Financial service sector Korea Venture Investment Corporation (KVIC) is the venture capital arm of the Korean government with a founding mission to build a domestic startup ecosystem that would be as competitive as Silicon Valley. KVIC manages a basket of funds-of-funds and has become an irreplaceable force in the venture capital market after nearly two decades of operations. As Korea's startup ecosystem matures and private venture capital increases, KVIC's management confronts the question of how to create new values using government resources.

In 2023, the Singapore-based startup company Horizon Quantum Computing was on the cusp of fast expansion and the founder faced the challenge to decide where to open the second office outside Singapore. To make a choice from the list of 10 countries, the founder had to consider the likelihoods of acquiring and competing for talent, developing business partnerships with quantum computer hardware makers, gaining market access for its upcoming product, among other issues. This case study also explores Singapore's startup ecosystem and its years long efforts in building a growth environment for deep tech companies.

The leadership team at QNB Alahli, Egypt's second biggest private bank, looked back on their efforts to create a brand-new, fully digital banking platform since 2019. A digital-only banking service was unprecedented in Egypt, a country where over 90% of financial transactions still involved cash. If successful, QNB Alahli would enjoy the first-mover advantage and help improve the level of financial inclusion in the Egyptian society. The bank had developed comprehensive financial projections for the new platform, and its confidence was bolstered by the successful launch of a similar platform by its sister bank in Turkey. Before the proposal could be approved by the central bank, QNB Alahli needed to carefully consider various strategies for this venture, as the decisions made could significantly impact the bank's profitability, marketing efforts, and internal competition.

Velong is a supplier of kitchen equipment and backyard grills for major global brands and store brands of large western retailers. In light of the COVID-related disruptions to the global supply chains, and the evolving trade tensions between China and the Western countries, Velong's global customers were pressuring the company to move 30% of its manufacturing from China to other locations. Velong was considering a number of countries to shift its manufacturing-India, Vietnam, Turkey and Mexico. At present, none of these countries seem to be able to match the cost structure and manufacturing quality that the company is able to achieve in China. Velongs co-founders, Jacob Rothman and Iven Chen, need to decide soon how to formulate a strategy to deal with the challenge.

This note explores the emerging multi-billion dollars commerce trend of livestream commerce. Livestream commerce is the sale of goods or services directly to consumers via live shows on digital platforms (such as social media or e-commerce platforms). It is a form of social commerce in which consumers engage with real-time videos to complete transactions. Livestream commerce was especially popular in China, where gross merchandise value through this channel reached $316 billion USD. In the rest of the world, livestream commerce had mixed success, and has not gained traction in Europe and North America. The note explores the 3 top livestream commerce in China - Taobao Live, Douyin, and Kuaishou, to learn about the phenomenon and explore the success of livestream commerce in the future. In particular, the note allows for discussion of the following questions: How should a platform develop a sustainable business model in livestream commerce? What would it take for any of these platforms to come out on top of the competition? Are social media or e-commerce platforms better positioned to win in this market? Was the boom in China's livestream commerce replicable in other countries? Why hasn't livestream commerce gained traction in Europe and North America? Was it just a matter of time, or are there inherent factors that impede on the success of this shopping format?

This case describes the entrepreneurial journey of David Yeung, from campaigning for plant-based diets to building Green Monday, a purpose-driven business and an ecosystem based in Hong Kong comprising a retail platform, an alternative meat brand ("OmniPork"), a non-profit foundation, and an impact investment arm. Green Monday had been reshaping the traditional concept of plant-based food into a modern and aspirational lifestyle by providing more food options to the growing number of flexitarian consumers in Hong Kong and beyond. But in fall 2021, challenges were emerging that could slow its rapid growth. Externally, the breakdown of the global supply chain caused by the Covid-19 pandemic was affecting the company's expansion into new markets, such as mainland China, the U.S., and Southeast Asia. Internally, the strategy of operating multiple business models was testing the startup's ability to find a balance between growing the business without diluting its strong mission and purpose. Given these constraints, Yeung had some important decisions to make regarding Green Monday's growth plans. Should he continue the multi-business strategy or should he be more focused?

This case describes the movement towards dual-class listings on Asian stock exchanges and the efforts of the Asian Corporate Governance Association (ACGA), a not-for-profit shareholder advocacy group, to discourage this trend. As a not-for-profit organization with no formal regulatory or incentive setting powers, ACGA had been successful in helping to elevate the governance standards in Asian capital markets through its advocacy work, educational efforts, and its biennial publication ("CG Watch") that rated Asian countries' corporate governance quality. With the 2018 decisions by Hong Kong and Singapore to allow for dual-class share listings, which ACGA and its members have previously strongly opposed, ACGA worried about how it could prevent corporate governance standards in the region from deteriorating. Was this a "race to the bottom" by Asian stock exchanges due to their desire to attract listings, or were the proposed safeguards effective in balancing shareholder rights against protecting managers from market pressures? What additional levers of influence should the organization pursue to ensure that shareholder rights were protected or to make corporate governance less of a compliance exercise but more of a value-add in the eyes of corporate managers in Asia?

July 2017 was supposed to be a triumphant month for HNA Group. The latest Fortune Global 500 list showed the company had again skyrocketed in its ranking to no. 170, an improvement of over 200 positions from the year prior. Yet earlier that same July, the mysterious death of Co-Chairman Wang Jian portended a darker outlook. Over the next three years, HNA would fall as fast as it has risen. A liquidity crunch forced HNA to sell many of the assets it had purchased. The Chinese government, once a core supporter, also lost patience with HNA, fearing that the sprawling and deeply indebted conglomerate could threaten China's financial system. Chairman Chen Feng forged ahead with attempts to deleverage, but the COVID-19 crisis, which decimated HNA's core travel business, proved to be the last straw. A task force of officials, reported in the media as a "takeover" by China's Hainan provincial government, entered HNA to assess the situation. By 2021, it was clear that HNA Group would not just be humbled, it would also be broken up. Hundreds of HNA affiliates were to enter bankruptcy, the umbrella group would be restructured, and Chen Feng was legally barred from the luxuries leading HNA had afforded him. How could HNA, with its flight routes and reputation for good service, recover as an airline? Or were its founders' sky-high ambitions to see an Icarus-like end?

Tencent, one of the largest Internet conglomerates in China, had a vision to become a "Tech+Culture" firm. With dominant market shares in online games and social networking, it had built a vast Internet-based entertainment ecosystem, and was now focused on cultural asset development. Specifically, the company had an opportunity to develop a media franchise that was rich in Chinese cultural elements and had the potential to turn into a blockbuster franchise comparable with Disney's Marvel Cinematic Universe. Edward Cheng, the company's vice president, had to decide how to launch the franchise-whether it should start with a game, movie, a streamed series, or something more innovative. He also had to consider how to promote Chinese culture and project the country's image to a foreign audience.

The Lee family, whose Hong Kong-based Lee Kum Kee company has established itself as a legend within the Chinese and Asian sauce world, sets out to create a daring new vision of what family legacy means. With the family business having been established in 1888, and by 2020 showing no signs of slowing down, the members of the third, fourth, and fifth generations sit down to hash out exactly what it means to be in the family. To this end, they realize that what they need is not a simple one- or two-step succession plan, but a 1,000 Year Plan to guide family governance and values over the next millennium. This grand idea, replete with lofty goals, comes with all types of questions as each generation of the family brings their own perspective. What should those goals be? How can one generation possibly expect to anticipate the needs of the next? Is it right to predetermine the outcomes of a family so far in advance? As the Lee family addresses these questions, they shed light on the more familiar questions about legacy, values, and preparing for the future. Do these same questions not apply even in the case of one generation planning for the next? If a family believes in its ability to hold fast against the chaos of the world, why not plan for the entire future? Each member of the Lee family meets these ideas with their own mix of practical and idealistic solutions, and their landmark document generates a battery of criteria against which other families may compare their own ideas of legacy.

The founder of Gogoro had always wanted to revolutionize the energy market from day one since he started the electric scooter business that featured an innovative battery swapping technology. Over the course of five years, he had developed a premium line of electric scooters, gained market share to about 90 percent, and turned his startup into a "unicorn" with a valuation reaching $1 billion. With its battery swapping infrastructure built out across the island of Taiwan, Gogoro sensed the opportunity to become something bigger - most probably a smart energy platform that could complement the main grid. But as a sudden change in government subsidies and the outbreak of the coronavirus pandemic took a toll on the scooter sales, how should Gogoro position itself going forward?

By 2020, Ren Zhengfei, CEO of Huawei, had transformed the small telephone switch manufacturer he founded in 1987 into a $120 billion telecommunications company poised to lead the lucrative rollout of fifth-generation (5G) cellular networks. However, an emerging U.S.-China tech war has jeopardized Huawei's prospects. The Trump administration is waging a global campaign to blacklist doing business with Huawei due to concerns in Washington about the company's relationship with the Chinese government and the security of its products. As Huawei attempts to answer the litany of questions being asked about its business, the company's corporate communications and government relations strategies are thrust onto center stage. How can a company so successful technologically-it is a global leader in 5G technology-struggle so mightily in telling its story? What would it take for Huawei to repair its relationship with Washington? Can Huawei protect itself from the crossfire of a growing digital cold war between the U.S. and China?

After the legendary founder of Taiwan Semiconductor Manufacturing Company (TSMC) retired, the new chairman had to grapple with fresh challenges related to its China market. A recently opened factory in China had to find ways to reverse its financial loss and meet its full capacity; one of its major Chinese customers was facing sanctions by the U.S. government; China was investing billions of dollars in building its own powerhouse to compete in semiconductor production. The transition from 4G to 5G technology in the telecommunication industry, and the U.S.-China trade war also added to the uncertainties facing TSMC. What had changed in the competitive landscape for TSMC, and how should it respond to the changes? What were the options for the company in doing business with China, when the country had become both a customer and a competitor?

China Merchants Bank, the sixth-largest lender in China, intends to boost its family office business as a result of an increase in the population of ultra-high net worth individuals. Already ranked China's number-one private bank with AUM exceeding US$300 billion, the Bank is exploring different ways to cater to the demand from newly minted billionaires and their families, and to maintain its competitiveness in retaining these customers amid fierce competition with domestic and foreign banks. Management also needs to brace for an emerging trend in which super-affluent families opt to reduce their reliance on traditional bankers by setting up independent family offices. The case raises issues in segmentation of private banking, change in organization design, and devising strategies for target customers and value creation.