Young Korean Entrepreneurs Showcase Business Ideas at the 2020/21 FedEx-JA International Trade Challenge
SEOUL, January 21, 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 who will represent Korea in the FedEx-JA International Trade Challenge’s (FedEx/JA ITC) Asia-Pacific Regional Finals in March 2021.
The annual FedEx-JA ITC is a program that nurtures and builds the entrepreneurial skills of young students and empowers them with real-world knowledge to run their own successful businesses in future. The program aims to cultivate entrepreneurialism, business application skills and introduce them to the fundamentals of global trade.
The six students who will advance to the Asia Pacific FedEx/JA ITC are:
- Team Cozy
Seoyoung Kim and Jisun Hwang from Hankuk Academy of Foreign Studies
Product presented: Temple Stay in Cambodia
- Team UP2U
Haein Kim and Minwoong Choi from Korean Minjok Leadership Academy
Product presented: Food delivery service
- Team WASABI
Sanghyun Na and Chaeyoon Park from Hankuk Academy of Foreign Studies
Product presented: Sanitation kit
These three teams will advance to represent Korea in the regional competition where they will compete against students from other nine Asia Pacific markets. Due to the COVID-19 pandemic, this year’s FedEx Express / JA ITC Korea competition was held virtually for the first time since the competition began in 2007. Since November 2020, the ITC program has attracted 127 student participants from 62 schools.
At the FedEx / JA ITC Korea finals, the top 10 shortlisted teams presented their market entry business plans for a travel product with Cambodia as the target market to a panel of judges. The students developed these proposals by applying the insights and knowledge gained from the virtual workshops, including pricing strategies, market opportunities, and distribution channels. Representatives from FedEx Express and Junior Achievement served in the panel of judges to assess the ideas based on their understanding of cross-border trade, the originality of concept, feasibility of strategy, and thoroughness of research for each business proposal.
“We are delighted to see such creativity in the business ideas presented at the Korea ITC Finals,” said Eun-mi Chae, managing director, FedEx Express Korea. “Through the ITC program, we hope the students can better understand the benefits of global trade and the fundamentals of business. We see great potential in the next generation of Korean entrepreneurs to deliver positive change not only in Korea but also around the world. I am proud of the young talent we saw this season, despite a pandemic and I am enthused by their eager participation.”
Since its launch in Korea in 2007, the FedEx-JA ITC has attracted more than 2,400 students nationwide, with 78 Korean students representing the country at the Asia Pacific Finals. The FedEx/JA ITC program provides these aspiring entrepreneurs with the opportunity to gain a solid foundation on which to build future careers in business.
More information about the 2020/21 FedEx-JA International Trade Challenge can be found on the JA Korea website www.jakorea.org.