Choi Tae-won, chairman of SK Corporation, advised students of KAIST College of Business (KCB) not to fear to start a business since it’s a blue ocean and that challenge leads to innovation”

Choi attended the conference for the young social entrepreneurs and emphasized on the importance of start-ups by the young generation. Around 60 people attended the conference, including the alumni of KCB and Kang Sung-mo, the dean of KAIST.

“You must be used to failure to succeed…you become the change maker by overcoming failure…what other people do might seem easy but it is a red ocean” said Choi.

He also underlined the importance of having a long-term vision for innovation and reaching the blue ocean. “People blame their environment, but more can come if you make use of that environment”.

Choi added that social entrepreneurship is only possible with dedication and innovation. “Starting a social enterprise is a different direction that not many people took before…you must always go back to the basis and keep asking ‘why’”. To invigorate social enterprises, Choi suggested KAIST for social entrepreneurship MBA course which turned out its first graduates last February. Among the 20 graduates, 15 started business.