Interview with Finance MBA Program Director Na Hyun Seung
Interview with Finance MBA Program Director Na Hyun Seung Q. Please briefly introduce yourself and the F-MBA course Since January of this year, I have been the program director of F-MBA. I am a faculty member of the finance sector, and I teach and study topics of corporate finance and corporate governance. Although the F-MBA program has a history of 13 years, last year it has changed to a two-year part-time course from a one-year full time course, and the overall nature of the course, including its curriculum and membership, has changed dramatically since last year. In the process, former director Jung Ji Woong worked very hard, and I have taken over from this year to pursue both stability and change. The purpose of F-MBA is to foster financial experts who lead change in the financial industry through an independent Part-Time MBA program specialized in the financial sector. In line with the rapidly changing financial market and the trend of the times, we aim to help students acquire not only traditional financial theories but also new and practical financial knowledge and thinking abilities, and to have the ability to apply it in practice and lead changes in the financial industry. Q. What do you think of any future changes in the direction of the program's? The first generation of alumni will be released at the end of this semester after the part-time course transition. Based on my experience during the first two years, I think my current challenge is to maintain the overall direction of the program while increasing the level of detail. Based on trials and errors that were inevitable in the initial trial and error process, we are reorganizing the curriculum in part, and we are also planning to set up a field trip to see foreign financial markets based on the opinions of our students. Also, a cross-registration system is on the process of settling down so that students may take general business administration courses of the Korea MBA within certain limits. We intend to continue to develop new subjects that reflect future trends in financial markets and are more subdivided into various sectors of the financial sector so as to achieve quantitative and qualitative growth through specialized courses in the financial sector. Q. What are the advantages of Korea University's F-MBA which is different from other schools and courses? First of all, it's an independent process specialized in finance. Instead of having some additional finance-related subjects added to the general MBA course, the entire two-year process focuses on the knowledge acquisition required by the financial industry. Therefore, they are more specialized for students who are engaged in the financial sector or want to enter the financial sector compared to other courses. Second, it is a process that reflects not only traditional themes and knowledge, but also recent changes in the financial industry and practical aspects. For example, we train computer programming, big data and machine learning, including R and Python, to reflect the recent trend in the financial industry that has been associated with rapidly evolving IT. In addition, we invite working-level experts, who are mainly active in the financial industry, to share living knowledge of the site. Last summer, we invited experts in private equity, venture capital, investment banking, asset management, etc. to give special lectures. In general, we also have working-level experts participating to deliver knowledge that is helpful to our business. Q. Please say something to those who dream of becoming a prospective MBA. The financial market is changing rapidly. In particular, technological developments such as fintech, big data, artificial intelligence, and blockchain are converging with the financial industry, creating a completely new market environment, and various regulatory changes to accommodate them are also being discussed. Even today's financial workers may feel insecure about the changes and are also feeling the need for education on new trends. The F-MBA is open to those who want to actively embrace these changes, respond and lead. I want you to share your experience and passion with the F-MBA and prepare for a new future.
[Global Internship Experience] Global Internship Was a Grounding Experience - Jungwoo Choi (Business '11)
Global Internship Experience│Jungwoo Choi (Business '11), Internship at LG Electronics Indonesia Global Internship Was a Grounding Experience Deciding to partake in global internship After entering my fourth year and while I was considering my career options, I became interested in sales/marketing, chiefly for its involvement in inspiring customers that would eventually lead to the firms’ sales. As a result, I decided to apply for an internship and gain work experience in that field to judge whether or not it suits me and found myself looking through internship opportunities. I eventually came across a global internship program run by KUBS, and immediately applied after hearing that I would be doing an internship abroad. During my preparation, I found reading stories of students who have formerly undertaken the global internship program the most useful. I was able to contact them and find out about the department they worked in, what kind of work they did and the extent of the company’s welfare support. Life at LG Electronic Indonesia Preparation for doing the internship in Indonesia went smoothly, thanks to the support from one of the local employees. It was easy to obtain residence – they introduced me to a boarding house near the sales office. It is possible to choose the department to work in, but choices are liable to change due to each department’s schedule. I applied for the home entertainment department which specialized in TV/ audio and set-top box. At the outset of the internship, I discussed with the head of the department about my goals for this internship. My goals were: 1) understanding the Indonesian market 2) understanding the local sales department’s processes 3) experiencing Indonesian culture. The sojourning employees are on a very tight schedule so it is important to set up a big goal and adhere to it. To understand the Indonesian market, after consulting the local employees, I visited 10 supermarkets in downtown Jakarta to compare competitors’ products, promotion and targeted customers. I also went out to the suburbs to have a tour around the production sites. After work, I interacted with the local employees by having dinner with them and on the weekends, I visited tourist sites. At the end of the month, I finished my internship by compiling everything I have done for the past month into a report for the sojourning employees. Higher level of understanding of practical affairs could lead to landing a job One of the biggest gains from doing my internship is having increased my understanding of practical affairs. On the basis of this experience, I was able to vividly explain my motivation to apply for the firm. It also helped me to understand the work of the interviewers and elaborate on how I can contribute to the firm. I succeeded in obtaining the job. I would like to thank all the business school people and LG Electronics Indonesia employees for providing me with a rare opportunity to undertake a global internship.
"Have Faith in Yourself and Embrace New Challenges" - Interview with Student Landing Job Abroad (Suji Choi, Business '12)
KUBS Career Hub│Interview with Student Landing Job Abroad (Suji Choi, Business '12) “Have Faith in Yourself and Embrace New Challenges” Suji, Choi (Business ’12) is a new employee in "The Boeing Company," an American airplane manufacturing firm, after having completed her internship program. Having thoroughly researched what she had wanted and setting herself a clear goal, she participated in "The Boeing Company" internship program, and despite it not being a job guaranteed internship, she had the fortune to become a full time employee. She said that she was able to earn her position due to her outgoing attitude in setting her goal and her conversations with KUBS graduates. Q. Could you tell us about how you prepared for your overseas internship? Everything was quite ambiguous because I did not have any access to information regarding overseas internship program. I tried various ways to gain information. I went to KOTRA Global Job Exhibition and inboxed people whom I thought had my dream job on LinkedIn. Lecturers were easy to converse with because they were mainly people who came to the school to help out KUBS students. Not everyone answered my messages, but the few who have were very helpful. Q. How was the internship application process? I first saw the notice on "The Boeing Company" internship on the KUBS Career Hub website. I sent in my application form in June, and had an interview with a person of Chinese, Japanese and Hong Kong nationalities from the Asia-Pacific HR department. 15 candidates were selected through this process to undergo a final interview. The interviewers were from the HR department and consisted of one Korean, and two Americans. I was one of the three Koreans who were selected and started my 6 months long internship. Q. What was the most memorable experience during your internship period in “The Boeing Company”? I was very much impressed with the corporate culture. Every director and manager was female. Due to it being a manufacturer, "The Boeing Company" was always under the impression that it was more bureaucratic than IT firms and did not grant managing positions to female. But from what I saw, I thought that female employees were being given ample opportunities to further their careers. I was also taken aback by being able to work with high level officials despite only being an intern. Q. Could you tell us how you were converted to a full time employee? I did not apply for an employment guaranteed internship. I was aware that it was only a 6 month program aimed at provided foreigners with work experience. But I had an American citizenship so it was easy to obtain a visa, and I thought if I made a good impression there would be a good chance of being employed. So I decided to take the risk and participate in the internship program. The manager’s review is crucial to being offered a job in "The Boeing Company." For me, I was fortunate enough to have my manager recommend me to the HR department. But not having a citizenship does not necessarily mean that there is no chance of employment. I believe making good impression during the internship period will pave opportunities for employment in other foreign firms. Q. What is your newly assigned task? I will be working in the "International Payroll and Global Timekeeping" team. We manage the wages, welfare systems and time attendance of employees in 66 branches in 45 different countries. It is a mix between finance and HR. Smooth communication with the local subsidiaries is crucial because we have to deal with 39 different currencies and 45 different tax and labor laws. I am a global account manager who is in charge of 3 different countries. Q. Could you give a word of advice to your KUBS students? I hope more people will become bolder. I want to encourage them to have more faith in their strengths and have confidence rather than worrying about the future. Getting jobs overseas is not as limited as people think it is. It’s important to be a little bit more proactive, and ask graduates a lot of questions when applying abroad.
[Interview with 4 New KUBS Startup Teams] Striving to Provide Services that Are Beneficial to the World!
Interview with the winning teams in “2017 Startup Express Summer Season” Striving to Provide Services that Are Beneficial to the World! ‘Startup Station’ has selected the following teams to join its venue: △We Share K (Grand Award) △Toad (Excellence Award) △D&I (Participation Award) △SOVS (KUBS Research Committee Award). These four teams have survived a brutally selective process and each will be awarded a venue in Iljin Startup Support Center located on the 2nd floor of KUBS Main Building. They will be granted operation expenses for running their startups and additional educational programs. We interviewed the four teams to hear about their business items and future plans. Grand Prize <We Share K> <We Share K> highly values sharing and helping other people. We have set out with a vision that ranges from something as small as helping foreigners living in Korea to as comprehensive as helping out everyone including Koreans. We have built our team on our connections with Chinese to provide Chinese students with consultation on studying abroad and Korean education. <We Share K> broadly operates in three areas. The first is foreign language education. We are running Korean language classes for foreign students who are attending colleges in Korea. In the future, our company has plans to expand into teaching Chinese to Korean students and subsequently, English. The second area of our business is providing consultation for students wanting to study abroad. Our services are aimed at foreign students wanting to study in Korea and are much cheaper than the ones provided by other consulting firms. Lastly, <We Share K> provides general information on living in Korea. Such assistance includes a variety of activities like giving free food at lunch or linking foreign students with Koreans to help them acclimatize to Korea. We have plans to provide Chinese and English language classes for Koreans launch our online courses website in September. We are also looking in to provide online Chinese cuisine delivery service and diversify foreign language classes to expand our business. Excellence Award <Toad> <Toad> was started with a vision to "build a world where people can live without worrying about money." We are currently working on our service called TOAD which would be helpful to Hogang (a term coined in Korea to describe gullible customers). TOAD is a reference to the toad in a Korean fable, "Kongji and Patjwi," that filled a hole in a leaking jar. Like how the toad prevented the jar from leaking, "TOAD In the Pot" is a form of creation service that would help prevent unwanted leak of money. The service is designed to string together benefits that customers have often overlooked due to their overly complex rules or because they were unware of them. TOAD will also analyze consumers’ patterns and based on its analysis, recommend a way of smart shopping. Our principal consumers will be singles in their 30s. The revenue will be mainly generated from forming contracts with credit card or smart pay companies. We think the service can also provide consumers’ data to SMEs or act as an advertising channel. We are soon launching the mobile application and web version of TOAD. To bolster its publicity, there will be an event booth in September to study workers’ and students’ responses. Once TOAD becomes an "expense creation," it will develop into a "purchase creation" that recommends products to the customers based on their needs. Our ultimate goal is to turn individual data into platforms and build a robo-advisor that will provide customized information for each customer. Participation Award <D&I> <D&I> is an acronym for "Discovery and Invention." The name contains our vision to identify social problems and provide solutions. We are currently running a business called "PARVIS" that mainly deals with intellectual property. Simply, PARVIS is an "online lawyer." Many have given up on applying for patents via patent attorneys due to its complex procedures and high costs. Moreover, because of customers’ lack of understanding about patent application procedures, patent attorneys have more or less acted as inventors rather than assistants. Through the use of big data and machine learning, PARVIS seeks to help in general areas such as assessing the possibility of the application being successfully registered (prior research) and filling out documents (patent application forms). It will be convenient to use and take a load off patent attorneys. D&I’s primary goal is to upgrade PARVIS and help out individuals who are applying for patents by making videos that explain the application procedures. We want to fulfil our slogan, “Turning people’s ideas into patents for the world”. We envision a world where everyone’s ideas can freely appear in the world via PARVIS, and be used for the betterment of our society. Business Research Committee Award <SOVS> <SOVS> stands for "Someone Very Special" and it embodies the company’s vision to "capture every treasurable moment." SOVS is developing an application for rear camera use and it’s planned to be launched in October. SOVS is developing a camera application that allows the user’s desired photographic composition based on the object’s silhouette. People can check their composure and pose when using self-cameras but the use of rear cameras is entirely left in the hands of another person and it is often difficult to explain the desired composition. SOVS features △basic mode, which has 16 different basic compositions, △ translucent mode that enables the user to use existing photographs, and △customized mode which allows users to set up their own composition. Lastly, SOVS will provide recommendation on each person’s suitable composition and pose by storing and analyzing the user’s photographs. This year’s primary goal is to launch the SOVS application in October and subsequently upload various popular compositions. We are designing a "friend" or a "couple" composition, and an SNS platform to fill our users in with popular photoshoot places as well as trending poses and compositions. Just like the name, we are trying to make memorable recollections by taking pictures of their memorable moments.
[Interview with Executive MBA Students] Junghyun Baek (14th Class), Eui Ji Baek (14th Class)
Interview with Executive MBA Students│Junghyun Baek (14th Class), Eui Ji Baek (14th Class) Junghyun Baek: “EMBA broadened my horizon” Q. Please introduce yourself to our readers. My name is Jung Hyun Baek, president of Jaguar Land Rover Korea. I made my entry into the automobile industry by taking a position in the overseas marketing department, worked my way up to become the director of sales/marketing department and have held my current position as the president of Jaguar Landrover Korea since 2015. Ever since entering the Korean automobile market in 2008, Jaguar Landrover has cemented its position as a luxury brand that provides its customers products and services of the highest quality and as a result, have yielded a performance growth of 273% during the past 3 years. Q. Why did you decide to enroll in MBA? Before becoming the president of Jaguar Landrover Korea, I prided myself on having been in the same industry for 27 years and being an expert in the automobile industry. As the president of a premium automobile brand that is growing globally, even in the midst of fierce competition in this constantly changing world, I want Jaguar Landrover to continuously grow as the most beloved luxury brand in Korea. I enrolled in MBA because I felt the need to broaden my horizon and perpetually keep in touch with the latest business trends. Q. Why did you choose KU Executive MBA out of all the other MBA programs? A lot of people recommended me to take KU EMBA. Its strong alumni network, prestige recognized by the head office abroad, top rank in Korea and in the top 20 worldwide, and modular style curriculum that allows a more flexible schedule have led me to decide KU EMBA. Q. Have you noticed any big changes after finishing Executive MBA? The MBA’s practical curriculum gave me an opportunity to enhance my managing ability which has been hardened by business practice, and therefore improve my organizational management. Also, it helped to further the viability of the financial projections and brand strategies in my plans for the firm’s medium and long term vision and agenda. I was able to gain valuable insights into various fields from my class discussions with my colleagues who were experts in their respective fields. Q. Which EMBA curriculum helped you the most? Every curriculum was useful in its own way so it’s difficult to choose one. Personally, I found the IRP program that consisted of visiting 3 prestigious universities the most memorable. During the summer holiday in the first year, I went to UCLA in the U.S., HKUST in the winter holiday, and Italy’s Universita Bocconi this summer. As the executive manager in a global company, visiting the U.S.’, Asia’s and Europe’s iconic universities helped me to keep up to date with the latest trends in global economics and businesses. Q. What did you take from EMBA other than the courses you have taken in the core curriculum? Most impressive of all, KU has a very well organized and systematic alumni network. The opportunity to interact with normal and EMBA students provides a diverse network and the students can share information that could be useful to various career development. Q. Could you give one last word of advice to prospective EMBA candidates? There were lots of doubts on whether doing a painstakingly time consuming MBA would help my career when I was already the executive manager. But the KU EMBA program gave me time to look back at my restless 27 years. It also served to develop insight and invaluable information required for management. I was able to return to my original zeal I had when I first started work and learn about new paradigm as well as employing the diverse networking program to interact with experts from lots of different fields. Eui Ji Baek: "The most invaluable experience in my life" Q. Could you introduce yourself to our readers? For 20 years since 1997, I have worked in the finance and actuary departments in Lina insurance, an America based life insurance company that specializes in health insurance. Now, as the CFO, I oversee financial accounting, insurance actuarial affairs, investment and risk management. Q. Why did you decide to enroll in MBA? The insurance industry has transcended its original business model of providing financial aid in cases of accidents. Not only does it consider merging multiple industries like health care and funeral rites but in the midst of the fourth industrial revolution, there have been series of rigorous discussions on the need for "transformation." The urge to step outside the field of finance which I have worked in for 20 years to interact with people from various backgrounds, and my desire to garner professional management knowledge have led me to enroll in MBA. Q. Why did you choose KU Executive MBA out of all the other MBA programs? I was very prudent about applying for MBA because of its high cost and time consuming curriculum. I have looked into lots of MBA programs, but I found KU enjoys the highest accolade for its reputation in business studies in Korea and out of the top 100 EMBA ranked by the Financial Times, KU was first in Korea. This external evaluation made me seriously consider KU EMBA and my decision was finalized when someone in my company who have finished KU EMBA recommended it. Q. Have you noticed any big changes after finishing Executive MBA? In terms of work in the office, I became in charge of risk management and general management in addition to my original work in finance. I think the firm acknowledged the experience I have gained from my EMBA. But more importantly, I learned a lot from my colleagues. I learned a lot from students’ (who would be managers in their firms) willingness to put aside their titles to actively participate in team projects and school events. I was influenced by their never-ending curiosity and their passionate class discussions which helped me to see other sides of my colleagues at work. Q. Which EMBA curriculum helped you the most? The most memorable subject was "Strategic Human Resources Management;" its philosophical approach that aligns a firm’s HR management strategies with its business philosophies was refreshing. I also learned a lot from ELITE Project which required us to build a new business model. Drawing on from the expertise of my colleagues who worked in medical, pharmaceutical, telecommunication industries and the management theories we learned in class, we built a new business model in the healthcare industry. It was an experience I will never forget. Q. What did you take from EMBA other than the courses you have taken in the core curriculum? I do not think I would ever have been able to meet the kinds of people and professors had I not done EMBA. I enjoyed listening to people’s stories inside and outside of classrooms and was brightened by the prospect of being able to constantly be in touch with these people. Q. Could you give one last word of advice to prospective EMBA candidates? EMBA is not about gaining new technical skills but about sharing experiences with your colleagues and learning strategic approaches necessary for management. Students will find themselves thinking differently after spending time discussing with their friends and improving each other’s shortcomings. I encourage prospective students to believe in themselves and embark upon an enjoyable life changing challenge.
[Study Abroad Experience] “I Have Broadened My Global Insights through Global Business Knowledge” - Haein Kang (Business '15)
“I Have Broadened My Global Insights through Global Business Knowledge” I went on an exchange program to NOVA School of Business and Economics (Nova SBE) in Lisbon, Portugal. Students are very proud to be members of such a prestigious institution in Lisbon. Being a small capital equipped with shopping malls, commercial areas, cinemas, museums and parks, you can pretty much go around the city on foot. It’s actually easier to walk than taking the public transport because the city is a very hilly place and the northern part of the capital is covered in uphill roads. Naturally, you’ll find it easier to use the subway, so it’s handy to have a transit card you can swipe as you please for public transport. The local people are very open to foreigners. You will see plenty of people downtown who are not fluent in English. But luckily, the younger people have some knowledge in the language and students are very proficient, so I was able to get along using English. Lisbon has vibrant exchange student communities. There are clubs like Erasmus Lisboa, ESN Lisboa, and ELL who come for promotion during the welcome session. Students can make club cards during the session which would enable access to various events and parties for lower prices or free. These groups will offer various programs to facilitate travelling in Portugal or open parties to ensure the exchange students enjoy their time in Lisbon. All of the courses are organized into two theoretical classes and one practical class (tutorial class). The practical classes are run in small groups that have been formed from the big groups in the theoretical class. I took four courses. In the strategy course, students will read case studies and learn to set up corporate strategies that are in line with the characters of the company. We were given a team project to establish a business strategy for an assigned company. In macroeconomics, the professor gave out tasks that required us students to compile statistics and data, but I assume people with backgrounds in economics will not find the lecture difficult. I learned about global businesses in international management, where we submitted a report and delivered a presentation on global expansions of a company’s businesses. The Global Business Environment course is about issues surrounding the business environment. We were asked to debate about articles we have read and presented cases on local companies’ expansion into the international arena. I still reminisce the blue sky in Lisbon and the faded pastel-tone houses. I treasured the time walking down the Tagus and seeing the blue river through the break between the ensembles of buildings. I very much enjoyed the high quality of education and the beautiful scenery. Haein Kang (Business '15)
[Partner School] Becoming the Top European Business School, NOVA SBE
Becoming the Top European Business School, NOVA SBE With its goal set of becoming the top European business school, NOVA School of Business and Economics is a constituent college of Universidade NOVA de Lisboa in Lisbon, Portugal. The national university was established in 1978 in Lisbon, the capital of Portugal. "NOVA" means "new" in Portuguese. With around 19,000 students, 1491 professors, 804 staff members and 9 colleges, the school specializes in various academic fields. Exchange students from over 50 countries come here attracted to the prospect of becoming a global talent. NOVA School of Business and Economics is one of the nine colleges and prides itself on providing high quality education; programs aimed at giving students a good ground on practical affairs; and educating young talents who would contribute in furthering the frontiers of academia in their communities. The faculty members constitute of people from diverse backgrounds. Approximately 250 professors from 25 countries each have their expertise and about 85% of the professors have graduated from universities in the U.S. and Europe. Each is conducting research into their academic fields to provide clarity on various global trends. KUBS has signed a partnership with the college in March 2016, and has maintained the relationship ever since. The school has partnered with more than 200 schools over 54 countries and collaborates with schools in Europe and South America to provide 19 dual degrees. NOVA School of Business and Economics has garnered impressive results on global rankings. It comes in 14th for its program in International Masters in Finance, 17th in International Masters in Management. The school has also joined the global alliance in business management and has acquired accreditation from AACSB, EQUIS, and AMBA (Association of MBAs). There are only 70 universities in the world that have received approval from all three boards.
“People Should Strive to Be Original” – Interview with Dae Youp Kang, New Appointee in Foreign University
Interview with Dae Youp Kang, a New Appointee in a Foreign University “People Should Strive to Be Original” Alumnus Dae Youp Kang (MIS Major, '16) This September, after having finished his PhD at KUBS, Dae Youp Kang (MIS, Advisor=Professor Anat Zeelim-Hovav) has been appointed a full-time instructor of Business Information and Technology at the University of Memphis, U.S. <KUBS Journal> interviewed Dr. Kang about his journey from the days of embarking on his master’s and PhD to being assigned a position in the university. Q. Do you have any memorable events while you were doing your PhD at KUBS? A lot happened while I was doing my PhD. Some of the events I remember are when I had to move lab, when I made my first presentation at an academic conference, and when I graduated. Just before graduation, in a foreign academic society, I met Dr. Sung-Yong Um (KUBS master’s, ‘09), my senior and a professor at National University of Singapore, with whom I conducted research. I think this too was a treasurable memory. Q. What did you do to prepare for your dissertation and application for a post at the University of Memphis? To be frank, I had to rush my PhD, so I was not well prepared to apply for a post. I did not have the necessary job market paper, presentation, resume, and research plans for a job talk. Fortunately, I was able to have talks with many well-known universities in the U.S., but I failed to obtain a post. Then, Professor Um reached out to me from National University of Singapore where I became a research associate. On the strength of the research portfolio I have compiled in NUS, I successfully obtained a post as full-time instructor at the University of Memphis. I would like to take this opportunity to thank all the faculty members in National University of Singapore, my seniors, and KUBS. Q. Could you tell us about your future work? In the past, operations produced information concerning related businesses. Nowadays, the leap in information technology has led to an era where information guides business operations. Producing, compiling and distributing this information and catering to the digital platform to create value have become integral to the IT industry. Ensuring the security of this information has also recently come under the spotlight. My research will focus on how the link between digital platforms, and the IT security industry can create business values. Q. Could you give one word of advice to KUBS students who want to become a global scholar? Conducting research takes up a lot of energy. It demands rigorous amount of eloquent writing, a set of very good methodologies, and some internal politics. Also, it is essential to surround yourself with good people. There’s bound to be a good deal of criticisms of your work from the advisors and the people you will see in various conferences and during review processes. But if you can produce something original, there is always somebody who will acknowledge the work. I think that if anyone has a firm belief that their work will contribute to expanding the pool of global knowledge, they will have garnered a global reputation. I hope Korea will become a global platform that exports knowledge. I hope KUBS students can successfully employ the academic resources at KU to become a renowned figure in the global academia.
[Interview with Finance MBA Program Director] “FMBA is a Curriculum That Aims at Nurturing Pioneering Experts in Finance
Interview with Finance MBA Program Director│Professor Ji-Woong Chung “FMBA Is a Curriculum That Aims at Nurturing Pioneering Experts in Finance” Finance MBA (FMBA) is a specialized MBA program. The program, which was originally designed as a one year full-time course, has been stretched to a two year (4 semesters) part-time course. <KUBS Journal> interviewed Professor Ji-Woong Chung, Program Director of FMBA to ask about the change. Q. Could you tell us why KUBS decided to alter the duration of FMBA? The FMBA has just celebrated its 12th anniversary since its commencement in September 2006. We thought that it was crucial to reflect the changing needs of the students over the past 10 years. Recently, there has been a surge in the number of workers taking courses to elevate their professionalism. We thought in order to accommodate the growing demand of our FMBA from workers, it was necessary to extend the duration of the program from a full time one year to a part time two years. Q. How is the new FMBA structured? The main difference would be that daytime courses have been changed to evening and weekend courses. In terms of the course structure, along with conventional lectures like asset management and corporate finance, we offer classes that have high practical and technical uses. Our faculty members have shifted their focus on theories and techniques to a more practical approach. The program’s aim is to provide a curriculum that reflects the rapid changes in the IT and finance industry; as a result, in addition to the traditional courses on financial theories, we are also trying to offer lectures on △IT training, △Big Data, △Machine Learning, and △Programing. Noting the deep relationship between government regulations and finance, we have also been considering cooperation with the law department to educate our students on financial regulations. This course would be unique to KU FMBA. Q. Would the new FMBA also have the advantages of the old curriculum? Yes. Our FMBA is the first to sign a partnership with the CFA Institute and in doing so, we have enjoyed access to resources on recent business trends which have been assembled by leading financial experts. Also, through KUBS’s independent network of partnerships with other schools, students can go on exchange from 2 to 6 months. Some of our FMBA students recently went to △University of San Diego in the U.S., △Fudan University in China, △NUS in Singapore, and △Waseda University in Japan. Q. Could you give a work of advice to those who are considering applying to FMBA? The global financial market is changing. The fourth industrial revolution, on the tide of fintech, big data, and artificial intelligence, has spread its wings into finance. To reflect the concerns of maintaining soundness of financial institutions but embracing new technologies, there will be changes both in regulations in finance and technology. KUBS FMBA plans to incorporate these changes and help students gain new academic insight into their expertise and become leaders in their respective fields.
[Interview: The 1st Anniversary of KUBS Startup Institute] Our Goal Is to Be the Leading Startup Hub in Korea
Interview: The 1st Anniversary of KUBS Startup Institute “Our Goal Is to Be the Leading Startup Hub in Korea” Korea University Business School affiliated KUBS Startup Institute celebrated its one year anniversary. In September 2017, Professor Ho-Won Jung, Director of KUBS Startup Institute, has reached the end of his term, and Professor Hicheon Kim will fill in the position. <KUBS Journal> conducted an interview with the two about the overall performances of KUBS Startup Institute and their future cooperation with LINC+ Project to invigorate startup among youths. Q. It’s been a year since the launch of KUBS Startup Institute. Tell us how you feel. Director Kim: The world is changing at a remarkable pace. When we look at the rise and fall of enterprises during the industrial revolution, the strong dwindles and new enterprises that have grasped emerging opportunities assume leadership. We are confident that the teams that have entered our institute will extend their reach to all parts of the world. I hope our institute becomes the starting point for teams that aspire to become global enterprises. Professor Jung: There is a new paradigm as we enter the fourth industrial revolution. For the past few years, the IT industry has followed the leadership of companies like Microsoft and Google. KUBS Startup Institute is for those who can seize emerging opportunities in a rapidly changing world and are capable of creating new values. We have attracted a total investment of 970 million won, and our company valuation stands at 15.4 billion won. I am proud of what we have achieved. Q. Tell us about some of the strengths of KUBS Startup Institute Director Kim: We not only provide space but also practical assistance. Through MOU with Kim & Chang Law Firm and Samil, we give legal, accounting, and tax services. We also have programs like “Lecture Series” and “Lecture on Demand” to fill in startups with relevant information. In addition, we have been advocating active investment from venture capitalists, accelerators and angel investors by hosting events like CHOO CHOO DAY. Professor Jung: The biggest strength lies in its openness. All you need in your team to apply for a venue is a business undergrad or an alumnus who has obtained his degree within the past 5 years. Our constituents made of students who range over diverse majors such as engineering, humanities, and design. We also provide services that our essential during the beginning stage of establishing businesses such as Amazon Web Service and AWS Cloud. Q. Tell us how KUBS Startup Institute plans to invigorate youth startups with LINC+ Project. Director Kim: We plan to support talented students from various majors, so they can reach their potential. At the present, the key participant of the KU LINC+ Project are students from business and engineering departments, but I hope a lot more students from different backgrounds will join KUBS Startup Institute. I look forward to seeing students independently constructing new business models to solve social problems. Professor Jung: I think the partnership will give us the opportunity to expand what we have been doing in KUBS Startup Institute. If we manage to procure sufficient funding, we would be able to provide better infrastructure for the teams. I hope to have the teams participating in startup expositions abroad. It will be a fruitful experience – they will see what ideas foreign ventures have and how they employ them to establish new companies. It’s better for them to be in the field and actually see the action rather than simply hearing about them. Interaction with students from all over the world who have their own startups will be a stimulating experience. Q. What does KUBS Startup Institue hope to achieve by the end of its LINC + Project in 2022? Director Kim: Our priority is to be the leading startup hub in Korea. In doing so, it would become a place where investors interested in college ventures look forward to visit. In fact, I hope it becomes a globally recognized hub. Professor Jung: 5 years from now, I hope people would think of this place when the word “startup” pops into their heads. And 20 years from now, I wish a renowned company founder would be from our hub. Q. Do you have anything to say to the students who plan starting a new company? Director Kim: I don’t think everyone has to jump on the startup craze. But as time passes, firms are looking for talents who can create new values rather than people only capable of performing simple tasks. Ultimately, startups and firms are looking for similar talents. I advise students looking to start their own companies to examine what society needs. Professor Jung: Those who are interested in startups are welcome to visit KUBS Startup Institute. Please attend our lecture series. They really help identifying emerging ideas in changing paradigms and provide an insight into innovation and the essence of becoming entrepreneurs.
Interview with Fall 2016 MBA Valedictorians
Interview with Fall 2016 MBA Valedictorians Jongsoo Nam (11th Class of Finance MBA) Q. What is the secret to graduating top of your class? First, I would like to express my gratitude to my advisor Professor Ji-Woong Chung, all my professors who gave the best lectures, FMBA Manager Min Young Shin who meticulously oversaw all the administrative tasks, and my fellow graduates who have been with me through thick and think. Having an undergraduate degree in Economics and Business and ten years of experience working in financial institutions helped a lot understanding the lectures and getting through the exams. I started FMBA shrouded in vague fear of finance. Fortunately, the professors’ lectures were motivating and easy to understand, alleviating my concerns I had for finance, and ultimately setting the stone for graduating top of my class. Q. What was the most memorable event during the FMBA Program? I thoroughly enjoyed the time in ESADE Business School, Barcelona, Spain, when I partook in the International Residence Program (IRP). I had the pleasure of attending global strategies related lectures given by the best academic staff of business schools in Europe, and had the opportunity to visit interagency and business entities, learning about local support for startups. I also enjoyed the bike tour around Barcelona, visiting a local winery and a football stadium. One the weekend and at dinner, we would visit tourist sites which provided a good chance to become a closer to my friends. Q. What did you take from the FMBA Program? Having taken various courses in banking, finance, accounting, international business, economics, and practical finance affairs, I was able to broaden my horizon on the financial market and cultivate deeper appreciation of other industries’ financial businesses. In addition, relative to my experience as an undergraduate, I was graced with more time to discuss with and consult my professors, at the same time, expanding my network of friends. Q. Could you give a word of advice to prospective FMBA students? The FMBA Program is much more than simply learning about theories. The curriculum consists of reading various cases in banking and finance, staying on top of the latest research trends, and getting hands on practical affairs in finance. Therefore, I am confident in saying that FMBA would provide a beneficial stage supported by the best faculty staff in the country, its systematic alumni network, and academic resource that would train its students to become desirable talents in the financial industry. I hope you would enjoy your time working with others and improving yourself along the way. Sunghyun Park (11th Class of Finance MBA) Q. What is the secret to graduating top of your class? I am glad that I finished my one year program with the Dean’s Award. The FMBA professors helped me manage the challenging subjects and obtain good grades. Every lecture, the students would check each other to make sure we have understood the content, and expound on the more difficult topics. I was motivated to focus during the lectures, and I found the group projects very meaningful. We were asked to apply the theories and topics we have learned on real life cases. This taught me that book lessons can transcend their face value to become applicable in practical affairs. Q. What was the most memorable event during the FMBA Program? I liked the professors’ lectures, but I remember spending time with my fellow students the most. My memorable experiences include exchanging gifts with my friends at the year-end party in lecture halls, attending IRP in Spain, and having steamed snow crab on the beaches of Sokcho. Q. What did you take from the FMBA Program? The FMBA curriculum shares many similarities with practical affairs so the program would help when doing actual work in companies. Lectures on valuation, administrative accounting, and analysis of financial statements gave me a better understanding of credit-rating. Also, undertaking international finance related courses helped to deepen my outlook on foreign exchange. I believe that the knowledge I have accrued from these courses will be valuable in the future allowing me to have a better understanding and more effectively executing new tasks. Building on what I have learned from FMBA, I intend to implement policies that would help exporters. Q. Could you give a word of advice to prospective FMBA students? To some students, the one year time frame would appear to be short, but the time spent at KU FMBA is an invaluable experience many wouldn’t forget. I hope students would be relieved from the pressure to be successful in life and genuinely enjoy their time with their new friends. In a year’s time, they would find themselves matured more so emotionally than intellectually. Yoon Hee Hong (11th Class of GMBA) Q. What is the secret to graduating top of your class? I left work to enroll in the GMBA program, so I was determined to be active and work hard. But as a life sciences undergraduate, there were numerous materials I didn’t understand from the first day. Eventually, I had to rely on the help of my professors and my classmates who have relevant degree. I think I also learned a lot from class discussions with people from different majors and various work experiences. I would like to thank Professor Yong Keun Yoo who has helped me a lot through the year. I also look back fondly at the time spent discussing career options with my friends and the encouragements I received from the 11th Class of GMBA students. Last but not least, I am indebted to my husband who has been bedrock of support ever since I made the decision to quit work to enroll in the GMBA program, and it is because of him and our family I was able to graduate with such promising grades. Q. What was the most memorable event during the FMBA Program? I have made many fond memories over the past year: the orientation where we performed Sa-bal-shik (a tradition where incoming students drink a bowl of Makgeoli and soju) and learned FM; KU-Yonsei Games that brought us closer; and the IRP in Barcelona followed by a friendship travel. The most memorable experience was my time in ESADE where I participated in IRP for. I had the chance to learn about foreign markets and policies. I also remember preparing a mock presentation on foreign attraction with my group members. Q. What did you take from the FMBA Program? In the GMBA program, I made friends with people whom I believe will work in diverse fields, and my class discussions with this cohort provided a stage to share information and experience. I was also able to extend my network of friends to include people working in my field. My plan is to return to my work to apply my newly acquired knowledge and network and ultimately further my career. Q. Could you give a word of advice to prospective GMBA students? I would like to congratulate the 12th Class of GMBA students. I can assure them that one year will fly by. People who maintain their passions to learn and experience new things will graduate having obtained their originally desired knowledge and network. I hope they will be able to have many memorable experiences with their new friends. I look forward to seeing the 12th Class of GMBA students in upcoming school events.
[Special Interview: LINC+ Project] Dreaming of Becoming Korean Silicon Valley with Innovation and Coexistence
Special Interview: LINC+ Project l Associate Dean for Research Jae-Nam Lee Dreaming of Becoming a Korean Silicon Valley with Innovation and Coexistence Korea University (KU) has been selected by the Ministry of Education in its “Leaders in Industry-university Cooperation Plus (LINC+) Project.” To solve unemployment and labor shortages, five departments including △Korea University Business School (KUBS), △ College of Engineering, △College of Health Science, △College of Informatics, and △School of Art & Design have participated in the project and have received 3.2 billion won worth of funds. <KUBS Journal> asked KUBS Associate Dean for Research Jae-Name Lee about the purpose of the program and the future plans of KUBS. Q. What are the features of the LINC+ Project? The LINC+ Project strives to achieve two goals. One is providing undergraduates and graduates with jobs or encouraging them to establish startups. The other is collaboration with local community. The essence of LINC+ is developing “Anam-Hongreung Silicon Valley” into a “Korean Silicon Valley.” The Seongbuk area along the regions of Anam and Jongam has high population density, but its business development has been rather slow. This area has a strong basis in educational and research facilities and boasts a huge number of highly skilled workers. It is a huge business asset. Business and academic cooperation between KU and Korea Institution of Science and Technology gives us a glimpse into its immense potential. Another LINC+ objective is to contribute to the local community through the use of local infrastructure. The College of Engineering’s research publications and intellectual properties can identify the needs of the community and provide solutions. For example, they can form a partnership with the SMEs within the area for R&D and provide internships for undergraduates. This coexistence is a big differentiation factor of LINC+. Q. What do you think helped KU to become selected for LINC+? I think there are three main reasons for the selection of KU, a research-oriented institution. First, its local community. The area around KU is not developed. Second, they are looking for research-oriented universities to lead the development of its local community and co-exist. Silicon Valley became the most dynamic place for innovation owning to the support of Stanford University. Lastly, the cluster of industries, universities, and institutions can bring about synergies. Recently, we have formed a partnership between startup-centered SungShin Women’s University, Kookmin University, and their consortium with Kyung Hee University. Q. Among the projects under LINC+, we’ve heard there are many that are being operated under the partnership between Industry-academia Cooperation Foundation, KUBS, and the College of Engineering Department. What kind of businesses are planned? We first conducted a survey on SMEs near KU and individuals to examine what they need. From here, we planned four specialized industries including energy and new materials to expand the students’ opportunities for employment and startups. The main tasks of our business school are supporting startups, seeking domestics and international internships, and developing business cases. In hindsight, most of the projects that LINC+ are planning are already under operation in KUBS. Our business school looks to take one step ahead to identify beforehand what is necessary in actual industries to provide our students with more diverse experiences. Then, we will try to bring our alumni to the school so they can share their experiences with current students. We also aim to put emphasis on field internship and student-centered degree program. For internships, students will not be limited by school semesters. Furthermore, they will be able to develop their own major. For example, a student majoring in mechanical engineering or business studies will develop his own mix of “Design — Engineering — Business.” Contrary to other departments, we seek to provide domestic and international internships, local community project, and an educational program in Industry-academic Cooperation. Q. What are LINC+’s goals and future plans? From educational perspective, we plan to secure experts in industry-academic cooperation. KU is scheduled to employ seven professors of the field this October, and KUBS will look at employing two. We are looking to select those with more than ten years of industrial experience who can actively communicate and have insights into startups, domestic and international internships, and business development cases. In the light of the project, there will be a specific partnerships with nearby industries, universities, and institutions. Primarily, the school will sign an MOU with Sungshin Women’s University and then continue on to develop MOUs with Korea Institute for Defense Analyses, Korea Institute for Industrial Economics & Trade, Kookmin University, Kyung Hee University, etc. Its alumni association will take part in during the process. Also, a membership-based infrastructure will be established. Under the leadership of KU, the school will employ its research environment and facilities to create a synergistic platform that would include enterprise entities. Lastly, we are seeking to include departments other than business studies and engineering sciences to create an “Anam-Hongreung Silicon Valley.” We will create a “Korean Silicon Valley” based on employment, startups, and cooperation with the local community and set an example for the rest of the world.
“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.
[Partner University] Large Influence on Regional Economy…GSU, Research-oriented University
A large influence on the reginal economy…GSU, a research-oriented university Georgia State University (GSU) is part of the University System of Georgia, and the largest institution of higher education out of the University System of Georgia’s four research universities. It is the second largest among 35 colleges and universities in Georgia. As of 2015, GSU has a total student population of approximately 53,000, including 32,082 graduate and undergraduate students. The campus is located in downtown Atlanta and has around 40 buildings, including Natural Science Center, Sports Arena, and dormitories. The undergraduate and graduate colleges consist of △Andrew Young School of Policy Studies, △College of Arts & Sciences, △College of Education and Human Development, △J. Mack Robinson College of Business, △College of Law, △Byrdine F. Lewis School of Nursing and Health Professions, and more. As affiliated institutions and facilities, there are △University Library, △Art Museum △Performing Arts Center, △Digital Arts Entertainment Laboratory, △Language Laboratory, △Economic Forecasting Center, △Observatory, and △Rialto Center. GSU has two libraries, University library and Law library, which hold over 4.3 million volumes combined and serve as a federal document depository. GSU was founded in 1913 as the Georgia School of Technology’s Evening School of Commerce. A reorganization of the University System of Georgia in 1931 led to the school becoming the Atlanta Extension Center of the University System of Georgia. In September 1947, the school became affiliated with the University of Georgia and was named the Atlanta Division of the University of Georgia. In 1955, the Board of Regents made it an autonomous four-year college under the name Georgia State College of Business Administration. As other programs at the school expanded, it acquired its current name Georgia State University in 1969. GSU has so far turned out approximately 175,000 graduates. Notable alumni from the financial world are Ken Lewis, former President and CEO of Bank of America; and Richard Lenny, former CEO of Hershey Foods; among others. Due to its size and influence, GSU has an economic impact on the Atlanta economy of more than $1.4 billion annually. The university offers more than 250 fields of study through 52 accredited degree programs at the bachelor's, master's, specialist, and doctoral levels. Students may enroll in day or evening classes and in part-time or full-time study. In 2013, GSU was one of six universities in the nation named a "Next Generation University" by the New America Foundation for its commitment to high-quality research and the success of its ethnically diverse student body, and received approximately $58 million in external research funding. View Related Article [Study Abroad Story] GSU, University with Diverse Curriculum — Soohyun Cho (Business, ’15)
[Study Abroad Story] GSU, University with Diverse Curriculum — Soohyun Cho (Business, ’15)
GSU, a university with a diverse curriculum I attended Georgia State University (GSU), located in Atlanta, Georgia, during my spring semester of 2017. I chose GSU after considering its location, classes, and weather. To begin with, the public transportation system in Atlanta is convenient. Also, GSU has many courses that are approved as major courses compared to other universities. Since I am especially sensitive to cold, the warm weather of the Southern United States gave more reason to choose GSU. GSU is a state university and is located in downtown Atlanta. GSU’s student body is ethnically diverse, and its business school is well known with a variety of different classes. There is a well-established student welfare system at GSU. I felt that the university always cared for students. It provided a lot of special lectures and information to make it easier for us to get an internship or a job. The university also has a good sports hall and actively encourages students to participate in sport activities. For instance, the “Touch the Earth” program lets students experience activities such as rafting, horseback riding, and hiking or traveling to places nearby. Buying an Atlanta City Pass and traveling around is also a plus. Students can visit many places such as the World of Coca-Cola, the Georgia Aquarium, and the CNN Studios. GSU is located in a good spot to easily travel to other areas. I wanted to take many courses that are offered in the U.S., not in Korea, so I ended up taking six courses. However, unlike Korea, the frequent quizzes and tests were quite a workload. Also, universities in the U.S. require a lot of prerequisites. So, if you take many courses in Korea before going as an exchange student, you should be able to take classes without restriction. The course I wanted to take the most was <HADM 3010 Perspective Hospitality Industry (Kyle Townsend)> because hospitality was an area that I had not heard of — not only Korea University but also in Korea as a whole. Many topics such as hotels, restaurants, room division, tourism, and casino were dealt in the class. We had to do a restaurant review as a team project, which was very interesting. There were also a case study assignment and an online quiz every week. The final exam was cumulative but the professor gave guidelines beforehand so it was not too difficult to study. The course <HADM 3750 Hospitality Human Resources Management (Debby Cannon)> was also interesting. This course covered personnel management within the field of hospitality. Because many of the U.S. students have interest in career since a young age and have part time jobs, the professor frequently asks the students’ opinions during class. Listening to the experience of my classmates allowed me to grasp a more vivid picture of what I learned. Atlanta is a great place to live because people in the city are extremely friendly. Thanks to the GSU students who were always helpful and came to me first, it was easy for me to fit in. The professors were also supportive by answering my questions and replying to all emails. I met many great people and had such a good time in GSU which made me want to stay even more. Soohyun Cho (Business, ’15) View Related Article [Partner University] Large Influence on Regional Economy…GSU, Research-oriented University
“An MBA with the Best Global Networking” – Interview with the 9th Class of S³ Asia MBA Seung Bin Hong and JiYeong Hwang
Interview with the 9th Class of S³ Asia MBA Seung Bin Hong and JiYeong Hwang “An MBA with the best global networking” Korea University Business School’s S³ Asia MBA Program (AMBA) is a program specialized for Asia and is jointly run by Korea University (KU), the National University of Singapore (NUS), and Fudan University (Fudan). Every AMBA student agreed, saying: “There are many opportunities to meet new people from Fudan and NUS, and since all of them live abroad together, we get to experience each country’s culture in depth. This makes AMBA the best program for those who wish to do business in Asia.” We met two students from the 9th Class of AMBA, Seung Bin Hong and JiYeong Hwang to talk about the AMBA Program and its networking. Q. You completed your first semester at Fudan, and your second semester at Korea University is almost at its end. How was your experience with AMBA? Seung Bin: It was much more helpful and satisfying than I had thought. To begin with, the curriculums at the three universities — Fudan in China, KU in Korea, and NUS in Singapore — have different concepts. Fudan focuses on the basics. It has the advantage of learning various basic courses through the perspective of a Chinese professor. The KU’s curriculum is more intensive. Advanced learning based on basics such as Management Accounting, Financial Accounting, and Operation Management take place. In Singapore, we learn electives in detail. JiYeong: Agreed. A great advantage is that we can directly experience the different characteristics of the three countries and the three universities. Because we took the basic courses together with students from other MBA programs at Fudan, we experienced both small- and large-sized lectures. Since the courses at KU are more intensive, most of them are small-scale classes with fluid discussion between students and professor. Furthermore, at NUS, we can select varied electives based on our future career paths and what we learned at Fudan and KU. I think all of the curriculums are well established. Q. Many people pointed to the “network” as one of the strengths of Korea University’s MBA programs. Do you think the “network” is applicable to AMBA as well? JiYeong: Actually, the small number of students was one thing that worried me the most when applying for AMBA. Because there were about 30 students including 10 Korean students and international students, I was concerned that the networking might be too narrow. But it turned out to be needless worry. While attending Fudan, I took classes and ran projects with students from other MBA programs such as International MBA and felt the university provides an open environment. The networking was extremely diverse since there were students from all over the world including Asia, Europe, and Canada. Seung Bin: That’s right. Through AMBA, I was able to build a strong network with friends from China, India, and Singapore. The depth of the network is also a huge benefit. The network was not vague or shallow but rather long-lasting because it was created while living together. In fact, the Korean students helped other students during the semester in Korea and the Chinese students during classes in China and so on. I also think using Fudan’s alumni program will be very advantageous when doing business in Asia. Q. What networking activities are included in AMBA? Seung Bin: Since we studied at KU this semester, Korea students provide a variety of activities for international students. We went skiing last winter and recently, we visited Jeju Island. We also wore a hanbok (traditional clothing of Korea) and went on a Gyeongbokgung Palace Tour. A sports event jointly hosted by AMBA, GMBA, and FMBA — other MBA programs at KU — was held to build a network. JiYeong: A networking program at NUS called “MP (Management Practicum)“ provides consulting service to NUS graduates’ company. The program is in line with an internship. You can do an internship during the semester and experience real-life business. This program is extremely useful as it can lead to a full-time job. Q. Are there any changes thanks to the network you built through AMBA? JiYeong: I used to think I knew quite well about being “global.” But through the AMBA Program, I realized that “global” I knew was only the tip of the iceberg. Living abroad and exchanging ideas while studying in groups led me to a deeper understanding of the culture of a foreign country. My thoughts about Asia in general also changed. I came to look at not exclusively China but also India and Southeast Asia, where we have an overseas Chinese culture in common. Seung Bin: I asked Professor Jaiho Chung, who is our Program Director and a professor of International Business, how should one do business in a foreign country. He answered, saying “It becomes much easier when you understand that country’s culture.” While doing AMBA, I was able to have hand on experience of what that really meant. The AMBA Program does not skim the surface but makes you learn a lot through sharing culture, lifestyles, and even ways of thinking. Thanks to this, I was able to gain confidence about doing business abroad. Q. Lastly, do you have any words to prospective AMBS students? Seung Bin: If you are certain with your goal, there is nothing to hesitate about. However, if you simply want to change your entire life through an MBA program, I would not recommend it. You will be able to gain a great deal from AMBA, but only when you start it after you think thoroughly enough about your life. I would say to think of it as a catalyst rather than an escape. JiYeong: If you are thinking about doing business with China, I can boldly state that AMBA is the best in Korea. You have nothing to worry about the networking at AMBA. From China through Singapore, an environment to meet new people from around the world is always open. ABMA students are having a good time in China and Korea (photo by Hyewon Lee from the 9th Class of AMBA)
“GMBA, Intensive Career Development Program” – Interview with the 11th Class of GMBA Jonghwi Bae, Jonghwa Jung, and Leah Cembrano
Interview with GMBA students “GMBA is an intensive career development program” As Korea University Business School (KUBS) became a full academic member of CEMS, an alliance of prestigious business schools, the GMBA Program has been restructured. The name of the program changed from “Global MBA” to “GMBA,” and it is divided into three tracks: △CEMS MIM (Master’s in International Management) Dual Degree Track, △EBS/ESCP MIM Dual Degree Track, and △MBA Single Degree Track. Students who complete an enrolled track can obtain an MBA degree (GMBA). Also, depending on the track, they can earn a dual degree from △CEMS, △EBS in Germany, or △ESCP in France. We interviewed three students from the 11th Class of GMBA, Jonghwi Bae and Jonghwa Jung enrolling in the GMBA Single Track and Leah Michelle Cembrano in the CEMS MIM Double Degree Track and talked about the past six months. (from left) The 11th Class of GMBA Jonghwi Bae, Leah Cembrano, and Jonghwa Jung Q. Why did you decide to apply for an MBA? Jonghwi: I worked in the Procurement/Planning at LG Display for a little less than four years. Before having a job, I already had plans to undertake an MBA. While working at the company, I realized I wanted to work on a more general level, planning new business projects, rather than being involved in business units. So, I left work to take an MBA program in Singapore, but after a semester, I decided that doing an MBA in Korea would be more beneficial to my career prospect in Korea. Hence, I applied for an MBA program in Korea. Leah: I stayed in Korea for two years to learn its language and culture. As I got exposed to Korea culture like K-Pop through the media, I became interested and decided to come to Korea. The main reason I chose Korea University’s GMBA & CEMS MIM is that I can study in both Korea and Sydney and receive two degrees. Studying with diverse international students from Europe, the U.S., Australia, and Singapore was appealing as well. Lastly, the program allows me to complete the track in a short period of time – one year and a half – and develop a career. Q. Why did you choose Korea University's GMBA Program? Jonghwa: After deciding to pursue an MBA in Korea, I only considered the one in Korea University. Many of the senior managers at my workplace graduated from Korea University. KU’s unique, close culture of networking had been extremely helpful. Also, KU’s GMBA is considered the most reputable MBA program in the nation. Jonghwi: To be honest, I got into an MBA at another university in Korea, but I chose Korea University. Despite the fact that I used to work at an accounting firm, the reason I applied for GMBA over FMBA is because it provides an environment for speaking English and studying overall business administration. Q. How were your GMBA classes for the first semester? Jonghwi: GMBA is a year-long program, so it’s a bit of burden to take many classes in such a short time. The good thing, though, is that I get to focus on my studies in a short period of time and thus learn more. Also, it is an advantage to improve your English skills because most of the classes are given in English. Jonghwa: One of the strengths of GMBA is that I get to meet students with diverse backgrounds. I was able to learn many things in terms of knowledge and attitudes when doing a team project, presentation and discussion. Leah: As Jonghwi said, I thought the classes were pretty though as the program was conducted intensively. However, the quality of the classes are much better than I expected. I was pleased to take classes with Korean students and international students with different backgrounds. Q. What is the most memorable class you have taken? Jonghwi: I would say “Financial Accounting” taught by Professor Yong Keun Yoo. The classroom atmosphere was comfortable, and Professor Yoo easily explained accounting to students who do not have an accounting background. He also selected important accounting knowledge required for business and taught us well. Jonghwa: Most of the classes were great. Among them, “Operation Management” by Professor Hojung Shin “Financial Statement Analysis” by Professor Jinbae Kim are still fresh in my mind. While taking these classes, I believed these would be very useful to my career. Leah: I liked Professor Jay Hyuk Rhee’s “Global Strategy” class. Professor Rhee knew a broad range of topics and delivered various cases in class, which was very informative. Q. What is the best thing about GMBA? Leah: There are many things to learn from my classmates who used to work at a Korean conglomerate such as Samsung, LG, and Hyundai. Since we took classes together all day long, we got close to each other and became comfortable. Also, KUBS provides very well-equipped facilities. Jonghwi: After entering KUBS, I was able to have a broader perspective by meeting various people. Some of them lived abroad for a long time, some had a diverse background, and some are foreigners. For example, I learned golf for the first time from one of my classmates who is a professional golf instructor. One of the advantages of this program is that we can learn a new thing from each other, which we’ve never experience before matriculation. Jonghwa: I also liked the fact that I was able to meet many people. Besides that, I enjoyed Korea University’s unique culture called “Makgeoli Culture.” In the past, I used to not enjoy hanging out and drinking with other people because I tend to be an individualist. But after I entered GMBA, I got along with my classmates and made a long-lasting, strong bond through its unique culture. Q. What are the top priorities to consider when planning to enter an MBA? Jonghwa: Prior to entering an MBA program, you should think about whether you are ready to experience something new that you’ve not experienced before and whether this program is truly beneficial to you. Because GMBA is a one-year intensive program, it is obviously though, but at the same time, you will be able to complete the program in a short amount of time. Moreover, you can expand your knowledge more and have a close family-like relationship with your classmates. Jonghwi: I think the first thing to consider is “the quality of a university” in the end. University’s reputation and network, which can be recognized after graduation, are the most important matters.
“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)