“KUBS Teen Mentoring Day” Led Me to Dream of Entering KUBS” – Interview with Minsuk Kim and Geon Choi (Business, ’17)
Interview with Minsuk Kim and Geon Choi (Business, ’17) “‘The KUBS Teen Mentoring Day’ Led Me to Dream of Entering KUBS” Of those who participated in “The 1st KUBS Teen Mentoring Day” in 2015, four mentees became the Entering Class of 2017 at Korea University Business School (KUBS). <KU Business Journal> met Minsuk Kim (right) and Geon Choi (left) to hear their stories. Q. What made you apply for “The 1st KUBS Teen Mentoring Day?” Minsuk: My high school teacher saw the notice about the KUBS Teen Mentoring Day and recommended it to me since I had shown interest in Business Administration. I also thought it would be a good experience and decided to participate in the event. Geon: I had been interested in Korea University and used to collect various information through its website. Since there were many applicants, I was worried about not being able to participate, but thankfully I was able to join as a mentee. Q. What did you gain through the KUBS Teen Mentoring Day? Minsuk: The New Product Development and Investment Program and Business Negotiation Training Program held during the Mentoring Day were most memorable. Through such activities, I became more attracted to the field of Business Administration. Moreover, the various and exceptional programs offered by KUBS and the high percentage of students receiving scholarships — which I heard from the student ambassadors — were very appealing. As a result, I became more certain of my goal to attend KUBS after participating in the Mentoring Day. Geon: The Business Negotiation Training Program had the largest impression on me as well. Each one of us had to play the role of a department head, debate, and draw a conclusion in one hour. That process was very new to me. I was able to think deeply about my designated role and learn more what Business Administration really is through the process of communicating between different departments. My experience that day was a big motivation when writing my college essay and helped me a lot in understanding Business Administration. Q. After entering KUBS, what was the most enjoyable memory of your college life during the past month? Minsuk: I enjoyed hanging out with my college friends the most. I feel like a day goes by so fast when I take the same classes and hang around with them. Of all the school events, the cheering orientation was especially unforgettable because we got to learn the school’s fight songs while rooting for the school with arms around each other’s shoulders. Also, the joint cheering orientation was wonderful as it let us socialize and get together with students from Yonsei University. Geon: For me, wearing my high school uniform and having Joong-jja (eating Black Bean Sauce Noodles on the Central Square’s grass) with my friends on April Fools’ Day were most memorable. Also, when we first got our school jackets, my friends and I were really happy and said “we are now officially Korea University students.” Although I was a bit shy at the cheering orientation but it was fun. I am especially attached to Korea University’s cheering culture since it was the first of its kind that I came across in high school. Q. Do you have any words to prospective KUBS students preparing for college application? Minsuk: KUBS is a place where students can do and enjoy lots of things. Prospective KUBS students, effort will never betray you! You might feel exhausted and stressed out now, but if you continue to do your best, you will experience a wonderful college life at KUBS. I look forward to the day we meet. Geon: When I bought books during my last year of high school, I wrote “KUBS” on the cover page and then studied. So, I made people think of “Geon Choi” when they talk about “Korea University.” I was able to enter KUBS because I believed in myself and was confident that I could do it.
“KUBS Has World-class Research Environment…Domestic MS/PhD Students Have Their Own Competitiveness” – Interview with Hye-hyun Park (PhD in Finance, ’17), Yunxiao Liu (PhD in Finance, ’16), and Minsun Yeu (PhD in Marketing, ‘15)
Interview Alumni Appointed Faculty of Chinese Universities - Hye-hyun Park (PhD in Finance, ’17), Liu Yunxiao (PhD in Finance, ’16), and Minsun Yeu (PhD in Marketing, ‘15) “KUBS Has World-class Research Environment…Domestic MS/PhD Students Have Their Own Competitiveness” The alumni who earned a doctorate from Korea University Business School (KUBS) came into spotlight as they were appointed faculty of leading universities in China. The two PhD graduates of Finance, Dr. Hye-hyun Park (advisor=Professor Baeho Kim) and Dr. Liu Yunxia (advisor=Professor Joonhyuk Kim), have been appointed faculty of Southwestern University of Finance and Economics and Tianjin University, respectively. In Marketing, Dr. Minsun Yeu (advisor=Professor Doo Hee Lee) was appointed faculty of Harbin Institute of Technology and will teach starting March. <KU Business Journal> met the three alumni who are about to begin their new journey at Chinese universities to hear their appointment stories. Q. Why did you decide to go to graduate school? Hye-hyun: I was recommended by my professor. Another reason that I decided to go to graduate school is because I thought academia is the right path for me. Even though I majored in Finance, I have a weak background in mathematics, so I got lots of help from professors. Minsun: I just dreamed of going to graduate school in the past. Because I enjoyed studying regardless of my grades, I wanted to continue my study at graduate school. I remember the days I studied hard at school when my friends prepared to get a job and do an internship. Yunxiao: I came to Korea through a student exchange program during my undergraduate studies. While studying abroad, I received an advice from my professor and then enrolled in a Master’s program in Business Administration at another university. After graduation, I became interested in finance and decided to change my major and enter a doctoral program at Korea University. Q. Are you not worried about living abroad? Minsun: It’s unfortunate that I’m unable to teach Korean students since I have been appointed at a foreign university. I’m still considering how to overcome cultural differences and build a rapport with students. Also, the language barrier is another concern of mine. As English is not a native language to both chinese students and me, it’s important to overcome this obstacle. Hye-hyun: I’ve only visited China to travel. So, I’m worried that I am not fluent in Chinese and have a lack of understanding of its culture. I will have to do my best to learn more about Chinese culture and language. Yunxiao: In my case, I did my graduate studies in a foreign country. As a foreigner, I didn’t have much difficulties studying in Korea. I got a lot of help from excellent professors, and my life in Korea was very comfortable. Also, as I was financially supported, I was able to fully concentrate on my research. Q. What has given you the positive influence on your appointment? Hye-hyun: During the job interview, the interviewers mentioned that many of my research papers were awarded. It seems they recognized my field of research the most. In particular, the paper that was in the semi-final of the American Financial Society (FMA) Best Award received a good evaluation. Minsun: In my case, my experience of teaching lectures in English helped me. Besides the SSCI-listed journals published during my doctoral program, I have other papers written in English. The interviewers gave feedback that they were intrigued by my English papers. In addition, since I majored in Chinese in my high school, I was already interested in China, and my willingness to learn the language has positively influenced their decision. Yunxiao: The paper that was submitted in the Management Science received a good evaluation. I knew that Tianjin University gives high marks for publishing papers in an academic journal. I was able to be appointed at the school because my working paper written during my doctoral studies got positive reviews. Also, I was informed that China puts emphasis on research potential. I made a lot of effort to prepare for the presentation on my papers before the interview, and this was critical for my employment results as well. Q. Many students think that doctoral studies should be done in a foreign country. What are the benefits of studying MS and PhD programs in Korea? Hye-hyun: I am sure your English will be improved a lot if you study at an overseas university. However, I believe the benefits of domestic MS and PhD programs are clear. For instance, when you write a paper, you can get more in-depth feedback through active communication with your professors. Also, having many professors with outstanding research capacities, KUBS is comparable with other prestigious universities around the world. Minsun: I agree. The KUBS faculty has exceptional research capacities. In terms of worldwide rankings, their research performance and student quality are above standards, so I was able to study well without any difficulty. Also, as my advisor studied abroad, I had the opportunity to work with international scholars through his network. In this regard, there is not much difference whether you study abroad or not. In fact, I think it is better to study in Korea where you can build a Korean network. Yunxiao: I believe the environment is the most important matter when conducting a research. KUBS not only supports financially but also academically. Under the faculty with excellent research capacities and the caring atmosphere for students, I was able to learn more about research. Q. Any words of advice for students dreaming of going to graduate school? Hye-hyun: Ask yourself whether academia is the right path for you. Since you have to study alone for a long time, it is important to have a hardworking attitude without giving up. Research and studying are a long journey, so those who can enjoy the process can make it to the end. Minsun: Although doing well in school is important, I want you to think whether you enjoy studying. If you do, then I encourage you to go to graduate school. In my case, I enjoyed the process of collecting survey data, analyzing, and writing a paper about it. In addition, if you are thinking about becoming a professor, consider what teaching really is and see if sharing knowledge with students and learning together are not stressful to you. Yunxiao: You need time to seriously think about yourself. If you know what you’d like to study and major in, you are ready to apply for graduate school. Since the decision you make will lead you to a golden time of life, you will have to figure out whether you enjoy doing a research. Most of your routine will be repetitive such as reading papers, coming up with ideas, and using codes. If you say a “yes” to the life of a graduate student, then I believe the best environment to start your study is at KUBS. After you are admitted to the school, I recommend you read various papers that are related to the field of your study and understand your research status. Then, when you are ready to decide your research area, you should be able to conduct your own research.
“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.
[Interview with AMBA Program Director Jaiho Chung] The Best Choice to Build Your Career in Asian Market
Interview with AMBA Program Director Jaiho Chung “The Best Choice to Build Your Career in Asian Market” The S3 Asia MBA Program (AMBA) at Korea University Business School is an Asian-specialized MBA Program jointly operated by Korea University Business School, National University of Singapore (NUS), and Fudan University (Fudan). Established in 1905, all three universities have a long, unique history and known as the most prestigious universities in business education. To complete the program, students need to study at each university located in Seoul, Shanghai, and Singapore. For this reason, “S3 (S cube) Asia MBA” is named after the initials of the three cities. Not only Asian students from Korea, China, Singapore, India, etc. but also European students who are interested in the Asian market are enrolling the AMBA. As students can study in the major cities of the Asian economy while experiencing its local market and culture, the AMBA is the best choice for those interested in Asian business. We would like introduce the benefits of the AMBA through the interview with Professor Jaiho Chung, who is Program Director of the program. “If you want to pursue an MBA overseas and use it in your career, you need to think about which of the two regions — America and Asia — will be beneficial to you,” Professor Chung said. “The AMBA is the most advantageous program for those who wish to continue their career in Asian markets, such as Singapore and Hong Kong.” Please briefly tell us about yourself. I have been serving as Program Director of the AMBA at Korea University Business School since 2016. I graduated from Seoul National University with a Bachelor’s degree in Economics and received my Ph.D. in Economics from Harvard University. I served as an Assistant Professor at the National University of Singapore from 2001 to 2007. Now, I teach International Finance and International Business at Korea University Business School since 2007. You have been Program Director of the AMBA since last year. Please briefly explain about the AMBA. The AMBA aims to train business experts specialized in Asia. It is suitable for experiencing and understanding local culture because you get to study in the three countries including Korea, Singapore and China for a year and a half. The program has a total of three semesters. During the first semester, you study basic business courses at Fudan University. Then, you take major course like Marketing Strategy Operation at Korea University. NUS offers strategic courses as well as many other electives. Tell us about Fudan and NUS which jointly operates the AMBA with KUBS. While the north of the Yangtze River has the Peking University, the south of the Yangtze River, where Shanghai is located, has Fudan University. Beijing is the center of Chinese politics, and Shanghai is recognized as the center of economy and culture. Fudan has about 120 full-time professors, and its Executive MBA Program is ranked 40th worldwide in the FT Rankings. The university is currently constructing the new buildings, so students entering next year can study in a better environment. ▲View of Fudan in Shanghai NUS is the best in Asia, a prestigious business school ranking within the world’s top 10. The NUS Global MBA and Executive MBA are ranked 27th and 17th worldwide in the FT Rankings, respectively. NUS also has about 120 full-time professors and is well-known for having the world’s top 10 research capacity. ▲View of NUS in Singapore You said the AMBA is jointly operated by the three schools. What degrees will students receive from the AMBA? What are the requirements for obtaining a double degree? After successfully completing the curriculum, you can receive two degrees – one from your home university and another one from one of the two host universities. For example, if you are admitted to Korea University, you can earn an MBA degree from Korea University and another MBA degree from either Fudan or NUS. Although Fudan does not request additional requirements, you must have a GMAT score of 630 or higher to earn a double degree from NUS. You might think this score seems high but a two-year, full-time MBA program (4 semesters) at NUS requires at least 670. The AMBA has the benefit of earning a double degree with the relatively relaxed standards. In terms of the opportunity cost, you can complete the program within 1.5 years. Also, having the opportunity to move around the three cities sounds already appealing than staying in Singapore for two years, which could be a bit boring. Tell us about the new student selection process of each university. What are the important qualities when selecting new students? Each university selects students based on their nationality. Fudan selects students from △China, △Hong Kong, and △Macao, and NUS selects from South East and South West Asia including Singapore. KUBS selects Koreans and Japanese. American and European students will be selected by KUBS and NUS. All applications are evaluated based on an applicant’s specific career path and one's interest in Asia business. During the interview, it is important to talk about your ultimate goal, active attitude to maximize the effects of the MBA program, and specific plans after graduation. Students will be studying in the three cities – Shanghai, Seoul, and Singapore – in the AMBA. How do they adapt to each city? All students can stay in a dormitory at KUBS and Fudan. At NUS, students can live in the faculty dormitory, which is shared by three or four students, in front of the Main Gate. Some students choose to live off-campus and rent an apartment. Chinese, Korean, and Singaporean students will help you adapt to your new surroundings abroad. One of the great advantages of the AMBA is that you get to study abroad with your class every six months. So, you would feel like you’ve made a new family when you graduate. Career development is significant for students of a full-time MBA program. What services does the AMBA provide? KUBS provides career services through its Career Development Center called Career Hub. In addition, NUS and Fudan run their own career development centers as well as providing career services along with the alumni network. In particular, NUS has 20 staff members of the Career Development Center who work with MBA graduates, so you can take great advantage of this career service. Also, if you are planning to get a job or running business in Asia, you can receive career services provided the three countries and utilize the alumni network. As being Program Director of the AMBA for the past year, what are some strengths of the program? In the past, MBA programs in the United States were popular. One of the reasons that students choose an MBA is because of their career. However, it is not easy for Asians to get a job in a western country after receiving an MBA degree in the U.S. and Europe. This is why more and more people want to complete an MBA in Singapore, Hong Kong, China, and other Asian regions, and find a position in Asia’s emerging markets. I believe the AMBA, which is an Asian-specialized program, is an excellent option to provide job opportunities in Asian markets. Another strength is that you can earn the most degrees within the shortest period of time. While the most full-time MBA programs run for two years, AMBA students can receive two degrees in a year and a half and build an effective career path. What areas and markets do AMB graduates mostly pursue? AMBA graduates pursue in diverse areas. If students plan to get a job in Asian markets, they often spend their last semester in Singapore and stay there to look for a job. In addition, there were some cases where students continue their career in Indonesia, China, Hong Kong, etc. Most recently, one of the AMBA students got a position at Medytox, a pharmaceutical company in China. Moreover, many students who run their business in Asia are joining the AMBA. Some continue their business or develop a startup. The important thing is that you can get information about any areas you would like to pursue by using the network of the three universities. Who gets the greatest benefits from the AMBA? Those who want to build a solid network in Asia, such as China and India, will get the greatest benefits. A large-scale MBA program usually ends with a network consisting of only a handful people. The AMBA offers you the strongest network while traveling around the three cities with your class. Because of this, I strongly do not recommend this program to those seeking for a job in a conglomerate. Students who aim to advance into an Asian-centered global company or to start a business targeting Asian markets will be most satisfied. Do you have any words of advice for students looking to pursue the AMBA? Since all AMBA courses are conducted in English, you must work with your English skills. Also, you can make the most valuable assets in the AMBA only if you set an ultimate goal after graduation and develop specific plans for the future.
[Interview] Startup Express: Winter Seasons – Winning Teams (Vlogr, B&B Brothers, Brave Peach, and GridaZip)
The young entrepreneurs pitched their business ideas and fiercely competed at the 2016 Startup Express: Winter Season. Of the 43 teams, △Vlogr (Grand Prize), △B&B Brothers (Excellence Award), △Brave Peach (Encouragement Award), and △GridaZip (KUBS Research Association Award) were recognized for their excellent business items and won the competition. The four teams have moved into the Iljin Center for Startup Incubation, located on the second floor of KUBS Main Building, and are focusing on their startups. <KUBS Journal> interviewed the two teams to hear more about their business items and future plans. ▶ Related article: “KUBS Startup Institute Selects Its 2nd Teams…"Startup Express Winter Season” Grand Prize (First Place) - Vlogr “Videos can fully convey people’s lives. We want to help people caption and share their daily life instinctively and conveniently using Vlogr.” The motto of Vlogr (CEO TaeJun Lee, Business, ’11) is making video editing instinctive. Vlogr, which is a combination of the word “vlog (also as known as video blog)” and “er (indicating a user),” is based on a video editing app. Vlogr aims to lower the entry barrier of video editing programs through instinctive and automatic functions. “Many people want to share daily moments of their lives, not professional videos. However, the exiting editing programs are difficult use because there are so many complicated functions. So, our team wanted to help people use an editing program as intuitive as possible and make their video contents even better.” Excellence Award (Second Place) - B&B Brothers “We want to help people keep things organized effectively using Internet of Things (IoT).” B&B Brothers (CEO Jae Hyun Park, Public Administration, ’04) aims to expand the existing ERP (Enterprise Resource Planning) system to medium sized businesses by utilizing a basket-shaped storage platform “Stack (a tentative name).” <B&B Brothers>, which started out as a household goods manufacturer, hit a wall in the highly competitive manufacturing market. So, the team devised an idea to combine household goods with IoT. “Most IoT services are applied to home appliances. Even conglomerates are only concentrating on developing home appliances. However, if we think a little further, household goods with IoT can be used in many different places, such as small shops and homes.”
[Introducing KUBS Faculty Publication] Prime Broker and Hedge Fund
Introducing KUBS Faculty Publication | Prime Broker and Hedge Fund – Professor Ji-Woong Chung What Effect Does Prime Broker Have on the Hedge Fund? A joint research paper titled “Prime Broker-Level Co-movement in Hedge Fund Returns: Information or Contagion?,” by Professor Ji-Woong Chung at Korea University Business School (KUBS) and Professor Byoung Uk Kang at Hong Kong Polytechnic University, is published on the Review of Financial Studies. Prime broker is an indispensable financial intermediary in the hedge fund industry. Compared to regular brokers who simply make orders for clients, prime brokers provide a variety of services such as securities lending, financing, clearing and management/settlement, risk management to hedge fund clients. The relationship between the prime broker and hedge fund is often compared to marriage, and it would not be an overstatement to say that hedge fund operation is impossible without prime brokers. After the legalization of hedge funds in the mid-2000s, business circles and supervisory authorities in Korea have been putting much effort to develop the prime broker industry. In this research, the research team analyzed how the prime brokers affect the investment behavior of their hedge fund clients. On the first half of the paper, they documented strong co-movement in the returns of hedge funds sharing the same prime broker and later investigated which attributions of the funds and prime brokers underlie this co-movement of returns. The research team tested various hypotheses on the causes of the return co-movement. Among those, the common information hypothesis where the co-movements were the results of the common investment information provided by the same prime broker is supported the most. Prime brokers find information about various investment opportunities through in-house research or using their network, and share them to their client hedge funds. These industry practices seem driving the return co-movements among client hedge funds. Also, funds with stronger co-movements show higher returns. However, the authors cannot observe how the information is created, acquired, and shared, so the research team does not know if this information is legally acquired. The return co-movement can also be driven by the fact the prime brokers expose their clients to “the common risk.” During the early phase of the financial crisis, Lehman Brothers went under bankruptcy, and simultaneously, many of its hedge fund clients also experienced unusually high rate of failures. This “contagion” has happened because Lehman Brothers could not finance their clients properly, client hedge funds had to fire-sell their assets and suffered huge losses. However, the study shows that this contagion story is not the main cause behind the return co-movement especially during non-crisis periods. The results of this study also have important policy implications. For the purpose of monitoring systemic risk and illegal investment practices in the hedge fund industry, it seems helpful for regulators to cooperate with prime brokers.
[Success Stories] Jong Yoon Nam (Business, ’08) & Juyong Baek (Business, ’08): “Find a Job That Fits Your Skills and Interests”
[Success Stories] Jong Yoon Nam (Business, ’08) & Juyoung Baek (Business, ’08) “Find a Job That Fits Your Skills and Interests” Jong Yoon Nam (Business, '08) 1. Before getting ready to find a job I have joined Samchully City Gas Business this year and am in charge of Policy and Systems at the Business Support Team. I have a double major in Business Administration and Sociology. I personally think the most helpful experience in finding a job was participating in a business academic society. I was able to develop my logical thinking through industry-academia seminars and projects and also had an internship opportunity. I have experienced my field of interest directly and indirectly. 2. The reasons I chose this company Due to the nature of the city gas business, the company is quite stable. I also heard the overall welfare of the company is favorable. Although my main task is planning, it is different from business planning and more related to law. My job is attractive because I can lead the company’s growth by changing something. In addition, I think our team is in charge of the most central tasks in the company. Among many projects at Samchully, the most important business is city gas, and “Business Support Team” is on the forefront of the city gas business. I strongly believe this experience will be a stepping stone for my growth journey. 3. Cover Letter (Personal Statement) When writing my cover letter, I received help from the people in the related field and made a habit of collecting the most up-to-date issues to understand the job. I wrote my cover letter multiple times and asked my friends and the Career Development Center to proofread it. Juyong Baek (Business, '08) 1. Before getting ready to find a job I work as a credit analyst in the Business Finance Department at BNP Paribas CIB, Seoul branch, the French largest bank. During my undergraduate, I joined the Value Investing Academic Society for 6 months and studied about the listed companies and industries in KOSPI. This has led me to participate in internships at Fitch Ratings, which is an international credit analysis institution, and BNP Paribas CIB. These internship opportunities helped me find my specific career path. I was able to overcome my shortcomings by taking practical advice from the business world. When applying for an international financial company, it is difficult for entry-level job seekers to have competitiveness as companies prefer experienced candidates. An internship is a good way to accumulate business knowledge and enhance competitiveness. 2. Describe your job duties I analyze financial statements of major firms and multinational groups located in Korea and assess the internal ratings and industry reports in order to assist companies to start business. 3. The reasons I chose this company I’ve always had an interest in Finance and Accounting during my undergraduate studies. I enjoyed analyzing companies and industries. With that being said, a credit analyst was an attractive job to me because they analyze different dangers of the company and assess appropriate ratings to help diverse stakeholders in making decisions. As BNP Paribas CIB is an international company and was selected as the world’s best bank, I had an expectation that the company can develop me through systematic systems and education.
[Global Internship Program Student Interview | CJ China] “I’ve Grown One Step Further by Learning Business and Culture in China”
Global Internship Program Student Interview | CJ China “I’ve grown one step further by learning business and culture in China” – Je Hoon Lee (Business, ’11) I applied for the Summer 2016 Global Internship and worked as an intern for a month at the Business Development Team of CJ China, located in Beijing, China. I have been interested in the KUBS Global Internship since 2015. From then on, I kept track of the program information, such as the application period, internship locations, available companies and positions. During the semester, I read the student stories on the KUBS website and seek advice from my friends who have already participated in the program. Even though the internship opened in summer when I had to dive into the job-search market, I wanted to get an internship overseas, particularly in China, to develop my global perspectives. I decided to apply for the intern position in the Business Development Team because I was greatly interested in business strategy since I joined “EGI,” which is a business strategy academic society at KUBS. As CJ China is in charge of various CJ subsidiaries, I was able to receive job training in diverse fields of business. In fact, I had the chance to experience multiple tasks from researching Chinese markets to planning and developing new business items. I also got to communicate with the subsidiaries and local Chinese companies. In my team, there was the “Mentor-Mentee System” where interns can work on various projects. For example, I researched the effect of “THAAD Deployment to Korea” on CJ Group. Then, I collected the information on the Chinese market trends, which will be used for the company newsletter called “Biweekly.” I also got to work on the Joint Venture with Jingdong. Most co-workers can speak a little Korean, but all meetings were conducted in Chinese. So, it is important that interns should be fluent in Chinese in order to avoid miscommunication. The working hours were from 8:20 a.m. to 5:30 p.m. After work, I traveled around various places in Beijing. During weekends, I visited historical sites in Beijing. If time allows, I recommend going to the suburban regions in Beijing. I once went to Gubei Water Town and Simatai Great Wall, which were 2 hours away from Beijing. The places left a deep impression on me. The three major programs that help students develop global perspectives are (1) Student Exchange Program, (2) International Case Competition, (3) Global Internship. I was lucky enough to participate in both International Case Competition and Global Internship. The Global Internship was such a great opportunity for me to experience real-life tasks overseas. There are not many opportunities available where a student can research international markets in a different country and work with local employees. A domestic internship is a good experience too, but I believe the Global Internship is a great challenge to undertake. Lastly, I would like to thank KUBS, CJ China, and KUBS alumni who have supported us. Je Hoon Lee (Business, ’11)
[Study Abroad | Student Stories] Great Time with Wonderful People and Nature
[Study Abroad | Student Stories] Great Time with Wonderful People and Nature I went to HEC Montreal, which is located in Montreal, Canada, in Spring 2016 Semester. There were a lot of exchange students, and I was really thankful to local students and professors for their consideration and respect. At HEC Montreal, students must take at least 4 courses each semester. Also, they are allowed to register for a maximum of 5 courses. Since the official language of Montreal is French, most courses are taught in French. Some courses are conducted in English and Spanish. Exchange students can register for one additional language course each semester. Each class meets for three hours, once a week for 12 weeks. So, students must study on their own if they want to keep up with classes. For each course, I spent 3 hours on preparing for upcoming classes and 9 hours on reviewing the previous study materials every week. Here are the courses I took at HEC Montreal: International Management The professor passes out case analysis of global companies each week. International students team up to share other countries’ information and prepare for presentations. Ethic and Regulation in the Investment Industry This is a Finance course which allows students to come up with the best outcomes considering real issues in Quebec, Canada. Students have the opportunity to learn about the actual laws in Quebec and figure out which regulations can solve financial issues. International Economic Environment In this course, students can analyze global economic development and environment using a financial report. They can also analyze how each continent adapts to an international environment. The Welcome Week is a program designed for exchange students at HEC Montreal. There are events where students can taste traditional food in Quebec and experience winter sports, such as snow tubing and skating. The price for the program is about 250 CAD. In addition, there is an on-campus club called “HEChange” which assists exchange students. When students have problems on their study or school life, they can easily ask for a help. Montreal is located in the southeast side of Canada and is close to Toronto and New York. So, students can travel to eastern Canada and United States conveniently. Also, Canada is one of the easiest countries to travel to Cuba. Although I was not able to visit Cuba because I had a temporary residence visa, most of my friends went to Cuba. The things that I remember the most are the fresh air, blue sky, and wonderful locals. The five months I spent at HEC Montreal was a short period of time, but it has become the most precious time of my life. Tong Yan Yan (Business, ‘13)
[Interview | New President of KUBS Alumni Association] “Fortitude and Tenacity Are the Ways to Become a Good Leader”
[Interview | New President of KUBS Alumni Association] – Halla Group Chairman Mong-won Chung (Business, ’74) “Fortitude and Tenacity Are the Ways to Become a Good Leader” Since its first graduation in 1907, Korea University Business School (KUBS) celebrated its 110th anniversary. Alumnus Mong-won Chung (Business, ’74) was appointed as the new president of KUBS Alumni Association. President Chung has been leading Halla Group and made significant contributions in building the foundation of Korean economy, as well as enriching human life. He also was selected as “the 35th Alumni of the Year” last year. <KUBS Journal> introduces President Mong-won Chung’s passion in the past, present, and the future. Halla Group Chairman Mong-won Chung (Business, '74) Q. You are the Entering Class of 1974 and a living witness to the history of KUBS. We would like to know some of the memorable episodes of your college life. As you know, I went to school during the era when the economy was growing quickly and the numerous political issues were raised simultaneously. At that time, college students often participated in protests and I have some related memories as well. I remember having a discussion on the future plans for the KUBS students all night long. I also remember the time I was bewildered by the fact I was unexpectedly at the forefront of the rally. My parents scolded me for going out for a protest. One of the protest leaders back in those days is still a good friend of mine. I also met my lifelong friends during my undergraduate years. The eight of us became close after going out for a blind date with girls from another university. We are still close friends and will continue to cherish our relationships. Q. You are leading Halla Group in various fields such as construction, automobiles, retail, service, investment, education, and sports by accumulating experience and technology. What is the most important philosophy you hold while running the company. I would like to say that there are three important points to running a company. The most important of all is for the leaders to grow the insight which can be used to anticipate what are ahead. To do this, you have to stay alert. You have to continously observe the trends in the world and diverse changes in the industries while coming across new experiences and always trying to think deeply. The second point is to establish the company’s system and processes. You need to build a consensus among employees about the company’s plans, evaluate them on a rational basis for their work performance, and establish a system that fairly compensates them for the results. You also need to introduce a process that will advance the way you work and encourage the spirits of “Work Together”. The last is to acquire resources. Important keywords here would be “People”, “Funds”, and “Establishment of the Right Corporate Culture.” Among these, I think “People” is the most important, which leads me to focus on making the right environment where people can work well. Q. Many students are challenging themselves to establish startup companies. What would be an important quality to attain for students who dream of becoming the future CEOs? Primarily, to succeed in business, you have to put in enormous amount of effort yourself before anything else. Then, you have to create diverse and constructive networking and utilize social systems and supporting policies to the advantage of your business. Clear vision is the core component in running business. The vision will bring you passion which will be followed by efforts. However, this is not as easy as it sounds. Thus, wouldn’t it be important to endlessly challenge and build fortitude and tenacity while you are in school? I hope that you become a person who dreams, believes in that dream, and makes it come true. Q. Please give words of advice to KUBS students. I know that right now is a difficult era for youths where they can barely prepared for the society's minimum requirements. Even during these hard times, I encourage you to experience a lot of everything and anything. Always contemplate, travel much, and meet diverse people. No matter what it is, new experience will become valuable assets to you. Try and fail, and overcome that failure. Through such courses, you will form your own frame of thoughts, which will help you become a good leader.
Interview with Class of 2016 Valedictorians
Interview with Class of 2016 Valedictorians You Jin Hwang (Business, '13) / Undergraduate Valedictorian It is a great honor to graduate at the top of my class among talented fellow students and study and communicate with them for 4 years. At the same time, I feel like I have responsibility to work even harder after graduation. I would like to appreciate the professors, my parents, fellow students and university staff who helped me grow into what I am. Every second of those 4 years at KUBS goes through my mind like a flash. Every moment was precious, including the New Student Field Trip, which was my first trip after matriculation, team projects, Ipselenti, and Ko-Yeon Games that we never lost since my matriculation. Particularly, the moments with my outstanding university colleagues are most memorable. I’ve learned much from those fellow students, who have different personalities and interests, and made good memories that I would cherish for my whole life. KUBS offers students various programs including the Student Exchange Program, club, academic association, internship, startup support, and many more. Through these programs, students are able to find their interest as well as discovering their future path. I suggest you build a good rapport with superb professors and other students you meet at KUBS. During the university life, I hope you can share knowledge, experience, and opinions, while making good memories with your lifelong friends. Chanju Hwang (Entering Class of 2015) / KMBA Valedictorian Although I am surprised by this unexpected honor, I would like to express my sincere appreciation to all the professors who taught and gave insights to me, including Prof. Hasung Jang, Prof. Jong-Ho Lee, Prof. Jinbae Kim, Prof. Hyun Seung Na, Prof. James L. Park, Prof. Mannsoo Shin, Prof. Ki Hong Park, Prof. Dae Il Nam. Also, I would like to thank my bosses for understanding in allowing me to complete Korea MBA Program. I still remember many memories from the past 2 years, such as Sa-bal-shik (KU’s traditional drinking event) at the orientation session, welcoming party, field trip, team projects in various courses, KMBA Night, etc. Above all, the most significant thig is that I had the opportunity to think about Finance, which was my field of interest for the past 2 years, more deeply. I liked the fact I was able to easily meet the professors who have been well-recognized in various field in Korea and abroad. Having the opportunities to communicate with the professors, asking them many questions about my interest, and discussing about my future are tremendous assets to me. In addition, through my team projects, I was able to expand my knowledge and thinking system by gradually listening to others’ thoughts and closing the gap. Share your “passion” through networks with colleagues and alumni in KMBA. There are many people who still do not know what they like to do and what they are good at. I hope you can find the answers while studying in KMBA. Perichiappan Perichiappan, Ganesh (8th Class) / AMBA Valedictorian Firstly, it is an honor to receive the presidential prize. I must confess, I never thought I would top my class. On the first day of orientation at Fudan University, everyone I had talked to had a plan. They knew what they wanted to do, which role they wanted and which industry they wanted to get into post-MBA. I didn’t. It was quite scary to be the only clueless person in my batch. But looking back, I think that is also probably the reason why I ended up at the top. The uncertainty that comes with not having a plan forced me to be open to everything that the MBA had to offer me. My MBA year book has messages scribbled by my classmates. Of the 28 messages, 23 of them have a particular word in the messages: "Insightful". I may not have had a background in business, but I am insightful. I loved learning diverse subjects and connecting them and sharing them. This came across in my assignments, in my group presentations, in my class participation and in the exams. My advice to the future batch would be to stay open, spend time on fundamentals and sharpen the knack for developing insights. Topping the class will automatically follow. In the future, there will be two jobs: One where machines tell you what to do and the other where you tell the machines what to do. Being insightful will enable you to do the latter job.
[KUBS Student Interview] “Making a College Life without Regrets Depends on Yourself”
Interview with KUBS Students “Making a College Life without Regrets Depends on Yourself” How do students of Korea University Business School (KUBS), one of the most prestigious school in Korea, spend their college life? The KUBS students have gathered together to share their experience for prospective freshmen wondering what college life is like. On November 8, <KUBS Journal> met Freshman Hui Su Lee (Business Administration, ’16), Sophomore Jongin Lee (Business Administration, ‘13), Junior Ji Hyun Yang (Business Administration, ‘13), Senior Jungsoo Lee (Business Administration, ‘13) to ask about their life at KUBS. The students, all in different grades from freshman to senior, said that it is important to find your area of interest in order to make a college life without regrets. (From the left) Sophomore Jongin Lee (Business Administration, ‘13), Senior Jungsoo Lee (Business Administration, ‘13), Freshman Hui Su Lee (Business Administration, ’16), Junior Ji Hyun Yang (Business Administration, ‘13) Q. What is the difference between expectations you had in high school and reality of college life? Hui Su Lee: One difference is that, unlike in high school where we learned things from our teachers, we can actively study through debates and discussions in college. Jongin Lee: In middle and high schools, I learned English by rote or cramming education. However, in college, I have improved my English a lot as I enthusiastically participate in English courses and English debates. The campus is an environment where you can freely study with your friends. In my case, I make study groups with peers taking the same course to overcome hardship in studies. Jungsoo Lee: KUBS has multiple opportunities to meet with international students, as you move up to higher grades. Especially in the junior and senior year, half of the students who take major courses are international students and we exchange project feedbacks with each other. Q. Why did you choose KUBS? Hui Su Lee: For me, all courses offered from the Department of Business Administration were my area of interest. That is why, even before admission, I browsed the KUBS homepage to get more information, and looked forward to college life at KUBS. Since my sophomore year of high school, I have tried to acquire Business knowledge by studying the “TESAT” which is a National Certification of Economics. Jongin Lee: I have chosen KUBS because I wanted to spend my college life without regrets. I wanted to enjoy the unique cheering culture of KU and also study with friends on the nice campus. Ji Hyun Yang: The reason I wanted to come to KU was because of the special bond among KU students. I spent my high school years listening about college life from teachers who graduated from KU, and my expectations of KU culture and its network were high. Jungsoo Lee: Similarly, my motive to enter KU was the special bonding culture of students. Most of my teachers in high school were from KU and I saw them attend KU college reunions consistently after graduation. By looking at them, my goal was to come to KUBS, believing that I can enjoy my college life at KU for a long time. Q. Which extracurricular activities are you participating in? Ji Hyun Yang: Previously, I was a member of KUBS Student Council. As Plan/Finance Director, I planned a KUBS student festival and carried out different projects for student-lead activities. I am now the student representative of “KUBS Ladies” which is an alumnae association of KUBS. I am working to strengthen the network among KUBS women alumni. Hui Su Lee: I am currently in the KUBS Soccer Club “Kyung Chuk.” I was also a member of my high school soccer club, but university soccer clubs are more systematic and have a fun atmosphere. I am playing with many seniors, so I receive advice on studies and career from them. I am experiencing KU’s special bond through the soccer club. Jongin Lee: I am a member of KUBE, which is KUBS Student Ambassadors. At first, it was not easy to introduce KUBS in front of people whom I do not know, but it is truly my pleasure to share information about KUBS to diverse people. I feel especially proud when introducing the school to high school students, who are future KUBS students, and becoming their academic mentor. Q. Wasn’t it difficult to balance your studies and other activities? Ji Hyun Yang: From the beginning of my university years, my goal was to participate in various activities. Since it was hard to invest time in studying, I always tried my best to focus during class and asked professors questions after class if I had anything that I did not understand. By understanding the materials, I could follow the course without any difficulties. Hui Su Lee: I always try to concentrate during class. Unlike high school, private institutes or lessons are not available, so it is important to practice your own method of studying. As our seniors mentioned, I make study groups with friends to study. When class ends, my friends and I review at KUBS study rooms and share parts that we do not understand with each other to keep up with class. Jungsoo Lee: There was a time when I was immersed in activities of an academic society. I used all of my time, except class hours, focusing on the society. It was hard to adjust my schedule, but I could keep my GPA by focusing only on my studies during the exam period. I also visited professors every day to ask questions. In particular, Finance courses were hard to understand at once, so I had to review the materials and organize my questions before visiting professors. Q. Is there a KUBS program that you would like to recommend to students? Jongin Lee: It would be great if KUBS students utilize the Academic Advisor System. There are many opportunities to meet with senior students and alumni through activities such as “Faculty-Student Mentoring Day” with professors. By meeting seniors, we can get motivated and receive thoughtful advice regarding studies and our future career. Jungsoo Lee: I also recommend the Academic Advisor System. I am still in contact with my advisor and often ask his advice. I even met my professor in the U.S. when I went on an exchange program. I visit his office and meet him regularly. There are many professors here at KUBS, so please do not be shy. Professors are interested in each and every student, and you can receive feedback about your studies. Ji Hyun Yang: I recommend various activities including the exchange program. I went on exchange twice receiving scholarships. If you research in detail about scholarships, exchange programs, internships, and alumni mentoring programs, you will find many opportunities, so take advantage of these. Q. Any last words of advice to high school students who wish to attend KUBS? Ji Hyun Yang: I hope you all spend a college life that extends your views and understanding of variety. Following the standard paths, such as becoming a CPA or a public officer, is not always the answer. I feel sad when I see juniors locked up in a stereotype way. I hope students can experience everything they want in their studies, career, and college life, as well as being free from the standards of other people. Jongin Lee: Until recently, I was also stressed because I wanted to achieve my goal as fast as I can. However, I think that trying to fulfill your goal in a short time is not always the best way. There are things that we need to enjoy in some moments of our lives, and I hope that we always live faithful to the present. Jungsoo Lee: I hope students enjoy their college life without worrying about what others think. If you start focusing on other people’s views, you may end up following advice that you do not want to follow. I think the most important key of college life is finding the answer of how you would like to live. Therefore, I hope everyone makes their own decisions according to their own values, without being disturbed by other’s advice. Hui Su Lee: Before coming to college, I too, had many concerns about college life. However, I think good results happen when you follow your own beliefs and work diligently. College life is surely more enjoyable than high school life, therefore I am sure you will gain good results when you happily do your job.
[MBA Success Stories] 10th Class of GMBA – Minhee Bae
“By motivation gained through CEO mentoring sessions, I was able to develop my career” MBA Career Success Stories Minhee Bae (10th Class of GMBA), IKEA Korea 1. Please briefly introduce yourself. My name is Minhee Bae and I'm a member of the 10th Class of GMBA. I'm on track to graduate this coming August and I have been working as a HR Specialist at IKEA Korea since July of this year. 2. What did you do before you entered GMBA? I studied finance and majored in International Business. Upon graduation, I worked at a global company, supporting international business activities of the firm, from which gathered overall knowledge and experiences pertaining to human resources. Before starting GMBA, I worked at the HR department of an American company after a M&A took place. After working with several managers, I realized how crucial a MBA degree was in acquiring the necessary leadership skills. 3. Why did you choose Korea University’s GMBA? It was not easy giving up a stable job to come back to school. Everyone around me recommended taking the MBA course that is offered in the evening. However, I thought this would put a limit to my learning experience. Furthermore, I deeply wanted some time to reassess my career plan and the quickest way of enhancing my professionalism. I believe MBA in Korea University has the capacity to compete at a global level when comparing to both domestic and foreign MBA programs. Not only does it have a great curriculum, but it also has globally renowned professors, as well as networking opportunities through CEMS network. Moreover, Korea University's unique culture of strong bond among alumni played a major role in my decision, as networking is a critical component of MBA. 4. In GMBA, which curriculum has helped your career development? Domestic and foreign professors' admiring lectures and case studies, as well as the IRP (International Residence Program) in Shanghai, China, and Barcelona, Spain, were extremely unique experiences. Also, the curriculum that allowed me to actually apply what I have learned to a real business was extremely helpful, especially the "business simulation" executed at module. This experience allowed me to team up with my colleagues and run a virtual business, managing operations, quality, R&D, finance, HR, and etc., not to mention how valuable it was for us to perform business planning based on the virtual market conditions and make decisions. 5. What was the most helpful coaching resource provided by KUBS Career Hub? Mock interview was the most helpful. The Career Development Center provided periodic mentoring and special lecture sessions led by either Korea University alumni or related CEOs, which constantly motivated me. This exposed me to true market conditions and helped me to develop a sense of where I want to take my career. 6 months before I graduated, I was participating in mock interview program with HR coordinators in global companies, which turned out to be very helpful as well. The feedback and the interview coaching from Career Development Center allowed me to perform at my full potential without getting nervous in the real interviews. 6. Do you have any advice for job seekers interested in the related field? I learned the value of connecting and cooperating through the GMBA program at Korea University. The synergy that derived from cooperating, studying, and discussing with my colleagues with various backgrounds and nationalities will forever be useful and I will always take pride in the fact that I graduated from the GMBA program from Korea University. In my case, I tried to connect what I learned in school with the real world, which allowed me to naturally develop new thoughts and values that I missed out on as a college student back when I was pursuing my BA degree. Moreover, now that I am back at work, it turns out the principles and cases that I was exposed to during the GMBA program became the foundations for applying new ideas in the real world. By utilizing the competitiveness and influence of the GMBA program, I hope everyone can further develop their career and rise up to the decision maker level.
Interview with Entering Class of 2015 MBA Valedictorians
Interview with Entering Class of 2015 MBA Valedictorian Finance MBA Valedictorian Woo Joo Yang (10th Batch) 1. What does it feel like to be Valedictorian? I want to thank Korea University for giving me an opportunity to be in the FMBA program and to KEB Hana Bank where I work. I also would like to thank my FMBA colleagues and my wife who have always supported me. As I completed each module diligently, I was able to produce exceptional results. Achievements earned from FMBA program will be the good ground for my career. 2. What were the keys to become Valedictorian? Firstly, I think it was my passion for learning. After 10 years of working, I was desperate to have an opportunity to systemize my experience at a bank through learning and then utilize my knowledge when I return to work. Thus, my motivation was clear. Secondly, my CFA certificates that I obtained previously were a big help. A CFA certificate is specialized within the fields of finance and accounting, which is was very similar to the MBA curriculum. Lastly, my work experience at a bank also helped me greatly. I suggested my thoughts and proposal ideas of Korea’s finance industry during the team project. My work experience served as the foundation of working in a team. 3. What is the most memorable experience during Finance MBA? I would say the IRP program, especially when I took the course related to risk management at NUS. Although I went through some difficulties, it is a valuable moment which I cannot easily experience. In addition, I was able to learn the current position of Korea in global financial market by visiting a financial institution in Hong Kong. 4. What did you learn from Finance MBA? Through the FMBA program, I have developed expertise in finance and accounting along with my CFA certificates. Not only I learned academic theories by taking courses, but also felt a sense of achievement through projects with my teammates from various backgrounds. 5. Do you have any advice for the upcoming FMBA freshmen? Because the following program is specialized in finance and accounting, the new students may have difficulties keeping up with the program. However, if you have a passion to study and spend time on it, eventually you will be able to pave your own path. As you actively share your opinions in the team project, you will find yourself growing. Lastly, it is important to keep in touch with your colleagues, alumni and professors and build a network to support each other. Global MBA Valedictorian Jiwon Woo (10th Batch) 1. What does it feel like to be Valedictorian? I would to like thank those of you who always supported me to complete Global MBA Program. The past year was necessary for my long-term career, and it was a meaningful time for me to meet precious people who will last a lifetime. 2. What were the keys to become Valedictorian? I believe it was my strong will for learning. Although I was not a typical exemplary student, I completed my assignment diligently with responsibility. Since I chose this program for my self-development and long-term career, I set high goals and did my absolute best. I always endeavor to produce better results than my goals. 3. What was your motivation to start GMBA? I thought an MBA program was the most necessary program for me to reach my ultimate goal of working in the field of strategic consulting. The GMBA curriculum, which all courses are offered in English, was a perfect fit for those wishing to become a global talent. Furthermore, the best part of this program is that I have a chance to build a network with students from various countries. 4. What did you learn from GMBA? The GMBA was a great opportunity for me to overcome fear of numbers. When I was a student, I avoided taking courses related to numbers. I thought this could possibly be an obstacle for me to become a business leader in the future. Therefore, I decided to major in Finance. Thanks to the GMBA program, I was able to overcome fear of numbers. It helped my consulting career as well. 5. Do you have any advice for the upcoming GMBA freshmen? I hope you will make unforgettable memories through this MBA program, which is an once-in-a-lifetime opportunity. The professors with excellent lectures, GMBA colleagues and alumni have always planted a deep insight in me. Now when I look back, there were many events occurred, such as orientation session and commencement ceremony. I personally think all of my times at KUBS were meaningful, and I hope you all learn many things from the GMBA. Take an advantage of this opportunity and enjoy it.
Alumni Interview: Iljin Group CEO Sang Il Lee (Commerce, ’57)
KUBS Alumni Interview — Sang Il Lee (Commerce, ’57), Chairman of Iljin Group “One with professionalism and positive attitude can succeed” Q: Iljin Group is leading the field of wheel bearing with its innovative technologies. Tell us about the company’s vision and your business philosophy as Iljin Group reaches out to the world beyond Korea. The three core values for Iljin Group’s corporate culture are “creative spirit,” “teamwork,” and “make it happen.” With that being said, our company supports all employees, so they can collaborate to achieve goals based on their insights. A company can stay in business with its results and profits. In order to bear fruits in management, the company shall ensure its competiveness in the market by producing excellent goods in various aspects, such as technology, quality, price, etc. Iljin Group is leading the world’s wheel bearing market with the global market share of 30%. Our major clients are world-class automobile companies, including Hyundai Motor Company, Kia Motors, BMW, Ford, Renault, VW, PSA, FIAT, Mercedes-Benz, Chrysler, GM, TESLA (manufactures electric vehicles), etc. Since the initial stage of Iljin Group, I had a goal and confidence to produce goods with global competiveness, rather solely focusing on the domestic market. I believed that providing excellent products at the lowest cost would lead our company on the path to success in the global market. Because wheel bearing is an essential part of an automobile, it is important to guarantee its best quality with securing the stability. I must say it was not easy to penetrate the market due its high price and quality; however, under the company’s management philosophy “make it happen,” I did not give up. With a sense of duty, I constantly invested in research in order to be recognized as the most important quality. Iljin Group currently has research facilities in the United States and Germany. Professional technicians in Korea and overseas cooperate together to enhance the cost competiveness by increasing the automation rate using robots, sensors, and computers. The Quality Assurance Team is responsible for product manufacturing and delivery, while satisfying customer needs. Q: Many students are trying to start their own business nowadays. You have made a meaningful donation for the KUBS Support for Business Start-Ups. KUBS, my alma mater, has been recognized as the best in Korea according to various performance indexes in Korea and abroad. And now KUBS is making progress to be recognized by the world beyond Korea. I am extremely proud of the accomplishments of my alma mater. Until the development of KUBS with its 110-year history, there have been numerous deans of KUBS, professors, including former KU President Yoon-dae Euh, who have played a major role. With these professors, KUBS produced talented individuals leading Korea. Also, because of our alumni’s love for KUBS juniors, students have access to study in the superior educational facilities. A number of world’s distinguished universities strive to improve their start-up education. As I, too, was able to advance into the global market by starting my own business, I believe that start-up education is necessary in order to change the economic paradigm of Korea. I decided to donate the funds to develop my alma mater in a successful direction and to support our students become entrepreneurs who demonstrate their abilities to lead Korean economy. I hope KUBS Start-Up Center, which will be completed in September, will foster entrepreneurs with integrated thinking. I am confident that students will have more chances of success by challenging themselves, rather than being afraid of failure. Q. What are some virtues that students desiring to start their own business shall improve during their studies? Please give words of advice to KUBS students. I would like to emphasize two virtues: “professionalism” and “positive attitude.” First of all, it is imperative to build your own professionalism. Developing professionalism with insights will help students become global leaders fitting the trend. Once students have made a decision on their business item, they should aim high to become the best in the world. In addition, they should think on their feet to be one step ahead in the market. Positive attitude is also extremely important. One who only has knowledge cannot become a great leader. Nothing can be accomplished alone. You should endeavor to earn the respect and recognition from your co-workers while working together. One with positive attitude can win the hearts of clients. If you always behave modest and humble, you can become a wise entrepreneur. I will always support our KUBS students on their journey of becoming a great entrepreneur with a warm heart who thinks carefully but act boldly.
[2015 MBA Graduate Student Interview] The top graduate of FMBA, Young Jin Kim
Q. Congratulations on being the top graduate of FMBA program I would like to thank professors, staff members, FMBA graduates, other colleagues, and my family who have constantly supported me to achieve this excellent result. The FMBA program has not only built my long-term career plan, but also has given me an opportunity to improve myself throughout the past year. Q. What are your keys to success of becoming the top graduate of FMBA? My proactive attitudes produced such great outcomes. I tried my best to lead the team while performing the numbers of case studies and team projects. In addition, participating classes enthusiastically by reading lecture materials and organizing the list of questions beforehand is another key to receive positive evaluation. For those who are non-business majors, I highly emphasize that it is critical to prepare and review the notes from the previous lecture before class starts. Q. What do you remember the most during your FMBA? I remember vividly every moment of my FMBA journey. If I had to choose one, I would say “International Residence Program.” Studying at the National University of Singapore and Wharton School was extremely new and exciting. Also, I was able to cultivate the business acumen by visiting financial institutions in Hong Kong and New York. Lastly, I cannot forget the memories of my warm-hearted colleagues who helped me when I was injured during IRP. Q. What have you gained after completing one-year course of FMBA? I am currently in the hiring process and have a good feeling about it. Knowledge that I have gained from FMBA program has allowed me to view the entire financial market, as well as thinking globally. In addition, I am confident that students and alumni of Korea University will have access of professional networks and become an asset in the financial sector. Q. Do you have any advice for upcoming FMBA students? Set two or three goals for each module and devote your full attention to the studies. You will find yourself growing after a year. At the same time, I encourage students to participate actively in various events, such as MT, Ko-Yon games, athletic meetings, CDC program and cherish those moments while building your professional networks of MBA colleagues. A year is much shorter than you think. Do your best without regrets. I wish you a good luck in achieving your ultimate goals and success.
[2015 MBA Graduate Student Interview] The top of graduate of GMBA, Vincent Lee
Q. Tell us your impression of being named as the top graduate of GMBA program. Professor Se-Joon Hong told us at the very beginning that there is a reward for the top graduate of GMBA and consequently, I worked very hard to achieve it. There is no way however, I could have achieved this position without the help of my friends I worked with on school projects, and as such I am very grateful. Q. What did you mainly focus on to achieve this title while attending school? Our program is very intense with 8-week long courses. There are a number of assignments during those eight weeks with midterms and finals. This busy schedule keeps you constantly focused on the short-term goal of performing well. Q. Why did you choose Global MBA program 2 years ago? I chose it because of the school’s reputation as the top business school as well as the school’s strong alumni network. In addition, the program was only one year versus the standard two-year schedule in America. Q. How was your life as a student of Global MBA? I enjoyed socializing with diverse groups of people and many international as well as Korean graduate students. In addition, I tried to meet many people outside of our program. Life as a GMBA student is not an easy journey but it was very gratifying. Q. Which curriculum of Global MBA was helpful in your career? I wanted to focus on the areas where I was weaker. The most valuable classes I took were twofold. The first was Business Communication, where Professor Silvia Kozlovska helped me become much more confident in front of larger audiences. The second class was Uncertainty, Data & Decisions. Professor Byung Cho Kim made a highly analytical and data intensive class by emphasizing the valuable insights derived from the numbers. Q. Do you have any advice for your juniors who are studying at KUBS? Enjoy the program. Classes and grades are important but what’s more important are the relationships you build here and outside. I would encourage students to focus in class, work efficiently in groups, and with this efficiency, use your precious free-time well.
Until you can turn that passion into reality, Follow your passion!
Jennifer Pak, a recent undergraduate alumna at Korea University Business School, is a fall 2013 participant in the White House Internship Program. Throughout her undergraduate career, she completed internships at Bank of America Merrill Lynch Investment Banking in Seoul Finance Center and at a marketing company in Los Angeles, California. While attending school, she worked as a freelancer Reporter and VJ for KBS World and Arirang TV, and volunteered for various service projects. Before she transferred to Korea University, in 2009, she led up to 40,000 students into cheering as the Head Female Captain of Yonsei University Cheerleading Team, AKARAKA. When she graduated from business school in the spring of 2013, she worked as a CSI Executive for Mercedes-Benz Korea Ltd in Seoul Square Building. Q. How are you able to get the opportunity to work at the White House? I learned about the White House Internship Program after leaving Mercedes-Benz Korea Ltd. to pursue a different career track. I have always wanted to see what it was like to be on the other side; to be working in the public sector. I had never been exposed to politics and thought the White House would be an opportunity for me to see what it was like to work in the government. The timing was right so I took the initiative to apply for this internship. Q. What did you prepare to be an intern at the White House? The selection process is competitive, but I highly recommend that anyone with an interest in public service consider applying. However, in order to be eligible for the White House Internship Program you must be a United States citizen. The online application requires one essay, one policy memorandum, 2 letters of recommendation, a resume, and a series of short-answer questions. I was accepted and assigned to the Office of Management and Administration. Being prepared is half the battle. Just like any other job interview preparation, I wrote out a list of potential interview questions, planned out my responses ahead of time, received some feedback, and did a mock interview. The best way to nail any interview is to practice, practice, and practice. Of course, I could not have gone through this without my recommendations, Korea University Business School Service Marketing Professor Janghyuk Lee and Bank of America Merrill Lynch Director and Korea General Counsel James Lee. Q. Which curriculum of KUBS was helpful? In spring 2011, I transferred to Korea University Business School as an undergrad. Some of the courses I personally enjoyed were Service Marketing, Venture Business, Process Innovation & IT, Principals of Corporate Finance, Information Security, Advertisement Management, Business Negotiation, and Business Strategy. Although our Business School is known for its numerous hours of tedious group projects and meetings, PowerPoint presentations, and HBS article analysis, it all taught me life lessons that helped me prepare for real life interaction the real world. After graduating, I realized that public service has shaped all aspects of my life at the university, friendships, person al growth, academic learning, and cultural experiences. I learned that there are no limits to service and every project expands not only to your knowledge but your heart, because of many of the wonderful people you meet. There is no price to place on these valuable experiences. Q. Advice for your juniors who are studying at KUBS. I had a friend who once asked me, “Jennifer, do you know what the longest distance in life is? It’s from your mind to your heart. But do you know what the most difficult path in life is? It’s from your heart to your feet.” He’s right. It is easier to talk than to do. Start networking. Build relationships. Gain work experience. Don’t be afraid to ask questions. Don’t trap yourself. Don’t scoff at the life choice of people around you. Be genuine. Be humble and always smile. Most importantly, follow your passion until you can turn that passion into reality. -Jennifer Pak, KUBS 06
Lots of birds with just one stone
Lots of birds with just one stone - Studying abroad at KUBS - Studying abroad at Korea University Business School is arguably the best decision I’ve made while completing my degree. KUBS has created a first-class academic program that is built upon the school’s engaging faculty, accommodating facilities, and extensive print and electronic resources. Outside of classes, exchange and international students can join a variety of clubs and organizations. KUBS Buddy is a social club specifically designed to connect foreign business students with their Korean counterparts. They host official events each month, but there are also plenty of opportunities for unofficial get-togethers. KUBS embraces the global mindset that Korea University as a whole advocates. All study abroad programs give you a chance to experience life in another country, but KUBS stands above the rest by making foreign students feel that they are truly an important part of the university community. Coming from a top American business school, I can say with confidence that the professors at Korea University are some of the best around. During my semester at KUBS, I had the privilege of taking an International Business course taught by Professor Jungbien Moon. The class revolved around student presentations, which encouraged interaction and discussion among students, leading to a much more valuable learning experience. Out of the dozens of professors I’ve had at university, Professor Moon ranks among the very best. Along with being incredibly well-versed in his area of expertise, he was an effective and engaging teacher. All of my professors at KUBS placed a heavy emphasis on teamwork and discussion which was a refreshing change of pace from the monotonous lecturing that undermines too many undergraduate programs. To assist in getting the best possible experience academically, KUBS has recently constructed two additional facilities: LG-POSCO and Hyundai Motor Hall. Together, they house most of the classrooms and study areas available to business school students. Whether you are looking for a quiet nook to read in or a comfortable lounge to talk with classmates, there are plenty of options from which to choose. In particular, Hyundai Motor Hall has dozens of spacious breakout rooms with monitors and white boards for group presentations and collaboration. The business library, located in LG-POSCO, is the quietest place to study, with access to textbooks and business publications, both print and electronic. It was also my number one stop each morning for a free copy of the Wall Street Journal so that I could keep up to date on global events. I shouldn’t forget to mention that both buildings are not only functional, but absolutely beautiful as well. It makes studying for finals a little less stressful when you can sit back and appreciate your surroundings. While studying is always necessary at university, when you’re abroad cultural exchange is just as important, if not more so. In the end, these programs are designed to foster connections between people from different countries, and it would be a shame to not take advantage of these opportunities. As I mentioned earlier, KUBS Buddy was created to give you chances to build friendships with Korean students, and KU in general has its own buddy program that operates in similar fashion. There are also clubs for activities ranging from dance, to hiking, to a variety of sports. I was part of the archery club during my semester at KU, and it was an awesome way to meet with students who weren’t directly involved in the international program. If I could offer one piece of advice, it’s to do whatever you can to break out of your comfort zone and meet Koreans and people from countries besides your own! Studying abroad is a once in lifetime opportunity, and you would be hard pressed to find a better host university than Korea University. Evan Kollath Tulane University Class of 2015 Exchange Student at KUBS in Spring 2014
Global KUBS is growing and one of the reasons is the high satisfaction of the exchange students. KUBS also offers interesting lectures by national and international guest speakers. I was impressed by my chance to attend a lecture by the CEO of Yahoo! Korea. I don't know exactly what I am going to do in the long-run, but I know I will come back to Korea, at least to visit the friends that I have made here. -Derek Willis, Univerisity of Kentucky, USA -Exchange Student
Friendly Support for International Students
I chose KUBS because I aimed to acquire a broader knowledge of Korean culture and to learn new approaches to different issues. I was amazed by the open-mindedness and helpfulness of Korean students. KUBS also makes vigorous efforts to strengthen its international image. I greatly appreciated the friendly support for international students. -Benjamin Robinet-Perrin, Audencia nantes, France -Exchange Student
Passion of Ko-Yon Games
KUBS has a very good reputation and offers a wide range of classes in English. I was satisfied with all the lectures and facilities at KUBS, but the most exciting experience that I had at KU was Ko-Yon Games. Everyone was in and we became one under the name of KU. I was thrilled at that moment and felt like one of the Red Devils ( the famous Korean soccer boosters). I don't think I can forget the passion that I felt from the Korea University students. -Martina Maul, University of Mannheim, Germany -Exchange Student
Professor Anat Zeelim-Hovav Ranks in the ‘The Citations of Excellence Top 50 Papers
Professor Anat Zeelim-Hovav has been serving as an MIS professor at KUBS for 8 years. Professor Anat was one of the first to specialize in an integrated Security and Business Administration research area and, in the academic world, she is already recognized as an expert in the field. Professor Anat’s recent paper, ‘User awareness of security countermeasures and its impact on information systems misuse: a deterrence approach’, which was featured in the Emerald Management Reviews, was ranked in ‘The Citations of Excellence Top 50 Papers’, contributing to raising the status of KUBS in the international academic community. The was able to have an interview with Professor Anat on November 15th (Fri.) regarding her research and her time at KUBS.