[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 / Chairman of the Board of Social Science Academy, Former director of IBRE (15th)

First of all, I sincerely celebrate the 60th anniversary of IBRE. IBRE was founded on June 1, 1958, the year when I entered Korea University. The special bond between IBRE and me has started in August 1962 when I completed the military service. Professor Hyo Rok Kim and professor Byeong Ook Yoon, deputy director, advised me to temporarily work for the public relations department. I was responsible for a wide range of publications during my term at IBRE, such as 6 volumes of ‘The Complete Collection of Business Administration’, 6 volumes of ‘The Complete Collection of Accounting’, ‘A Compendium of Business Administration’, as well as editing of ‘Monthly Research Journal of Business Administration’. I was also in charge of the request of the manuscript and 4 times of correction.
Later on, I served as the head of the department of newspaper publication for ‘Korea University Business Journal’ with Changgyu Hwang, assistant administrator (later professor at Sookmyung Women’s University and Dongguk University). After the start of my postgraduate degree, I was able to work as an official researcher of IBRE and appointed to the manager of the general affairs department. After my study in the United States, I became a full-time professor at Korea University, as well as the advisory committee members, member of the board of directors. Later I was appointed as the director of IBRE in 1987. Since I remained as a counselor of IBRE until the retirement even after the term. So basically, I worked for IBRE eight to nine years longer than I worked as a full-time professor at KUBS.

Led by the late professor Yoon, Byeong Ook, IBRE was the core institution of the Korea University Business School. At the time of the establishment, there was no specialized research institute in Korea. Therefore, each and every external activity carried out at IBRE were "Korea's first". In addition to the Korea's first business assessment, cost accounting, industry census on mining and manufacturing, management indicators of small and medium-sized enterprises, etc., as well as the command and control system handbook and Korean Army's command and control system manual and administrative reform of the government were also one of the IBRE’s tasks.
Not many know the fact that all these plans were approved and established by the government. Another remarkable thing to note is that establishment of ‘Korea Institute of Science and Technology Information’ as an independent institution was led by the late professor Yoon, Byeong Ook. ‘Korea Institute of Science and Technology Information’ is founded with an ambition to set up a research institution that is comparable with KIST. While I was serving the term as a director of IBRE, I was working on the research assistance of professors and founding commemoration projects, celebrating the 30th anniversary.

In commemoration of the 30th anniversary of the foundation May 1988, 43 distinguished scholars in Korea and overseas participated in the international symposium, holding enthusiastic discussions and presentations. Professors at the University of Southern California (USC) IBEAR, as well as professors from Seoul National University and Korea University participated in the symposium. In the following year, 27 domestic and overseas professors participated in an international conference held in USC.

The last thing I would like to talk about is the international conference IBRE held in collaboration with the ‘Economic Growth Center" and ‘East-Rock Institute’ at Yale University in November 1988. Professor at Yale University, Seoul National University, and Sogang University, and the author participated in the event. Since the above three international conferences were the largest international conferences held at IBRE, it is worth to keep it recorded.
Congratulations again for the IBRE’s 60th anniversary, all my best wishes to further achievements of IBRE.

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