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Khon Kaen University joins forces with KBank to foster new generation of online entrepreneurs

          Khon Kaen University and KBank join forces to enhance university students' potential in online business, financial management and other management systems as a stepping stone for them to become business executives, accountants or entrepreneurs to serve labor market both at home and abroad. 
          Mr. Wirawat Panthawangkul, KBank Senior Executive Vice President, said that technological advancements and growing communications via online channels have made it easier to sell products and conduct various transactions on line. During the era in which everybody use mobile phones, e-commerce allows related entrepreneurs to make huge profit because they can sell products to anyone throughout the country without limitations concerning the venue and time. E-commerce in Thailand has reported high growth in recent years. In 2017, the value of e-commerce in Thailand reached approximately 2.8 trillion Baht, 812.613 billion Baht of which were transactions conducted directly between companies and consumers (B2C). In 2018, B2C transactions may grow 17 percent to 949.122 billion Baht. Online trading via social media accounted for the highest share of 40 percent while trading via e-Marketplace and trading via modern trade accounted for 35 percent and 25 percent, respectively. 
          KBank has collaborated with Khon Kaen University's Faculty of Business Administration and Accountancy to establish the KOS ON TOUR project, aimed at promoting the potential of e-commerce. This project will accept applications from 50 students of Khon Kaen University and 20 general public members having online trading experience via Facebook, Instagram and LINE@. The selected participants will be equipped with additional knowledge on e-commerce, financial management or system management. The application is open now until February 19, 2019. More information can be obtained from Facebook: K SME.
          Mr. Wirawat said that a study on problems of online traders shows that they tend to have similar problems, i.e., insufficient knowledge on business and cost management, accounting, marketing and content development. In addition, e-commerce has become a part-time job for students as evidenced by the fact that 90 percent of all fresh university graduates enter the workforce, whereas the rest 10 percent do not want to enter the workforce or take a full-time job. Given this, it is expected that new university graduates, who enter the workforce, plus those who do not want to have a full-time job will make e-commerce either their full-time or part-time job because it is easy to start the business without substantial capital requirement. With only merchandises, they can start the e-commerce business through a number of channels, including Facebook, Instagram and LINE@. 
          Mr. Wirawat added that under the KOS ON TOUR project, KBank intends to promote e-commerce knowledge in a concrete manner to online traders nationwide. Khon Kaen University is the first educational institution that KBank has chosen to begin the KOS ON TOUR project because it is well known at a national level and has many students interested in e-commerce. Participants in the project are largely students of Khon Kaen University and general public members interested in e-commerce. KBank hopes that they will be able to maximize the knowledge gained in their online businesses in the future.  
          Assoc. Prof. Pensri Jaroenwanit, Ph.D., Dean of Faculty of Business Administration and Accountancy, Khon Kaen University, said that in the 4.0 era, businesspeople have shifted to online channels which enable them to run their own business. In particular, students can use online platforms such as Facebook and LINE to kick off their college startup, or some can promote their merchandises on websites offering free advertising.
          Faculty of Business Administration and Accountancy, Khon Kaen University, signed an MOU with KBank to jointly organize various activities including seminars for university students and personnel as well as the general public, especially those who are interested in providing support and knowledge about online business, financial management or other management systems, starting this February. The first event will be "KOS ON TOUR" featuring a workshop for online teenagers seeking inspiration in doing online business and wishing to broaden their horizons in this field, wherein they will learn how to build a profitable business online. KOS ON TOUR will be organized in four occasions, i.e., February 28, 1:00 p.m. - 4:30 p.m., and followed by on Thursday of March 7, 21 and 28. Each session will involve interesting topics suitable for online traders, namely how to efficiently use social media, how to present cool captions and photos, what's hot in the market, how to create appealing contents to win customers' hearts and tips for sale closing. The workshop will be provided by Kru Tip – a digital guru from Digital Tips Academy. Application for this workshop will run from today to February 19, 2019.
          "As socioeconomic and technological competition in the 21st century leads to rapid evolution and inevitably affects every walk of life, people face a daunting challenge in adapting to changes in every aspect. Since Khon Kaen University has the mission to produce graduates to serve the labor market, we have to adjust ourselves to produce quality graduates, taking into account the globalization trends, to ensure that our graduates meet demands and expectations of the society and the labor market," she said. 
          Realizing the importance of such mission, in the academic year of 2017, Faculty of Business Administration and Accountancy established the Center of Excellence for career advancement to get students ready before graduation. Aimed at developing skills and knowledge required for the 21st century, the Center of Excellence has the mission to manage, support and promote the hands-on learning outside the classroom to enhance students' potential regarding hard skills and soft skills such as preparation of document for job application, innovative thinking, effective and professional communications and social etiquette. The faculty also lays down principles to educate students by categorizing courses into academic learning/occupational skills, life skills and skills relating to living in the 21st century.
          "To produce tangible results, we have sought a professional network to widen the students' perspectives and enhance their entrepreneurial skills. Hence, we have invited KBank, an expert in financial management and online business, to be our partner. KBank is recognized as a pioneer in adopting digital technology in financial transactions and encouraging startups to use e-commerce in their business or financial transactions. Faculty of Business Administration and Accountancy and KBank have formed an academic collaboration to promote, support and provide additional knowledge to students or aspiring startups on e-marketplace, financial management and other administrative systems. By strengthening capacity of students of Khon Kaen University, the collaboration serves as a stepping stone for them to become successful business managers and accountants or joining a new breed of entrepreneurs for the local and international labor markets," Dean of Faculty of Business Administration and Accountancy said.