FedEx Announces Winners of International Trade Challenge
August 27, 2007
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, today announced the winners of the inaugural FedEx Express/Junior Achievement™ International Trade Challenge, a competition designed to help develop the entrepreneurial spirit of young people in the Asia-Pacific region.
The program is part of a three-year FedEx sponsorship to educate and inspire young people in 11 Asia-Pacific countries to become entrepreneurs by providing them with first-hand experience of international trade, enhancing their knowledge in a range of business areas, and developing their sense of teamwork, risk-taking and self-confidence.
In this year’s inaugural event, nine teams of two students competed against each other, with three teams each from Australia, Hong Kong and South Korea. The teams, selected following preliminary rounds in their home markets, presented the business strategies and tactics they would use to market their selected products in an overseas market.
The winning team was selected for its thoroughness, creativity and professionalism in developing and executing its business plan, as well as the team members’ demonstration of key business traits such as teamwork, leadership, communication, and public speaking.
The top three teams are:
1st: Cheung Chun Hin and Wong Chun Mau, Hong Kong
2nd: Sang Ho Ahn and Junghwan Yang, South Korea
3rd: Chanhyun Bahn and Woo Seyong Son, South Korea
"Asia is famous for its entrepreneurial spirit, and the International Trade Challenge nurtures that spirit in the next generation," said David L. Cunningham, Jr., president, FedEx Express Asia Pacific, and vice-chair of Junior Achievement Hong Kong. "The quality of the work presented by the students in the final was impressive, a testament to the skills of these young people and to the business thinking and practices that the program has exposed them to. By opening up their minds to more possibilities, this forward-looking initiative helps prepare them to become business leaders in a global society."
"The FedEx Express/Junior Achievement™ International Trade Challenge teaches students how to run a global business, and helps prepare them to succeed in our global economy. Junior Achievement students have a better understanding of the four cornerstones of international trade – having clear goals, market knowledge, cross-cultural communication skills, and the passion to excel," said Jack E. Kosakowski, executive vice president & COO JA Worldwide. “We are proud to work with FedEx to bring this event to Hong Kong.”
In February this year, FedEx announced a three-year agreement with Junior Achievement Worldwide™ that involves a grant of more than US$1 million, and includes the International Trade Challenge. The Challenge was launched this year in Hong Kong, Australia and South Korea, and will be extended to eight other Asia-Pacific countries over the next two years.
As well as sponsoring the event, FedEx employees volunteered their time to coach the students and facilitate business lessons. FedEx employees log over 100,000 hours of volunteer work each year in support of local Junior Achievement operations and many other philanthropic organizations.
About FedEx Express
FedEx Express is the world’s largest express transportation company, providing fast and reliable delivery to every U.S. address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $35 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 280,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.van.fedex.com.
About JA Worldwide®
JA Worldwide is the world’s largest organization dedicated to inspiring and preparing young people to succeed in a global economy. Through a dedicated volunteer network, JA Worldwide provides in-school and after-school programs for students in grades K-12. JA Worldwide offers educational programs that focus on three key content areas: entrepreneurship, work readiness, and financial literacy. Today, 140 individual area operations reach approximately four million students in the United States, with an additional 3.5 million students served by operations in 114 other countries worldwide. For more information, visit www.ja.org.