Korea University’s MBA Admissions Open for Spring 2018
Korea University’s MBA Admissions Open for Spring 2018 Korea University Business School (Dean=Professor Soo Young Kwon) is now accepting applications for Spring 2018 MBA admissions. Three MBA programs that admit new students are △Korea MBA, △Executive MBA, and △Finance MBA. Korea MBA (KMBA) is a two-year, evening MBA program designed for the best working professionals in Korea and requires 45 credit hours of coursework. As the program runs in spring and fall semesters, it is ideal for professionals who work full time and want to earn an MBA degree. KMBA offers specialized majors such as Organization, Accounting, Finance, Marketing, LSOM, MIS, International Business, and Strategy. The application deadline for KMBA is October 25 (Wed) at 17:00. The MBA Admissions Board’s decision will be released on December 8 (Fri) at 15:00. Executive MBA (EMBA), designed to serve senior executive with a minimum of 10 years of significant professional experience, is a two-year weekend program (Fridays and Saturdays). While two program directors will be assigned to help students with their coursework, EMBA offers superb educational services including exclusive use of MBA classrooms and lounges. On the top of that, EMBA competes on the world stage. In fact, the program was ranked 24th in the 2016 World’s Top 100 Executive MBA Rankings, announced by Financial Times in the United Kingdom. The application deadline for EMBA is October 27 (Fri) at 17:00. The Admissions Board’s decision will be released on November 15 (Wed) at 15:00. Finance MBA (FMBA) aims to foster financial leaders who will lead the Korean financial industry. FMBA is a two-year, evening MBA program, and its classes are scheduled to meet two nights a week. Biweekly Saturday classes and summer and winter sessions are available as well. Students can learn finance and management theory from the best faculty in Korea, attend lectures delivered by financial experts from various fields, and pursue its well-balanced curriculum which combines theory and practice. The application deadline for FMBA is October 25 (Wed); 17:00. The Admissions Board’s decision will be released on November 27 (Mon) at 15:00. On September 20 (Wed), Korea University Business School will host the 2018 Admissions Information Session on the Seoul Campus of Korea University. The EMBA Information Session will be held at 19:00 in Ahn Young Il Hall of LG-POSCO Building while the KMBA Information Session is at 19:20 in SUPEX Hall of LG-POSCO Building. Lastly, the FMBA Information Session is scheduled to be held at 19:00 in room 202 of Hyundai Motor Hall. The admissions information session includes an introduction to KUBS and each program and a Q&A session. MBA admissions for Spring 2018 are available at https://bizapply.korea.ac.kr/en/. Any inquiries regarding admission can be directed to the Administrative Office of MBA Programs at 02-3290-5365. Click here to register for the Admissions Information Session (September 20) Click here to apply for MBA programs
Applications for Spring 2018 KUBS Graduate Admission Open
Applications for Spring 2018 KUBS Graduate Admission Open The application for Spring 2018 KUBS Graduate Admission will be open soon. The Department of Business Administration, which offers six major areas of specialization (△Management, △MIS, △LSOM, △Marketing, △Finance, and △Accounting), and the Department of International Business will admit new students. Applicants can apply for Spring 2018 KUBS graduate admission online via Korea University Graduate School's website (https://graduate.korea.ac.kr). Further information is also available on the website. The admissions information session will be held on September 15 (Fri) at 15:00 in room 433 of LG-POSCO Building. ※ Click the image below to register for the admission information session. The admission process for domestic and international applicants will be conducted separately. The online application period for domestic applicants will be October 10 (Tue) through October 16 (Mon) while international applicants can apply from September 11 (Mon) to September 22 (Fri). In addition, domestic and international applicants are required to submit hard-copy application items by October 18 (Wed) and September 29 (Fri), respectively. Applications and interview will be reviewed and conducted by an admissions committee of each department. The review period applies to both domestic and international applicants. The application screening process is from November 6 (Mon) to November 10 (Fri), and the interview will be held on November 11 (Sat). After this review process, admission decisions are scheduled to be announced on December 8 (Fri). Meanwhile, starting Spring 2018, international applicants are required to submit the online application and are invited for interview. However, a decision on whether or not to conduct an interview will made by the admissions committee of each department.
KU Achieved Highest Pass Rate on 52nd CPA Exam for 2 Consecutive Years
KU Achieved the Highest Pass Rate on the 52nd CPA Exam for 2 Consecutive Years On the 52nd Certified Public Accountant (CPA) Examination of 2017, Korea University has recorded the highest pass rate in the country, far outstripping other universities in Korea. This achievement reaffirms KU’s position as the best institute for nurturing certified public accountants, with the highest cumulative numbers for the past six years (2012 – 2017). According to reports by several accounting firms, KU has produced a total of 97 successful CPA candidates this year, which is the largest among universities in Korea. Yonsei University and Sungkyunkwan University tied for runner-up with 78 successful candidates each. Kyung Hee University (73 successes) came in third followed by Chung-Ang University (70 successes) and Hanyang University (65 successes). Based on the CPA exam results over the last five years, this is the second consecutive year for having a huge gap between first and second place. Although the number of successful CPA candidates has dropped slightly from 118 to 97, KU still produced 20 more than Yonsei University and proved itself as the top performer in the business field. There was a prospect KU would have the most number of successful CPA candidates this year, as it already achieved the highest pass rate with 180 successes in the first CPA exam. These laudable achievements were made possible by the support of the university. Korea University Business School (KUBS) runs a CPA prep program called “Jeongjincho (精進礎, Advisor=Professor Han Sang Yi) and throws full support behind students studying CPA. Moreover, Jeongjincho offers gathering events with alumni from accounting firms and various lectures. All KU students and graduates are eligible to participate in the events. Meanwhile, a total of 915 candidates passed the 52nd CPA Exam according to the Financial Supervisory Service. Out of 2,898 CPA examinees who took the second CPA exam from June 24 to 25, those who scored 60 or higher in all subjects have been selected as final successful CPA candidates.
Chaelynn Lee (Business, ’14) Awarded Highest Honor in World Miss University Korea
Chaelynn Lee (Business, ’14) Awarded Highest Honor in World Miss University Korea “I dream of becoming a global CEO” Chaelynn Lee (Business, ’14), an undergraduate of Korea University Business School (Dean=Professor Soo Young Kwon), was awarded “Ji,” the highest honor in the 30th World Miss University 2017 in Korea. World Miss University is an annually held world campus peace festival, aimed at selecting group of candidates to form a World University Peace Corps delegation. The event was organized to commemorate the 1986 UN’s resolution of celebrating the International Year of Peace. Students selected under each of the 3 categories in “Ji (wisdom),” “Duk (virtue),” and “Chae (body)” will join other students from around the world and serve as members in the World University Peace Corps. On August 30 at 6:00 p.m., the 2017 World Miss University in Korea was held in Theater Hall, Walkerhill Hotel situated in Gwangjin-gu, Gwangjang-dong, Seoul. To consolidate friendship among the participants, the 60 contestants partook in a 10 day bonding activity which took place from the 21st to the 30th of August. These activities included visiting Seoul National Cemetery, serving as honorary ambassadors to PyeongChang Winter Olympics holding charity sale, and visiting Sungkyunkwan University to have education in manners. They introduced themselves on the official webpage and various portal sites to showcase their talents varying in dancing, singing, and playing musical instruments. Lee was given the Peace Forum Award, and granted the title “Ji,” recognizing her as the most suitable candidate to serve as an envoy for peace. She dreams of becoming a global CEO, and she is fluent in English and French. Lee enjoys playing tennis and doing yoga. She is now qualified to compete in World Miss University which is scheduled to be held in Cambodia in December. “I did not expect to win first place but it is a privilege,” Lee said. “I will fulfill my dream of becoming a global CEO and be at the forefront of promoting world peace.” Meanwhile, Eun Hye Shin from Yonsei University Law School was awarded second place “Duk,” with Ha Young Lee from Ewha Womans University settling for third place, “Chae.
Retirement Ceremony for Professor Seoil Chaiy, Professor Jin Kyu Lee, and Professor Kwan Hee Yoo
Retirement Ceremony for Professor Seoil Chaiy, Professor Jin Kyu Lee, and Professor Kwan Hee Yoo Wishing all retiring professors a bright and blessed future On August 25 (Fri) at 6:00 p.m., Korea University Business School (Dean=Professor Soo Young Kwon) hosted a retirement ceremony for professors dedicated to nurturing the next generation of scholars for a long time. The retirement ceremony was held by KUBS to celebrate and honor the retirement of the professors who poured out their endless love and passion for KUBS. Three retiring faculty members — Professor Seoil Chaiy, Professor Jin Kyu Lee, and Professor Kwan Hee Yoo — and KUBS professors attended the celebration. KUBS Dean Soo Young Kwon said each of the three faculty members will be sorely missed. He remembered Professor Chaiy as “a living witness to the history of KUBS,” Professor Lee as “a leader in diverse fields,” Professor Yoo as “a mentor who taught complicated accounting theories at the level of students.” “Each one of you are the pride of KUBS,” Dean Kwon concluded. “As elders of KUBS, I have no doubt you will continue to play a pivotal role.” The retiring professors’ love and pride in the university stood out in their poignant farewell speeches. “I truly enjoyed my life as a professor. Being a professor was a true vocation,” Professor Chaiy said. “It has been my privilege and honor to serve as a professor of Korea University for a long period of time.” As Professor Chaiy was extremely empathetic towards students who had concerns about their career paths, he plans to provide job information and help map out a career path for students after his retirement. “I am currently finding a way to return the support I had received from Korea University,” Professor Lee said. “I will always keep in my mind that I was a professor of Korea University and will help people facing obstacles in varied ways.” “21 years and a half – I have spent one-third of my life at Korea University. I was able to look back on my journey I have walked through,” Professor Yoo said in his farewell speech. “I believe one of my talents is teaching, and after my retirement, I will strive to produce the next generation of scholars using my unique talent.” Meanwhile, Professor Seoil Chaiy, Professor Jin Kyu Lee, and Professor Kwan Hee Yoo joined the faculty of Korea University Business School in 1984, 1989 and 1996, respectively and retired from KUBS in August 2017. As of Fall 2017, the three professors will serve as professors emeriti and continue to contribute to the development of the university in different directions.
KUBS Futurum 2017 Asia Tri-lateral Seminar Launched
Korea, China, and Japan gathered to lead rapidly changing future society KUBS Futurum 2017 Asia Tri-lateral Seminar Launched On August 17, “KUBS Futurum 2017 Asia Tri-lateral Seminar” was successfully held at LG-POSCO Building. The seminar was hosted by Korea University Business School (KUBS) in conjunction with Peking University HSBC Business School (PHBS) in China and Hitotsubashi University in Japan. Launching its first-ever seminar at Korea University, the three universities will alternately host a seminar every year. The Asia Tri-lateral Seminar is the second session of the “KUBS Futurum,” a Future Forum event by KUBS, and an annual academic forum held every August. The seminar was organized to predict a future society affected by the fourth industrial revolution and seek a preemptive strategy to overcome barriers. The topic of this year’s Asia Tri-lateral Seminar was “Corporate Strategies in China, Japan, and Korea in the New Normal Era.” The seminar consisted of a presentation session and discussion session. The presentation session was conducted by Professor James Yen from PHBS, Professor Toshihiko Kato from Hitotsubashi University, and Professor Jon J. Moon from KUBS while the discussion session, opened to the audience, was led by Professor Jay Hyuk Rhee from KUBS, Professor Jiao Shi from PHBS, and Professor Fujiwara Masatoshi from Hitotsubashi University. The first presenter was Professor James Yen from PHBS who talked about “Transformation Strategies for Chinese Private Enterprises in the New Normal Era.” Professor Yen stressed on Chinese government’s grand strategy “one belt, one road (OBOR)” and “family succession plans” in Chinese private enterprises. OBOR comprises of two routes — the Silk Road Economic Belt that links China to Europe through Central Asia and the 21st Century Maritime Silk Road connecting Southeast Asia and Europe to Africa. “Under the Chinese government’s OBOR, Chinese private enterprises desire a successful transition from the founder to the second generation,” Professor Yen said. “Businesses such as energy and infrastructure in the OBOR project are appealing opportunities for second-generation successors to prove themselves as business owners.” After Professor Yen’s presentation, Professor Toshihiko Kato from Hitotsubashi University continued his presentation on “Organizational Obstacles to Effective Strategic Action.” He pointed out that creating and sharing a clear strategy among core members of a business unit through close communication and allocating responsibility for implementation of the business unit’s strategy to each member are the ways to construct an effective organization. “Dubious delegation seasoned with irresponsibility brings organizational malfunctions in the business unit,” Professor Kato said. “The most effective method is to make subordinates participate in formulating a corporate strategy.” The last presentation, titled “Strategies under Low Growth and High Geopolitical Risk,” was delivered by Professor Jon J. Moon. “Japanese firms’ active international diversification strategy helped escape from the low-growth economy,” Professor Moon said. “Toyota successfully overcame the decline in domestic sales by carrying out its aggressive international diversification strategy in 2000s.” He asserted that Korean firms should integrate more into Chinese markets as they are facing geopolitical risk with the tension between the U.S. and China. For instance, although South Korean company Lotte suffered sales loss in China due to the deployment of the THAAD, its sales, in fact, have been sliding for years. “If Korean firms want to survive in China, they have to deeply engage in its markets by implementing corporate social responsibility activities and playing as a bridging role for Chinese companies to enter Korea,” Professor Moon added. “I would like to thank Professor Wen Hai, Dean of PHBS, and Professor Toyohiko Hachiya, Dean of Hitotsubashi University for their boundless support of the Asia Tri-lateral Seminar,” KUBS Dean Soo Young Kwon said, wrapping up the seminar. “I hope this seminar will allow us to continue our partnership and share knowledge so that the three universities representing Asia will be able to predict and lead our rapidly changing future society.”
“The 5th KUBS Teen Mentoring Day” Successfully Held
“The 5th KUBS Teen Mentoring Day” Successfully Held The Major Experience Program incorporates special lecture on Business Administration and mentoring session…Nearly 80 high school students across the nation attended On July 29, Korea University Business School (Dean=Professor Soo Young Kwon) hosted the 5th KUBS Teen Mentoring Day. 82 high school students who wish to study business in college participated in the event and seven members of KUBS Student Ambassador Program (KUBE) volunteered as mentors. The mentoring program, which is held at the end of every school term, is free of charge for high school students aspiring to become the next generation of entrepreneurs. ▶ Click here to view photos ◀ “Many entrepreneurs and CEOs who graduated from KUBS studied in this space where you are sitting,” said KUBS Associate Dean Jaehwan Kim in his welcoming remarks. “I hope each and every one of you will be able to establish your vision as entrepreneurs through this program.” The program consisted of △Introduction to KUBS Life and Business Administration, △KU Campus Tour while completing given tasks, △Taster Lecture by KUBS Professor, △Business Administration Practice (Analysis and Marketing Strategy for Products and Brands) with KUBS mentors, and △Career Counseling Session with KUBS students. Professor Weon Sang Yoo delivered the taster lecture. He explained the different concepts related to marketing, delving on what comprises good marketing, bad marketing, and eccentric marketing and produced a thought provoking lecture aimed at increasing students’ understanding of marketing principles. In the following “Business Administration Practice,” students drew on the marketing principles they learned from the previous session to analyze brands and construct marketing strategies. They worked with their mentors and KUBE to apply the principles and produce creative ideas. “The lecture and practice really helped me get a better grip on marketing concepts,” said Cho Eun Seol (2nd-year student of Apgujeong High School), one of the participants. “Working with our mentors and cooperating with other team members was a really rewarding experience.” KUBS plans to continue its mentoring program every school break to help students map out a career path and support their academic plans.
KUBS Hosts “KUBS Futurum – Asia Tri-lateral” Seminar
KUBS Hosts “KUBS Futurum – Asia Tri-lateral” Seminar On August 17 (Thu), Korea University Business School (KUBS) will host the Asia Tri-lateral Seminar. The Asia Tri-lateral Seminar, the second session of the “KUBS Futurum,” is an academic seminar held annually in August. The session is jointly run by Peking University Shenzhen in China and Hitotsubashi University in Japan. This year’s first-ever seminar will be hosted by KUBS. The theme of the seminar is “Corporate Strategies in China, Japan, and Korea in the New Normal Era.” As the world is entering a fourth industrial revolution while slipping into a period of sustained low economic growth and uncertainty, the participating universities will gather to analyze how companies in the three countries are overcoming barriers. The seminar is meaningful in that China and Japan, which are deeply tied to Korea economically, share strategies for a future society. Specifically, the ultimate goal is to deliberate upcoming issues that may impact the world economy and companies and to offer insights from the point-of-view of business scholars from Korea, China, and Japan. “The world is mired in a low-growth slump, and it is difficult to predict how our future society will evolve due to the interest rate increase, currency fluctuations, and rapid development in ICT,” said KUBS Dean Soo Young Kwon who will be hosting the seminar. “The seminar will be jointly steered by the best universities in Korea, China, and Japan along with distinguished scholars across the world. Your interest and participation are greatly appreciated.” In the meantime, the KUBS Futurum, which means future in Latin and is a compound word made up of “Future” and “Forum,” consists of △Lecture Series, △Asia Tri-lateral Seminar, and △Business and Economic Outlook.
Summer 2017 KUBS Evacuation Drill Held
Summer 2017 KUBS Evacuation Drill Held On July 11 (Tue) at 10:00 a.m., Korea University Business School (KUBS) carried out an evacuation drill that lasted 15 minutes in all three of its buildings. In order to smooth its efficiency in response to natural disasters, KUBS has been regularly holding evacuation drills every semester. As the alarm rang with the announcement, saying: “A fire has been reported in your area. Please evacuate the area,” professors and students filed out through the emergency exit and onto the field in front of KUBS Main Building. To create a real life situation, the staff employed a gas producing “fog machine.” The staff members in orange vests ensured the smooth running of the drill. “I heard the announcement in my office,” Chang Ui Hong (Business, ’14) said. “I was startled but the staff members helped me cope with the situation.” “The purpose of an evacuation drill is to establish a response system in the event of natural disasters,” KUBS Dean Soo Young Kwon said. “We are trying to raise the students’ awareness of the urgency of relevant situations and prevent fire by regularly holding drills.”
[KUBS Startup Institute: Lecture on Demand #3] “Ideas and Understanding of Distribution Industry Are Essential for Startups” – Special Lecture by Idea Audition CEO Kwang-Ho Kim
[Lecture on Demand #3] Idea Audition CEO Kwang-Ho Kim “Ideas and Understanding of Distribution Industry Are Essential for Startups” On May 30 (Tue), Idea Audition CEO Kwang-Ho Kim delivered a lecture at KUBS Startup Station. Idea Audition, Korea’s No. 1 idea platform, shares ideas and helps with development, production, and distribution of major ideas. “An era is approaching where everyone has to start their own business once in a lifetime,” CEO Kim said explaining his motive behind starting a business. “I decided to run my own business to create a platform that helps with idea development of new products and hardware manufacturing.” According to CEO Kim, many small and medium-sized companies develop new products with the support of the government; however, the actual distribution rate is lower than 1%. “Even with exceptional high-tech functions, tech startups are unable to sell their products if they fail to go through distribution channels,” CEO Kim added. “A general understanding of distribution industry is required in order to deliver products to customers.” Idea Audition supports entrepreneurs convert their incredible ideas into a reality and reach consumers. Moreover, it also forms a community to offer services from idea creation to various feedback. “What consumers really want is to eliminate inconveniences, not high-tech functions,” CEO Kim advised. “Rather than aiming for a large market, develop a product that you can target a niche market by finding how everyday inconveniences can be resolved.”
Professor Sang Yong Kim Received Academic Contribution Award in 2017 Consumer Loving Brand Awards
Professor Sang Yong Kim Received Academic Contribution Award in 2017 Consumer Loving Brand Awards Sang Yong Kim, a professor at Korea University Business School (KUBS), received Academic Contribution Award in the 2017 Consumer Loving Brand Awards, hosted by JoongAng Ilbo Economist and sponsored by the Ministry of Trade, Industry and Energy and the Ministry of Agriculture, Food and Rural Affairs. Beginning in 2011 and marking the seventh anniversary, the award ceremony has been held annually to select companies and individuals who have significantly contributed to distribute healthy brands to the Korean markets. Currently serving as president of the Korean Marketing Association, Professor Kim was honored with Academic Contribution Award in recognition of his contributions to connect academia, industry, and society in one. The Korean Marketing Association is the most prestigious academic association in its field where professors of Marketing and nearly 1,000 researchers across the nation are registered as members. In addition, Professor Kim published 11 books, 2 translated books, and 55 research papers in the renowned journals in Korea and the world. He has made remarkable achievements academically and produced outstanding performance in marketing research. Professor Kim was involved in a variety of channels to help public easily understand marketing and business by △hosting a radio program “KBS1 3-minute Radio MBA” for self-employed (2012) and △publishing “Marketing Keywords 101 (2013)” and “Business Keywords 101 (2016).” Professor Kim is currently △president of the Korean Marketing Association, △program director of KUBS Advanced Management Program (AMP), and △member of Seoul Gangnam Tourism Promotion Advisory Board. At Korea University, he served as △Vice President for Development and External Affairs and △Associate Dean for MBA Programs. View Related Article [중앙일보] 학계·산업계·사회 연결 노력으로 학술공헌상 수상
KUBS Signed International Partnership Agreement with Washington University in St. Louis
KUBS Signed International Partnership Agreement with Washington University in St. Louis On June 16 (Fri), Korea University Business School (KUBS Dean=Professor Soo Young Kwon) signed an international partnership agreement with Olin Business School at Washington University in St. Louis (Olin), situated in Missouri, United States. Marking the 60th anniversary of the “Washington University Project,” which contributed to the development of Korean business studies in the past, the agreement was signed again for the first time in 60 years. △Olin Dean Mark Taylor, △Chief of Staff Jessica R. Martin, △KUBS Dean Soo Young Kwon, △Professor Emeritus Dong Ki Kim, △Professor Emeritus Yoon-dae Euh, △Professor Emeritus Joon Bum Lee, △Professor Emeritus Ik-soon Cho, and △Professor Emeritus of Yonsei University Ki Young Kim attended the occasion. The scope of the partnership includes academic exchanges such as △Student Exchange Program and △Joint Research Projects and Seminars. Each school can send up to ten students per year to study abroad at the other school. Exchange students can stay one semester and may request to stay up to one year. “I have no doubt that both schools will actively interact and strengthen partnership through this agreement,” Dean Kwon said. “Just as Korean business education developed tremendously thanks to the Washington University Project 60 years ago, I hope we will be able to develop something new through these academic exchanges.” ▲ Olin Business School Washington University in St. Louis (WUSTL) established a business school in 1917. The business school was named in honor of John M. Olin and in recognition of a gift from the John M. Olin Foundation. Olin has a total of 135 full-time faculty members and is ranked 22nd in the UTD Top 100 Business School Research Rankings, an indicator that evaluates faculty research performance. Meanwhile, WUSTL contracted the “Washington University Project” to cooperate with Korea University and Yonsei University to develop business education. This contract was in line with the technical assistance program by the International Cooperation of Administration (ICA) in 1957. Accordingly, more than 10 WUSTL faculty members were sent in Korea and made a contribution to the progress of the Korean business schools. Any inquiries on the Student Exchange Program can be directed to KUBS International Office (email@example.com). View Related Articles 현대 경영학 도입의 60년 역사, ‘워싱턴대 프로젝트’ 60년이 흘러도 생생한 워싱턴대에서의 생활 - 유세환, 이준범, 조익순 명예교수 인터뷰
“KUBS Futurum,” Future Vision Proposed by KUBS
“KUBS Futurum,” Future Vision Proposed by KUBS Korea University Business School (KUBS) has launched “KUBS Futurum,” an annual forum on the topic of the future. The KUBS Futurum, which means future in Latin and is a compound word made up of “Future” and “Forum,” consists of △Lecture Series, △Asia Tri-lateral Seminar, and △Business and Economic Outlook. The KUBS Futurum aims to discover, ponder, and offer insights into the future issues that Korean society and economy will confront. Under the slogan “KU-the Future,” signifying that KU will open, lead, and make the future, Korea University has been exerting its utmost efforts to nurture talents for the future society since 2015. Every May, the Lecture Series brings in world-renowned figures to share their insights. The session is intended to keep up with the latest trends on changes in a future society and to discuss about the outcomes of those changes. The Asia Trilateral Seminar is held every August in conjunction with Peking University in China and Hitotsubashi University in Japan. The purpose of the session is to share strategies for the fourth industrial revolution with China and Japan, which are deeply tied to Korea economically. This year’s seminar is titled “Corporate Strategies in China, Japan, and Korea in the New Normal Era.” In December, KUBS and the Department of Economics will jointly run the “Business and Economic Outlook.” Although a number of institutes in Korea and abroad release the microeconomic outlook, there is no single institute that provides specific outlook by industry. Hence, KUBS and the Department of Economics plan to publish a prospect report, covering quantitative outlook by sales, revenues, and investments of each industry. Reports will be released at an open seminar held in every early December and distributed online for free. “The KUBS Futurum will provide the opportunity to examine the fourth industrial revolution, which elevates uncertainty for the future, and to find directions for humanity to steer,” KUBS Dean Soo Young Kwon said. “I hope you will be able to learn how companies facing Intelligence Society will transform and also how the Korean economy can survive in this rapidly changing environment. In addition, this forum allows intellectuals to assemble and think about what entrepreneurship is.” Any inquiries regarding the event can be directed to the KUBS Futurum Office at 02-3290-1306. Related Article “All Robots Fall Down; Do Not Fear Failure and Keep Challenging Yourself” – Special Lecture by Dr. Dennis Hong
“The Washington University Project,” A 60-year History of the Introduction of Modern Business Administration
“The Washington University Project,” A 60-year History of the Introduction of Modern Business Administration Korea University and Washington University in St. Louis…The 60-year anniversary of the business education technical assistance agreement Korea University (KU) and Washington University in St. Louis (WUSTL) celebrated 60 years of their partnership. The beginning of the “Washington University Project” dates back to 1957. After the signing of the armistice agreement, the United States proposed a measure to provide technical education assistance focused on private universities including KU (then-President Jin-Oh Yoo) and Yonsei University (then-President Nak Jun Baek). In 1955, as the technical assistance for business education was being reviewed in earnest, the foundation for the “Washing University Project” was established. Five WUSTL professors arrive in Korea in 1958. From left to right: Merle T. Welshans, Charles L. Lapp, Powell Niland, Sterling H. Schoen, L. J. Buchan (Photo provided by WUSTL) The objective of diplomatic relations between the two universities was “the introduction of modern business administration.” Korea, at the time, was in desperate need of reconstructing its economy through business education as it had been destroyed by the Korean War. Ross M. Trump, then dean of WUSTL’s business school, visited KU on November 17, 1957. The purpose of his visit was to examine Korea’s business management level and to see whether Korea was able to incorporate modern business administration. In December that year, Dean Trump signed a contract between the U.S. Department of State and the two Korean universities in order to assist business education. Finally, in February of 1958, the Washington University Project was launched. From 1958 to 1946, professors from the Washing University’s Olin Business School (Olin) were sent to Seoul. They were responsible for △counselling educators, △demonstrating new education styles, △creating curriculum, and △building a business library. Several professors from Korea University’s College of Commerce were also sent to WUSTL. △Soon-Shik Kim, △Haeng-Kwon Kim, △Hyo-Rok Kim, △Chang-Hwan Sung, △Se-Hwan Yoo, △Byung-Wook Yoon, △Joon-Beom Lee, △Soo-Young Jeong, △Ku-Yeon Cho, and △Ik-Soon Cho (in the order of the Korean alphabet) took part in business classes and received MBA or doctorate degrees at WUSTL. “This project was one of the most honorable achievements in Olin’s history,” said Professor Bob Virgil, who was in charge of operating the program at the time. “In fact, it was the most significant achievements in all of WUSTL’s history.” The visit to WUSTL by KU professors was effective as it led to a reorganization of curriculum, the establishment of an evening graduate school program, and the publication of a business newspaper. KU played a vital role in providing business administration education to universities in Korea by developing courses, improving teaching methods, and publishing business administration teaching resources. Although the College of Commerce was already four years ahead of Yonsei University in setting up a department of business administration in April 1955 and recruiting new students to provide business education, the education content and environment gap between the two universities grew even further due to the introduction of the Washington University Project. In particular, the establishment of the Institute for Business Research and Education (IBRE) and the Graduate School of Business Administration is evaluated as having played a critical role in providing business theories and practical education to industries in Korea. Faculty of the College of Commerce took part in IBRE and gave consultations to government agencies, public enterprises, and private companies. WUSTL has also sent exchange professors to provide education aid to IBRE. The Graduate School of Business Administration, which educates middle-level executives, brought direct transformation to university-level business education content. Related Article 60년이 흘러도 생생한 워싱턴대에서의 생활 - 유세환, 이준범, 조익순 명예교수 인터뷰
KU Ranks No. 1 in “MBA Evaluation by HR Managers from the Top 200 Companies” for 5 Consecutive Years
KU Ranks No. 1 in "MBA Evaluation by HR Managers from the Top 200 Companies" for 5 Consecutive Years It comes as no surprise. Once again, Korea University topped “The MBA Evaluation by HR Managers from the Top 200 Companies,” an annual survey by Hankyung Business. The results are meaningful because HR managers who are consumers of the manpower market directly participate in this survey. The evaluation is served as an indicator of what the status quo of MBA programs stand. Since the evaluation took place in 2013, KUBS has been securing its crown as the best MBA programs in Korea. ▲Photo credit: Hankyung Business The 2017 MBA Assessment was conducted with the 14 universities, including 13 “Korean MBA schools,” recognized by the Ministry of Education (Konkuk University, Korea University, Dongguk University, Sogang University, Seoul National University, Sungkyunkwan University, Sookmyung Women's University, Yonsei University, Ewha Womans University, Inha University, Chonnam National University, Chung-Ang University, Hanyang University) and KAIST. The six evaluation criteria are as follows: △Employer’s Preference, △Development Potential, △Compatibility with Organization, △Globalization, △Professionalism and △Recommendation. Korea University’s MBA programs are No. 1 for five consecutive years, scoring a total of 3418 points this year. △Seoul National University (3271 points) came in second followed by △KAIST (3rd, 2956 points), △Yonsei University (4th, 2916 points), and △Sungkyunkwan University (5th, 2916 points). Hankyung Business reported that the KU MBA remained robust in the criterion that asks how well graduates use their friendly and altruistic mind to communicate with team members in a Korean company where it has a strong organizational culture. “Having the most outstanding faculty members as well as invited and adjunct professors with abundant experience accumulated, KUBS provides a variety of major courses demanded by industries,” KUBS Dean Soo Young Kwon said. “Particularly, in the era of the Fourth Industrial Revolution where the barriers between industries are rapidly breaking down, the KU MBA programs produce synergy while gaining insights and intellectuals through business networks.“ View Related Articles 고려대 MBA, 5년째 1위…‘이변은 없다’ 고려대 MBA 왜 강한가…조직 융화력에 발전 가능성 ‘높은 평가’ 위기의 한국형 MBA, 재도약 노린다 권수영 고려대 경영전문대학원장 “4차 산업혁명 시대 맞춤형 인재 키울 것”
KU Selected for “Leaders in INdustry-university Cooperation (LINC+)”
KU Selected for “Leaders in INdustry-university Cooperation (LINC+)” KUBS builds a distinguished Industry-Academia Cooperation model utilizing its unique startup institute, internship program, etc. KUBS devotes to help local industries and communities to be both developed by realizing the world-class Industry-Academia Integration. Korea University is selected as an “Advanced Industry-Academia Cooperation University” in the “Leaders in INdustry-university Cooperation (LINC+),” conducted by the Ministry of Education and the National Research Foundation of Korea. A total of five colleges, including △Korea University Business School (KUBS), △College of Engineering, △College of Health Science, △College of Informatics, and △School of Art & Design, participated in the KU LINC+ Project. Of all, KUBS and College of Engineering will play a pivotal role in this project. KUBS received excellent marks by proposing a distinguished “Industry-Academia Cooperation” model based on its independently operated startup institute and global & domestic internship programs. As a selected university for the LINC+ project, KUBS will cooperate closely with local industries and communities to cultivate excellent manpower, create jobs, and support innovation in small and medium-sized companies. The business school plans to strengthen its competitiveness and actively engage in the project activities. Meanwhile, the LINC+ is a large-scale financial support project with an estimated budget of 327 billion KRW. In addition, this is a newly established Socially-Customized project closely linking university curriculums to social demands. A total of 55 universities, including Sungkyunkwan University and Hanyang University, were selected for the LINC+ project, which aims to alleviate the youth job crisis and labor shortage at firms. Each university was evaluated whether the proposed “Industry-Academia Cooperation” model is appropriately reflecting its vision, circumstances, and features, and is feasible with internal and external conditions. Korea University will receive up to 5 billion KRW per year through the LINC+ project. This year’s allocated amount is 3.2 billion KRW. The LINC+ project will be sustained for five years from 2017 to 2021. The university plans to expand a new center within Research & Business Foundation. The director of the center is Professor Kwan Young Lee, who is also research superintendent of Korea University. The key development plan of the KU LINC+ is “emerging future knowledge industry by establishing an integrated Industry-Academia Cooperation platform.” The university strives to develop a global Industry-Academia Cooperation model through the following diverse programs: Student-designed Major, Fusion Major, π-Ville for Young Entrepreneurs, and KU All-Set Support. The three core strategies of innovative national and local industries include △establishing a world-class Industry-Academia Cooperation infrastructure, △developing an integrated educational and research system for future industry, and △revitalizing Anam-Hongreung Valley. In particular, Korea University signed an MOU with KIST Graduate School. With Anam-Hongreung Valley, aiming to be Korea’s Silicon Valley, the university intends to pioneer and realize the world-class Industry-Academia Integration with industries, universities, research institutes, and communities. Once the platform is created, a variety of supports, including startup ideas and support services, will be offered by π-IDEAS Factory and KUBS Startup Institute in conjunction with local communities.
“Living Day in Life of KUBS Student” – The 5th KUBS Teen Mentoring Day
“Living a Day in the Life of a KUBS student” The 5th KUBS Teen Mentoring Day will be held on July 29 (Sat) Selecting nearly 80 second-year high school student across the nation…An opportunity to explore the field of Business Administration On July 29 (Sat), the 5th KUBS Teen Mentoring Day will be held from 10 a.m. to 6 p.m. The Teen Mentoring Day, sponsored by Korea University Business School (KUBS) and hosted by its Student Ambassador KUBE, is a social contribution program for high school students interested in studying Business Administration. KUBS selects nearly 80 high school students to join the mentoring day. Besides the student ambassadors, more than ten KUBS students attend the event to serve as a mentor. The KUBS Teen Mentoring Day offers a variety of programs that enhance the understanding of the university and academic field, such as △Introduction to KUBS and Mentors, △Special Lecture on Business Administration by Professors, △Campus Tour, △Business Administration Practices, and △Meet Current KUBS Students. Not only that, participating teens has a mentoring session with current KUBS student mentors to discuss and share their concerns on studies, paths, and college life. This event is complimentary. Any second-year high students across the nation are eligible to apply for the event through the KUBS website (biz.korea.ac.kr). After reviewing all applications, selected high school students will be informed individually. Related Article “KUBS Teen Mentoring Day” Led Me to Dream of Entering KUBS” – Interview with Minsuk Kim and Geon Choi (Business, ’17)
Spring Term Campus Visit Led Successfully
Spring Term Campus Visit Led Successfully On May 13, Korea University Business School (KUBS) hosted the 5th KUBS Campus Visit and Teen Gathering Day (KUBS Campus Visit). Nearly 40 high school students participated in the event, sponsored by KUBS and led by KUBS Student Ambassador KUBE. The KUBS Campus Visit, which was conducted free of charge, included △Introduction to Business Administration, △Campus Tour, and △Academic Mentoring Session. During the event, the participating teens actively answered a pop quiz, and some showed their passion by taking notes. In addition, they grouped in teams to listen to stories of the student ambassadors and shared concerns about school life, including future paths. “As I am in the middle of choosing my major, the KUBS Campus Visit was such a valuable experience to understand what Business Administration is,” said participant Pyeong-gang Lee, a student of Cheongwon High School. KUBS will continue to host a campus visit at least once a semester for high school students interested in Business Administration to help them map out their future paths and academic planning. The Fall 2017 Campus Visit will be held in November.
The Startup Lecture Series Held Monthly
The Startup Lecture Series Held Monthly The KUBS Startup Institute hosted the 2017 Lecture Series every month to help startup teams and KUBS students to have a basic grounding required to serve as a future entrepreneur. On March 14, the first lecture series, titled “Things You Should Never Do with Your Startup,” was delivered by PeopleFund CEO Joey Kim, a P2P financial enterprise. “It is important to figure out if your tendency fits in △Perspectives, △Choice, △Execution, △Leadership, and △Humility,” said CEO Joey Kim (Business, ’00) who is an alumnus of Korea University Business School (KUBS). On April 18, Fast Track Asia CEO Jiwoong Park, Korea’s flagship company builder, presented a lecture, titled “Everything about Startup M&A and Investment.” CEO Jiwoong Park answered the question of what is the most important quality of a venture capitalist. “If you invest for a long period of time, you may become arrogant and have too much confidence in a certain industry.” he told the audience. “So, maintaining your humility will help you build trust in relations and play a key role when investing.” On May 18, the third lecture series was given by Flitto CEO Jung-soo Lee, a crowdsourced translation platform. CEO Jung-soo lee talked frankly about Flitto’s founding story and a tough funding environment. “A company must prove it with its business performance, not the process that a founder went through,” he explained. “You will be able to endure the ruthless reality if you have a clear reason for starting your own business.” The last lecture series in Spring 2017 was held on June 13. Finda CEO Hyemin Lee, a financial product recommendation platform, gave a lecture which was jointly sponsored by Future Entrepreneurs’ Society (FES) under KUBS. In a lecture entitled “Serial Entrepreneur and Entrepreneurship,” CEO Hyemin Lee covered how she was able to seize startup opportunities consecutively and vividly described her experience on how startups that were not yet funded could survive from Death Valley.
189 Students Awarded KUBS Scholarships in Spring 2017
189 Students Awarded KUBS Scholarships in Spring 2017 On May 23 at 7:00 p.m., the Spring 2017 KUBS Scholarship Award Ceremony was held at Ahn Young Il Hall in LG-POSCO Building. At the ceremony, KUBS Dean Soo Young Kwon, Associate Dean Woochan Kim, Associate Dean Jae-Nam Lee, Cheon-gu Heo (President of KOSAC), Kwang Soo Seo (Management Committee Member of Chung Pyung Hwa Fashion Mall), Jahyung Koo (Vice President of KUBS Alumni Association), Sungho Oh (Director of KUBS Alumni Association), Taejin Kim (President of the Entering Class of 1982), Sang Dae Lee (Director of the Entering Class of 1982), Kwangseop Jung (Vice President of the 82nd Class of AMP Alumni Association), Ingoo Ahn (Vice Director of the 82nd Class of AMP Alumni Association), Seung Yeoul Yang (Chief Operating Officer of Samjong KPMG), Seung Hoe Goo (Chief Operating Officer of Samjong KPMG), Jin Park (HR Operations Director of Hyundai Motor Company) Jin Seok Park (M&A Leader of Mercer Korea) and nearly 140 scholarship recipients were present. The ceremony began with welcoming remarks by Dean Kwon followed by the presentation of scholarship certificates, guest’s speech, student representative’s thank you speech, and commemorative photo shoot. “Donating scholarships to students you do not know is possible only through sheer courage and love,” Dean Kwon said, thanking the donors. “Remember this grateful moment, and hopefully, you will be able to return the favor to future KUBS students,” he told to the students. After the remarks, dinner was served while the donors interacted with the students. The students expressed their gratitude, and the donors offered counseling, as being a life coach. KUBS granted a total of 35 scholarship funds this semester and awarded to 189 students: △Freshmen Special Scholarship (1 student), △J. K. Huh Foundation Scholarship (10 students), △Kowon Shimwoo Foundation Scholarship (6 students), △Soam Scholarship (12 students), △Yang Young Foundation Scholarship (4 students), Kim Keun Chang Scholarship (7 students), △Future Scholarship (50 students), △81st Class of AMP Scholarship (1 student), △82nd Batch of AMP Scholarship (1 student), △KUBS Dream Scholarship (78 students), etc. “If possible, I would like to meet the donor and thank him in person,” said Seoeun Han (Business, ’11) who received Soam Scholarship. “I will strive to be successful to show my appreciation and repay the favor.” Meanwhile, a total of 189 students were awarded, totaling 35.7 billion won, through the 35 scholarship funds. As of now, the percentage of students receiving scholarship aid, both internal and external, is 67% (scholarship overlap counted).
“Developing Business Acumen through Company Visits” – Korea MBA and S³ Asia MBA Domestic Field Trip
Korea MBA and S³ Asia MBA Domestic Field Trip “Developing Business Acumen through Company Visits” The Korea MBA (KMBA)’s Spring 2017 Domestic Field Trip took place in Yeosu and Gwangyang, South Jeolla Province for three days from April 28 to 30. The KMBA students were able to develop their business acumen by visiting △GS Caltex, △Yeosu Gwangyang Port Authority, △POSCO Gwangyang Steelworks, and △Korea National Oil Corporation’s Yeosu Underground Storage Base. The first company tour was held at GS Caltex’s Yeosu Plant, and company officials explained what “Oil Business” is. The second destination was Yeosu Gwangyang Port Authority. The students went on a cruise excursion and toured Gwangyang Bay riding on a tugboat. On the second day, they visited Gwangyang Steelworks to observe its internal hot strip mill. Providing the students the opportunity to learn about oil stockpiling projects and its business, the last day of the field trip took place at Korea National Oil Corporation’s Yeosu Underground Storage Base. “I have to say it was not easy to make a decision of participating in a field trip since I have to work and study at the same,” said Jongkyung Lee (KMBA, ’17) who participated in the field trip. “This turned out to be by far the best experience throughout the KMBA program.” The S³ Asia MBA (AMBA), a full-time MBA program, went on a domestic field trip for three days from April 19 to 21. The AMBA students had company tours at △POSCO, △Hyundai Heavy Industries, and △Hyundai Motor Company, and explored Korean history and culture in Gyeongju. The AMBA students visited POSCO’s Pohang Steelworks and learned about its history and steel industry. At Hyundai Heavy Industries (HHI) Ulsan Plant, they spent time at a memorial hall, which features achievements of the honorary chairman, to acquire knowledge of HHI businesses, such as offshore and engineering industry, green energy, and electro electric systems. The students also toured Hyundai Motor’s Ulsan Plant, the world’s largest car-making facility, to observe Korea’s representative industrial site ranging from the automotive manufacturing process to inspection.
“Getting Advice on College Life from Mentor Professors” – Faculty-Student Mentoring Day Held Successfully
“Getting Advice on College Life from Mentor Professors” The KUBS Faculty-Student Mentoring Day was held successfully…65 professors and 523 students joined the event and spent meaningful time The KUBS Faculty-Student Mentoring Day was held on the 10th, 13th, and 14th of April for three days in Ahn Young Il Hall and Cuckoo Hall of LG-POSCO Building. The mentoring day is designed to help KUBS students explore and adjust to college life. The program aims to pair a new student with a professor and provides a wide range of consultation services, such as studies, careers, jobs, and relationships. A total of 65 KUBS professors and 523 new students attended the event. After wearing their nametags, the students introduced themselves and spent time interacting with their assigned professors. They also completed a survey on △interested major, △career, △suggestions, etc. The professors also asked them questions about challenges in college life while reviewing over the students’ demographic surveys. The students shared their concerns as they chatted and enjoyed snacks. “I am not sure what activities I should do during the first year of my college,” one of the participating students questioned. “I hope you do not get overly obsessed with certificates and specs (derived from the word specifications: evaluation factors for employment such as work experience, educational backgrounds, and foreign languages), but embrace the changes and find activities that fit your lifestyle,” Professor Se-Joon Hong answered. “Your college experience will turn into a lifetime memory, so I recommend you make the best out of it.” Moreover, questions were raised about campus life. “You have been studying at KUBS for about a month. What is the most memorable moment of campus life so far?” asked Professor Hong to Jiwon Kang (Business, ’17). “The joint cheering orientation was impressive,” she replied. “Cheering together with my Entering Class was unforgettable to me.” The professors and students engaged in back-and-forth conversations on college life. “What is the first thing you wanted to do when becoming a college student?” asked Professor Jay Hyuk Rhee to Ji-Yoon Koo (Business, ’17). “Back in my high school days, I just studied. So this time, I want to explore around and build experience,” he replied. “I hope students will be able to find their career path and make their college life meaningful through this metoring day,” Professor Rhee said. In the meantime, the next KUBS Faculty-Student Mentoring Day will be held in Fall 2017.
Collaboration Event by the 82nd Class and 83rd Class of AMP
Collaboration Event by the 82nd Class and 83rd Class of AMP On May 15, the Collaboration Event by the 82nd Class and 83rd Class of Advanced Management Program (AMP) was held at SUPEX Hall in LG-POSCO Building. The event was organized to establish a strong network among the 82nd Class graduated last year and currently enrolled 83rd Class. “AMP motivated me to challenge and study further before it is too late,” said Executive Director Donoh Lee (82nd Class). “I hope this event gave the AMP graduates and students some relaxation. A female cello trio called “Steupeo” participated in the event and played classical music to the AMP graduates and students. The event, entitled “Classical Music Pulled Out from Concert Halls,” covered songs used in dramas, movies, and everyday life and made classical music easy to enjoy. Steupeo is a trio of cello buskers consisting of Beodeul Park, Jiyoung Park, and Jia Choi. The 82nd Class and 83rd Class drowned in the beautiful melody of cellos and erupted into rapturous applause and cheering.
“Every Successful Company Has Its Unique Story” – Special Lecture by AMP Alumni Association President Young-sik Kim
Special Lecture by AMP Alumni Association President Young-sik Kim “Every Successful Company Has Its Unique Story” On May 29, the AMP Alumni Association President Young-sik Kim gave a special lecture in SUPEX Hall of LG-POSCO Building. Nearly 80 attendees, including KUBS Dean Soo Young Kwon, Associate Dean Kyung Sam Park, Program Director Sang Yong Kim, and the 83rd Class of AMP, participated in the event. The AMP Alumni Association President Young-sik Kim is the founder of health food company “Chunho Food” and also the author of “Run Ten More Meters.” In his lecture, entitled “An Entrepreneur Starting from Scratch: Persistence Produces Miracles,” President Kim emphasized imagination is significant in order to succeed. “The five stages of imagination — observation, cognition, concentration, formation, and creativity — will always lead you to success,” he explained. “Since we tend to follow what we imagine, we need to think of the very best outcomes.” He mentioned that he experienced failure before achieving success in his field. President Kim, who at that time held more than 2 billion won in debt for four years, started his business with 200,000 won and was able to pay off his debt in two years. “I strived to put ideas into action,” he added. “Successful people do not put off their tasks until tomorrow.” President Kim also opened up the hardships he went through. His daughter once asked him, “Why is our family so poor?” Her question was a great impetus. In fact, he gave himself six months to sell mugwort herbs. The audience burst into applause when he shared the story of him wearing a khaki tie and shirt to advertise and sell herbs. “Every successful company has its unique story,” said he at the end of the lecture. President Kim said any experiences, such as flying on an airplane over 2,000 times or participating in a marathon while going to work, are all great stories to approach customers. “’Sincerity’ is the best advertising tool,” he said. “I hope you take a pride in your professional field.”