[Power K-Women] "Create New Paths and Break Through Blockages"

Han Ikyeong, CEO of Polaris Advisors
Over 20 Years of Global Hotel and Resort Development Experience... Built Career Facing Discrimination Against Asians and Women
"People and Spaces Must Break Boundaries"... Planning a Business to Break Stereotypes of 'Urban Hotel Vacations'

Editor's NoteAsia Economy will select women who are active in various fields both domestically and internationally as 'Power K-Women' and announce them through the ‘2023 Women Leaders Forum’ to be held on October 24th at the Lotte Hotel in Sogong-dong, Seoul. These women leaders have broken or transcended boundaries despite barriers such as gender, race, disability, and poverty to create new and universal values. Their stories will provide comfort to a weary world, serve as role models for others, and empower communities to move forward. We introduce candidates for Power K-Women who have stood up and fought without shrinking from discrimination or being trapped by boundaries.

After spending over 20 years traveling the world building hotels, the first thing he did upon returning to Korea was to buy a small inn that had been standing for more than 50 years. The space had been a place where people visiting detainees or laborers living in monthly rentals stayed, and he signed the contract after just one day of inspection. He tore down the old partitions but left the small windows, refurbishing the worn inn. The completed building was named 'Wonangari.' It serves as his office and a space anyone can come and use.

"(Wonangari) is a pure Korean word meaning to make a path and clear blocked places," said Han Ikyeong, CEO of Polaris Advisor, who has led the development of renowned hotels such as Marriott and Hilton.

CEO Han moved to the United States in December 1989 and studied architecture at the University of Michigan and Harvard Graduate School, and real estate development at the University of Southern California (USC) Graduate School. After graduating, she worked as an architect in the U.S. and the Netherlands, and from her 30s, she traveled the world for over 20 years leading the development of hotels and resorts for global hotel groups such as Marriott and Hilton, earning the nickname 'Godfather of the Hotel Industry.' She returned to Korea in 2018 when she took on the role of CEO at Polaris Advisor, a real estate consulting business. In Korea, she was responsible for opening hotels such as the Chosun Palace in Seoul and Gravity in Pangyo. Polaris Advisor also handles new hotel projects for Marriott.

Han Ikyeong, CEO of Polaris Advisor, is being interviewed on the 27th at Wonangari, Seodaemun-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Her first project in Korea was unexpectedly building Wonangari. She focused on embedding her own philosophy about space. One wall in the office revealed the exterior wall instead of wallpaper, giving a unique feel. CEO Han explained, "Normally, for insulation purposes, you wouldn't expose the exterior wall, but I thought the idea that a space must be a certain way is a stereotype. Why hide the old building's exterior wall? So I boldly exposed the area that was hidden under the finishing materials."

This aligns closely with CEO Han's life philosophy of 'breaking boundaries.' She originally wanted to become a physicist but, after considering practical fields, decided to major in architecture, which is related to 'structure.' After deciding, she immediately went to study architecture in the U.S. What captivated her was hotels. At the time, in Korea, there was a perception of "What is a woman doing going in and out of hotels?" but she was drawn to the charm of the space hotels offer and stepped into the field.

The path to realizing her dream was not smooth. The first wall she faced was stereotypes. It was not easy to work as an East Asian woman in Western society, especially in the male-dominated field of real estate development. CEO Han recalled, "I clung to it with all my might. Communication skills are important in the real estate development market. In Korea, I was considered somewhat passive, but in the U.S., I was treated like a fool. Being a woman and Asian were multiple layers of identity that acted as handicaps, so I had to change my personality first to survive."

She began to act proactively. CEO Han said, "When I went on business trips, I would push my boss into the window seat on the plane and ask everything I was curious about. Eventually, the boss thought I was admirable and taught me everything. I wore a safety helmet and visited sites, learning everything from that person. Later, I ended up taking charge of selecting construction companies and settling costs."

Han Ikyeong, CEO, attending the VIP event of the 55,000-pyeong 'Shanghai Retreat by Octave' development project opened in Suzhou, China in 2018. Photo by Han Ikyeong

She developed the strength to endure. She believes that building a life and building a hotel are similar processes of erecting pillars and constructing upwards. CEO Han emphasized, "It takes at least 2-3 years, sometimes up to 5 years, to build and open a hotel. During that time, you have to repeatedly engage in countless conversations and persuasion with workers every day. Maintaining the center is necessary. I learned that through countless failures over the past 20 years." Afterwards, she opened famous hotels and resorts in places like the United Arab Emirates and Singapore.

After more than 20 years abroad, upon returning to Korea, she faced different stereotypes. CEO Han said, "Abroad, people look for many creative methods, but in Korea, only the correct answer is demanded. So all the hotels and spaces in Korea felt the same. Apartments are all uniform, and cafes and hotels just try to look stylish." She criticized, "How can you dream of creativity when the bed position is the same in every house? Spaces built on the logic of capital cannot be good spaces."

To work in Korea's conservative culture, she had no choice but to take on the role of the antagonist. She said, "When I actually finished living abroad and returned to Korea, I became a foreigner. Korea has a culture of indirect opinions and is heavily influenced by decisions from above, so to work, I had to become an unprecedented character. I flatly rejected things, said why not, and boldly told them to make claims to headquarters if they wanted."

By pushing forward like this, she achieved results. The hotel she considers her greatest success and holds dear is the 'AC by Marriott Seoul Gangnam,' which opened last year. The 'Mercure Hotel' before remodeling was old and dark, and had long been a place where multi-level marketing company employees stayed in the lobby to conduct sales. She thought most of the design needed to be changed and began persuading. Although the hotel initially disagreed, as CEO Han led the transformation, they gradually began actively suggesting ideas like "How about putting a swimming pool in the room?" Communication began to take place.

After opening as AC by Marriott Gangnam, the level of customers visiting the hotel and sales soared to a different level than before. CEO Han recalled, "Eventually, the owner's ideas were reflected in the hotel structure, and communication was so good. It was a project that made me feel the possibility that the Korean hotel industry can grow together."

CEO Han is preparing to break down another boundary. The stereotype she aims to break this time is the idea of 'urban staycations.' Her philosophy is that famous hotels should not only be in big cities. She is planning a business to create 'Korean-style wellness'?spaces where people can rest comfortably in various regions of Korea with beautiful natural scenery. She emphasized, "Hotels are just tools; ultimately, I want to be someone who creates ideal spaces."

CEO Han said, "We need spaces where we can hear our inner voice. We are shaken by too many external noises. We need to spend enough quiet time to listen to what we want to do and what we desire."

This life philosophy of CEO Han is fully reflected in Wonangari. While exposing the old inn's exterior walls as they are, she also boldly installed new windows. The first floor has a large table without a blocking middle door, allowing anyone to freely express their opinions. Just as the old inn was reborn as a new office, this space can naturally become a stepping stone for new challenges based on past experiences.

Han Ikyeong, CEO of Polaris Advisor, is speaking at the Walkerhill 60th Anniversary Commemorative Book Talk. Photo by Han Ikyeong

CEO Han urged future women leaders who dream of following her path to break down walls and cross boundaries. She said, "There is no need for women leaders to always appear strong or to meet certain standards. Whether wearing a skirt or any appearance, whether hard power or soft power, don’t be bound and just challenge yourself. Shout out what you want and challenge yourself as much as you want."

▶About CEO Han Ikyeong

Born in 1969, CEO Han moved to the U.S. in December 1989 and studied architecture at the University of Michigan and Harvard Graduate School, and real estate development at the University of Southern California (USC) Graduate School. After graduating, she worked as an architect in the U.S. and the Netherlands before entering the hotel and resort business. She served as Vice President of the U.S. Pyramid Hotel Group, Senior Design Manager of the Saadiyat Island Cultural District, which includes the Louvre Abu Dhabi, and CEO of China’s Octave Real Estate Group. Over the next 20 years, she led development projects for various brand hotels and resorts of the Marriott Hotel Group and Hilton Hotel Group across the U.S., Europe, the United Arab Emirates, Japan, and China. Currently, she is active as a guest lecturer at various universities and organizations.