Have you ever heard about the trending keyword, ESG? ESG represents using environmental, social, and governance criteria to estimate nations and corporations on how far developed they are regarding sustainability. Specifically, the environmental area deals with the preservation of our natural worlds such as climate change, carbon emission reduction, and deforestation. The social area considers humans and our interdependencies. In the area of governance, it cares about logistics and defined processes for running a business or organization. Corporations that try to adhere to criteria regarding ESG put their effort to be ethical in those particular sectors. Since 2011, the Korea Corporate Governance Service has been evaluating the level of sustainability management of listed companies in Korea through ESG evaluation that includes social responsibility and environmental management. A good evaluation leads to a better investment. A growing number of large companies are paying attention to ESG management. LG Electronics is providing ESG support for its partners through a "win-win payment system", while GS Caltex conducts "ESG self-inspection" so that its partners can check and practice ESG on their own. What if there is a company specializing in ESG research? QESG is an on-demand ESG company that collects data by direct contact with companies requiring an evaluation. QESG was founded in 2019 and attracted 300 million won worth of seed investment from Next Dream Angel Club. The Next Dream Angel Club, which consists of 80 professional investors, cited the explosive potential of the ESG market and differentiated business models as the reasons for the investment. Social and environmental risk factors are quantitatively examined to provide an ESG evaluation report that analyzes the level of management against the risk of businesses and assets held by companies. It utilizes a variety of non-financial and financial analysis techniques, including data analysis by artificial intelligence techniques, UNEP FI climate asset risk analysis, and technical recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). QESG does not rely solely on limited observational information but secures data and reliability through active involvement and systematic Due-Diligence processes. While the existing ESG evaluation provides specific evaluation results only for companies around 120 KOSPI-listed companies, QESG can cover more than 90,000 domestic companies, from large listed companies to unlisted small and medium-sized companies. All of these processes are automated courses from data collection to verification and evaluation through a specialized platform developed by oneself. In addition, it holds a research license for SASB, the only global sustainability accounting standard in Korea. As interest in ESG has increased significantly recently, research and evaluation results for QESG are growing rapidly. Based on these services, QESG has evaluated 1,100 private companies and financial institutions over the past year. CEO Bae Ik-Hyun of QESG said that attracting seed investment will accelerate entry into the ESG data service market. He also said that as the impact on ESG companies gradually increases, collaboration in various fields on ESG evaluation such as companies in the financial sector, will be possible in the future.

‘Platform’ is one of the hottest keywords these days. Out of the 10 most valuable companies in the world, 8 of them are platform companies such as Facebook, Amazon, and Google, and 3 of them are worth more than a trillion dollars. More importantly, 70% of all Unicorn companies (startups worth more than $1billion) partake in the platform industry. It is undeniable that the platform economy is a new wave of change with the potential to create new opportunities for wealth. Before diving into the business structure of the platform companies, it is important to first have a clear idea about what ‘platform’ exactly means. Platform, as Marco Toregossa puts it very nicely, is “a business model that creates value by facilitating transactions between buyers and sellers in an ecosystem, to capture a part of that value.” In modern macroeconomics, we learn that free transactions can allow every participant to be better off in the end, allowing everyone to focus on doing something he or she has a comparative advantage in. The platform industry allows this transaction to be almost seamless, taking full advantage of digitalization. For example, the Korean unicorn company “Carrot Market” created a new digital marketplace by connecting the producers willing to sell their used goods, with the consumers who want to buy the goods at a more affordable price. “Carrot Market” now has 20 million downloads, and over 10 million active users. For a person with the demand of selling or buying secondhand products, using “Carrot Market” is a no-brainer. It is convenient, easily accessible, and most importantly, free of charge. So, what makes platform companies so profitable? The answer to this question can be summarized into three important points. First, platform companies do not have to hold assets which can be a risk factor to profitability. Airbnb, a house-sharing platform, can be an example. While traditional hotel businesses expand their business by continuously buying real estate building hotels, Airbnb simply does the same business by connecting the people willing to share their estate with the people willing to pay for that. All Airbnb must do is maintain this digital marketplace with suppliers and consumers. Second, platform companies have very low marginal costs. Traditional companies in the B2C industry have to employ someone to promote and market their product for every transaction made. For example, when Walmart opens a new store, it has to employ many workers to provide service to customers. Platform companies such as amazon simply use AI and digitization to recommend customers items based on their records and allow payment without having to employ anyone like Walmart. All they need is one skilled programmer that can code out such functionalities and use them again for every customer. Third, platform companies can use AI and big data technology to get more information about the customer and provide targeted services. Unlike offline locations, a website is easily traceable. Every click, exit, or any action on a digital environment is traceable. All major platform companies use AI and big data technology to analyze customer data and provide personalized services. Due to all these advantages platform companies have, these days, traditional companies are also investing billions of dollars to bring their services to the digital world. In Korea, retail conglomerate, Shinsegae recently launched an e-commerce service called ‘SSG.com.’ It aims to gain a comparative advantage in delivery time from other e-commerce giants such as Coupang and Naver Shopping by extensively using its brick-and-mortar stores located all around Korea as distribution centers. Korean Banks, such as Kookmin Bank and Shinhan Bank are also aggressively investing in digitalization of their services, as digital banks such as Kakao and Toss, armed with convenience and digital accessibility, arise as their viable competitor. The platform industry is an industry where the first-mover advantage is the most prominent. This is because major platform companies can perfect and personalize their services to the levels second movers cannot even imagine, using the Petabytes of data millions of visitors spew every day. Today, the platform industry is dominated by American, Silicon-valley bred tech companies, and the NASDAQ index, a stock index composed of major tech companies, is at an all-time high, almost 8 times its level in 2010. The prominence of the platform economy will certainly be as high in the future, if not higher.

Today, living without plastic would be almost impossible in everyday life. The world’s plastic production is increasing rapidly, creating massive amounts of plastic waste; thus, problems related to plastic waste are occurring everywhere. South Korea is often characterized as “The Trash Kingdom” or “Plastic Korea” due to the prominent amounts of plastic waste generated every year. The annual plastic waste per capita is nearly 100 pounds, placing the country as the third-biggest waste producer after England and the United States. Yet, the problems around plastic waste extend far beyond Korea, but it is estimated that by 2040, the amount of plastic worldwide could reach around 1.3 billion tons. The social impacts surrounding the immense litter are distressing; the microplastics produced during decomposition often end up in foods and tap water, and endocrine-disrupting chemicals emitted from plastic waste can cause reproductive disorders and cancer. Plastics' initial use for convenience is now shifting to becoming a detriment to the environment and health. Surprisingly, the toothbrush, an essential household item used in our everyday lives, is one of the leading products that contribute to the astounding amount of plastic we throw away every year. If the world’s population followed the standard advice to replace their toothbrush every three months, we would dispose approximately of 29.4 billion toothbrushes annually, equivalent to 600 thousand tons of waste. Toothbrushes are also considered especially difficult to recycle due to the small and sturdy parts in toothbrushes; most small plastic pieces get incinerated or end up in landfills where they take up to 500 years to biodegrade. Therefore, by having these problems regarding plastic waste in mind and recognizing the potential of a business solution, a dentist named Geunwoo Park initiated the social venture company Dr. Noah and began developing biodegradable bamboo toothbrushes as a substitution for plastic ones. Park wanted to reduce plastic waste through his business solution and wanted to increase the income of residents in impoverished areas, including locations where bamboos grew. In terms of business management, Park thought ahead of most Korean organizations contemplating environmental, social, and governance (ESG). He sought to create consonance between the growth of staff and the company. Currently, Dr. Noah has manufactured nearly 1 million bamboo toothbrushes, resulting in reductions of plastic waste by almost 17,000 kilograms and an increase in the income of formerly impoverished communities. Its production has cultivated a work environment that promotes efficiency and balance through autonomy, delegated decision-making, and a growth mindset. Dr. Noah elucidates on how companies can successfully apply ESG to their management. The main advantages of bamboo toothbrushes are the ability to biodegrade much faster than a plastic brush. Although the bristles on bamboo toothbrushes are made with nylon, a material that does not biodegrade quickly and has no developed alternatives, the environmental footprint it endures is much smaller. Moreover, the population is growing interested in zero-waste products, including the generation MZ, whose consumption patterns are shifting to greater awareness of the environment, thus making increased purchases based on personal beliefs and values. Furthermore, the impacts of bamboo toothbrushes go beyond the environmental impacts. The significant economic and social implications of bamboo toothbrushes are the advancement in the income levels of residents residing in low-income regions. In 2008, while Chinese bamboo producers received $110 to $130 per ton of bamboo, Vietnamese bamboo obtained $30 to $40 per ton. This occurrence was due to the low demand for building materials and glasses in Vietnam. Yet, the impact of Dr. Noah’s work in increasing the demand for raw materials from suppliers in low-developed regions of Vietnam to provide sustenance for a product with high added value allowed local suppliers to raise their price, therefore leading to increasing resident income. Today, in Thanh Hóa, Vietnam’s largest bamboo-producing region, the residents earn a monthly income of around $67; it is estimated that approximately 1,350 poor bamboo farmers have managed to reach the median income level. Dr. Noah’s sales reached nearly 1.1 billion won in just half of 2021. The social and financial values are entirely consolidated with their social business model; as the sales increase more rapidly, the greater the social achievements are fulfilled. However, Dr. Noah does not hope to be the company that sells the most toothbrushes in the world. Instead, they wish to maximize their social impact by becoming the company that inspires every plastic toothbrush company in the world to produce its bamboo toothbrush. The environmental effects that Colgate, the world’s number one seller of toothbrushes, could undergo if it sold eco-friendly products is substantial. Park remarks there is nothing more rewarding than incentivizing global companies to take green action. Since 2016, Dr. Noah has consistently been carrying the path of sustainable ESG management to aim for social innovation and social impact. The company's continual efforts to conduct new research and develop into a more socially valuable company have led to social, economic, and environmental success. In the future, they will explore more ways to quantify the impact generated from its supply chain, especially in how much the partnership has improved the Vietnamese bamboo farmers' and their families’ quality of life. Today, we stand amongst the growing interest in social enterprises. Dr. Noah provides constant inspiration for entrepreneurs who dream of starting new social enterprises that take social responsibility in all levels of ESG.

Since the beginning of the 21st century, the international society has worked hard to resolve numerous social issues including poverty and inequality setting specific goals in form of Millennium Development Goals and Sustainable Development Goals. “Sustainability” was the value that was emphasized and align with this is the appropriate technology. Appropriate technology refers to a technology that suits the “social and economic conditions of the geographic area in which it is to be applied”. This technology is also environmentally sound and is sustainable as it is self-sufficient. The fact that appropriate technology provides the local communities with sustainable solutions to deal with their problems makes it valuable. To add, although not necessarily advanced than modern technology, local people can easily make use of this technology with already existing knowledge and experience thereby solving immediate problems. Also, as it is decentralized the technology can be spread easily within the community. Another merit of appropriate technology is that it is environmentally friendly. Instead of fossil fuels, renewable resources are mainly used in this technology including energy from water, sun, and wind. Especially it is helpful in developing countries considering the fact that “it is challenging to transfer technologies used in developed countries to developing countries in sustainable ways because the socio-economic and cultural conditions are different” as mentioned by United Nations. The appropriate technology was used during the pandemic especially in the field of health as well. The first example is the ventilator. The usual ventilator that uses proportional valves and flow sensors to control the pressure differences is expensive to create. However, with an increasing number of patients during COVID-19, a low-cost ventilator design was needed to deal with them. A prototype ventilator based on “on-off valves” was created by a group of researchers at Imperial College London. Unlike proportional valves, these on-off valves are easily available. This ventilator uses four on–off solenoid valves, a two-litre reservoir, an oxygen sensor, and two mechanical pressure sensors. Instead of pressurized gas supplies that cannot be supplied sustainably in low-resource settings like in developing countries, it utilizes a portable home-use oxygen concentrator. Another example is the low-cost COVID-19 vaccine called “NDV-HXP-S” which uses chicken eggs similar to influenza vaccines. As its ingredients are easy to acquire, they can be produced in large quantities. Moreover, this vaccine is easier to afford especially in developing countries compared to Pfizer and Moderna, which have to be produced in specialized factories using ingredients that are hard to acquire. The way to store and distribute these vaccines is also less difficult considering that they can be stored at 2-8 Celsius. Currently, this vaccine is regarded as a “new promising economical vaccine” and it is under clinical trials in numerous countries including n Vietnam and Thailand with plans for Brazil. If proven of its safety, not only middle-income countries but also developing countries would be able to deal with pandemics more efficiently and citizens would be able to get the vaccination at a low cost.

With many industries experiencing a digital transformation, Artificial Intelligence (AI) has emerged as a main driver in technology-driven projects. Although the development and training of AI contributes to the carbon footprint, AI has the potential to provide innovative solutions for building environmental sustainability, such as reducing carbon emissions, managing food waste, developing more eco-friendly transportation networks, and other issues to tackle global climate change. Also, AI is expected to enable more targets of the Sustainable Development Goals(SDG) categorized into the three main pillars than those that are inhibited by AI. According to Forbes articles, AI’s capability of impact decoupling and resource decoupling are major benefits of using it as a technology for tackling challenges imposed by climate change. Not only can AI be used to decrease carbon dioxide emissions in the energy sector by forecasting the supply and demand of power, but it can also be used to create more efficient processes for managing renewable energy as well as reducing fossil fuel emissions. Moreover, management of resources from environments and raw materials can be optimized which allows to create more from less. For instance, with food systems, crop yields can be better monitored and help reduce any excess use of water and chemicals as well as reduce food waste by predicting demand and finding spoiled food. Moreover, with AI, energy use can be minimized as human errors are reduced. More efficient processes can be developed for businesses by removing unnecessary steps. Environmental sustainability and tackling global climate change are part of the strategies of major companies in varying industries. Startups that employ AI for environmental sustainability are also emerging as environmental sustainability is becoming the core goal of many businesses. For instance, AI startup Greyparrot is an example of how AI is used for achieving net-zero waste. The startup developed an “AI-powered computer vision software to increase transparency and automation in recycling.” According to the CEO, a vision system is applied in an automated waste monitoring system where deep learning (AI) based computer vision models are used to identify the material of the waste from 40 and more waste categories. Then, the data is displayed in real-time for data analytics of the waste. For instance, in South Korea, an impurities detector has been applied to help with sorting and increase the purity of the recycled PET plastic which increases the chance of recycling. Furthermore, in response to the negative environmental impacts of AI, Google DeepMind developed AI that can self-teach itself to become more efficient and reduce the energy used to cool data centres by 35%. Not only that, on October 6th, Google announced new features to its core products that will support users to make more sustainable decisions. For instance, by applying AI and data on energy use, Google added a new feature where customers can now not find the fastest route but the most eco-friendly, fuel-efficient route that reduces carbon emissions. Being able to see numbers allows customers to become more aware of the environmental impact they are making while travelling on vehicles. Moreover, IBM uses AI to improve the accuracy of weather forecasting by 30% which helps to better manage renewable energy plants, maximize production, and reduce carbon emissions. As such, the positives of AI as a tool for innovative solutions for protecting our environment outweigh the negative impact it leaves. As shown above, AI is expected to be at the core of leading environmental sustainability and creating a sustainable future in the Digital Age. Conducting more studies and research on how AI can be used for social good as well as increasing accessibility of environmental data for AI development are crucial steps to take for building a sustainable future.

Sprite, Minute Maid, Dasani, and Powerade all seem to have different origins as they all have different names. However, they all come from the same brand, Coca-Cola. They are all owned by Coca-Cola. Honest Tea and Fairlife are also under the once-coke company's influence. Pepsi-Co. Inc. and The Coca-Cola Corporation maintain a duopoly within the carbonated soft drink (CSD) industry. According to Investopedia, Coca-Cola's carbonated soft drink market share amounted to 42.5% in 2015. Also, the same source reported that Coca-Cola had a market cap of $185.8 billion in 2020. Both companies are already warring parties of the "cola wars" and are expected to dominate the overall beverage market. In fact, Coca-Cola's market dominance is very significant as its products are simply available in every country, even in Cuba and North Korea. Coca-cola started as a soft drink company that targeted the carbonated soft drink (CSD) industry. However, as the company became popular, it began to absorb various brands specializing in each drink type. Now, Coca-Cola's spectrum of products varies from Coke to iced tea to flavored water. It is also reported that Coca-Cola is investing a lot of resources in pioneering the energy drink market. A high protein, low sugar milk variant Fairlife is said to be successful among the millennials that want better products at a premium. Coca-Cola understands trends of the market well. When health concerns like obesity and diabetes arose, Coca-Cola, fearing its loss of revenue, started developing lower-calorie and lower-sugar sodas to maintain its customers. Coca-Cola Zero and Diet Coke are popular relatively-healthy products. Also, when many people began to raise awareness toward environmental issues, this company introduced its various types of beverages into smaller-size recyclable plastic containers to show its directions toward the pro-environment business model. The logo of Coca-Cola is written in the Spencerian script used by accountants during the 1920s. Thus, the logo reminds people of the old days when the United States experienced its best economic prosperity after World War I. In fact, only a few customers of Coca-Cola would know the feeling of the 1920s; however, the sense created by this logo clearly differentiates Coca-Cola from other competitors. While Pepsi, its main competitor, decided to invest diversely in other industries, Coca-Cola is known to have dominated the beverage industry almost exclusively. This behavior of Coca-Cola communicates to the customers the concentration and focus to make good quality beverages, which subtly gives customers more credibility. However, Coca-Cola shows a philosophy of diversified but regulated: Unlike Pepsi, Coca-Cola never conducts the cross-promotion of multiple products in multiple industries. Coca-Cola’s commercials, if summarized into one word, would be a pleasure. Coca-Cola uses very simple slogans such as "Enjoy," "You Can't Beat the Feeling," and "Happiness" that can be easily translated through any language across the globe. Simplicity in advertisements and commercials has increased its customers base. According to Revenues and Profits 2021, Coca-Cola maintains a network of company-owned or -controlled bottling and distribution operations as well as independent bottling partners, distributors, wholesalers, and retailers. Coca-Cola's famous business model: Concentrate Business Coca-Cola only sells concentrates and syrups (including fountain syrups) to authorized bottling partners. Bottling partners combine the concentrates with various options like sweeteners, sparkling water, etc to produce finished beverages. The finished products are then packaged and sold to retailers or wholesalers. Coca-Cola can avoid costs associated with manufacturing, storage, and distribution. Also, Coca-Cola can have bottling partners responsible for meeting customer demand; these partners have to conduct their research on local customers to carry out the finished branded beverages effectively.

The word "Metaverse" has become a strong current these days especially during the COVID era, as more people seek online social connections. The term metaverse is a compound of the two words which are; 'meta' that stands for transcendence and the world, and 'universe'. Since the metaverse is constantly evolving from time to time, it is hard to make an exact definition of what metaverse is. This term itself may seem new, but metaverse is something that people living in the 21st century have always been familiar with. ASF (Acceleration Studies Foundation), an international foundation of scholars studying revolutionary systems classified metaverse into four sectors: augmented reality, lifelogging, mirror worlds, and virtual worlds. 'Lifelogging' sector may be the most familiar category of metaverse to those who are used to posting their daily lives via Instagram, Facebook, Twitter, or any other forms of social network services. Some may doubt why lifelogging is considered a revolution, but lifelogging has created an entirely different form of social networking. The most significant characteristic of lifelogging is the 'controllability' of one's network. In real life, when we struggle with people and have conflicts, it takes time and effort to resolve the tension between the two. Even though you want to cut out the person you detest, you have to contemplate what to say and make an effort to do so. On the contrary, in the lifelogging universe, all you have to do is to click a button called 'unfollow', or you can even restrict them from visiting your page. This enables redefining the concept of a 'friend' in an online space. Ties between people could be easily connected or severed. In this regard, some consider lifelogging services such as SNS to be a waste of time and there are numerous quotes from celebrities explaining how SNS could ruin one's life. However, there are some positive perspectives as well. You unintentionally learn from various people that, in real life, you can never have a connection with. 'Mirror world' refers to services that copy the structure and information of the real world into the online universe. In this way, it increases efficiency and enables people to reach out further. A good example of the mirror world could be Google Map, which captures the streets and landscapes of the real world and displays them to people through websites and applications. Even though people do not visit the place, they could simply tap their destination and find their way through this online platform. Another familiar example could be '배달의 민족', a Korean delivery application that allows people to make an order online without visiting the actual real-world restaurant. To make it simple, the mirror world is the reflection of the real world with more efficiency and expansion. Mirror World has a variety of usage from education, transportation, banking, cultural content, and so on. Augmented reality and virtual reality are the most recent of the four metaverse categories. To make a distinction between the two, augmented reality refers to the combination between the real environment and graphics that cover reality, whereas virtual reality is, simply put, a new open world. The combination of the two is called MR(Mixed Reality) where the line between the real world and virtual reality is invisible, where people could freely interact with AR objects in real life (you could think of Tony Stark in the movie Iron man freely controlling and interacting with graphics in the real environment). XR(Extended Reality) is a term that includes all of these three (AR, VR, and MR). To understand augmented reality, it is the same as putting a camera filter while you take a picture of yourself. The most commonly known game that implemented AR technology is 'POKEMON GO', a game where players could roam around the real environment and track POKEMONS while paying attention to their cell phone. However, augmented reality is an effective tool in the business sector as well. A famous furniture corporation, IKEA, adopted a system that displays how the furniture would fit in their clients' room by overlaying the graphics of the furniture into clients' rooms. This marketing strategy increases the possibility of customers making purchases as they could have a strong belief that the furniture will fit into their rooms. Moreover, factories are also utilizing augmented reality to increase the efficiency of their work. To illustrate, 'Airbus', a European aircraft company implemented a system called 'MIRA', which is an augmented reality system that provides all the information of the aircraft undergoing construction in 3D graphics. If workers place their camera on aircraft, the system shows the structure, possibility of malfunctioning, and so on. This way, Airbus was able to significantly decrease their time of production from 3 weeks to 3 days. Implementing AR in factories drastically increases productivity, so nowadays many firms are adopting AR in their production line. Finally, virtual reality is a whole different world made out of graphics that hands in exclusive experiences to people. It is an open online world where people could roam around and interact with others by one's avatar that could replace oneself. Virtual reality is not a completely new trend in the game industry, especially in online MMORPG(massive multi-player online role-playing game) games. The open online world was introduced in various online games such as Minecraft, World of Warcraft (WoW), Battlegrounds, and so on. Players interact with each other in a completely new field. In Minecraft, players could create diverse constructions freely and could even invite other players to their place. In Korea, as a means to celebrate Children's Day, since it became impossible to hold a ceremony in the Blue House due to pandemics, the Blue House opened a Minecraft version of Blue House to invite children. Since Minecraft is a popular game among children, many children had the chance to visit this virtual blue house with their avatar. A similar example could be president Joe Biden exercising an election campaign in a Nintendo game called 'Animal Crossing' by designing a house that resembles his actual office and opening it to anyone playing Animal Crossing. These are examples of virtual reality that most people are familiar with. However, recently, virtual reality is taking more steps. 'Half-life Alyx' is a VR game that requires players to wear VR gear for playing. What is special about this game is that players could interact with objects in virtual reality by grabbing or throwing them. They could run, or walk around the map, and could even feel the weight of the objects they are touching. This type of VR game is what nowadays many game companies are making efforts to design one. Metaverse offers diverse experiences to people that they cannot experience in the real world. Though there are many concerns about metaverse such as addiction, losing social skills, and lots of health issues, it is an undeniable fact that researching and developing the categories of metaverse will surely improve our quality of life.

The era of the electric vehicle market began in earnest with the release of cost-effective electric vehicles that use platforms exclusive to them, and global automakers nowadays are fiercely joining the competition to take the initiative in the market. Although not yet ready to compete with internal combustion engine vehicles, it is without a doubt that electric vehicles will be able to strengthen its competitive edge within several years. Recent announcements made by global automobile companies support such trend. Earlier this year, General Motors announced that it would stop selling petrol-powered and diesel models by 2035. Audi, the German automobile maker, also announced their plan to stop producing such vehicles by 2033. Many other multinational automobile companies also have released similar plans. One of the most significant factors that drive the future of respective automobile companies is the price of the battery used in automobiles. While internal combustion-engined cars get energy from burning petrol or diesel, an electric vehicle gets its power directly from a big pack of batteries. Currently, this battery price amounts to about 40% of the cost of electric vehicles, serving as one of the factors that block the consumers’ willingness to purchase electric vehicles. Therefore, without a lower battery price, the competence of electric vehicles will be limited. Currently, the most advanced type of battery is a lithium-ion battery. A lithium-ion battery is a type of rechargeable battery used in electric. However, the battery is very vulnerable; the slightest pressure on the battery can lead to fire hazards. The alternative is a solid-state battery that increases energy density and resilient to shorted life from repeated charging. A solid-state battery is resistant to heat, which decreases the chance of the battery overheating. Since the technology needed to produce solid-state batteries in mass quantities is yet to be developed, battery companies are making every effort to succeed in do so. Along with such innovation in production methods, competition in a national level is fierce given the growth of the electric vehicle battery market. Currently, the world's top players in the electric vehicle battery market can be grouped as three Asian countries: South Korea, China, and Japan. Recently, Chinese battery maker CATL's plan to shift the electric vehicle market toward a sodium-ion battery received a support from the Chinese central government. Korean companies including LG Chem, Panasonic, Samsung SDI and SK Innovation are also dominant players – Several automobile companies in Asia, Europe and the US would receive battery from these producers for the next few years. Japanese car maker Toyota and Panasonic have also recently announced its plan to initiate joint venture to produce batteries either. Until now, electric vehicle manufacturers have delegated about 40% of their batteries to companies specialized in manufacturing batteries, but recently global manufacturers are hoping to produce batteries on their own. Tesla has recently declared to develop its own battery production within a few years, and many global manufacturers seem to be willing to follow Tesla’s footsteps in the field. Of course, manufacturing batteries itself is a rather high-tech industry and so it is not likely that start-up companies would be able to succeed. Still, it is expected that global manufacturers will eventually succeed in producing their own batteries. As existing battery companies have picked up on such trend, they will secure and specialize in more relevant specialized technologies, and eventually, it is expected that global battery companies will also be able to produce electric vehicles since it becomes easier for them to subcontract electric vehicles. In the end, it is expected that there will be fierce competition among companies regardless of their respective fields. So far, among the three Asian countries taking the initiative in global battery market, the industry's overall excessive reliance on China has been pointed out with the outbreak of coronavirus, which resulted in massive shortage of battery production. As a result, carmakers are actively seeking for the opportunity to secure independent battery supply mechanism from the excessive dominance of Chinese battery makers, making their effort to challenge Chinese hegemony. After all, the key factor of the future of mobility depends on who achieves independence in producing batteries and the possession of differentiated and high-performing battery technology. We look forward to the next generation of batteries in the future.

How Laws and Regulations change in pace of digital revolution and development - Do Yeon Lee (Academic Affairs)

Being healthy has been one of the biggest goal in man history. The development of medicine and medical procedures are ongoing on a exponential rate. With the pandemic we were able to realize the importance of medical treatment for the mankind. Providing the adequate procedures as fast as possible has become our priority. With than being said, experts speculate that incidents like the Corona Pandemic is likely to occur more frequently. With the adequate amount of resources we would be able to deal with the upcoming threats more wisely. The SK Biopharmaceuticals commenced research and development of new drugs in 1993 as part of their search for the next-generation growth engine of SK Group. The exciting ascent of SK Biopharmaceuticals began with opening the company’s first Investigational New Drug Application (IND) with the FDA, the clinical trial of a new candidate drug substance in 1996. Since then, the company has focused on the development of treatments for central nervous system (CNS) disorders and accomplished the following milestones: The company became ▲the first Korean company independently develop an investigational anti-epileptic drug through to an FDA approval (cenobamate), ▲a company that has made a successful out-licensing deal to commercialize its investigational anti-epileptic drug in Europe (cenobamate), ▲the first Korean company to discover and develop a compound to treat a CNS disorder, which was licensed out, and eventually approved by the FDA and EMA (solriamfetol). In addition, the company recently began research for the development of drugs to treat brain tumors, including metastatic tumors, based on our experience accumulated in research and development of treatments for brain disorders. Currently, SK Biopharmaceuticals is conducting basic research for the development of innovative new drugs at the Life Science Research Institute in Pangyo Techno Valley in Gyeonggi Province. Further, SK Life Science, Inc. in Paramus, New Jersey, USA, is pursuing global clinical development and marketing. In addition, SK Bio-pharm Tech. Company, Ltd. in Shanghai, China is striving to secure opportunities for local strategic alliances to advance development and commercialization in China. SK Biopharmaceuticals aims to grow into a Fully Integrated Global Pharmaceutical Company (Global FIPCO), equipped with an entire value chain ranging from development and manufacturing to commercialization via its own sales and marketing organization. - By Yujin Kong (Academic Affairs Department)

Procter & Gamble (P&G), the parent company of brands like Gillette, Always, Olay, Tide, and others, is responding to environmental issues with partnerships, campaigns, and product changes to promote a greener future. In comparison to other industries, the Consumer Packaged Goods (CPG) industry is somewhat conventional, with less emphasis on innovation and change. However, CPG products have enormous potential for more sustainable practices. The CPG industry faces three major challenges as it evolves its business model, especially as it transitions toward a more sustainable model. Introducing circularity into the business model: While sustainability considers the effect on humans, the environment, and the economy as a whole, circularity focuses primarily on resource cycles. Rather than constantly producing new goods, a sustainable circular economy means creating and encouraging products that can be reused, restored, and remanufactured. Avoiding the tokenization of sustainability: One of the big challenges consumer goods companies face is to convince existing consumers that new changes to packaging, manufacturing methods, etc. are aimed at improving sustainability, not just at creating more revenue. Increased transparency: Companies should be ready to respond to customer inquiries to provide detailed reports on how the business is using natural resources. In order to meet these challenges, P&G established the following two methods to contribute to promoting sustainability in the CPG industry. Ambition 2030: In 2020, P & G announced its new ecological sustainability goals, which are intended to have a positive impact on the environment and society and create value for companies and consumers at the same time. As part of this initiative, P&G pledged to reduce its footprint and fight for circular solutions through three main goals: (1) Using 100% renewable energy and halving greenhouse gas emissions at P&G locations. (2) Increasing water efficiency in P&G locations by 35% and producing at least 5 billion liters of water. (3)Advancing at least 10 major supply chain alliances to boost climate, water, and waste circularity. Project HolyGrail: P&G supports Project HolyGrail, which seeks to raise recycling rates in Europe through improving plastic sorting. P&G's dedication to the Holy Grail project has resulted in packaging that is both functional and recyclable. Some specific examples are: (1) P&G's Fabric & Home care brands, including Ariel, Lenor, and Fairy dishwashing capsules bags switched from multilayer, non-flexible packaging to single layer, recyclable Polyethylene packaging. (2) Gillette and Venus have launched innovative and recycled packaging for their refillable razors, switching from plastic to recyclable cardboard packaging. As shown by the latest steps and long-term goals of P&G, the company values disruptive, creative packaging and goods that meet their customers’ needs as well as promote sustainability in the Consumer Packaged Goods (CPG) industry. Sources https://pg.co.kr/environmental-sustainability/ http://www.cleanfuture.co.in/2020/08/21/pg-recyclable-packaging/ https://www.globalcosmeticsnews.com/procter-gamble-announces-new-ambition-2030-sustainability-goals/ https://www.coda-plastics.co.uk/blog/what-is-the-holy-grail-project https://www.sclpro.com/procter-gamble-launches-new-fairy-ocean-plastic-bottle-made-from-100-recycled-plastic-and-ocean-plastic/ - By Minlo Lee (Academic Affairs Department)

‘Maker’ stands for those who make what they want. They create, share, cooperate, and integrate knowledge regarding what to make and how to make based on internet open sources. They also advance goods development and manufacturing, as well as address all those who participate in making. Makerspace stands for manufacturing space where ‘superintelligence’ such as governance, IoT (internet of things), and3D printer and ‘super connection’ are merged. Makerspace, which resulted as an effort by the government for creating a platform for citizens to blossom their ideas, assists education, mentor, high price equipment for producing good ideas and creating a trial product(prototype). To raise funds for prototypes of high quality, they are establishing a founding platform for connecting crowdfunding or corporate investment. It has its branch not only in Yonsei University but also in other universities in Korea and abroad, including European Regions, United States, etc. According to the purpose and object of Makerspace, the key to this year’s Makerspace would be changing the main agent of Makerspace from the government to citizens. Also, it aims to expand the user range from experts to citizens of all ages and social classes, and establish a platform for creative association, such as the association of cultural activity and technology. In the process of achieving this goal, two examples of ‘Culture house of Bukgu’ and Korea University’s ‘X-GARAGE’ show how various activities embrace various ages as well as integration of culture and technology. ‘Culture house of Bukgu’: Opened on October 24th of Bukgu, it works as a cultural house where people of all ages have been longing for 20 years. What it aims is to contemplate on the essence of ‘Making’. Through activities such as cooperation of master’s arts and cutting-edge machines, self-making, and editing work, and sharing hobbies, it tries to contribute to the expansion of Makerspace culture. In 2019, it implemented 15 projects. Above 15 projects, 3 projects received attention. The first one is the ‘Indoors Racer Project’. With a subminiature camera installed on RC cars, we can see the race going in real-time as well as control the car. The project is significant in that it tries to integrate RC car racing activities, which is culture, and technology through using miniature cameras and conducting the virtual race. It won the ‘2019 Grand Makerday’ cultural zone popularity vote. The second project is remarkable in that it tries to endorse women who have not been able to continue her career. The project is that with women whose career has been broke as well as housewife, (5 in total), it fixes any electronic gadgets that cause discomfort in their daily lives. For example, it created ‘Do not bear the discomfort’ as its slogan and ‘Housewife invention project’, fixing the households as their own. They created an air purifier that does not release harmful chemicals. This is remarkable in that the project tried to include women in their 40s and 50s, and did not limit the agents of Makerspace projects to university students. The second example of Makerspace is Korea University’s X-GARAGE. X stands for unknown quantity x, which represents the possibility of making anything and growing. One remarkable project that deals with the combination of culture and technology is ‘Team Lattice’, where it created a drawing robot for drawing murals. The second project was ‘X-DAY: EX-KIDs’, which deals with ‘Kidults’ whose legal age is adult but personal interest is rather close to kids. Making keyring of one’s own using the inner space and device, puzzles, assembling puzzles, and RC car racing contest allowed them to enjoy activities with other makers. Although Makerspace is a space for creation and interaction with makers, there is a clear trend in its implementation. First, Makerspace tries to embrace possible Makers of all ages, and second, it tries to fuse culture and technology. With its piece of ethical effort, it is expected to improve onwards. Sources European bio-energy research Institute (EBRI and STEAMhouse. “Urban Manufacturing.” COLLABORATIVE MAKER SPACE CASE STUDY SUMMARIES, 2017, pp. 2–3. Interreg Europe, www.interregeurope.eu/fileadmin/user_upload/tx_tevprojects/library/file_1556879611.pdf. “2019 Makerspace Examples ‘Culture House of Bukgu’ and Korea University’s X GARAGE.” MAKEALL, www.makeall.com/network/storyview.php?tsort=3&msort=10&no=295. Accessed 11 Apr. 2021. - By Do Yeon Lee (Academic Affairs Department)

According to a European Plastics and Rubber Machinery survey study, Korea ranks first in the world with 132.7kg of plastic consumption per person per year. Plastic is causing severe problems not only in our country but also all over the world. Scientists estimate that by 2050, the weight of fish living in the sea and marine plastic will be equal. The plastics that do not decay will be broken into small pieces by waves and wind, which will become microplastics, eventually accumulating in the bodies of marine life, which will end up on our table. Plastic pollution in the ocean is a severe problem that is directly related to the survival of humankind and the marine ecosystem. Significantly as the coronavirus outbreak pandemic has prolonged, the concerns over plastic consumption are serious. As non-face-to-face consumption spread, emissions of plastics from packaging materials, fillings, ice packs used to deliver packages and food have increased rapidly. It's hard to imagine the Earth where plastic is completely gone right now. However, efforts to reduce disposable plastics are worthwhile. And it must be done. Fortunately, the movement to try various solutions is increasing with discarded plastic bottles. One of them is the recycled fiber that recycled plastic waste. Plastic bottles and scraps floating in the sea can be collected, cleaned, crushed, and refined to make nylon and polyester, the raw materials of synthetic fiber. It is from the core founding that plastic and polyester materials are equivalent. Patagonia is a representative brand that started to make clothes by reprocessing plastic bottles. In 1993, it collected the industry's first discarded pet bottles and reprocessed them into the polyester fabric to complete fleece products. Patagonia was the first outdoor clothing company to make clothes from recycled material. Fleece clothing made from plastic bottles was the first step toward creating sustainable production methods that would use fewer resources, reduce waste, and improve people's lives. Patagonia now makes more recycled polyester and uses it for various clothing, such as capelin base layers, shell jackets, board shorts, and fleece. They collect plastic bottles, unusable fabrics, old clothes and recycle them into new polyester. Their use of recycled polyester reduces the dependence on oil, the source of the polyester. Because the amount of waste is reduced, the waste site can be used longer, and the pollutants from incinerators are reduced. It makes it easier to recycle worn or old polyester clothing, reduce air pollution, use less water, and reduce soil pollution. The trend of plastic fashion involves many other brands, too. Northface's flagship product last season, Think Green Fleece Jacket, using 100% recycled fabric recycled 50 500ml PET bottles per jacket (L size). Nau, which started in Portland, also proposed a "sustainable fashion" fleece recycled PET bottles. Ralph Lauren introduced the "Earth Polo," a collection of threads extracted from recycled plastic bottles. Twelve plastic bottles were used for each shirt, and the water-free process was carried out to reduce environmental pollution. It also ran a hashtag campaign called #TheEarthPolo on social media. This does not mean that we can get rid of all plastic in the ocean. However, we can at least reduce the production of another plastic and new polyester. The point is not to live as an environmental activist who cares about the environment and loves it with aspirations. Just paying attention to a brand that strives for a sustainable environment is enough. And by being conscious in our daily lives and reducing plastic products little by little, we can save the Earth. Sources Pardes, Arielle. “The Future of Fashion in One Word: Plastics.” Wired, Conde Nast, www.wired.com/story/plastics-in-fashion-everlane-renew/. Patagonia: We’re in business to save our home planet. “What We're Doing About Our Plastic Problem.” Patagonia, 10 Feb. 2020, www.patagonia.com/stories/what-were-doing-about-our-plastic-problem/story-72799.html. - By Soomin Kim (Academic Affairs Department)

Reforming regulatory policies is the first priority that Korea should manage in preparation for the gale of the fourth industrial revolution. According to the research of Tech&Ro, an IT law firm, 13 out of the world's top 100 unicorn startups are banned to implement their business model in Korea, and 44 are only available to run on condition. Though more and more young Koreans are trying to take an untraveled path despite the harsh environment, their attempts seemed to be cut out due to the strict legal system to prevent risks in advance. The ‘Regulatory Sandbox’ is a policy for those socially innovative technologies that are blocked by the legal system and fail to see the light. It is a system that suspends the enforcement of existing regulations for a certain period of time when new products and services are released. The expression "Sandbox" was literally derived from the sand playground that children are allowed to freely play in, so that companies just like children would be able to freely spread various ideas within Sandbox in the boundary of protection. The approach to implement regulatory sandbox was first initiated in the UK to foster the fintech industry and has since been launched in more than 20 countries around the world. So how can implementing regulatory sandboxes promote social innovation? First, it allows companies to gain an upper hand in the competition for innovative ideas in the global market by giving them leeway to freely test their products and services. For startups, regulatory sandbox makes it possible to commercialize products and services based on innovative ideas, and also has the effect of reducing costs to deal with uncertainties of regulations. Second, consumers would be guaranteed a wider choice of innovative products and services, which would allow them to enjoy wider benefits and conveniences. Further, positive reactions given by consumers could also contribute to creating new jobs in newly created industries. Third, at the government level, it helps to readjust and design a detailed regulatory legal system based on the experiences and feedbacks derived from the Sandbox cases. Based on empirical testing, regulatory frameworks for each new industry and new technology can be established. As such, the regulatory sandbox system should be encouraged in that its positive outcomes are not limited to individual companies, but reach to the overall industry and foster active social innovation. Recognizing the need for regulatory reform, the Korean government has also begun making proposals to introduce a regulatory sandbox in 2018, and since then it has been currently in effect for two years. As a result, 166 new technologies, about a half of that the government has made approval for, have been released to the market or in the process of the beta test. For example, ‘Towns’, a startup that provides idle car brokerage rental services between neighbors of apartments, was exempted from the regulation which requires businesses to own at least 50 vehicles to run car rental services. "Nets Mobility," a startup that provides customized service for the elderly unable to go to the hospital due to mobility difficulties, was also exempted from the regulation that only transportations provided by the local government are available to transport the mobility handicapped thanks to the regulatory sandbox. Last year, the "foreign stock decimals investment service ( 해외 주식 소수 단위 투자 서비스)" raised citizens’ access to foreign stocks by supporting investors to buy foreign stocks in small amounts (in decimals) on mobile platforms. In fact, a total of 621.3 billion won has been invested in services that have passed the regulatory sandbox after its establishment, which means that numerous startups and companies drew on a regulatory sandbox to lay out their vision for developing innovative services and technologies. Still, several limitations still exist. For example, though permissions are made through the regulatory sandbox, it often includes some “conditional approval" clauses that do not give companies full permission to run the service. Many companies fail to meet the strict conditions that government requires, and eventually run out of funds and close their businesses. For example, the service that provides shared accommodation among natives, which passed ICT regulatory sandboxes in November last year, failed to reach full permission due to the conditional clause which states that the owner of the house must be residing in the house during renting period and a house should be located within a 1km radius of Seoul Subway Lines 1 to 9. In addition, follow-up management is insufficient after the end of the period for the regulatory sandbox. For example, technologies developed by the companies in the field of ICT are not able to be continuously provided to customers, since there is no provision currently that allows extending the temporary permit period after its expiration. Currently, the approval period for ICT regulatory sandbox is two years and additionally allows a one-time extension for another two years. Therefore, many companies jump into the business assuming that regulations would be eased within the temporary permit period. However, as easing those regulations is a matter of effort, not obligation, there is a lot of uncertainty with regards to the continuity of the business and companies have to take the risk of being put on hold until they get full approval. Fortunately, the amendment that allows companies to continuously extend the expiration date has just passed the first threshold of the National Assembly, but there is still a long way to go. Still, is expected that South Korea’s regulatory sandbox policy would further bring in a system of flexible regulations with the goal of accelerating innovations in technology As the effectiveness and performance of the regulatory sandbox has been fully proven, it is hoped that additional legislative and institutional supplementation will be established in the future so that regulatory sandbox would serve as a desirable system that does not unduly slow down the pace of social innovation. Sources https://sandbox.kiat.or.kr/front/user/main.do http://liberalmedia.co.kr/news/article.html?no=50686 http://www.koreaherald.com/view.php?ud=20190328000331 - By Youbin Han (Academic Affairs Department)

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