PARK, SOJUNG

Professor of Insurance, Risk Management


Professor Introduction

Sojung C. Park is an Associate Professor at the College of Business Administration, Seoul National University. She received her BA and MS degree in Industrial Engineering from Seoul National University and Ph.D. in Risk Management and Insurance from the Wharton School, University of Pennsylvania in 2009. Before joining Seoul National University, she worked at California State University, Fullerton. She published academic papers in Journal of Risk and Insurance, ASTIN Bulletin, the Geneva Papers on Risk and Insurance - Issues and Practice, the Asia-Pacific Journal of Risk and Insurance. Her current research interests focus on the areas of cultural effect on insurance demand, risk management in insurance industry, securitized bonds, insurance company rating and market discipline, and insurance economics.

경력사항

[Education]
2004-2009 The Wharton School, University of Pennsylvania, Philadelphia, PA
Ph.D. in Insurance and Risk Management
2002-2004 Seoul National University, Seoul, Korea
Master of Science in Industrial Engineering, Minor in Financial Engineering
1998-2002 Seoul National University, Seoul, Korea
Bachelor of Science in Industrial Engineering, Summa Cum Laude

[Academic Appointments]
September 2014 - present: Associate Professor, Seoul National University
August 2012 - August 2014: Assistant Professor, Seoul National University
August 2009 - July 2012: Assistant Professor, California State University, Fullerton

학술활동

[Publications]

[1] Park, Sojung*, Jean Lemaire, and Choong Tze Chua (2010), “Is the Design of Bonus-Malus Systems Influenced by Insurance Maturity or National Culture?”, The Geneva Papers on Risk and Insurance - Issues and Practice 35, S7-S27: Leading paper
[2] Park, Sojung* and Jean Lemaire (2011) “Culture matters: Long-Term Orientation and Life Insurance Demand” Asian Pacific Journal of Risk and Insurance 5, Issue 2, Article 1: Leading paper
[3] Park, Sojung* and Jean Lemaire (2012) "The Impact of Culture on the Demand for Non-Life Insurance", ASTIN Bulletin (The Journal of the International Actuarial Association) 42, issue 2, p. 501-527
[4] Park, Sojung* and Tokutsune Yasuyuki (2013), “Do Japanese Policyholders Care About Insurers’ Credit Quality?”, The Geneva Papers on Risk and Insurance - Issues and Practice 38, p. 1-21: Leading paper
[5] Moon, Jungbien* and Sojung Park (2014), “Measuring the costs and benefits of CSR through shareholder value”, Journal of Knowledge Studies 12, issue 1 p266-294
[6] Park, Sojung* and Xiaoying Xie (2014), “Reinsurance and Systemic Risk: Reaction of Property-Casualty Insurers to Reinsurer Downgrading”, Journal of Risk and Insurance 81, issue 3: 581-621
[7] Lemaire, Jean*, Sojung Park, and Kili Wang(2015), “The Impact of Covariates on a Bonus-Malus System: An Application of Taylor’s Model”, European Actuarial Journal 5, issue 1: p 1-10: Leading paper
[8] Nayoung Park and Sojung Park* (2015), Non-life insurance securitization and its value addition to Korean capital market, the Journal of Risk Management 26(2): 63-114 (in Korean, 리스크관리연구)
[9]HongJoo Jung, Chunhua Chen*, Sojung Park, Vincenzo Senatore (2015), Commuting Accidents in Workers Compensation in Italy and in China - Policy Implications for Korea - , 사회보장연구 (in Korean)
[10] Park, Sojung*, Jean Lemaire, and Kili Wang (2016), The use of annual mileage as a rating variable, ASTIN Bulletin
[11] ] Lemaire, Jean*, Sojung Park, and Kili Wang(2016), “Further comments on the paper “Setting a bonusR11;malus scale in the presence of other rating factors” by Taylor”, European Actuarial Journal , forthcoming
[12] Park, Sojung*, Xiaoying Xie, and Jean Lemaire(2016) The Opaqueness of Structured Bonds in Insurers’ Assets (with Xiaoying Xie), The Geneva Papers on Risk and Insurance - Issues and Practice, forthcoming
[13] Kim, Bum* and Sojung Park (2016), "Are Insurance Mergers and Acquisitions Value-increasing Activities? : Evidence from ASEAN Countries", 리스크관리연구
[14] Kim, Bum* and Sojung Park (2016), "Mergers and Acquisitions in the U.S. Insurance Industry", 재무연구
[15] Eliot Oblander, Sojung C. Park, and Jean Lemaire (2016), The cost of high suicide rates in Japan and South Korea, Asia-Pacific Population Journal 31(2)
[16] Park, Sojung C.* and Sangeun Han (2017), "Externalities from Driving Luxury Cars", Risk Management and Insurance Review, forthcoming
[17] Park, Sojung C.*, Xiaoying Xie, Pinghai Rui (2018), "The Sensitivity of Reinsurance Demand to Counterparty Risks: Evidence from US Property-Liability Insurance Industry“, Journal of Risk and Insurance, forthcoming
[18] Jeong, Himchan, Emiliano Valdez*, Sojung C. Park, Jaeyun Ahn (2018), "Generalized linear mixed models for dependent compound risk models", Variance, forthcoming
[19] Jae Youn Ahn*, Woojoo Lee, Sojung C. Park (2018), "Investigating Dependence between Frequency and Severity via Simple Generalized Linear Models", Journal of the Korean Statistical Society, forthcoming
[20] 박소정, 계리적 형평성을 위한 실손보험 할인할증 제도 도입에 대한 논의 (Discussion on the introduction of bonus-malus system in private health insurance for the actuarial equity), 공정거래연구 (Review of Fair Economy), forthcoming [in Korean]

*: corresponding author


[Conference Presentations]

2008: FMA (Financial Management Association) annual conference, California State University, Fullerton
2009: ARIA (American Risk and Insurance Association) annual conference, FMA annual conference
2010: FMA annual conference, NBER (National Bureau of Economic Research) Catastrophic risk and insurance group meeting, WRIEC (World Risk and Insurance Economics Congress) conference (2x)
2011: Insurance Seminar at Temple University, Risk Theory Society annual meeting, ARIA annual conference, Convergence, Interconnectedness, and Crisis: Insurance and Banking Conference
2012: ASSA/ARIA annual conference, APRIA (Asian Pacific Risk and Insurance Association) annual conference (3x), ARIA annual conference, Luncheon seminar at Seoul National University, Korea Management Engineers Society annual conference, Finance Seminar at KAIST, Financial Economics Research Center seminar at Seoul National University
2013: WRIA (Western Risk and Insurance Association) annual conference(Las Vegas, US), APRIA annual conference
2014: Korean Insurance Association bi-annual meeting (Winter and Summer), Korean Risk Management Association bi-annual meeting, Risk forum seminar at Korean Insurance Research Institution (KIRI), Korean Financial Engineering Society Annual Meeting(Busan, Korea), Financial Engineering and Banking Society Annual meeting (Surrey, UK)
2015: Korea Risk Management Society bi-annual conference(Seoul, Korea), Insurance Risk and Finance Research Centre (IRFRC) annual conference (Singapore), WRIEC (World Risk and Insurance Economics Congress) conference (3x), Statistics department seminar at Ehwa Woman’s University(Seoul, Korea), Finance department seminar at Korea University (Seoul, Korea)
2016: Western Risk and Insurance Association(WRIA) annual conference (Maui, US), East Asia Risk Management and Insurance Conference (Taichung, Taiwan), UNIST finance seminar (Ulsan, Korea), Insurance Risk and Finance Research Centre (IRFRC) annual conference (Singapore)



[Other Invited Talks]

Samsung Scholarship 2010 Academic Camp Alumni Talk, Yosemite, CA, August 2010
Earthquake and Insurance, Jim Gutmann Speaker Series, MCBE, Cal State, Fullerton, March, 2011
Catastrophic Risk and Insurance, Global Catastrophe Risk Forum, MCBE, Cal State, Fullerton, May, 2011
Luncheon Seminar at College of Business Administration, Seoul National University, September 2012
Main discussant at the Korean Auto insurance Bonus-Malus System(BMS) Reform Policy Reform debate co-hosted by Korean Insurance Development Institution, Financial Supervisory Service, congressman Min, Byungdu , National Assembly, Feb., 2014
GARP inception meeting keynote speaker, July, 2014
Systemic risk seminar, Bank of Korea, Nov, 2015