to study overseas including arranging an opportunity for one of his students to study business administration at the University of Chicago. So I visited the professor and shared him with the reason why I joined the graduate school and my future plans. I also inquired him to open new courses that I thought were necessary to expand my academic research. Although he must have been very busy as the head of the graduate school, he offered all the subjects that I asked for, such as linear algebra, calculus, interpretation, and mathematical statistics. I found out later that there was difficulty in objecting to these new courses as there was not much demand from students. However, I am very grateful as those new courses he opened really changed my life.”
Original Research from Work Experience, and Studying Abroad with Persistence
After graduating from the Yonsei Graduate School of Economics in 2014, he flew to the United States to keep studying, and earned a master’s degree in statistics from University of Minnesota in 2016 and completing his doctorate in accounting at the University of Southern California in 2021. Studying overseas was not easy for him as he had not have any experience of living overseas before. Having needed more time to read, write and study in English than those who were proficient in English, he had to study day and night at school almost every day for seven years during his time in the United States. With creative research and original ideas, and persistence of studying ten hours every day, he finally became a professor at Harvard Business School.
“What is most important in becoming a professor is to have creative research ideas that others have not thought of, and the persistence to implement them scientifically. Those prestigious universities in the United States that are well-known to the public highly value original research and ideas that can contribute to academics rather than students’ soft skills such as their linguistic abilities. That’s why there are more non-American scholars at prestigious universities in the United States I was able to win the hearts of professors at Harvard Business School with my research achievements and future research plans.”
He was able to conduct more original research than other students based on his work experiences before starting his Ph.D. program. He gained many research ideas from his experiences as an accountant, analyst, and investment financer for seven years.
“For example, based on my work experience at a bank, I conducted research on how banks can hedge customer’s credit risks with credit default swaps to provide new loans and how such can help address the issue of reverse choice due to information asymmetry. I was able to publish my thesis on the Review of Accounting Studies, which is one of the top accounting journals in America.”
Jung Koo Kang is currently studying the impact of new technology or big data on the financial market in the era of the Fourth Industrial Revolution, and he is working with fintech companies in the United States for joint research. In the future, he will actively research case studies of Korean corporations whereby he will analyze the management problems facing CEOs in Korea.
For Those Preparing for a Doctorate Program in Economics
There are times when people feel the thirst for learning while working, but it is not easy to give up their career and choose to enter a Ph.D. course instead. Lastly, we asked Kang to share his advice for the junior Yonseians who are preparing to enter a Ph.D. program at special graduate schools.
“The advantage of special graduate schools is that you can study and get a degree while maintaining your career. However, if you move on to pursue a Ph.D. like me, it would be hard to ignore practical difficulties since you would be required to quit your job while the financial costs are too high to ignore. Since I was married when I chose to enter a Ph.D. program, it required much courage from me. This quotation from Steve Jobs helped me make a decision.”
‘Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.’
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