S. Hun Seog is Professor at the Business School of Seoul National University, Korea. He received his Bachelor and Master degrees from the Business School of Seoul National University, and Ph.D. from the Wharton School of the University of Pennsylvania in 1995.
Seog’s current research is concerned with risk, insurance, and information. In addition, he is studying individual, organizational and social risk management.
He is associated with diverse academic associations related with risk, insurance and finance.

석승훈
연구분야 (Research Area): 위험, 보험, 금융 (Risk, Insurance, Finance)

EDUCATION

Ph. D: Wharton School of the University of Pennsylvania (1995)
(Insurance and Risk Management)
MA: Wharton School of the University of Pennsylvania
(Insurance and Risk Management)
MBA: Seoul National University
BBA: Seoul National University


CURRENT APPOINTMENT

Professor
Graduate School of Business and College of Business Administration, Seoul National University


HONORS & AWARDS

1. Outstanding Paper Award, 2014: Lee, Sunae and S. Hun Seog (2013), A Distinction between Business Groups and Diversified Firms: The Limited Liability Effect, Journal of Money & Finance 27 (2) (June): 125-143; Korea Money and Finance Association (2014.6.13, Daegu, Korea)
2. Outstanding Paper Award (2nd), 2013: Lee, Sunae and S. Hun Seog (2013), A Diversification Discount with Efficient Internal Capital, Asian Review of Financial Research 26 (1) (February): 101-121; Korean Finance Association (2013.11.22)
3. Outstanding Paper Award (2nd), 2013: A Study of the Effect on the Life Insurance Market of Life Settlement (Korean Insurance Journal 92, 2012.8); Korean Insurance Academy Society (2013.5.10)
4. 1st Han, Dong Ho Research Award (Best Paper Award), 2011: A Study on the Moral Hazard in the Health Insurance when Treatment is Determined by the Doctor (Korean Insurance Journal 86, 2010. 8); Korean Insurance Academy Society (2011.5.13)
5. Outstanding Research Award, 2008: KAIST (2008. 5)
6. Select Paper, 2004: Strategic Demand for Insurance; American Risk and Insurance Association (2004. 8)
7. Outstanding Paper Award, 1998: Equilibrium Price Dispersion under Competition among a Finite Number of Sellers: Implications for the Insurance Market: Asia-Pacific Risk and Insurance Conference (1998. 7)
8. Research Grant, 2002- 2006: KAIST
9. Research Grant, 1998, 2000, 2002: University of Seoul
10. Fellowship, 1991-1995: Fellowship of the Wharton School of the University of Pennsylvania

TEACHING AREAS

* Risk and Business: Undergraduate
* Firm, Value and Finance: Undergraduate
* Insurance and Risk Management: Undergraduate, Graduate
* Corporate Finance, Investment: Undergraduate, Graduate
* Insurance Economics: Ph. D.

RESEARCH AREAS

* Risk and Society
* Insurance & Risk Management
* Contract Theory and Application
* Finance


RESEARCH ACTIVITY

Journal Publication (International):

1. Seog, S. Hun (2012), Moral Hazard and Health Insurance when Treatment is Preventive, Journal of Risk and Insurance, 79 (4): 1017-1038, online (4/11/2012: DOI: 10.1111/j.1539-6975.2011.01459.x).
2. Seog, S. Hun and Yoon-Suk Baik (2012), Inefficient Investment, Information Asymmetry, and Competition for Managers, Journal of Public Economic Theory, 14 (6), December: 971-995.
3. Seog, S. Hun (2010), Double-Sided Adverse Selection in the Product Market and the Role of the Insurance Market, International Economic Review, 51 (1): 125-142.
4. Seog, S. Hun and Sungwhee, Shin (2009), Comparison between the Financial Theory and the Cooperative Game Theory in Risk Capital Allocation, Asia-Pacific Journal of Risk and Insurance, 4 (1), November: 1-16.
5. Seog, S. Hun and Yong J. Hyun (2009), Financing as a Marketing Strategy, Marketing Science, 28 (3) May-June: 526-540.
6. Seog, S. Hun (2009), Insurance Markets with Differential Information, Journal of Risk and Insurance, 76 (2): 279-294.
7. Seog, S. Hun (2008), Informational Cascade in the Insurance Market, Journal of Risk and Insurance, 75 (1): 145-165.
8. Ahn, Seongje, Hosun Rhim, and S. Hun Seog (2008), Response Time and Vendor-Assembler Relationship in a Supply Chain, European Journal of Operational Research 184 (2): 652-666.
9. Seog, S. Hun (2006), The Strategic Role of Insurance: The Warranty Case, Journal of Insurance Issues 29 (1): 33-50.
10. Seog, S. Hun (2006), Limited Competition, Information Asymmetry, and the Organizational Forms, Asia-Pacific Journal of Risk and Insurance 2 (1): 64-76.
11. Seog, S. Hun (2006), Strategic Demand for Insurance, Journal of Risk and Insurance 73 (2): 279-295.
12. Seog, S. Hun (2005), Distribution Systems and Operating Leverage, Asia-Pacific Journal of Risk and Insurance 1 (1): 45-61.
13. Seog, S. Hun (2002), Equilibrium Price Dispersion in the Insurance Market, Journal of Risk and Insurance 69 (4): 517-536.
14. Doherty, Neil A. and S. Hun Seog (2000), A Dynamic Model of the Coexistence of Distribution Systems: An Insurance Example, Singapore International Insurance and Actuarial Journal 4 (1): 19-36.
15. Seog, S. Hun (1999), The Coexistence of Distribution Systems When Consumers Are not Informed, Geneva Papers on Risk and Insurance Theory 24 (2): 173-192.
16. Baik, Yun-Sug and S. Hun Seog (1998), Analysis of Public Investment Decision-Making under Information Asymmetry, International Journal of Urban Sciences 2 (2): 150-159.

Journal Publication (Domestic; In Korean: * In English; (N) Not Refereed):

1. Hong, Jimin and S. Hun Seog (2013), On the Short Term Effect of Life Settlement Market, Korean Business Journal 47 (December) (N): 113-133.
2. Seog, S. Hun and Jimin Hong (2013), On the Secondary Market of Life Insurance, Korean Business Journal 47 (December) (N): 81-112.
3. Seog, S. Hun and Jimin Hong (2013), Demutualization of Insurance Companies, Journal of Management Case Research 47 (1) (N): 17-27.*
4. Seog, S. Hun (2013), Protecting from Flood in the U.S.A., Journal of Management Case Research 47 (1) (N): 1-15.*
5. Lee, Sunae and S. Hun Seog (2013), A Distinction between Business Groups and Diversified Firms: The Limited Liability Effect, Journal of Money & Finance 27 (2) (June): 125-143.*
6. Lee, Sunae and S. Hun Seog (2013), A Diversification Discount with Efficient Internal Capital, Asian Review of Financial Research 26 (1) (February): 101-121.*
7. Seog, S. Hun and Jimin Hong (2012), A Study on the Introduction of Life Settlement Based on Monopoly Insurance Market, Journal of Risk Management 23 (2), Autumn (December): 1-34.
8. Hong, Jimin and S. Hun Seog (2012), A Study of the Effect on the Life Insurance Market of Life Settlement, Korean Insurance Journal 92 (2) (August): 23-50.
9. Seog, S. Hun (2012), A Reexamination of Moral Hazard in the Health Insurance, Journal of Risk Management 23 (1): 1-23.
10. Seog, S. Hun (2011), On the Multi-Picture Agreement: An Investor's Perspective, Review of Cultural Economics 14 (1) (June): 163-180.*
11. Seog, S. Hun (2010), A Study on the Moral Hazard in the Health Insurance when Treatment is Determined by the Doctor, Korean Insurance Journal 86 (August): 1-21.
12. Jang, Joon-Kyung, S. Hun Seog, and Joon-Seok Kim (2007), The Information Effects on Regulation Fair Disclosure on Earnings, Korean Journal of Money & Finance 12 (1): 107-139.
13. Kim, Suhkyong and S. Hun Seog (2007), Prospect Theoretic Approach to Blackjack Market, Korean Journal of Money & Finance 12 (1): 141-180.
14. Seog, S. Hun (2005), Risk Sharing and Insurance in Netizen Funding, Korean Insurance Journal 71 (August): 1-22.
15. Seog, S. Hun and Seogje Ahn (2001), Risk and Revenue Sharing in the Supply Chain in the Movie and Video Industry, Korean Insurance Journal 59 (August): 75-100.
16. Seog, S. Hun (2001), Marketing Channels in the Insurance Industry: A Cost Strucutre Approach, Journal of Economics and Management 16 (1), February: 113-122.
17. Ahn, Seongje and S. Hun Seog (2000), Real Option Approach to the Optimal Inventory Decision Model, Journal of Economics and Management 15 (1), February: 71-84.
18. Seog, S. Hun (1999), Irreplaceable Good, Background Risk, and Insurance Demand, Theses 33: 81-95.
19. Seog, S. Hun (1999), Monopoly and Strategic Insurance Demand, Journal of Economics and Management 14 (1), February: 77-88.
20. Seog, S. Hun (1999), Uncertainty in Sentencing and Incentives for Crime, Journal of Risk Management 12 (Fall): 289-315.
21. Seog, S. Hun (1998), Bang-bang Insurance Demand, Theses 32: 39-55.
22. Baik, Yun-Sug and S. Hun Seog (1998), Inefficiency in Public Investment under Information Asymmetry: Journal of Urban Sciences 24 (December): 311-321.
23. Seog, S. Hun (1998), Product Market and the Strategic Role of Insurance: Journal of Risk Management 10 (Fall): 113-128.
24. Seog, S. Hun (1997), Price Deregulation and Dispersion in the Insurance Market: Journal of Risk Management 7 (Spring): 113-127.
25. Seog, S. Hun (1997), The Effects of Independent Agency on the Insurance Markets, Insurance Development and Research 20 (1): 133-146.
26. Seog, S. Hun (1997), Optimal Consumption Behavior When Price Affects Utility Function, Seokyeong University Journal, 13.
27. Seog, S. Hun (1996), The Effect of Uncertain Application of Regulation and Institution on Efficiency, Industrial Management Review 1: 123-132.


Book & Book Chapters:

1. Seog, S. Hun (2014.9.30), Kyoungyounghak, Mooeoseoul Malhaeya Haneunga [Business Studies, What Should They Say] (Wisdom House; Kyung Gi Do, Koyang, Korea), ISBN: 978-89-6086-735-2.
2. Seog, S. Hun (2013.2.28), Chapter 2. CAT Bond of Tokyo Disneyland, The Business Case Study Series 31, Institute of Management Research of the Seoul National University (10 authors, Publisher: Udeumji): 57~69.
3. Seog, S. Hun (2013.2.28), Chapter4. Earthquake Insurance in the USA, The Business Case Study Series 30, Institute of Management Research of the Seoul National University (12 authors, Publisher: Udeumji): 89-104.
4. Seog, S. Hun and Jongwoon Hong (2013.2.28), Chapter 3. Samsung Life Going Public, The Business Case Study Series 29, Institute of Management Research of the Seoul National University (10 authors, Publisher: Udeumji): 74-94.
5. Seog, S. Hun and Sanghee Lee (2013.2.28), Chapter 2. The Specs of SPACs, The Business Case Study Series 28, Institute of Management Research of the Seoul National University (10 authors, Publisher: Udeumji): 39-54.
6. Seog, S. Hun (2010), The Economics of Risk and Insurance, Wiley-Blackwell (Malden: MA, USA), 2010.3.22. ISBN: 978-1-4051-8552-3.
7. Seog, S. Hun (2008), Strategic Corporate Finance for CEO, Kyung Moon Sa (Seoul; Korea), 2008. 2. (In Korean). ISBN: 978-89-420-0471-3.
8. Seog, S. Hun (2004), Chapter 7. A Study of Korean Workers' Compensation, A Study of International Workers' Compensation Insurance (Korea Labor Institute): 251-306, 2004. (In Korean)

Other Publications:
1. Seog, S. Hun, A Study on the Moral Hazard in the Health Insurance when Treatment is Determined by the Doctor, Essays in Celebration of Professor Yun, Ke Sop's Retirement: 131-149 (reprinted from Korean Insurance Journal).
2. Seog, S. Hun and Yunjin Lee (2002), A Study on the Entertainment Funding, Essays in Celebration of Dr. Cho's Retirement: 309-329.
3. Seog, S. Hun (1997), Fuel Tax and Incentive Problem, Essays in Celebration of Dr. Cho's Sixtieth Birthday: 75-88.



Presentations (Refereed):

1. Hong, Jimin and S. Hun Seog, Moral Hazard and Loss Reduction under State Dependent Utility
A. Asia-Pacific Risk and Insurance Association Conference (2014.7, Moscow, Russia (7.27-7.30))
2. Hong, Jimin and S. Hun Seog, Life Insurance Settlement and the Monopolistic Insurance Market
A. Korean Finance Association Conference (2013.11.22, Korea U., Seoul, Korea)
B. Western Risk and Insurance Association Conference (2014.1.7, Napa Valley, USA (1.5-1.8))
C. Korea Risk Management Society Conference (2014.3.28, Seoul).
D. American Risk and Insurance Association (2014. 8, Seattle, USA (8.3-8.6))
3. Seog, S. Hun and Jimin Hong, On the Secondary Market of Life Insurance
A. Korean Finance Association Conference (2013.11.22, Korea U., Seoul, Korea)
4. Seog, S Hun, The Economics of Life Insurance Settlement
A. American Risk and Insurance Association (2012. 8, Minneapolis, MN, USA)
5. Seog, S. Hun and Jimin Hong, A Study on the Introduction of Life Settlement
A. Korea Money and Finance Association Conference (2012.6.9, Wonju, Kangwon Do, Korea)
6. Hong, Jimin and S. Hun Seog, A Study of the Effect on the Life Insurance Market of Life Settlement
A. Korea Productivity Association Conference (2012.5.18, Seoul, Korea)
7. Seog, S. Hun, A Reexamination of Moral Hazard in the Health Insurance
A. Korea Risk Management Society Conference (2012.3.30, Seoul, Korea): 1-17.
8. Seog, S. Hun, On the Efficiency of Life Settlement
A. Korea Productivity Association Conference (2011.5.20, Seoul, Korea): 177-186.
9. Seog, S. Hun, Non-Extractible Rent and Compensation for Insurance Intermediaries
A. World Risk and Insurance Economics Congress (2010.7.25-7.29, Singapore).
B. Korea Money and Finance Association (2010. 6.11, Seoul, Korea)
10. Seog, S. Hun, Moral Hazard and Health Insurance
A. Conference in Celebration of Dr. Yun, Ke Sop's Retirement (2010.6.4, Seoul National University, Seoul, Korea)
11. Hong, Jong-Woon and S. Hun Seog, Analysis on the Impact of the Corporate Governance on the Efficiency of Korean Non-life Insurance Companies
A. 2009 Joint Conference of Korean Insurance Academic Society and Korea Risk Management Society (2010.2.18, Geumsan, Korea)
12. Hong, Jong-Woon and S. Hun Seog, Market Deregulation and the Role of the Korean Bureau
A. The Korean Insurance Academic Society Conference (2009.5,Seoul Korea)
13. Seog, S. Hun, Moral Hazard and Health Insurance when Treatment is Preventive
A. American Risk and Insurance Association (2009. 8, Providence, RI, USA)
B. Risk Theory Society Conference (2009. 4, Austin Texas, USA)
C. 2009 Economics Joint Conference of Korea (2009. 2. Seoul, Korea)
14. Hong, Jong-Woon and S. Hun Seog, The Effect of Corporate Governance on the Performance of Insurance Company: Evidence from Korean Insurance Industry
A. Asia-Pacific Risk and Insurance Association (2008. 7. Sydney, Australia)
15. Lee, Sunae and S. Hun Seog, A Distinction between Business Groups and Conglomerates: The Limited Liability Effect
A. Joint Conference of Korean Finance Associations (2008. 5. Asan, Korea)
16. Lee, Sunae and S. Hun Seog, Diversification Discount under the Efficient Internal Capital Market
A. Southern Finance Association 2007 Annual Meeting (2007. 11. Charleston, USA)
B. The 34th European Finance Association meeting (2007. 8. Ljubljana, Slovenia)
C. The 18th Meeting of Asian Finance Association (2007. 7, Hong Kong, China)
D. The Korea Financial Management Association (proceedings)(2005. 11, Seoul, Korea)
17. Seog, S. Hun and Sunae Lee, Costly External Financing and the Capital Shock Theory of the Insurance Cycle
A. American Risk and Insurance Association (2008. 8, Portland, USA)
B. International Conference of the Korean Insurance Academic Society (2008. 5, Seoul, Korea)
C. Risk Theory Society Conference (2008. 4, Fort Collins, USA)
D. Korea Finance Association (2007. 11, Seoul, Korea)
E. Korea Money and Finance Association (proceedings) (2007. 6, Seoul, Korea).
18. Kang, Chang Mo and S. Hun Seog, Double Adverse Selection in the Insurance Market: Risk and Fraud (formerly, Equilibrium in the Insurance Market with Adverse Selection and Fraud)
A. Korea Risk Management Society (2009. 4. 17, Seoul, Korea)
B. American Risk and Insurance Association (2007. 8, Quebec City, Canada)
C. Asia-Pacific Risk and Insurance Association (proceedings) (2007. 7, Taipei, Taiwan
D. Korea Money and Finance Association (proceedings) (2007. 6, Seoul, Korea)
19. Jung, Hae Won and S. Hun Seog, Product and Price Competition in a Cross City Model
A. European Economic Association & Econometric Society 2007 Parallel Meetings (2007. 8, Budapest, Hungary)
B. The 12th International Conference of the Korea Economic Association (proceedings) (2006. 8, Seoul, Korea)
20. Seog, S. Hun, Insurance Markets with Differential Information
A. American Risk and Insurance Association (2006. 8, Washington DC, USA).
B. Asia-Pacific Risk and Insurance Association (proceedings) (2006.7, Tokyo, Japan)
C. Korean Insurance Academic Society Conference (proceedings) (2006. 5, Seoul, Korea
21. Seog, S. Hun, A Blessing in Disguise: Corporate Governance, Firm Value and Competition
A. Korean Finance Association Conference (proceedings) (2006. 5).
22. Seog, S. Hun and Sungwhee Shin, Capital Allocation Using the Cooperative Game Theory
A. World Risk and Insurance Economics Congress (proceedings) (2005.8 Salt Lake City, USA).
23. MacMinn, Richard and S. Hun Seog, Distribution of Price and Quality under Information Asymmetry
A. World Risk and Insurance Economics Congress (proceedings) (2005.8 Salt Lake City, USA).
24. Seog, S. Hun, Risk Sharing in Netizen Funding
A. Korean Insurance Academic Society Conference (proceedings, 7-22) (2005. 5).
25. Seog, S. Hun and Yong J. Hyun, Financing or Marketing: A Netizen Fund Paradox
A. Korea Finance Association Conference (proceedings) (2004. 11)
B. Korea Association of Cultural Economics Conference (proceedings) (2004. 10).
C. Korean Society of Consumer Studies (proceedings) (2004.10)
26. Seog, S. Hun, Strategic Demand for Insurance
A. Asia-Pacific Risk and Insurance Association Conference (proceedings) (2004.7)
B. American Risk and Insurance Association Conference (2004. 8).
27. Seog, S. Hun and Jangkoo Kang, Indexing Catastrophe Securities
A. Asia-Pacific Risk and Insurance Association (proceedings) (2004.7)
B. American Risk and Insurance Association (2004. 8)
C. Korea Association of Futures and Options Conference (2004. 12).
28. Seog, S. Hun, Informational Cascade in the Insurance Market
A. Asia-Pacific Risk and Insurance Association (proceedings) (2003.7)
B. American Risk and Insurance Association (2003. 8).
29. Seog, S. Hun, Distribution Systems and Operating Leverage
A. Asia-Pacific Risk and Insurance Conference (proceedings) (2002. 7)
B. American Risk and Insurance Association Conference (2002. 8).
30. Seog, S. Hun, Double-Sided Adverse Selection in the Product Market and the Role of the Insurance Market
A. Asia-Pacific Risk and Insurance Conference (proceedings) (2002. 7)
B. American Risk and Insurance Association Conference (2001. 8).
31. Seog, S. Hun, Public Investment, Information Asymmetry, and Insurance Market
A. Asia-Pacific Risk and Insurance Conference (proceedings: 271-279) (1999. 7).
32. Seog, S. Hun, Equilibrium Price Dispersion under Competition among a Finite Number of Sellers: Implications for the Insurance Market
A. Asia-Pacific Risk and Insurance Conference (proceedings: 228-239) (1998. 7).
33. Seog, S. Hun, The Strategic Role of Insurance: Interaction between Product Market and Insurance Market
A. Asia-Pacific Risk and Insurance Conference (proceedings) (1997. 9).



Presentation in Seminars/Workshops:
1. Joint Seminar of KAIST-Bank of Korea-Seoul Financial Forum (2008.11) : Financial Crisis and Financial Theory


Invited Lecture and Presentation:
1. Taiwan Insurance Association and National Chengchi University (2009. 12, Taipei, Taiwan): Ignorance is Bliss
2. Korean Re Lecture (2008.5): Financial Crisis
3. Finance Forum R11;Vision of the 21st Century (2005.8): Stock Options of the Financial Institutions: Issues and Their Solutions