[The 60th Anniversary of IBRE] Memoirs of Professor Emeritus - Professor Emeritus Cho, Ik Soon, Professor Emeritus Jee, Chung
Jul 05, 2018
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[The 60th Anniversary of IBRE] Memoirs of Professor Emeritus
Professor Emeritus Cho, Ik Soon, Professor Emeritus Jee, Chung
Cho Ik Soon, Professor emeritus / Former Director of IBRE (7th, 8th, 14th)

It is such an honor to be a part of the 60th-anniversary celebration of the establishment of IBRE (Institute for Business Research & Education). On this congratulatory remark, I would like to highlight the context of the establishment of IBRE, which was in fact quite demanding at the period of time. I do not think there is anyone who probably knows.
After the Pacific War, there have been movements in rationalizing the existence of Japanese enterprises operated in the U.S. In particular, the United States Operations Mission (USOM) asked Professor Yoon, Byeong Ook, who has just returned from Germany after his study, for theoretical justification of the operation of Japanese enterprises. The USOM paid attention to the ways in which the management of Korea’s Armed Forces had been justified after the Korean War. The USOM also focused on how Professor Yoon was in charge of business justification seminar that was requested by employees at enterprises from the enemy country. So these were the context of the establishment of the very first business research institute from the best and largest university in Korea.
In the beginning, IBRE’s main tasks were to conduct a business assessment, market research, business justification seminar, cost accounting as well as a range of publication in business administration. IBRE was indeed a pioneer in this respect as well. Since the institute carried out quite a lot of projects, researchers at the Business School worked together with professors to complete the tasks.
The performance of IBRE was successful in every task, which demonstrates its position as the best university-affiliated research institute in Korea. I will point out few of the key achievements of the institute.
First of all, a large number of the researchers at IBRE were appointed as professors at the College of Commerce in the early stage of the adaption of the modern tertiary education system in South Korea. More specifically, the number of confirmed researchers at IBRE who were later appointed as professors is 41; there are 20 more whom I need the confirmation.
The second thing I should point out is cost accounting. In fact, one of the researchers at IBRE, Mr. Oh-Gil Choi, became a founder of a business. It is obvious that projects he was working on at the research institute, such as cost accounting projects for pricing a product in an automobile business and business analysis allowed him to be familiar with the overall operation of the automobile business. The projects on cost accounting provided a strong foundation for running his own business later on.

Furthermore, I should also point out the achievement of the IBRE is the inspection of the state-owned enterprise in January 1970. There is a news report of the content of the inspection on January 19, 1970. Ik Soon Cho is appointed as the chairman of the Audit Committee of the Government's management enterprises, Sangman Lee, a professor at Seoul National University, as the first Lead Manager, and Yoonkyung Shin as the second lead manager. Work is divided up by National Tax Service (Investment and Construction Management), Productivity Center (Production Management, Sales) Industrial Management Research Center at Chungang University (analysis of business plans and results), IBRE at Korea University (cost management, financial accounting, management), Industrial Management Research Center at Yonsei University (human resources, organization and administrative affairs management). Professor Youngyun Yoon and professor Jangchun Ha from Korea University handled auditing practices and integration of audit reports for each field. I was in charge of the comprehensive report. This triggered IBRE to evaluate the annual business results of the government investment institution, and based on the results, was responsible for the government's decision on the year-end bonus payment rate.

The last thing to mention is the computerization of financial data of listed companies and the research on the creation of databases contributed to the stock market’s development. Professor Sang Koo Nam was the chief of the research.

These are only just a few key achievements of what IBRE has accomplished since its establishment; much more has been done, the institute has made the constant contribution to South Korea’s economic development. I am sure IBRE will continue its position in the future: the very first and the largest, No.1 business research institute in Korea.

Professor Emeritus Jee, Chung /