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About the talk

Kicking off SPRIE's seminar series on the emerging environment for entrepreneurship in Japan, this presentation will focus on the changing pattern of venture capital (VC) investments there. Michael Korver will address issues related to venture capital, entrepreneurship and innovation in Japan in the context of the experiences of Global Venture Capital and its partners during the last twelve years.

Recently, Japan has seen a rapid evolution of financing for new firms, including rapid changes to its VC industry. Mr. Korver's firm is in the vanguard of that evolution. He will discuss aspects of Japanese VC companies from their earliest inception to the latest trends--from bank subsidiaries to independent funds--and he will share his observations about entrepreneurial startups in Japan.

About the speaker

Michael Korver is a co-founding partner of Global Venture Capital (GVC). He was born and raised in Tokyo and first developed his insider's perspective on Asian business from his experience as an analyst at the Nomura Research Institute in Tokyo from 1983 until 1986, and as an international transactions lawyer with Richards & O'Neil in New York and Tokyo from 1987 until 1993.

Since 1993 Korver has worked as an international business consultant, corporate lawyer, venture capitalist and entrepreneur in Tokyo. He has founded or co-founded several companies and has served on the boards of a number of them. From 1999 until 2002 he was in charge of legal and business affairs at The News Corporation Limited Japan, the Japanese operations of the international media conglomerate. Korver currently serves as professor in the MBA program at the Graduate School of International Corporate Strategy of Hitotsubashi University where he teaches courses in entrepreneurship and venture capital.

Korver received the BA, the MA in Economics and the JD all from the University of California at Berkeley. He is licensed to practice law in the States of New York and California.

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Michael Korver Managing Partner Speaker Global Venture Capital
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It is often said that domestic politics in Japan revolves around public spending, yet one of the state's most powerful instruments for financing policy has virtually escaped notice: the Fiscal Investment Loan Program (FILP). In contrast to a budget, FILP mobilizes savings for state-directed lending and investment, providing the Japanese state with a mechanism to ‘spend' without taxation. After introducing FILP, this presentation will explain how the government used the program to manage its larger fiscal policy and the consequences of this choice.

Gene Park is a Shorenstein Postdoctoral Fellow at Shorenstein APARC for 2007-2008. Park is currently working on a book that analyzes how a large government system for mobilizing and allocating financial capital, the Fiscal Investment Loan Program, has influenced budget politics and the internal coalitional dynamics within the ruling Liberal Democratic Party (LDP).

His work has appeared in the journals Governance and Asian Survey, and he co-authored an article for the edited volume, The State after Statism (Harvard University Press). Dr. Park received a Fulbright scholarship to study in Japan. He has been a visiting scholar at the Japanese Ministry of Finance's Policy Research Institute and Sophia University in Tokyo.

Dr. Park completed his PhD in 2007 in political science at University of California, Berkeley. He also holds a masters degree in city and regional planning from Berkeley, and a BA in philosophy from Swarthmore College.

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Shorenstein APARC
Stanford University
Encina Hall E301
Stanford, CA 94305-6055

(650) 724-9747 (650) 723-6530
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Shorenstein Fellow
ParkWeb1.jpg PhD

Gene Park is a Shorenstein Postdoctoral Fellow at Shorenstein APARC for 2007-2008. Park is currently working on a book that analyzes how a large government system for mobilizing and allocating financial capital, the Fiscal Investment Loan Program, has influenced budget politics and the internal coalitional dynamics within the ruling Liberal Democratic Party (LDP).

His work has appeared in the journals Governance and Asian Survey, and he co-authored an article for the edited volume, The State after Statism (Harvard University Press). Dr. Park received a Fulbright scholarship to study in Japan. He has been a visiting scholar at the Japanese Ministry of Finance's Policy Research Institute and Sophia University in Tokyo.

Dr. Park completed his Ph.D. in 2007 in political science at University of California, Berkeley. He also holds a Masters in City and Regional Planning from Berkeley, and a B.A. in Philosophy from Swarthmore College.

Gene Park 2007-2008 Shorenstein Fellow Speaker Shorenstein APARC
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This talk will examine the evolution of Japanese attitudes and policy toward the Korean peninsula.

The legacy of Japan's occupation; divisions in Japan's Korean community and the spillover into Japanese domestic politics; the impact of the abduction issue and the North Korean nuclear and missile programs on Japanese attitudes toward Pyongyang will be looked at. The current state of relations, with a focus on the divisions between Tokyo and Washington on how to proceed, will also be discussed.

Ambassador Deming joined the School of Advanced International Studies at Johns Hopkins Universtiy in September 2005, after a 38 year career in the Foreign Service. His last overseas post was as Ambassador to Tunisia from 2000 to 2003. Prior to that, he served as Principal Deputy Assistant Secretary of State for East Asian and Pacific Affairs (June 1998 to August 2000). He was Senior Advisor to the Assistant Secretary for East Asian and Pacific Affairs from December 1997. From October 1997 to December 1997, he was the East Asian and Pacific Affairs Bureau’s Senior Advisor to the United Nations General Assembly in New York.

Ambassador Deming has spent much of his career dealing with Japanese affairs, having served in Japan as Charge d’Affaires, ad interim, from December 1996 to September 1997, and as Deputy Chief of Mission from October 1993 to December 1996. From September 1991 to August 1993, Amb. Deming was Director of the Office of Japanese Affairs in Washington. He served as Minister Counselor for Political Affairs at the American Embassy in Tokyo from August 1987 to July 1991. From 1985 to 1986, Amb. Deming was detailed to the National War College at Fort McNair in Washington, DC.

He received his M.A. in East Asian Studies from Stanford University and B.A. from Rollins College.

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Ambassador Rust Deming Adjunct Professor, Japan Studies, SAIS, Johns Hopkins University Speaker
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In the midst of leadership changes and rethinking of the Six-Party Talks, the time is ripe for reassessing how multilateralism can be advanced in Northeast Asia. The earlier stress on economic integration as the engine of regionalism has lost credibility, although the forces of interdependence continue to grow. The tendency to treat security in isolation also may be receding, as the Six-Party Talks and Sino-U.S. relations both reveal the multi-sided nature of building trust. At the same time, the pessimism associated with overemphasis on the history issue between Japan and its neighbors has receded in the face of renewed Sino-Japanese and South Korean-Japanese diplomacy. Yet, finding common ground in strategic thinking about the future of multilateralism demands a new approach that takes into account lessons from recent years.

As the building blocks of a new approach, this presentation will focus on four themes: 1) re-examination of ways to accelerate regionalism, with attention to leadership, energy cooperation, and the role of Russia; 2) development of a more comprehensive outlook on values, with attention to shared modernity, gradualism, and the role of Japan; 3) discussion of the next phase in managing North Korea, attentive to Sino-U.S. accord and the role of South Korea; and 4) evaluation of U.S. priorities and how a new president may view Northeast Asia within an overall agenda.   The objective of this talk will be to stimulate thinking on a region at a crossroads in order to capitalize on recent currents of change.

Gil Rozman attended Princeton's Critical Languages Program, returning to Carleton College as an independent major in Chinese and Russian studies. He received his PhD in sociology at Princeton with a field on Chinese, Japanese, and Russian societies and a plan to concentrate on historical comparisons first and on the domestic roots of international relations later. His books have appeared in clusters, including: four on comparative pre-modern urban development and stages of modernization; three on debates in the Soviet Union, China, and Japan over bilateral relations and changes in socialism; two on regionalism; and four on strategic thinking in Northeast Asia. Although he is still learning about Korea, many recent writings have looked at Korea within a regional context.

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Gil Rozman Professor of Sociology Speaker Princeton University
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%people1%, associate director for research at Shorenstein APARC, gives a few cautionary lessons on U.S.-Korea relations.
Earlier this month I visited Seoul as a member of “New Beginnings,” a study group of former American policymakers and experts on Korea, co-organized by the Shorenstein Asia-Pacific Research Center at Stanford, and The Korea Society. We formed this group last year, anticipating that the upcoming Korean elections and the American presidential elections afterwards would offer an opportunity to embark upon a “new beginning” in our alliance.

After several days of meetings in Seoul, most importantly with President-elect Lee Myeong-bak and his senior advisors, we came away convinced that our hopes for a “new beginning” were more than justified. As President Lee takes office, it is clear that his administration is deeply committed to restoring the alliance to its previous place as the foundation of Korean foreign and security policy. Equally important, the new government is focused on the need to boost economic growth based on the free flow of trade and investment, and sees the conclusion of the Free Trade Agreement with the United States as central to that goal.

For those of us who have long argued that a vibrant Korea is vital to America’s interests, these were welcome words. It is no secret that there was a perception in the United States that President Roh Moo-hyun, backed by a significant portion of the Korean people, no longer saw the alliance as a strategic imperative for Korea. Unfortunately, many Americans, particularly in Congress, had begun to share this view of the alliance, fueled by a mistaken belief that Koreans were “anti-American.”

This view of President Roh and of Korea was unfair and even distorted. President Roh deserves credit, particularly in the last two years, for taking important steps to improve alliance relations, not least his promotion of the negotiation of the FTA. He made unpopular decisions, such as the dispatch of troops to Iraq, in order to preserve a cooperative atmosphere. And as we saw demonstrated in the election, public opinion in Korea regarding the United States has shifted dramatically since the emotional days of 2002.

The Lee administration can anticipate a warm greeting in Washington, as is already clear in the preparations for his visit next month. The new President has sounded all the right notes – seeking closer cooperation on North Korea policy, restoring positive ties with Japan, America’s other vital ally in Northeast Asia, and building a broader strategic partnership with the U.S. beyond the Korean peninsula.

Amidst the renewed embrace of the alliance, it is worth however keeping a few cautionary lessons from the past in mind:

1. Not everything will be Smooth Sailing

Despite the welcome official rhetoric, it is no secret that the relationship between the United States and the Republic of Korea has never been entirely smooth. From its earliest days, born out of Korea’s liberation and the trials of the Korean War, the alliance has been marked by both close cooperation and by clashes over key policy goals. While bound together by strategic necessity, the national interests of Korea and the United States have not always been identical.

There is nothing unusual about such differences among allies. Look for example at the tensions that plagued U.S.-European relations over the disastrous decision to invade Iraq. Even with the best of intentions, there will be moments of conflict between Seoul and Washington. What is important is how governments manage those differences to protect the underlying relationship. Both Koreans and Americans need to remember the virtues of quiet diplomacy, trying to avoid negotiating their differences through the media.

2. All politics is local

Alliance relations can no longer be managed solely by diplomats or by friends meeting behind closed doors. Those ties are crucial but both Korea and the United States are democracies in which the issues that are at the core of the relationship – from trade to the alignment of military forces – are matters of public discussion. Domestic politics shapes policy decisions but both Koreans and Americans sometimes forget the pressures operating on the other side.

This is particularly important in an election year. The Korean National Assembly election in April is already having an impact, delaying ratification of the FTA. The U.S. election will mean FTA ratification by the U.S. Congress this year may be impossible. Presidential candidates are taking positions that they may adjust after gaining power. On another level, the new government in Seoul needs to remember that the Bush administration is a lame duck affair and begin to prepare for a new government in Washington.

3. Expect the Unexpected, particularly with North Korea

The limited progress on the nuclear negotiations with North Korea has temporarily brought closer coordination between Korea and the US. But it would be foolish to assume that this trend will necessarily continue. The negotiations are already facing a slowdown as negotiators grapple with much tougher problems. If they break down, both Seoul and Washington, along with their other partners in the 6-party talks, will face some hard questions about how to respond. Any attempt to pressure Pyongyang is likely to bring an escalatory response, not least to test the new government in Seoul.

It is possible that Seoul and Washington will once again be somewhat out of synch. Ironically, the Bush administration – and whatever follows it -- may favor greater concessions than the new administration in Seoul would prefer to make.

These differences are manageable. The key is real policy coordination between the US and Korea – and the inclusion of Japan in a revived trilateral coordination mechanism. If both sides keep that commitment, we will indeed have made a “new beginning” in our alliance.

Daniel Sneider is the Associate Director for Research at Stanford University’s Walter H. Shorenstein Asia-Pacific Research Center. A former foreign correspondent, Sneider covered Korea for the Christian Science Monitor.
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Shorenstein APARC
Stanford University
Encina Hall E301
Stanford, CA 94305-6055

(650) 726-0685 (650) 723-6530
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Visiting Scholar, 2009-12
CvL_APARC_Photo_-_Oct_2010_2.jpg MA, PhD

Christian von Luebke is a political economist with particular interest in democracy, governance, and development in Southeast Asia. He is currently working on a research project that gauges institutional and structural effects on political agency in post-Suharto Indonesia and the post-Marcos Philippines. During his German Research Foundation fellowship at Stanford he seeks to finalize a book manuscript on Indonesian governance and democracy and teach a course on contemporary Southeast Asian politics.

Before coming to Stanford, Dr. von Luebke was a research fellow at the Center of Global Political Economy at Waseda (Tokyo), the Institute for Developing Economies (Chiba), and the Center for Strategic and International Studies (Jakarta). He received a JSPS postdoctoral scholarship from the Japan Science Council and a PhD scholarship from the Australian National University.

Between 2001 and 2006, he worked as technical advisor in various parts of rural Indonesia - for both GTZ and the World Bank. In 2007, he joined an international research team at the Institute of Development Studies (IDS) analyzing the effects of public-private action on investment and growth.

Dr. von Luebke completed his Ph.D. in 2008 in Political Science at the Crawford School of Economics and Government, the Australian National University. He also holds a Masters in Economics and a B.A. in Business and Political Science from Muenster University.

His research on contemporary Indonesian politics, democratic governance, rural investment, and leadership has been published in the Bulletin of Indonesian Economic Studies, Contemporary Southeast Asian Affairs, Asian Economic Journal, and ISEAS. He regularly contributes political analyses on Southeast Asia to Oxford Analytica.

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In April China's President Hu Jintao will visit Japan, only the second ever visit by a Chinese head of state to Japan. Both parties are enthusiastic about recovering from nearly a decade of tension since President Jiang Zemin's disastrous 1998 visit. Tokyo and Beijing appear ready to place priority on areas of common interest, such as resolving the North Korean nuclear problem, responding the challenge of climate change, coping with economic turmoil, and maintaining peace and stability in the Asia Pacific region. They strive to minimize differences over history and address competition for natural gas that inflames territorial disputes in the East China Sea. Yet other irritants remain, which can flare up to reveal deeper conflicts in national interest and an enduring rivalry for regional preeminence. While optimistic, both sides recall the dashed hopes of the Partnership of Friendship and Cooperation for Peace and Development, prepared before Jiang's visit, and are proceeding with "cautious friendliness."

Prior to joining the Henry L. Stimson Center in 1998, Benjamin Self conducted extensive fieldwork in Japan. He spent two years as a visiting research fellow at Keio University in Tokyo on a Fulbright Graduate Research Fellowship. He has lectured at Temple University Japan and interned at the Research Institute for Peace and Security in Japan. Mr. Self has served as a program associate in the Asia Program of the Woodrow Wilson International Center for Scholars. Mr. Self attended Johns Hopkins University, where he earned his MA, and holds a BA from Stanford University.

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Benjamin Self Senior Associate Speaker The Henry L. Stimson Center
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Professor Mito will offer a critical analysis of the constitutional revision debate in contemporary Japan and its implications for Japan's foreign relations. He argues that the justification for constitutional revision is based on political myth rather than historical reality. It is strongly felt that a militarized Japan will not enhance its independence or its international prestige. Some fear that a new Japan will end up as part of the American defense mechanism supporting US hegemony and its global strategy. Mito argues that any constitutional revision and the resultant remilitarization can affect the balance of power in the international system beyond its national borders. His major objective is to critically assess the argument for constitutional revision and the implications of the current revision debate.

Takamichi Tam Mito is professor of International Political Economy in the Department of Japanese Studies at the Chinese University of Hong Kong. A graduate of International Christian University (B.A.), he studied also at the Universities of Keele, Toronto, London, and Tsukuba (M.I.A. & Ph.D. in Law). Prior to his current appointment, he taught at the Universities of Cambridge, London, and Toronto and at Monash and Kyushu Universities. At Kyushu he was Foundation Professor of International Japanese Studies and Study Abroad Program. He also worked as a manager in the Department of Financial Engineering at Citicorp Investment Bank Ltd in London.

His major publications include: State Power and Multinational Oil Corporations: a Study of Market Intervention in Canada and Japan (Fukuoka: Kyushu University Press, 2001); The Political Economy of the Oil Market: A Comparative Study of Japan and Canada (Fukuoka: Kyushu University Press, in Japanese 2006); Sengo Nihon Seiji to Heiwa Gaiko (Postwar Japanese Politics and Peace Diplomacy) (Kyoto: Horitsubunkasha, 2007). His 2001 publication received an award by Japan Society for the Promotion of Science. Currently, he is completing six books on Japanese studies in the Asia-Pacific Region as a co-editor and contributor (forthcoming in 2008 and 2009) and also a book length study of the impact of government policy on the industrial growth, structure, and performance of the oil industry in modern Japan as a single author. He is the recipient of many research grants from various prestigious bodies including the governments of Australia, Canada, Hong Kong and Japan.

He has served for many professional and governmental bodies including Japan Agency for International Cooperation as a visiting professor of Japanese studies, Public Policy Studies Association in Japan, as the founding director; and the Japan Association of International Students' Education, as a founding vice president.

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Takamichi Tam Mito Professor, International Political Economy, Department of Japanese Studies Speaker Chinese University of Hong Kong
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