Domestic projects due to the COVID-19 pandemic, were the focus this year of the 16th undergraduate Global Experience Team-project (uGET). Three teams, with the support of the Yonsei Venture, Innovation and Startup Program (YVIP), worked from July 6 to July 31 on two projects proposed by YSB and one proposed by the students themselves.
The school proposed the Zackdang and Work Together Foundation projects. Students proposed the BMW Korea Future Fund project.
The Zackdang team, composed of students Ki Pung Cho (entering class of 2018, Business), Se Bin Kwon (entering class of 2018, Business), Ye Jin Kim (entering class of 2018, Business), and Hoe Sang Kim (entering class of 2018, Business), established a marketing plan and developed a business model for Zamface, a comestics video service aimed at generation-Z consumers.
“I was confident that I could further develop the beauty application Zamface to support this project, and that I could demonstrate the capabilities of the team members who have a lot of experience in Southeast Asia to bring the service to the Southeast Asia market,” Ki Pung Cho, the team leader, said, in explaining why he applied for the project. The team conducted a preanalysis of the application while preparing for the uGET project.
Based on the analysis, they investigated generation Z and the overseas markets, including Vietnam, Thailand, and Indonesia to understand their cosmetics-related consumption patterns. Moreover, the team gained hands-on experience by meeting other companies in the industry, producing various tests to attract generation Z customers, and developing contacts with social media influencers.
[Work Together Team]
Students Yoon Jae Kim (entering class of 2018, Business), Jung Hyun Park (entering class of 2018, Business), Ye Jin Lee (entering class of 2018, Business), and Un Chae Chung (entering class of 2018, Business) implemented a project titled "The Senior Market Research and The Senior Online Platform Proposal" for the Work Together Foundation.
Because of the increasing number of senior citizens in Korea, their value as separate market has been growing rapidly. Therefore, Yoon Jae Kim, the team leader, along with the team members, agreed on the importance of the senior market and decided to study this topic. Based on the results of their research into the market, they made suggestions for senior online platforms. They found that seniors value active and leisure lifestyles over compensation and also make good use of IT devices such as smartphones. Hence, the team was able to confirm the potential of applying smart technologies to the senior market through various activities. "It was a time to think about whether we could go further in carrying out the project and grow with seniors," said the team leader Kim, "I learned that not only desk research but communication with field practitioners is also important."
[BMW Korea Future Fund Team]
In the student-proposed project for the BMW Korea Future Fund, the four participating students were impressed by the various ways in which the fund contributes to society. And next year, to mark the 10th anniversary of the BMW Korea Future Fund, the team planned an event to increase marketing to consumers in their 20s in addition to the existing customer base of 30s and 40s. Through an analysis of event preference surveys for future 20-year-old BMW consumers, they established an event plan for an effective 10th anniversary to convey social messages to younger generations.
The BMW Korea Future Fund is expected to plan the 10th anniversary event based on the team’s proposal. This project was conducted by Ji Yoon Ham (entering class of 2015, German), Do Young Kim (entering class of 2016, Business), Su Yeon Sue (entering class of 2016, Business), and team leader In Sang Hwang (entering class of 2016, Business).