President’s Message

President’s Message

Dear KAFA Members and Friends:
 
The sun’s warmth tells us the return of the spring. It is great to feel the renewal of life the spring brings to the nature.  It is a great honor for me to serve as the president of KAFA.
 
First of all, please join me to appreciate Prof. Saeyoung Chang for his outstanding service and leadership for the KAFA, particularly, the successful completion of the 25th KAFA Anniversary International Conference (jointly with KCMI and SKKU-GSB) in Seoul last summer. It was a wonderful way of showing KAFA’s strong presence in the world.
 
I also congratulate and welcome President-Elect Prof. Yoon K. Choi. KAFA is deeply indebted to Executive Officers for their dedicated and tireless efforts: Vice President Prof. Jung-Hyuk Kim; Secretary-General Prof. Jin M. Kim; Treasurer Prof. Ha-Chin Yi; Secretary-General Korea Prof. Noolee Kim. 
 
KAFA has received generous donations from the late Dr. Bong-Soo Lee’s sons, Chris and Paul. Also, there was an additional matching donation from MicroSoft. These donations will be the scholarship fund for KAFA PhD students. For the purpose of administering the scholarship, Profs. Ha-Chin Yi, Young Sang Kim, Young Baek, and Jung Chul Park have graciously agreed to serve as the scholarship fund committee. The committee was charged with the investment strategy of the fund as well as the selection criteria for annual scholarship distributions. Following the committee’s recommendations, KAFA will make proper investments and the inaugural scholarship will be awarded in October at the 2017 FMA meetings. 
 
As we had done in previous years, KAFA successfully offered two KAFA-FMA sessions at the FMA meetings in Chicago last October. In the first session titled “Issues in Korean Financial Markets” moderated by Prof. Saeyoung Chang, Prof. Bong-Chan Kho (Seoul National University), Dr. Min Kyeong Kwon, (Research Fellow, Korea Capital Market Institute), and Dr. Joung Hwa Choi (Cornell University) presented papers.  In the second session titled “Corporate Financial Decisions in Asia” moderated by myself, Professors Dong Wook Lee (Korea University), Kazuo Yamada (University of Nagasaki), Ji-Woong Chung (Korea University) presented papers.  Both sessions were very informative and well attended. 
 
During the last year’s Annual Business Meeting in Chicago, KAFA also presented several awards to recognize KAFA members’ outstanding scholarly achievements.  These awards include the two Financial News (FN)-KAFA Eminent Scholar Award, Shinhan Bank (SHB)-KAFA Young Scholar Award, SHB-KAFA Best Paper Awards, FN-KAFA Top Journal Paper Awards, and FN-KAFA Doctoral Student Dissertation Awards. In addition, KAFA provided SHB-KAFA doctoral student travel support to seven doctoral students.  On behalf of KAFA, I congratulate all award recipients once again and greatly appreciate Financial News and Shinhan Bank for their generous financial support for KAFA awards. 
 
As usual, KAFA is soliciting papers for joint conferences with our Korean partners this summer--Allied Korean Financial Associations and the KIF. You will find more detailed information about the joint conferences in this Newsletter. As done in previous years, KAFA presenters of selected papers will be provided with partial travel support.
 
KAFA has witnessed an impressive growth over the past twenty five years with your strong support and active participation in various KAFA activities. Recently, there has been a noticeable growth in the number of new members. Your support is the vital part of the KAFA’s future growth: Please let PhD students know about the KAFA and various opportunities it provides for them. I look forward to seeing all the members and friends thrive with KAFA.
 
 
 
With Warmest Regards,
 
Soku Byoun
2017 KAFA President
Baylor University