This course is designed to have students experience first-hand some of the challenges of starting and scaling dynamic technology-intensive ventures. The economic context of South Korea is particularly exciting, a country known for its excellence in electronics, gaming software, and telecommunications services; and the cultural and political context is equally exciting, with a renewed sense of democracy and renewal given recent events.
The New Venture Lab course is experiential. While students will be given lectures on the Korean entrepreneurial ecosystem, and its history of the large chaebols and the emerging entrepreneurial environment, most of the learning will be done in the field working directly with early stage Korean companies. Students will have learned the basics of management consulting in the Boston portion of this Dialogue, and will need to apply these lessons to Korean companies. Students are required to work in teams to work on issues of strategic importance to an assigned venture. Projects vary widely, but typically involve assessment of the product-market strategy, and how it must be changed for internationalization, including accommodating the tastes and preferences of American consumers for future Korean-based products. New Venture Lab is a hands-on course, so be prepared to spend a lot of time with your assigned venture and their employees.
The final deliverable will be a detailed 20-page consulting report focused on the assignment give by the participating companies for each respective student consulting team. These reports will be assessed by the companies themselves, plus your faculty leaders.
There are many unique highlights: Seoul itself -- the pace, the nightlight, the shopping, and the economy; food, food, and more food; and we hope, the management consulting itself.
Group Flight Plan:
- Application Open: November 1, 2018
- Application Deadline: January 15, 2019
Submit to GEO
- GEO Application: All applicants must complete the GEO application. This is the first step for applying to any program.
- $500 non-refundable deposit: Deposits must be paid through NUPay. Be sure to select the appropriate summer term.
- Photocopy of Passport: This is to be given to your faculty leader after acceptance.
- Faculty Interview: Faculty will schedule interviews with applicants of interest to determine acceptance. The interviews can occur anytime before the final deadline.
Essay Questions: Answer each question in 2-3 paragraphs (completed online via GEO application).
- What are your personal and academic reasons for wishing to participate in this Dialogue of Civilizations program?
- How will the program further your academic and career goals?
- What is your previous travel and language experience, if any?
- What courses have you taken which are directly relevant to the program?
Applications are not considered complete until deposit is received. This deposit will be applied to the full cost of the program.
Update My Travel Plans on myNortheastern
Once you have been accepted into the program and your the flight and accommodation details have been shared with you, you are required to create an entry in My Travel Plans for the trip. Please be sure to enter the following pieces of information:
- Personal and Emergency Contact Info
- HealthTravel Info: Dates, flight and accommodation details, etc.
- Passport Details: Passport number, Expiration date, Passport Country of issue, etc.
Please refer to this step-by-step user’s guide for directions on how to navigate the My Travel Plans system.
Should you fail to complete this step as directed, you may be prevented from traveling, may not receive credit for courses, and/or may be excluded from participating in other Northeastern global programs.
Studying abroad requires a valid passport. You may also need a visa and/or other travel documents. It is your responsibility to ensure that all your documents are valid and appropriate to the nature of your program.
- Minimum Cumulative GPA: 2.50
- Minimum Semesters: Minimum of 2 completed Northeastern semesters at the time of program start date. NUin students are eligible to apply. Transfer and Global Pathways students contact GEO program coordinator for eligibility.
- Possible Student Challenges: Some student might need to acclimate to the spicy food. For restricted vegan diets, vegetable and tofu dishes are a particular Korean specialty. But in many traditional restaurants, we sit on the floor to eat and drink, sharing plates. As for messaging, transportation, and language, KakaoTalk and KakaoMetro make this all easy.
Students will gain first-hand experience in both management consulting and Asian business/entrepreneurship. Working and socializing in South Korea for more than two weeks will be an unforgettable as well as important experience.
There are several important learnings:
– Quick size up a an industry, its technology, and its competitive dynamics.
– Strengthen your ability to assess technical, market and organizational feasibility for growth initiatives.
– Learn international business expansion strategies
– Learn productive teamwork skills as well as communications skills.
Students will work side by side, and socialize, with South Korean student counterparts. We will hike in the Korean national parks, partake in a Korean meditation and movement program, visit the DMZ, and experience a rich variety of food and music in Seoul at night.
- ENTR 3220 - International Entrepreneurship and Innovation : Covers, from an international perspective, entrepreneurial opportunity identification and evaluation; market analysis and intelligence; joint venture and partnerships; agents, value-added resellers, and representatives; regulations, laws, and customs; regional and cultural issues; financing foreign ventures; and choice of domestic and international legal entities. Offers students an opportunity to understand the complexities faced by entrepreneurs doing business in a global environment and to obtain the knowledge that helps them to successfully cope with that environment. Focuses on and emphasizes the perspective of the entrepreneur but also canvases the role of the intrapreneur as an innovator and the innovation process in the international context.
- ENTR 4510 - New Venture Lab Abroad-South Korea : Offers an intensive field consulting program with local ventures in different countries. Designed to have students experience first-hand the challenges that entrepreneurs confront internationalizing products and services as well as core product management issues. Students have an opportunity to work in cross-culture consulting teams with local students from partner universities. Projects vary widely, but typically involve assessment of current product line and services strategy, marketing approaches, and how these must be adapted for foreign markets, including the U.S. This is a field consulting course with heavy client engagement, requiring detail written and oral communications for the client.
Northeastern Tuition: $12,613
Dialogue of Civilizations Fee: $2,000
Northeastern Tuition and DOC Fee Includes: 8 Northeastern credits, international roundtrip airfare from Boston, accommodations for program duration, international security and emergency support, and program related expenses (local transportation, field trips, excursions and group meals)
Additional Estimated Expenses: $900
Students should anticipate spending the above out of pocket expenses during the program for meals and incidentals.
GEO offers scholarships and grants for students studying abroad on Dialogue of Civilizations programs. Please visit our Scholarships page for more info!
- Tentative Itinerary : This is a tentative itinerary for the DOC. A final itinerary will be provided to you by the professor in spring 2019.
Seoul is a large, dynamic metropolis, having Asia’s busiest airport, its most dynamic shopping, technology leaders such as Samsung and LG, as well as other leaders in gaming software and telecommunications.
The U.S. State Department lists travel advisories, local laws, alerts from the embassy, and other important information about South Korea here. Please review this information before applying.
- On-Campus: The SeoulTech Guest House, featuring single room accommodations and private bathrooms.These are new, clean accommodations. Following Korea custom, shoes are not worn inside dorm rooms.
Host University or Organization
SeoulTech (The Seoul National University of Science and Technology) is a highly ranked national university located in Seoul, with strong engineering, management, and design capabilities.