“GMBA & MIM Is a Diversified Program That Meets Various Demands” – Interview with GMBA Program Director Yong Keun Yoo
Interview with GMBA Program Director Yong Keun Yoo
“GMBA & MIM Is a Diversified Program That Meets Various Demands”
The Round 3 application deadline for Korea University Business School’s GMBA & MIM Program (Dean=Professor Soo Young Kwon) is just one day away. Today, we brought an interview with GMBA & MIM Program Director Yong Keun Yoo to help those who still have questions about the program!
Since the program was reorganized from Global MBA into GMBA & MIM, Professor Yoo has been Program Director for one year. “The GMBA & MIM is a diversified program that can meet various student demands such as short-term career development and a dual degree,” said Professor Yoo who has a profound understanding and experience of the program. Find out more information about GMBA & MIM through this interview.
Korea University Business School’s Global MBA was reorganized as “GMBA & MIM.” What is the reason for this?
The GMBA is about to mark its 11th anniversary. Over the past decade, student needs have definitely changed. There are a variety of demands depending on students’ circumstances. For instance, some students are getting an MBA sponsored by their company, some are enrolling for their short-term career development, and some are aim for a dual degree. On that account, we believed that the one-year Global MBA program has to be changed, and it was reorganized into “GMBA & MIM” last year.
Tell us about the newly reorganized “GMBA & MIM.”
The “GMBA & MIM” is divided into three tracks as follows: ➊ GMBA Single Degree Track, ➋ GMBA + CEMS MIM Dual Degree Track, and ➌ GMBA + Exchange Program Track. The GMBA Single Degree Track is the same as the Global MBA. When applying for an MBA program, many applicants consider an overseas university as well. However, in order to earn an MBA abroad, there will be various opportunity costs. The GMBA Single Degree Track is designed for those who wish to enhance their career by studying in a globalized MBA program in Korea. This track, also known as Fast Track, was established to meet demands of students who want to concentrate on their studies for a year and quickly bring back to their companies.
Next, I will introduce the GMBA + CEMS MIM Dual Degree Track. Korea University has been selected as the representative business school in Korea, as our school became a full academic member of the CEM Global Alliance, an alliance of prestigious business schools, in 2015. The GMBA + CEMS MIM Dual Degree Track was launched by joining the CEMS. In this track, students will study at Korea University for a semester and then at one of the 29 partner universities abroad for another semester. Although each partner university has a different exchange program policy, students can generally earn a GMBA degree and a CEMS MIM degree, whose program was ranked fourth in the 2015 FT Rankings, within 1 or 1.5 years.
Last but not least, if you choose the GMBA + Exchange Program Track, you can go abroad for six months after completing one year of the KUBS GMBA Single Degree Track. This track will be suitable for those who not only learn business but want to increase understanding of global market environment and culture and gain hands-on experience.
What are the proportions of students enrolled in the three tracks?
Generally, 50% of students enter the GMBA Single Degree Track, 30% for the GMBA + CEMS MIM Dual Degree Track, and 20% for the GMBA + Exchange Program Track.
In case of the GMBA + CEMS MIM Dual Degree Track and the GMBA + Exchange Program Track, students will have to study in Korea and a foreign country. How much is the tuition fee?
For the GMBA + CEMS MIM Dual Degree Track, students are required to pay tuition at Korea University only, which is the same as the GMBA Single Degree Track, and they are responsible for their living expenses for studying abroad. One of the advantages is that students can earn two degrees by only paying for the KUBS GMBA tuition fee. For the GMBA + Exchange Program, students will study at an overseas university for an additional semester through “Completed Research Student System” after completing the one year curriculum at KUBS. It means that students can study abroad at a partner university, with the additional fee of 500,000 won. Fixed fees may be charged as some partner universities request a course fee or membership fee
Which schools are the academic members of the CEMS Global Alliance?
Only the most reputable business school in each county can join the CEMS Global Alliance. As of now, the 30 prestigious universities around the world, including ▲Korea University Business School in Korea, ▲The London School of Economics and Political Science in the United Kingdom, ▲HEC Paris in France, ▲Ivey Business School in Canada, ▲Keio University in Japan, ▲Tsinghua University School of Economics and Management in China, and ▲National University of Singapore in Singapore, are full academic members. These CEMS member schools are carrying out active exchanges in many aspects. They bring synergy to all involved by benchmarking excellent curriculums and sharing their know-hows. ▶ CEMS School List
A MIM degree is quite unfamiliar in Korea. Tell us more about the CEM MIM of the GMBA + CEMS MIM Dual Degree Track.
I am sure many of you are unfamiliar with a MIM (Master of International Management) degree. The MIM is simply a “European MBA.” Unlike a regular MBA program, the MIM prefers people with a short career span. So, students are mandatory to do an internship aboard to obtain a MIM degree.
Because of this, a business school must invite a Corporate Partner in order to become a member of CEMS. The CEMS corporate partners are Google, BCG, McKinsey, Facebook, P&G, etc. KUBS has brought in Hyundai Motor Company as its corporate partner. These corporate partners offer an internship opportunity to CEMS student only, and CEMS also actively supports internship and employment opportunities. I strongly believe that students can land a job at a global company through an internship program provided by CEMS.
You said doing an internship is a must in the CEMS MIM. Do students with work experience have to do an internship?
No, they don’t have to. Students who already have work experience are exempt from doing an internship. In fact, when seeking for a job after graduation, they can access to a corporate pool provided by the CEMS Global Alliance.
If a student enrolls in the CEMS MIM, how will he or she be assigned a CEMS member school for the exchange program? Also, how many exchange students from CEM member schools are coming to KUBS?
Though each member school individually send and accept students, they have mutually agreed to accept students selected by the CEMS member schools; thus, there is no additional application or admission process to study abroad. According to the students who chose the CEMS MIM track last year, they not only go abroad in Asia — such as Hong Kong and Australia — but study in Canada, the United Kingdom, France, Switzerland, Spain, etc. Overall, there are many CEMS member schools in Europe, so this track is recommended to people who want to build a business network in Europe.
KUBS will accept students from other CEMS member schools starting next semester, and we expect to have more than 25 incoming students per year. As students will be selected by the best business school in each country, we look forward to having more talented and outstanding international students.
I heard that the CEMS MIM Graduation Ceremony is very special.
The CEMS MIM Graduation Ceremony truly proves that it is a strong global network. Even though students studied across the world, the CEMS MIM Graduation Ceremony allows students to gather in one place and affirms they are officially CEMS alumni.
In late 2016, I attended the graduation ceremony held in Stockholm, Sweden. Over 2,000 people, including the students of the 30 CEMS member schools and their family who came to celebrate joined the ceremony. This is indeed a large scale since 2,000 people across the 30 countries gathered in one place. The CEMS Graduation Ceremony 2017 will be held in Sydney, Australia. In 2020, KUBS will host a graduation ceremony in Seoul.
How do CEMS MIM students and alumni build a network?
People might assume that the CEMS alumni network would be weak because students are spread out in the 30 different countries. In fact, that is not true. The CEMS network is actively engaged. For instance, CEMS students of each member school meet up twice a year for three to four days and share their issues. Moreover, each school has clubs by area and industry, and club officers regularly have a meeting. There is a platform where students can network and share information on studies and career after graduation through CEMS Alumni Association, established in 1993.
I heard there is a track where students can earn an EBS MIM degree in Germany or an ESCP MIM degree in France along with a GMBA degree.
Yes, you are correct. Besides the three tracks we’ve talked about, we also run another dual degree program in partnership with EBS in Germany and ESCP in France. EBS is dominant in automobile business sector while ESCP is well-known for having luxury marketing. The program is a two-year curriculum — one year at KUBS and another year at EBS or ESCP. People who have decided to pursue their career path in automobile industry or marketing tend to apply for this program.
It’s been one year that you have been GMBA Program Director. Is there any memorable episode with students?
There is a program called “IRP (International Residence Program) where students pursuing the GMBA Single Degree Track take classes abroad for two weeks. In February, we went to ESADE in Barcelona, Spain. Although I am not interested in soccer, I became a huge fan of FC Barcelona after watching their soccer match and cheering with the students. One of the great things about being a program director is that I get to experience many things with my students.
What is the most important qualifications when selecting students?
One must set a clear goal in his or her career. Also, since all classes will be conducted in English, applicants are required have basic English skills. The most important thing in an interview is having confidence in your goal and expressing your motivation of why you want to enroll in an MBA program.
Before wrapping up the interview, please give any advice to prospective “GMBA & CEMS MIM” applicants.
I believe businesses will eventually connected to one another. Due to the U.S. oriented market, Koreans were only interested in an MBA program offered in the U.S. However, markets in Europe, Asia, and South America have been gradually expanding nowadays. Students can study abroad at one of the 29 CEMS member schools located in Europe, Asia, and South America though the GMBA + CEMS MIM Dual Degree Track. As the program offers students a strong network and various culture and business experience, this will be the best choice for those who would like to do “real global business.” The GMBA Single Degree Track is suitable to people who already have work experience and plan to return to their job after updating business knowledge within a short period of time. The GMBA + Exchange Program is good for those who wish to experience local culture and market through an exchange program after completing one year curriculum at KUBS. As you can see, the GMBA & CEMS MIM has a variety of options to satisfy many student demands. I hope you get to meet many people and build a precise and wide career path in the GMBA & CEMS MIM.