Professional Sports in Korea and Comparison to the US Sports
This lecture addresses the business in Korean professional sports leagues in comparison to the North American professional sports. In particular, baseball will be discussed in detail since the baseball league (Korean Baseball Organization, KBO) is the most developed among various sports leagues in Korea. The lecture will map out the state of KBO revenues, costs, profits, team values, and regulations in the player market, and the state of competitive balance compared to MLB.
Young Hoon Lee is currently a professor of economics at Sogang University in Seoul Korea. He received his Ph.D in economics from Michigan State University in 1991. He is an expert in econometrics and sports economics and has published various papers in specialized journals such as Journal of Econometrics, Economic Inquiry, Journal of Productivity Analysis and Journal of Sports Economics. In the field of sports economics, he has studied team efficiency measurement, temporal variations in competitive balance and the uncertainty outcome hypothesis. In particular, his study on habitual attendance of sporting events is one of his pioneering works in the field. He was also a member of the editorial board of Journal of Sports Economics and the International Journal of Sport Finance.