Company Sponsored Students Provide Unique Perspective

Kwang Pil Jung
Class of 2010

Cornell University’s Program in Real Estate is fortunate to be the choice of numerous company sponsored students looking to earn a master’s degree in Real Estate.  In recent years, students have traveled to the United States to attend The Program in Real Estate from Japan, Thailand, and South Korea.

The Program in Real Estate’s Kwang Pil Jung ?10 is currently being sponsored by Korean based SK Engineering & Construction (SK E&C).  Founded in 1977, SK Engineering & Construction has accomplished continuous growth and development by diligently completing outstanding projects to meet the trust of customers in overall areas of civil engineering, architecture, and construction.* 

In 2007 SK E&C began the process of launching a company sponsored master’s degree program for its employees.  According to Mr. Jung, “the criteria for consideration for acceptance to the program are employee loyalty to the company and being viewed by the company as a valuable employee.”  There was no lack of interest in this opportunity with nearly one hundred employees applying for consideration.  Twelve employees were accepted for consideration with the last hurdle being acceptance into a graduate master’s degree program.  The inaugural class consists of seven employees who were admitted to master’s degree programs, all in the United States. 

SK E&C provides the financial support for tuition and living expenses for the employee throughout the two year timeframe.  Jung stated, “Additional benefits to both the company and the employee include the employee’s enhanced education as well as world experiences while studying in the United States for two years.”  In exchange for this opportunity the employee must agree to work for SK E&C for eight years upon graduation.  Kwang Pil will receive his degree in May 2010 and shortly thereafter will depart for South Korea. 

The Program will welcome recently admitted Takashi Ohashi as a member of the incoming class of 2012 in August.  Ohashi hails from Tokyo, Japan and will be sponsored by the Norinchukin Bank.The Norinchukin Bank (the “Bank”) was established in 1923 as a quasi-governmental financial institution. Privatized in 1959, the Bank is one of Japan’s largest and most distinguished banks. The Bank is the central bank for Japan’s agricultural, forestry, and fishery cooperative systems. Based on constant funds procurement from member cooperatives, the Bank carries out efficient and flexible asset management by investing in various financial products. This is carried out on a global scale. The profits from these activities are then continuously passed on to its members.  The Bank has branches in the world’s major financial centers, including New York, London, and Singapore. Coupled with its head office in Tokyo, this network enables 24-hour coverage of the global financial markets.**

The Norinchukin Bank will provide financial support for both tuition and living expenses for Ohashi while he is earning his master’s in real estate degree.  According to Mr. Ohashi, “The Norinchukin Bank typically sponsors four to five employees earning their MBA, two earning an LL.M., and this year, for the first time, one employee earning an MPS in Real Estate abroad.”  In return employees are expected to remain with the company for six years upon graduation. 

Ohashi expects to gain valuable skills and contacts over the course of two years of study.  Mr. Ohashi states, “I believe I will expand my Real Estate knowledge of the world because the curriculum covers a broad range of topics.”  Ohashi goes on to say, “In addition, honing international communication skills and building a human network will be a valuable part of earning a master’s degree in the United States.”  Furthermore, the Bank is looking to enhance the real estate investment knowledge base within their organization.

The Program in Real Estate is pleased to be the recipient of numerous company sponsored students.  As is the case with all of our fine students, it is difficult to say goodbye, but when one door closes another opens.  Although we must bid farewell to Kwang Pil, we are fortunate to be able to welcome Takashi to the Program in Real Estate family. 

* http://www.skec.com/
** http://www.nochubank.or.jp/annual/index.shtml