Economics of Mutuality: A Ground-Breaking Investment Approach Balancing People, Profit, and Planet

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ESG is facing increased scrutiny by investors, companies, policy-makers, and society due to a range of concerns, including greenwashing practices and misplaced priorities as exemplified by the recent banking crisis. 

A different path to traditional ESG exists. Economics of Mutuality (EOM) is a deeper integration of people, profits, and planet into investment and business operations brought by the authors of the book, "Completing Capltalism." Some call it "ESG 2.0." Can this new approach to investments and business transformation change the trajectory of companies and investments in Korea and Asia?

You are invited to join our next IFB event to find out.  EOM investment senior advisors Kwang Kim and Paul Gyra will facilitate a discussion on how to apply a mutuality approach to investments. Professor Hyun Sang Shin from Hanyang University, a leading academic expert on EOM in Korea, will provide with a response. Congressman Junghun Cho and Chairman Jinho Chung will Chair the meeting. 

This is part 1 out of 3 series. Following a successful event in February with presentations by the top leadership of EOM to IFB Seoul, we will gather in the coming months to explore practical implications of applying EOM in investments, business and policy. 

For more information about EoM, please visit: https://eom.org/

ABOUT OUR SPEAKERS

Paul Gyra, Economics of Mutuality 

Paul is a senior advisor for Economics of Mutuality. He is also a Managing Partner at Thompson Family Office in Washington DC. He is a seasoned business executive with over 32 years of experience in investment banking and asset management. Paul joined the Thompson Family Office from Global Investment Bank in Dubai, UAE where he was a managing partner and responsible for cross-border transactions and business development. Prior to that, Paul Gyra was the Chief Operating Officer, Head of Strategy, and Managing Partner at Safanad Limited, based in Dubai and responsible for the principal investment firm’s business operations and strategy across its Dubai, New York and London offices. Prior to moving to Dubai with Safanad, Paul Gyra previously held CEO positions at ING Alternative Asset Management in New York and Baring Asset Management – North America. During his tenure at ING, Paul also held a number of senior leadership roles based in Hong Kong, New York, Boston, Amsterdam and London on both the investment and distribution sides of ING Group’s asset management businesses. During this period, Paul also played an active role in managing a number of high profile strategic business reorganizations. Paul started his investment management career at Harvard Management Company in Boston, MA, after transitioning from Ernst and Young where he worked in their financial services practices based in London, Boston and Sydney.

Mark Nydam, Economics of Mutuality 

Mark has over 15 years of global impact and ESG investing experience leading teams at HarbourVest and PCG Asset Management that invested over USD 1 billion of private equity in the United States, Europe and Asia. Mr. Nydam has served on 20 investment fund advisory boards and 14 company boards across the global clean technology, renewable energy, impact and ESG space and was a member of the P8/P80 Group which was formed by Prince Charles to channel sovereign wealth fund and public pension fund investments into the impact space. Mr. Nydam served on the Fund-of-Funds Clean Technology and Renewable Energy Investment Committee at HarbourVest, and on the Management Committee, Clean Energy and Technology Investment Committee and the Fund-of-Funds Investment Committee at PCG Asset Management. Mr. Nydam has deep experience in ESG and impact benefits measurement frameworks and approaches and managed the formation of the first private equity ESG benefits measurement system for CalPERS' clean technology and renewable energy investments while at PCG Asset Management. Mr. Nydam has extensive relationships among global clean technology, ESG and impact investors. Mr. Nydam has an MBA with Honors and MA in International Relations from the University of Chicago. Masters and Bachelor of Science in Geology and Geophysics from Yale University.

Kwang Kim, Economics of Mutuality

Kwang is a senior advisor for EOM Investments, the private equity arm of Economics of Mutuality. He is the former Korea Country Representative at The Asia Foundation and co-founder of Impact for Breakfast Seoul. Previously, Kwang was the regional lead for International Finance Corporation (the private sector arm of the World Bank Group) in its Sustainable Business Advisory Services in Latin America & the Caribbean, as well as other partners, in de-risking investments, impact investment, and mainstreaming Environmental Social Governance (ESG) through advisory services. Kwang also served in advisory roles to the governments of Panama and the United Arab Emirates (UAE) on economic diversification strategies. In South Asia, he advised the public and private sectors on strengthening the competitiveness of the mining, tourism, and agribusiness sectors in the tribal areas of Pakistan. Kwang is also an advisor to Conservatorio Urban Innovation, co-authoring an Oxford University case study on urban revitalization models. He previously held adjunct faculty appointments with Georgetown University’s Landagger Program in International Business Diplomacy and with Hanyang University School of Business.

Hyun S. Shin, Hanyang University

Hyun S. Shin, Ph.D., is Professor and Director of Impact Business Research Center at the School of Business, Hanyang University. Prof. Shin is currently co-leading the research on Inclusive Growth Models in Asia with the Economics of Mutuality Foundation. He also serves as Director of Collective Impact Center, Director of Impact Science Research Center, Ashoka U Change Leader, and Editor of Stanford Social Innovation Review (SSIR) Korean Edition at the university. His research has appeared in premier journals such as Management Science and Sustainable Development. Through research, training, consulting, and advisory, he has worked with global companies, foundations, public institutions, NGO/NPOs, and social enterprises. He has also served as a member of Board of Directors at Korea Academic Society for Business Administration, Korea Academy of International Business, Korea Academy of Social Enterprise, Korea Marketing Association, and Korea National Advisory Board for Impact Finance. In 2019, he has founded a social venture, Impact Research Lab, which aims to measure impact and provide impact consulting. He received B.B.A. and M.B.A. from Seoul National University, M.S. in Economics from University of Illinois at Urbana-Champaign, and Ph.D. in Management from the Anderson School of Management, UCLA.

Jung-Hun Cho, National Assembly

Mr. Jung Hun Cho is currently a member of the National Assembly of Republic of Korea. He recently co-founded Transition Korea, a neither conservative nor progressive but rather allegedly pragmatic political party. Prior to his political career, he worked as a member of the Presidential Committee on Northern Economic Cooperation of Republic of Korea. Earlier, he was a professor at Graduate School of International Studies at Ajou University, Korea. Mr. Cho worked at the World Bank Palestine branch and helped a negotiation between Palestine and Israel and Cho worked under the Technical Advisory Team of the World Bank where he worked as a part of negotiations for Kosovo independence and fiscal decentralization from Serbia. He earned his B.A. in Business Administration at Yonsei University, Korea and M.A. in International Development at John F. Kennedy School of Government.

Jinho Chung, The Wells Investment

Jinho Chung is the Chairman and CEO of The Wells Investment and has been a CEO of Global IB and asset management, including Prudential Investment & Securities and Asset Korea for the past 35 years. He is seeking for 'the servant leadership' by helping people to maximize their intrinsic motivation in the financial market and is currently running 'Korea Impact Fund,' a leading social entrepreneurship fund in Asia.

ABOUT IMPACT FOR BREAKFAST

IFB is an informal global network of 1,700+ members from family offices, foundations, funds, venture philanthropy and intermediary organizations with a shared interest in social enterprise, entrepreneurship and impact investing. IFB members seek to learn from one another and to collaborate more effectively to increase their individual and collective impact. The Wells Investment is the Chapter Manager for IFB Seoul, in cooperation with MYSC and The Asia Foundation. For more information, please see: https://impactforbreakfast.com/