This accounting case is intended to teach students how to compile an income statement, a balance sheet, and a cash flow statement. It focuses on Blank Corporation, an innovative South Korean company that bridged content and commerce by selling products directly through social media posts featuring video content that was designed to go viral. As Blank grows in 2016 and 2017, CEO Nam Dae-Kwang puts the company on a firmer footing, and begins to communicate with investors, by creating standard financial results.
After much deliberation, the founders of Velong formed a joint venture with two local partners in India as they calculated that India could remain intact amidst the rising tensions over trade between the U.S. and China. By choosing India to diversify away from China, the founders now had to tackle the challenges that they once experienced in their Chinese factory more than two decades ago when China had not yet become a manufacturing superpower. Could their operation thrive in India?
In 2023, Breezm, a South Korean startup, faced a strategic decision about how to grow its innovative 3D-printed, custom-fit eyewear business. Co-founded in 2017 by Zenma Park and Wooseok Sung, Breezm combined facial scanning, AI, and in-house production to solve the problem of ill-fitting glasses. With $4.5 million in 2022 revenue and a vertically integrated direct to consumer (DTC) model, the company aimed to go public by 2027. The founders now had to decide whether to optimize operations in Seoul, expand across Korea, or pursue international growth to reach scale and profitability. Each path presented different risks and opportunities. Domestic optimization could improve margins but limit long-term growth. National expansion would tap into new Korean markets, but face intense price competition. Global expansion offered the largest potential, yet required overcoming regulatory hurdles and investing in brand-building abroad. The choice would shape Breezm’s path to becoming a global leader in personalized eyewear.
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