Three rapidly developing institutes exist within the College of Commerce & Economics at Yeungnam University (YU). The institutes' names are: the Global Business Institute (GB), the Trade Incubator Institute (TI), and the Trade Show Convention Institute (TSC). In addition to their work in their own departments, institute-members play an active part in external corporations, and, therefore, have to cut down the time they spend on their subjects of special study as well as their extra English studies. In order to find out why more and more volunteers are joining these institutes, The Yeungnam Observer (YNO) collected its own data.

The Global Business Institute. 
 

The GB was set up in 2003 by YU-professors, who thought that examination results and TOEIC- scores alone, were not enough for a student to find a job. The institute supports the Ministry of Labor in supplying professional data to small and medium-sized enterprises. In addition, the GB also conducts market research for various enterprises and engages in making recommendations on professional talent and trade opportunities.
 Recently, the GB successfully assisted Hansung F&C Co. Ltd with its Korean-to-English and English-to-Korean translation and contract-writing problems. TaeguTec president, Moshe Sharon, an Israeli, who knows no Korean, requested the GB to translate newspaper and magazine articles from Korean into English. The work was so successful that Mr. Sharon immediately held a special lecture for the members of the GB in appreciation for their work.
 The benefits of being involved with the GB's activities are infinite. First, GB-members can receive the Certificate for Achievement stamped with the YU-president's seal and the Letter of Appointment, issued by Daegu Chamber of Commerce and Industry. The greatest benefit, however, is that the members can acquire more experience for employment than other students. The members get advice from employed seniors and, by working on various projects, learn about work in international economics & business. When, therefore, GB-members are asked to give presentations to company employees, they are usually full of confidence.

The Trade Incubator Institute. 
 

The Trade Incubator Institute integrates both On-Line and Off-Line resources for export and import businesses. It promotes quality, up-to-date training for professional traders in order to promote foreign trade and develop the local community. In other words, the TI trains students who want to become trading merchants.
  The TI has participated in international and domestic exhibitions and provides information and interpretation services to small and medium enterprises and to their foreign buyers. Actually, in 2007, the TI participated in The Gift Exhibition of Japan and The Brussels Exhibition in Belgium, giving out samples and making various export contracts. The TI is also supported by the Gyeongsangbuk-Do Provincial Government Office, and will soon participate in domestic exhibitions at EXCO and COEX. Members of the TI regularly visit the Korea International Trade Association (KITA) and various commercial ports, gaining valuable work-related experience. TI-members receive trade and business-English instruction and take Internet-based TOEIC and trade academy courses.
  TI-members can also receive The Diploma of the Ministry of Commerce, Industry, and Energy. The TI's strongest asset is that its members work in perfect unity. No matter how much work may come to them, they never shift their work onto other members. They are more considerate of their own TI-members than of any other outside group. In terms of TI-members' unity, the YU-TI was the best among all TI-institutes for a period of 4 years from 2003. Also, in 2005 and 2006, the TI increased YU's reputation when it won first prize for excellence and received a recommendation in The 5th-Trade Marketing Contest.

The Trade Show Convention Institute.
 The institute was originally called the ETI but, in 2006, it became known as the TSC. It has used the same channels as the TI for becoming experienced in trade and business.
  The members of the TSC learn about trade from industry-professionals and professors in a 60-hour vacation program, and they receive The Certificate for Achievement of the Ministry of Labor. They study for the first-string Certificate of Trade-English and The Test of English for International Communication (TOEIC), for which their average score is usually around 700. TSC-sophomores learn most of their trade-work outside, while the juniors act as role advisors.
  When the TSC selects a company, it firstly considers the originality of the company's product.
  In 2006, the TSC, together with the TI, took part in The Japan Exposition. The TSC exhibited traditional Korean items, made five trust-contracts, and made sales of samples worth around 500,000 Won.

 

 Now we know something about these three enterprises: they all take an active part in relationships with external corporations; they all receive three units per a semester and financial support for English education; and they all provide students with experience of society, teamwork, and working systematically. Students from all colleges can apply for each institute. Selection is made on the basis of the passion of the applicant. So, YNO hopes that many more students will apply for the three enterprises and that they will have many good experiences, enhancing themselves and YU.