Aspiring Korean Entrepreneurs Showcase Creative Business Ideas at the 2021 FedEx/JA International Trade Challenge
SEOUL, July 14, 2021 — FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, together with Junior Achievement (JA) announced the six winning students of this year’s Korea FedEx Express/Junior Achievement International Trade Challenge (FedEx/JA ITC).
These six young aspiring entrepreneurs from three winning teams will go on to represent Korea in the Asia Pacific competition where they will compete against students from nine other Asia Pacific markets. To promote cross-cultural collaboration at the Asia Pacific finals, front-runners will be grouped at random into new teams comprising participants from all ten different markets: China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, the Philippines, Singapore and Vietnam. This team grouping approach will encourage participants to share experiences with students of other nationalities, gain global perspectives and brainstorm ideas to include inter-regional thinking.
The six students from Korea who will advance to the Asia Pacific FedEx/JA ITC are:
Ahn Seojin from BC Collegiate (10th grade) and Han Seungkyu from Seoul International School (10th grade)
Product presented: Functional Islamic clothing line
Kim Jun Young from Chadwick International School (11th grade) and Na HyunJun from St. Johnsbury Academy Jeju (10th grade)
Product presented: Clothing subscription boxes on weekly basis with styling tips
Park Chaerin from Hankuk Academy of Foreign Studies (11th grade) and Katherine Suk from Seoul International School (11th grade)
Product presented: Second-hand clothes from South Korea decorated with traditional and modern embroidery patterns
This year’s competition was held virtually due to COVID-19 and included four workshops held in June 2021, in which about 100 students participated. The 9 teams with the most promising ideas and market entry strategies then moved on to the national finals where they presented their business plans for a physical fashion product for the Pakistani market to a panel of judges. Representatives from FedEx Express and BNY Mellon served on the panel and assessed the presentations of the business proposals on the originality of concept, feasibility of strategy and thoroughness of research. South Korean students have achieved great results in previous FedEx/JA ITC competitions. In the 2020 Asia Pacific Finals, Chaeyoon Park took the first runners-up prize with a smart bike idea that helps track the user’s mental wellbeing.
“Now, more than ever, some of the most creative ideas are coming from entrepreneurs running start-ups. This has the potential to make a big impact not only in Korea, but also globally. Through the FedEx/JA ITC challenge, we want to support young aspiring entrepreneurs by helping them learn about global trade and the fundamentals of business, and inspire them to unleash their potential to further the economy in the new normal,” said Eun-mi Chae, managing director, FedEx Express Korea, who also served as one of the judges.
Since its launch in Korea in 2007, the FedEx/JA ITC has attracted more than 2,500 students nationwide with 84 students representing Korea at the Asia Pacific Finals. The FedEx/JA ITC program provides aspiring young entrepreneurs with the opportunity to gain a solid foundation on which to build future careers in business.
More information about the 2021 FedEx/JA International Trade Challenge can be found on the JA Korea website www.jakorea.org.