A passionate professional and leader in the real estate industry, Ju Young Shin not only deals with the complex world of finance, but also treats her team with motherly care and love. Keeping her team members motivated is her preference and she likes to see them advance to increasingly elevated roles. Having received an award from former USA President Barack Obama for her volunteering services, she likes to stay grounded and humble.
In an interview with Business Frontier’s Deepa Natarajan Lobo, the Finance Director of Weave Living, Asia Pacific’s living sector specialist which owns, develops and manages properties to world-class standards,talks about leadership, cultural differences and staying on top of the changes in the industry.
Q. From a Senior Auditor to the Finance Director of Weave Living, how has your corporate journey unfolded?
My professional journey has been eventful, if there is one word to describe it. Being brought up in three countries— Japan, Korea and USA — with distinct societies, adjusting was a challenge. This made me more of a figure-cruncher as numbers everywhere speak the same language. Being naturally inclined to numbers made me decide on pursuing a career in finance and accounting. However, finance is an extensive field and eventually I was exposed to all facets of the discipline— auditing, accounting, corporate finance, joint ventures, mergers and acquisitions and so on.
Q. What is the leadership style you follow to motivate your team?
If I want to describe the leadership style I use in my role — it is like that of a mother. It might sound clichéd, but mothers are very reliable individuals who come to help when needed and teach long-term skills to their children.
A truly caring mum likes to teach her kids how to fish rather than give them fish. Mothers also rejoice in their children’s success and teach them how to strike a balance in relationships with siblings, friends and the like. A mother understands that every child is unique and needs a different kind of help and support. In fact, I bring the ‘motherly’ attitude encompassing whatever I have said to work.
I am happy to see my team grow and there is no element of competition with them. In fact, it excites me to see them advance so much more than I have. Because of this mindset, my relationship with my team is like a long-term friendship. I have always been using different leadership styles in keeping with the demands of the situation as I am very flexible.
Q. You have won honours and awards in your life including one from former US President Barack Obama. How do you feel about it?
I really believe in giving back to the community. Personal success and financial growth can sometimes blind us, especially to the needs of those around us. Volunteering to help old people or the homeless is one way of giving back to the community. Though I don’t expect anything in return for volunteering, I am fortunate that my commitment to help others has been recognised by some honours, which includes the President’s Volunteer Service Award. I was conferred the honour by the then USA President Barack Obama in 2010. The honour, unexpected as it was, acted as a very powerful reminder to continue on the path of volunteering and helping others.
Q. You have studied in the US and are now working in Japan. Do cultural differences have an influence in your professional life?
Well, the cultural differences between the West and the East are something that everyone notices. The funny thing, however, is that there are significant cultural differences among Asian countries themselves— be it Japan and Korea; or Japan and Hong Kong. Being specific, working in New York is characterised by specific communication that leads to faster decision making and ultimately the focus is on efficiency.
However, in some Asian cultures — not all — the focus is more on the process than the outcome itself. For example, in an Asian nation, they will consider the process that would be least offensive to people or considered culturally more polite even though the outcome will be the same as in the West. Both ways have their advantages and disadvantages but with the advent of globalisation, the cultural divide is likely to bridge faster. Many Japanese businesses are already becoming more direct and efficiency-driven, resulting in effectiveness being the essential parameter.
Q. How do you stay abreast of the latest changes in the industry?
The obvious and simplest way of keeping up with the changes is listening to news and reading articles. For me, it’s all about people as they are the customers and users as well. So, understanding how people feel and think gives me a clear picture of what’s changing around the world.
Therefore, I spend time with students to understand the latest trends, their dreams and goals, including the use of technology. We live in an era where data and information is very abundant. Hence, instead of relying on information through what I read, I form my experience around what I myself see.
To get a first-hand feel of the real estate market, I like to check out every single hotel out there. Talking to competitors gives me a fresh perspective on the industry as well.
Q. What do you do to unwind after the grind of your busy work schedule?
When I am not working, I like to spend time with my family. It could be taking long walks around the park or watching a movie or just sitting around and talking. Such moments actually allow me to cherish what I have.
I am blessed to have a husband who helps me reorganise my thoughts and understand different perspectives. So after work, we go for long walks where we discuss the issues I am facing at the workplace and the solutions available. We also discuss business ideas. This allows me to unwind and relax after a tiring day at work, helping me recharge and get a fresh perspective from the other side of the table.
Q. Is it challenging to be a woman in the real estate industry?
I don’t think I have a challenge per se, being a woman in the real estate industry. But I have experienced more than a man would. At times, it is both the gender and the age. In many old school companies, they prefer slightly older men. So at times, I take an older male employee with me to lead the conversation. However, once I start speaking, they begin to open up.
