Money Today

I am grateful for the fate of digital nomads.

Professor Choi Jae-hong

Jul 4, 2024

"Those who build walls will perish, and those who move will thrive," said Genghis Khan, the greatest conqueror in history of a single empire. He warned that “when my descendants wear silk clothes and live in tile houses, my empire will fall” by providing a specific example. His remarks from 1000 years ago have been accepted as an unyielding and unchanging truth, as strong as diamond. However, I have thought about whether it would be happy if such a truth is a destiny rather than a choice. We moved to survive because we could not exist without moving at full power since birth, thus growing, but it speaks of a fate like a nomad who cannot settle and must move again.

Recently, Naver Webtoon has successfully reached the US Nasdaq. The public offering was successfully completed, and although the stock prices fluctuate, the achievements of our country's companies that create something from nothing are remarkable. The listing of our companies on the US stock market adds significant value and appraisal to their corporate value, something unimaginable in the past. Looking at our companies like Coupang or Gravity, a game company from over 20 years ago, and even Webzen, which has already withdrawn, it evokes the image of nomads who move and run ceaselessly as they achieve results on the New York Stock Exchange or Nasdaq.

We don’t have a global social platform like Facebook, nor do we have world-leading search or commerce platforms like Google or Amazon. Although we are in a difficult situation, I feel relieved that Naver, Kakao, and several startups have been successfully defending against the foreign onslaught that is coming into the country. This includes not only going out but also successfully defending against foreign offensives that come into our territory, akin to a destiny.

As mentioned, we don’t have any strong global platforms. It may be a hasty judgment, but currently, there seem to be no possibilities. However, thinking differently, when a platform changes its essence or core values, it becomes dangerous. This is why a platform can progress but cannot have a revolutionary innovation. In contrast, content must always adapt to people, converse with customers, and reflect the demands of the era, making changes in numerous ways. Each moment must be agile and flexible, as it continually seeks and moves to meet people's desires. Additionally, content cannot ensure that today’s success will carry on through generations; thus, success does not automatically guarantee the next. However, there are extraordinary individuals in this field. Even after being born, moving, and succeeding, they are still destined to continue moving without rest. They have transformed K-dramas, K-pop, K-webtoons, and K-movies, making K the hottest letter in the world by producing these small yet fast, diverse, and ever-changing offerings. Rather than longing for what we do not have, quoting someone’s book, the answer is "what I alone possess that the world cannot attain, making the world want what I have." Thus, we are happy.

Sharks are unsuitable for living in the ocean. Without a swim bladder to keep them buoyant, they sink into the depths unless they keep moving. However, they become the top predators in the sea. Honeybees are also poorly suited for flying in the sky because their body shape, balance, and size do not match their wings. They have the fate of needing to flap their wings over 200 times per second just to stay aloft. Yet, they do not hesitate to fly the distance of a full turn around the Earth for just 1 kg of honey. We have only a small piece of land left behind by our ancestors who had a meager population, possessed nothing, were hungry, and suffered through the affairs of the world. Yet, seeing the rise of this content called webtoon, I feel gratitude for the fate of digital nomads who must constantly change and move, taking another step forward today. (Choi Jae-hong, Professor of Entrepreneurship at Gachon University Global Campus)

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TEL. 031-750-5114

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COPYRIGHT (C) GACHON UNIVERSITY. ALL RIGHTS RESERVED.

Global Campus

(13120) 1342 Seongnam-daero, Sujeong-gu, Seongnam-si, Gyeonggi-do

TEL. 031-750-5114

Medical Campus

(21936) 191 Hampakmoe-ro, Yeonsu-gu, Incheon

TEL. 032-820-4000

Privacy Policy

Refusal to collect email

COPYRIGHT (C) GACHON UNIVERSITY. ALL RIGHTS RESERVED.

Global Campus

(13120) 1342 Seongnam-daero, Sujeong-gu, Seongnam-si, Gyeonggi-do

TEL. 031-750-5114

Medical Campus

(21936) 191 Hampakmoe-ro, Yeonsu-gu, Incheon

TEL. 032-820-4000

Privacy Policy

Refusal to collect email

COPYRIGHT (C) GACHON UNIVERSITY. ALL RIGHTS RESERVED.

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