4th Annual Convocation speech 2016 Final

Convocation Speech – Dr Un-Chan Chung

Director’s Annual Report 2016 final

IMI-Kolkata Convocation 2016

Saturday 16th July, 2016 saw eminent NBA accredited B-School IMI-Kolkata celebrate its 4th Annual Convocation Ceremony for their PGDM batch of 2014-2016. The grand event that saw luminaries from across the industry and the academic world was presided over by Mr. Anirudhha Basu, Managing Director, CESC Member IMI Board of Governors.

Dressed in academic regalia, the faculty of IMI-Kolkata and its Board of Governors, accompanied by the Batch of 2014-16 marched towards the Auditorium, with the sound of triumphant music at the backdrop, marking the commencement of the Convocation ceremony.

After the welcome address by Mr. Anirudhha Basu and the Director General Dr. Bakul Dholakia, The Director of IMI-Kolkata presented the Annual Report for the institute highlighting its remarkable growth story.

IMI-Kolkata also had the great honor and privilege of hosting Dr. Un-Chan Chung, Chairman, Korea Institute for Shared Growth, Former Prime Minister, Republic of Korea, Former President, Seoul National University as the Chief Guest for the grand event. In his Convocation address he drew inspiration from his own personal experiences to inspire the gathering to aspire for glory and greatness. Born to a humble home, Dr. Chan’s success story is synonymous with South Korea’s meteoric rise from the ashes post the Korean War of 1953, i.e., ‘The Miracle on the river Han’. Haunted by the ghosts of colonialism and ravaged by war, South Korea saw its economy in the doldrums. Over 40% of the nation’s population suffered from absolute poverty in the 60s. However this is not the situation anymore. Korea’s GDP recorded 11th in 2015, with 1.38 trillion USD. Korea today is the first and only nation to transit from a foreign aid recipient nation to a donor nation in the world history.

As he addressed the gathering, Dr. Chan went on to describe the several factors that were responsible for this ‘Korean Miracle’. The dearth of natural resources and accumulated capital allowed South Korea to shift its focus on education and investment in human capital to drive economic growth. This was also visible in his personal life as Dr. Chan spoke of the role his mentors especially his mother played in helping him pursue his education despite difficult circumstances. The Second important factor that was instrumental in South Korea’s rise was the resilience, spirit and grit displayed by the citizens of Korea to climb out of poverty and build the foundation for a market-driven society. These are the values that helped South Korea regain its status as ‘lamp of the East’ in the words of Tagore and they are integral to every aspiring entrepreneur.

Dr. Chan inspired the graduating students to adopt the same principles in their own lives as they prepare to make their mark in the world. He concluded his address by reminding them of the multitudes who are still suffering from poverty, inequality and injustice and challenged them to address these inequities and do their bit to make the world a better place. The ceremony was highlighted with the receiving of the degrees and special prizes by the graduating students.