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| − | <div style="text-align:center; font-size: 30px; font-weight: bold;">TSM TO KOREA!</div>
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| − | <div style="background: #025EA1; padding: 15px; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #0d3963 solid 32px;"><font color="white">About Myself</font></div>
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| − | [[Image:QR-pic.jpg|170px|left]]
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| − | <p><b>Name:</b> Chan Qian Ru</p>
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| − | <p><b>Email:</b> qianru.chan.2012@sis.smu.edu.sg</p>
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| − | <p><b>Facebook:</b> https://www.facebook.com/qianru.here</p>
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| − | <p><b>Academic Year:</b> 2012</p>
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| − | <p><b>Primary Degree:</b> Information Systems Management</p>
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| − | <p><b>Second Major:</b> ABT(Information Security and Assurance)</p>
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| − | <p><b>Hobbies and CCA Interests:</b> I joined Taekwondo Club when I was in JC. Currently, I am in SMU Squash Club and BP Mentoring.</p>
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| − | <div style="background: #025EA1; padding: 15px; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #0d3963 solid 32px;"><font color="white">Why TSM to South Korea?</font></div>
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| − | <div style="margin-top: 10px; text-align:left; font-size: 20px; font-weight: bold;">Motivation to join TSM</div>
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| − | My first motivation is that this is a comparatively short project so I am determined to give my best for it until the end! My aim is to maximize my experience in S.Korea during those few days.
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| − | My second motivation is that this would be my first TSM trip! I will be able to get a good foundation and understanding of the businesses in S.Korea through this module. Prior to the trip, I will be very excited in doing the research on technology start-ups/successful companies in S.Korea, and sharing my knowledge with the class. Then, during our trip, we will be able to see - <i>with our very own eyes</i> - those companies that we spent weeks researching and presenting on.
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| − | My third motivation is that I will be able to get a good understanding of the Korean culture. My previous overseas trips (either for Overseas Build Trips or AIESEC exchange) were very rewarding, and I am sure this TSM would be a good one too.
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| − | <div style="margin-top: 10px; text-align:left; font-size: 20px; font-weight: bold;">Why South Korea</div>
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| − | Because like Singapore, it is a vibrant city where people enjoy a high quality of life.
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| − | Also, I like the Korean culture - the people are respectful, they have a rich historical culture and I believe the weather will be good:)
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| − | <div style="background: #025EA1; padding: 15px; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #0d3963 solid 32px;"><font color="white">Internship Opportunities</font></div>
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| − | <div style="margin-top: 10px; text-align:left; font-size: 20px; font-weight: bold;">Internship Opportunities That Interests Me</div>
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| − | I believe having the opportunity to intern at a Korean company will be very insightful. Not only will I be able to interact with people from a different culture, I will also be able to find out how companies operate different kinds of businesses. In addition, I will be able to polish up on a foreign language.
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| − | I am also interested in FOOD, and I believe [http://en.lottedfs.com/main Lotte] is the best place to go. Lotte is a huge conglomerate, a multinational food and shopping corporation that ventured into other different sectors like electronics, entertainment, IT and financial services over the years.
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| − | There are many [https://www.techinasia.com/south-koreas-sparklabs-accelerator-reveals-the-startups-joining-its-fourth-batch/ start-ups] in Korea gaining investors' interests and consumers' attention. So, it would be a good time to explore how the businesses gain momentum and start a trend in Korea.
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| − | <div style="background: #025EA1; padding: 15px; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #0d3963 solid 32px;"><font color="white">Starting a Business</font></div>
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| − | <div style="margin-top: 10px; text-align:left; font-size: 20px; font-weight: bold;">Types of Business That Interest Me</div>
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| − | <p><u>1. Food Industry - for start-ups in Korea</u></p>
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| − | <p>Do you know? Food delivery is very common in S. Korea. Unlike in Singapore where everything is within a ten-minutes walk to the nearest shopping center, the late night snacks in Korea may be a 10-20 minutes drive from the office/home. So there is a great potential in this area! I'm thinking of a business model like FoodPanda.</p>
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| − | <p><u> 2. Education </u></p>
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| − | Because education is so important in Singapore = huge demand.<br>
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| − | Also, in future, I want to start up a school business (something like a School of Thought) where people can get skills for free and pay the kind gesture forward. Idea: Students who receive our free education have to pay it back by tutoring other students for an amount of time. The kind of education they receive will be very practical, like how to create and design a website, how to develop an application, and other cool things we learn in SIS.
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| − | <div style="margin-top: 10px; text-align:left; font-size: 20px; font-weight: bold;">My Business Plan</div>
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| − | <i>One day after a hot and tiring squash training, my friends and I were talking about the lack of vending machines near the squash courts. Someone mentioned she craved for bubble tea. Another talked about how there was a recent spike in vending machines around school ("Did you check out the new sandwich machine near Library? So cool!")
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| − | So as we chatted along, we thought of a simple business plan: <b>A vending machine that produces bubble tea milk. Catered to SMU students!</b></i>
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| − | The above scenario did actually happen earlier this year, although our thoughts remained a mere idea.
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| − | However, I feel that since <i>almost</i> everything is automated now, wouldn't it be profitable to start a vending machine service that provides <b>easily perishable food</b> that people traditionally would think that they have to buy from a real shop? We have to overcome the notion that vending machine food = "not fresh", "not healthy".
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| − | <p>Examples of perishable food that are (still) trending in Singapore:</p>
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| − | <p>- Bubble Tea</p>
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| − | <p>- Yogurt Ice Cream</p>
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| − | <p>- Sushi</p>
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| − | To maintain the freshness level, we will top up the vending machines with fresh ingredients every morning (pearl, yougurt, fish) everyday and maintain a cool temperature for the machines. Other ingredients in the machine will be stored separately and combined only upon an order (bubble tea ingredients in powdered form etc.)
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| − | I learn that to make a profitable business, the start-up cost have to be low. In my case, I do not need a physical shop since the vending machines would be located in my client's buildings and I just have to afford the ingredients of the food items. To make a profit, the prices have to be higher (eg. $3.90 for bubble tea and $5 for yogurt ice cream) and the client buildings have to be further away from shopping areas/stores that compete with my business directly so that there is a good demand for my products.
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| − | <div style="background: #025EA1; padding: 15px; font-size: 18px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #0d3963 solid 32px;"><font color="white">Past Experiences</font></div>
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| − | <div style="margin-top: 10px; text-align:left; font-size: 20px; font-weight: bold;">Past Experiences</div>
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| − | I have never been to S.Korea. Not even close. This is why, if I am selected for the TSM, I would be very excited to contribute to the course:D
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| − | I have a basic literacy level in Korean Language. Although my Hangul vocabulary is limited, I am able to recognize and read the words (and hold a short conversation).
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| − | Although I do not have experience in start-up businesses before, I am interested in entrepreneurship and picked up skills from reading online articles (how to advertise your business through Facebook[http://www.wordstream.com/blog/ws/2014/01/30/facebook-advertising-tips .]) and attending talks (for example, a school talk with guest Mr. Md Imran, the founder of many small start-ups ranging from education to tailor businesses). I learn that the risk of starting up a business is actually not as high as everyone thinks - the biggest risk (lost of money) can be capped by starting small and expanding along the way, and the next biggest risk (losing out on opportunity costs because we invested so much time into a new business) is smaller when we start young (the younger we are, the less opportunity cost).
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