KUBScholars Open Seminar in June (Study Abroad Prep Program)
KUBScholars Open Seminar in June (Study Abroad Prep Program) On June 5 at Room 210, LG-POSCO Building, the Business School’s study abroad preparation program ‘KUBScholars’ (academic advisor: Professor Byung Cho Kim) had its open seminar in June. The guest speaker was Jae-Pil Lee (Business ‘09), who is a prospective doctoral candidate in Economics at Carnegie Mellon University. After he graduated from Korea University Business School in 2015, Mr. Lee signed up for KUBScholars to prepare for his study overseas. He then started his master’s degree at London School of Economics in 2016 and graduated last year. The topic of his lecture was ‘My Studying Abroad Experience: Tips and Advice’, where he shared his experience of studying overseas with the audience. In the Q&A session afterward, the participants raised some of the practical questions. As regards who to request the letter of recommendation, Mr. Lee responded “I suggest you to request of the letter to your academic advisor, but I would also suggest you to request the letters from the professor of the courses you were good at, as well as professors you are close with.” He added, “As long as you are committed, I think it is a good idea to planning a career in academia. Do not worry about your weakness – you will figure it out.” KUBScholar program is designed to assist students with academic life abroad, offering useful tips and information through the mentoring program. Seminars are delivered by academics who have overseas studying experience. For further information, please contact via email to KUBScholars President Hyunji Lee (email@example.com).
The 60th Year Celebration Ceremony for Korea University IBRE
The 60th Year Celebration Ceremony for Korea University IBRE The Business School had the 60th year celebration ceremony for Institute for Business Research and Education (IBRE) on the 1st of June at Ahn Young Il Hall, LG-POSCO Building. Over 60 participants attended the ceremony, including KUBS Dean Soo Young Kwon, Director of IBRE Professor Chan Su Park, Emeritus Professor Ik Soon Cho, Emeritus Professor Soo Sik Sin. Professor Jungbien Moon hosted the ceremony, and the ceremony was held in the order of △Opening remark △Congratulatory speech △Banquet and Congratulatory performance. On his opening remark, Director of IBRE, Professor Chan Su Park said “Celebrating the 60th anniversary of the foundation of IBRE since 1st of June, 1958, I would like to thank all the effort and contributions you gave us, and we will make sure to keep our constant work. Then the ceremony was followed by congratulatory speeches from Korea University President Jaeho Yeom and the Business School Dean Soo Young Kwon. On his video message, President Yeom said “The Business School was a pioneer who started the very first institute for business research and education when the term ‘business administration’ was not even widely used in South Korea. I hope IBRE will keep up the spirit of being the pioneer, aiming at the world best business research institute.” Dean Kwon also congratulated the ceremony by adding “IBRE has contributed to society in that their advanced researches by academic staffs improved business studies in Korea, and they facilitate education programs for executives of firms. Korea University’s IBRE played a key role in the overall improvement of Korea University Business School and Graduate School of Business.” Emeritus Professor Ik Soon Cho, who were the 7th, 8th and 14th director of IBRE, added his commemorate speech as well. Emeritus Professor Cho pointed out the key achievements of IBRE as the appointment of IBRE researchers at universities in South Korea, and cost accounting. Professor Cho said, “The contribution that IBRE had on economic development in Korea for the last 60 years is quite remarkable. I hope IBRE continues to be the longest and the best research institute. After a cake cutting ceremony by Dean Kwon, Director Professor Park, and Emeritus Professor Joon Bum Lee, the participated professors and administrative staffs had a banquet. The ceremony ended with a performance of Professor Dong Seop Kim (Baritone, Department of Voice at Daegu Catholic University).
[2018-1 Sudang Digital Library Database Session] Information Session on KIS-LINE, KIS-VALUE
[2018-1 Sudang Digital Library Database Session] Information Session on KIS-LINE, KIS-VALUE On June 1, KUBS’s Sudang Digital Library had its third database information session at Room B307, Hyundai Motor Hall for 2 hours from 1 pm. This session focused on /KIS-LINE (financial statements and credit information of listed companies in the domestic market) /KIS-VALUE (download of mass industrial information of companies in the domestic market). The guest lecturers were General Manager Hyung-Nae Roh and Assistant Manager Jae-Hong Kwon at NICE Group, with participants of 15 undergraduate and postgraduate students. Both KIS-LINE and KIS-VALUE are services provided by NICE Group, which is the top financial service business in South Korea. KIS-LINE is a portal service that allows search and analysis of an extensive database of companies, industries and financial institutions. On the other hand, KIS-VALUE is a program that offers an evaluation and research service using business’ financial statement and stock market data. Mr. Hyung-Nae Roh explained what each column means suggesting an example of a company. He pointed out that it is important to have a close look at ‘watch ratings’, when determining the rating status from ‘Company Overview’ category. He added, “Unless there is an unusual event, you can get the company evaluation rating valid for the whole year because the final financial statement is released once a year. That is why it is important to monitor the early warning system - ‘watch rating’ every day. Mr. Jae-Hong Kwon then explained how to set up KIS-VALUE program. He added, “Since the main objective of KIS-VALUE is to draw a conclusion out of its data analysis, you need to be able to use excel.” Mr. Kwon then went through a detailed instruction of how to use executive keys that are shown above when you click the program. One of the participants, Hye-Yeon Yook (PhD candidate, Marketing ‘10) commented that “it was a quite informative session to learn basic instructions of how to use KIS-LINE and KIS-VALUE. I will look forward to further sessions.”
Celebrating Teacher’s Day, Teacher Appreciation Banquet for Emeritus Professor
Celebrating Teacher’s Day, Teacher Appreciation Banquet for Emeritus Professor On May 18th at noon, the Business School held a Teacher Appreciation Banquet for emeritus professors. This banquet is one of our official events celebrating teacher’s day (5/15). Participants were △Dean Soo Young Kwon △Associate Dean Kyung Sam Park △Associate Dean Jae-Nam Lee △Associate Dean Jong-Ho Lee, inviting △Emeritus Professor Ho Jin Kang △Emeritus Professor Wan-Soon Kim △Emeritus Professor Sang Koo Nam △Emeritus Professor Soo Sik Sin △Emeritus Professor Kwan hee Yoo △Emeritus Professor Se Hwan Yu △Emeritus Professor Young-Sup Yun △Emeritus Professor Jang Rho Lee △Emeritus Professor Joon Bum Lee △Emeritus Professor Jin Kyu Lee △Emeritus Professor Chung Jee. Dean Kwon thanked the emeritus professors, “We are very aware of your thoughtful and continuous care for the Business School.” “We deeply appreciate your hard work for the Business School. We will make sure to remember your effort and do our best to the School improvement.”
[Global CEO Lecture Series] Young-Sik Kim, CEO of PwC Korea… “A Great Way to Broaden Your Career Options: CPA”
[Global CEO Lecture Series] Young-Sik Kim, CEO of PwC Korea… “A Great Way to Broaden Your Career Options: CPA” On May 31st, the Business School invited the last guest lecturer for our Global CEO Lecture Series at Supex Hall, LG-POSCO Building. With the guest lecturer Mr. Young-Sik Kim, CEO of PwC Korea, the last special lecture discussed ‘CPA and Accounting Firm’. Mr. Kim is one of our proud KUBS alumni (Business ‘75) who joined Pwc Korea in 1978 and achieved an exceptional performance since then. He is currently a director of public relations at the Korean Institute of Certified Public Accountants (KICPA), and a member of evaluation committee at the Ministry of the Interior and Safety. In 2003, he won commendation for his great services from minister of Finance and Economy. Mr. Kim started his lecture by a discussion of the context behind CPA (Certified Public Accountant). He explained, “you can think of CPA as a supervisor of capitalism who looks out for an overall performance of a business’ operation via business accounting in particular. There has been an increasing emphasis on transparency in accounting. As a consequence, the importance of the role of CPA is increasing, too.” And since CPA is literally a certified accountant by law, it is pretty safe to assume that you have competitiveness in the job market once you pass the CPA exam. Mr. Kim also pointed out that certified public accountants develop a wide range of professional expertise. Since certified public accountants work with clients from diverse industries, you have to develop different knowledge and skills for different tasks. He added, “Generally most jobs ask you to do similar tasks every day. CPAs, however, learn different knowledge and skills to work on each project, so it is a great job to keep an enthusiastic mind.” In addition, it allows you to develop a professional and client-oriented attitude, as well as communication skills. The guest lecturer picked enthusiasm and professionalism as the two most important attitude of employees at accounting firms. By enthusiasm he meant keeping up a hard work but he also emphasized keeping a healthy attitude that is open to other people’s ideas. Mr. Kim explained, “Accounting firms are highly demanding environment, which require you to develop professional expertise.” “Your level of knowledge in the industry matters when meeting the need of clients.” Often employees at accounting firms work at overseas branches because of the size of domestic demand for accounting firms in South Korea. “Out of the world’s accounting firm industry, the market size of accounting firm in South Korea does not exceed 1%. Therefore, the global competitiveness is crucial if you would like to work for an accounting firm. There are mainly two pathways if you start a career at an accounting firm. One is client service focused specialty and the other is advanced research-based specialty. You will be assigned to either pathway depending on your specialty. Mr. Kim added, “The classification of tasks at accounting firms includes audit, taxation, M&A and so on. So you will be able to build your specialty as you learn from few different departments.” Nevertheless, Mr. Kim advised the audience to be careful not to think of CPA as your final goal. He explained, “I strongly suggest you to think of CPA preparation as one of stages in your career plan. The CPA exam preparation will be a great way to learn how a business works and how industries operate. It will be a great step to build your career.” “As long as you think about the step afterwards, I can guarantee that CPA preparation will be a great tool that allows you an intensive learning of overall industries.” The guest lecturer concluded his lecture by stressing the importance of perseverance to the audience. “I cannot stress this enough - continuous learning. But this has to be autonomous learning, not something that is done involuntary” he added.
[2018-1 Sudang Digital Library Database Session] Information Session on Bloomberg Use
[2018-1 Sudang Digital Library Database Session] Information Session on Bloomberg Use On May 31st, the Business School’s Sudang Digital Library held its second information session on database use at Hyundai Motor Hall, Room B308. The information session was mainly on ‘Application of Market Data: Stock, Bond, and Derivative Products’. A total of 15 undergraduate and postgraduate students participated in the information session held by Sukmin Lee, relationship manager at Bloomberg. Bloomberg is a financial software, data, and media company in New York, United States. Founded by Michael Bloomberg in 1981, Bloomberg is now one of the most trusted news agencies in the world, which reports and sells information to over 140 thousand subscribers from 91 countries. Application of Bloomberg Program Mr. Sukmin Lee started the information session with detailed instructions on how to use Bloomberg database. He pointed out three most useful functions, △LANG △DES △FLDS. He explained that their sub-functions △Function △Ticker △Field will be useful as well. The session also guides the audience how to use the master key, providing some practical guidelines to the participants. The guest lecturer Sukmin Lee added “I am sure database information sessions can be quite helpful to students. I hope you will pay constant attention to the use of the database.” One of the participated students, Ji-Soo Kim (Management ‘17) commented “I came to the session for a better understanding of database use for my thesis. It was a very informative session and I think I will be able to use the tips for my research.”
[Startup Institute Lecture on Demand #2] “Differentiate Your PR Strategies”… Eun-Hye Shin, Manager of Communication Department at SK Happiness Foundation
[Startup Institute Lecture on Demand #2] “Differentiate Your PR Strategies” Eun-Hye Shin, Manager of Communication Department at SK Happiness Foundation On May 29th, KUBS Startup Institute invited guest lecturer Ms. Eun-Hye Shin, manager of Communication Department at SK Happiness Foundation for the Startup Institute’s ‘Lecture on Demand’ series. Inviting a wide variety of guest lecturers in business practice, the lecture series was designed to provide practical tips and advice to the audience. Ms. Shin started her lecture by emphasizing the importance of public relations. By public relations, she meant ‘a business’s strategic behavior that conveys ideas and concepts to the target group, aiming at the expansion of business’. She suggested 3 main reasons why public relations is important in the practice of a business: △Low capital △Credibility △Archiving. Ms. Shin pointed out, “In particular, researches have shown that credibility built by public relations strategies is three times more effective than that of advertisement. You should be able to make the most of PR strategies.” Ms. Shin then shared some useful strategies to build an effective relationship with the press. She explained how to present your business to the press, what to do in the initial stages of the relationship, and useful tips that can increase articles of your business. Details include △show respect for journalist’s privacy – be careful not to waste their time △keep a grounded relationship △make sure your report is simple and precise △avoid asking them for a press coverage during the time of a big political or social event. Ms. Shin advised the audience, “Always make sure not to make a mistake because a tiny mistake can potentially jeopardize the business relationship with the press.” In addition, Ms. Shin discussed some important strategies on how to differentiate your business on a press release. Above all, she emphasized △No.1 or Only 1 rule’: highlighting being the first at something, even if it requires you to narrow down the relevancy △‘Me, too rule’: taking advantage of a conflict relationship with the major firms △‘Trend rule’: coining a new, eye-catching term so you can be a pioneer in the market △‘Number/Statistic rule’: stressing the statistical and numerical data based on facts △‘Inspiration rule’: delivering an inspirational story related to your business. Ms. Shin explained, “you know how there are hundreds of press releases each day, make sure your business stands out. The Business School’s Startup Institute holds practice-based lecture series ‘Lecture on Demand’ about startups and business venture, each semester. Anyone interested in the KUBS startup business teams and any KUBS students are welcome to participate in the lectures. For further inquiries, please contact KUBS Startup Institute at 02-3290-2551.
[2018-1 Sudang Digital Library Database Session] Information Session on Datastream, SDC Platinum Use
[2018-1 Sudang Digital Library Database Session] Information Session on Datastream, SDC Platinum Use On May 28th, the Business School’s Sudang Digital Library held its first information session on database use from 1 to 3pm at Room B307, Hyundai Motor Hall. The session mainly focused on △Datastream (business’ financial statements and other indicators) △SDC Platinum (business securities and M&A data). 15 undergraduate and postgraduate students participated in the session conducted by Hye-Mi Jeon, assistant manager at the Department of Finance Information. Datastream and SDC Platinum both are business index database offered by ‘Thomson Reuters’, a multinational mass media and information firm. An economy’s business indicators and financial statements can be found from the database. The session was designed to provide instructions on how to use Datastream and SDC Platinum. First of all, Datastream enables data analysis using excel. To analyze data, it is first required to find the correct code that represents data. There are mainly 3 ways to find the right code. Ms. Jeon explained, “You need to start off with searching by keyword. It is a great way to search for a specific business. However, it is not the best idea If you are looking for a specific business index.” The second way to look for a business index is to search by clicking the ‘explore’ button. This method allows you to compare business indexes from few countries, and to find information of key economy or business index of a country. The last method is to search by single category. It is the best way if you are looking for information of the business structure and comparing few organizations’ data using comprehensive indicators. Once you found the code of business index, you need to insert a variable x in order to extract data. If you insert x and set the time, you will be able to see the report of business index on the time. You can put an additional note on the name column about what each code represents. You will also be able to convert the currency for comparison when necessary. Unlike Datastream, SDC Platinum requires you to use its own database. M&A can be divided into US target and non-US target. In case you would like to extract data of a listed firm in the financial market in Korea, you have to go for non-US target, because the acquired firm is Korean organization. Ms. Jeon added, “if you get stuck which categories to start looking, you can simply search by keyword from ‘all items’. Quite a lot of SDC Platinum users have difficulties understanding what each category means and what each filter represents.” Therefore, it is quite useful to look up for information using ‘definition’ button. Once you find the data you were looking for, you can analyze it or write a report out of it. You can choose the format or report from the ‘report’ column, or you can add a category and customize the outcome. You can save the completed report as an excel format file. In addition, you can analyze data from a range of categories such as industry or target country, using ‘analysis’ function. You can get an additional data by each transaction from the ‘deal’ menu as well. Sudang Digital Library subscribes to a variety of academic journals to support research achievements at the Business School. Each semester, the Digital Library holds the information session for database use. In the following week, the Library will open information sessions including △Bloomberg: Market Information-Stock/Bond/Derivative Products (5/31, 2-3pm, Hyundai Motor Hall Room B308) △KIS-VALUE: Downloading Domestic Business Information and Mass Industry Information (6/1, 2-3pm, Hyundai Motor Hall Room B307).
Korea University Business School, Spring 2018 Campus Tour
Korea University Business School, Spring 2018 Campus Tour 73 High Schools, 112 Teen Participants … Ask Questions about Campus Life, Study Pathways Korea University Business School (Dean Soo Young Kwon) opened ‘2018 Spring KUBS Campus Tour & Teen Gathering Day’ on 19th of May (Fri). The event was hosted by KUBS Student Ambassador KUBE, with participants of 112 high school students from 73 schools across the country. The Campus Tour is designed for high school students to have a chance to experience overall life at the Business School. This time, the event was organized as △Introduction to KUBS △Overview of Business Administration △Campus Tour △Study Mentoring Program. The participants were first invited to a brief introduction to Business Studies at SUPEX Hall, LG-POSCO Building. KUBS Student Ambassador KUBE then guided each team for a campus tour. KUBE answered questions from the participants, regarding life on campus and useful tips and advice on study pathways. At least once each semester, Korea University Business School holds Campus Tour for high school students who are interested in Business Administration major. The School expects the event to be a great chance to encourage and support the participants to plan their future study. The next event will be held on November, and KUBS will also open ‘Teen Mentoring Day’ in July for 2nd year high school students. These programs are offered free for all high school participants. ▶ Click Here to Check Out Pictures of Spring 2018 Campus Tour ◀
[2018-1 Global CEO Lecture] “Look Ahead into the Future, Be Prepared” … Kenneth Kyung-Soo Park, CEO of PSK Inc.
[2018-1 Global CEO Lecture] “Look Ahead into the Future, Be Prepared” … Kenneth Kyung-Soo Park, CEO of PSK Inc. On 24th of May, the Business School invited Mr. Kenneth Kyung-Soo Park, CEO of PSK at SUPEX Hall, LG-POSCO Building for the ‘Global CEO Lecture’ Series. He was the 11th guest lecturer invited for the lecture series, where he focused on ‘The 4th Industrial Revolution and Platform Business’. Mr. Park is one of our proud alumni (Business ‘71) who established PSK Inc. in 1990. He is one of the most successful CEO in the world, the semiconductor company now achieved exceptional annual sales of 270 billion. How this liberal arts student started his career in semiconductor industry was his first job at the large company. He was in charge of a project in cooperation with semiconductor raw material suppliers in the U.S. Mr. Park added “I was lucky to be able to work with semiconductor business. I thought one day the industry will grow to one of the major industry in the near future. Since I worked with people in the industry, and I received a lot of support when I started my business.” With a collaboration of a semiconductor equipment company, PSC in Japan, he established his company PSK. His initial goal was to adapt semiconductor equipment to the Korean market. What the company’s R&D department focused on was ‘dry strip’. Dry strip is also referred to as ‘asher’ equipment, which disposes of residue in the production process of semiconductor. Mr. Park explained, “Initially we had difficulties but now the company has grown to the largest company in the world market. It is a very remarkable achievement given that the company is the 2nd generation company in the industry.” Mr. Kenneth Park then discussed the changes in the 4th Industrial Revolution. There will be more emphasis on AI, IT, Big Data in the new area. “A great example would be ‘Rap of China’, the Chinese TV show recently used AI in the committee selection process. You can see the fact that AI now substitutes decision-making process without human engagement.” He predicts that each and every products and service will be connected in a network, as in IoT. And to achieve that, further innovation of semiconductor technology is crucial. He also pointed out the importance of platform. The platform he was referring to is a group of people sharing same language and rules. “One of the great examples of the platform can be Amazon.com in the U.S. Initially it was a book sales company, but now they developed a unique platform of selling a range of products including electrical appliances, daily supplies, electric books.” PSK Inc. is working on platform business as well. Mr. Park explained “we developed SBMS, data management system which I expect would be a foundation for a single platform in the data technology society. The platform makes it possible to maintain the quality product, to boost customer loyalty.” In conclusion of his lecture, Mr. Park advised the audience to prepare for the rapid change. “The semiconductor industry has now grown to a huge volume of 40 billion dollars. Nevertheless, PSK Inc. takes only 1% of the market, 4 billion dollars. That’s because South Korea fails to demonstrate the strength in basic science. South Korea failed to take the lead in the semiconductor industry.” He concluded, “it is therefore necessary to look ahead into the future, and be prepared for the big change.” With positive reviews so far, the Business School is expecting the final lecture of ‘Global CEO Lecture series’ by △ Young-Sik Kim, President of PwC Korea (5/31).
Spring 2018 KUBS Scholarship Awards Ceremony…A Total of 39 KUBS Scholarships to 195 Students
Spring 2018 KUBS Scholarship Awards Ceremony …A Total of 39 KUBS Scholarships to 195 Students On May 17th, the Business School had the Spring 2018 Scholarship Awards ceremony at Ahn Young Il Hall, LG-POSCO Building. Scholarship donors, and holders of a total of 140 KUBS students participated in the ceremony. The participant list of scholarship donors was as follows: Moon-Yong Lee, CEO of Musical House GoMaWo Korea; Yeong Yul Seo, CEO of PT. Pratama Abadi; Kwang-Soo Seo, Committee for Chung Pyung Hwa Fashion Mall; Ja-Hyeong Koo, Chief Vice President of KUBS Alumni Association; Jin-Hyung Jang, Geun Chang Kim Scholarship Foundation; Seung-Yeol Yang, Vice President of KPMG Korea; Yi-Hyun Jeon, President of KUBS MBA Alumni Association; Young-Won Yoon, Vice President of Deloitte Korea; Young-Ki Kim, Director of HR Department at Hyundai Motor Group; Jong-Kyoon Yoo, Managing Director of KCC Corporation. After a brief introduction of the guests, Dean Soo Young Kwon commenced the Ceremony by welcoming remark. Dean Kwon said “this ceremony is to thank our guests who pay great and warm attention to junior students at KUBS. Thank you all for participate in the event on such harsh weather.” Then the ceremony was followed by the awards of scholarships to the holders. A total of 39 types of scholarships were granted to KUBS students this semester, including △KUBS Dream Scholarship (68 holders) △Future Scholarship (32) △Freshmen Scholarship (16) △Soam Scholarship (12) △Namchon Scholarship (10) △Yangyeong Foundation Scholarship (8) △Kowon Simwoo Foundation Scholarship (7) △Geun Chang Kim Foundation Scholarship (7) △Geum Cheon Scholarship (4). Scholarship holders were a total of 195 students inclusive of duplicated grants. (From left) Moon-Yong Lee, CEO of Musical House GoMaWo Korea; Kwang-Soo Seo, Committee for Chung Pyung Hwa Fashion Mall The scholarship donors and holders then had a banquet, with a chance to talk to each other. After the banquet, the donors made remarks followed by a holder’s thank-you speech. On his remark, Moon-Yong Lee, CEO of Musical House GoMaWo Korea said “I have been making scholarship contributions when I turned 66, in 1998. I hope all students here today will be someone influential in the society, and develop yourself as a good example to the future generation.” Kwang-Soo Seo, Committee for Chung Pyung Hwa Fashion Mall, advised the students that “when thinking of your future, there is no right answer. However, you still need to set a goal and work on your plans to be able to take advantage of the unique opportunity. It is very important to set a goal to be the best in your area; I think it is a great part of happiness.” One of the scholarship holders, Sung-Jin Park (Business ’11) thanked the guests “this scholarship means a lot to me. It really is more than just the tuition fee. I deeply appreciate your thoughtful contributions, and I promise I will make the best use of it for my study.” The ceremony closed with a photo shoot afterward. Scholarship holder, Sung-Jin Park (Business ’11) on his thank-you speech This semester, Korea University Business School provided scholarships of a total of 451 million won contributed by 39 sources. The rate of scholarship beneficiary was 64.3% for enrolled students.
[2018-1 Global CEO Lecture] “Always Be Prepared for the Worst Case Scenario”…Yeong Yul Seo, CEO of PT.Pratama Abadi Industri
[2018-1 Global CEO Lecture] Yeong Yul Seo, CEO of PT.Pratama Abadi Industri “Always Be Prepared for the Worst Case Scenario” On May 17th, KUBS invited Mr. Yeong Yul Seo, CEO of PT.Pratama Abadi Industri for the special lecture series by Global CEO. The topic of his lecture was ‘The Rule of Opportunity: Opportunity comes to those who devote themselves to something they want’. Mr. Seo is one of our proud alumni (Business ‘69) who is currently the CEO of PT.Pratama Abadi Industri (PT.Pratama). He is a successful CEO who established PT.Pratama in 1989 in Indonesia, the Nike OEM manufacturing business has grown to a big corporation. He was the winner of 2017 KU Alumni of the Year, and he also made a contribution of 300 million won to the Business School. (▶ See Article) Mr. Yeong Yul Seo started his undergraduate study in 1969, and yet his had to defer his study until later because at first, he wanted to re-take the university entrance exam to go to Seoul National University. “However, I had had comments advised me to take an exam to be a tax officer. On the first attempt I passed the exam, and so I started my career as a tax officer.” Unlike what he planned, looking at friends passed the Civil Service Entrance Examination, he changed his mind to quit his job and started tertiary education 4 years later. “Like every university student, I also studied for CPA exam during my undergraduate years. But I ended up applying for a job at offices because I did not pass the exams.” Nevertheless, getting a job was not easy for him. Due to the age restriction applied to job applicants, he was not even able to pass the document screening. Daesung Timber Company contacted him one day because his tax officer experience caught their attention. “I came to work on Sundays. I never took breaks. Not that I had overloads of work to do, but I went to the office anyway.” One day he saw a job opening at Saudi Arabia branch of Lucky E&C (now GS E&C) on the newspaper. He decided to apply for it given its 2.5 times higher salary. Since then Mr. Seo worked for few other offices abroad. While he built his professional career, he met a person from footwear industry which led him to start footwear OEC manufacturing business ‘PT.Pratama Abadi Industri’ in Indonesia. “Inspired by Samsung’s ‘Samsung First Policy’, I named the company ‘pratama’ which is ‘the best’ in Indonesian,” he added. However, he failed to be appointed as the CEO. His effort only reached the establishment phase of the business. “Back then the company took advantage of me. So I rather focused on my other jobs.” 5 years later, PT. Pratama went bankrupt, and this time the company asked for his help. “What they needed was 5 million dollars. I applied for a loan at Indonesian bank, and they accepted my application. Although the bank did not give credit to the company, I was able to prevent bankruptcy based on my credibility.” As a consequence, he was appointed as CEO of PT. Pratama. Since his appointment, the business achieved an exceptional success. For three years in a row, PT. Pratama was evaluated as the top factory out of 48 other Nike distributions in the world. It has grown to a big corporation, with its outstanding annual sales of 380 million dollars, and 30,000 local employees. As a conclusion of his lecture, Mr. Seo advised the audience to ‘keep in mind what is important’. He explained, “Looking back, my late start of tertiary education, financial difficulties, and all other issues running my business, I believe I was able to overcome all those years because I kept reminding myself what is important.” “By that I mean, it is important to keep in mind and set a goal to be the best in your area.” Mr. Seo also pointed out the importance of setting out a negative mindset, “because you will be able to prepare and prevent the worst case scenario.” With positive reviews so far, the Business School is expecting the last two lectures of ‘Global CEO Lecture series’ by △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
Donation to Scholarships of 300 Million Won by Yeong Yul Seo, CEO of PT.Pratama Abadi Industri
Donation to Scholarships of 300 Million Won by Yeong Yul Seo, CEO of PT.Pratama Abadi Industri On 17th of May at the Dean’s Office, the Business School received a contribution of 300 million won by Yeong Yul Seo. Mr. Seo is one of our proud alumni (Business ‘69) who is currently the CEO of PT.Pratama Abadi Industri (PT.Pratama). (From left) KU Vice President for Planning and Budget Jae Wook Kim, KUBS Dean Soo Young Kwon, KUBS Alumni Yeong Yul Seo, KU President Jaeho Yeom, Vice President for Development and External Affairs Byung Hyun Yoo (Picture by Communications Team) A ceremony for the donation was held at Korea University Main Hall where KU President Jaeho Yeom, KUBS Dean Soo Young Kwon, KU Vice President for Planning and Budget Jae Wook Kim, Vice President for Development and External Affairs Byung Hyun Yoo participated to appreciate the contribution. Mr. Seo commented, “this contribution is to celebrate the 30th anniversary of the start of my business. After today’s donation of 100 million won, I plan to make additional contributions of 200 million won to support my junior students, to broaden the eligibility of scholarships." After the ceremony for donation, Mr. Seo also gave a special lecture for KUBS students. As a part of the School’s <Global CEO Lecture Series>, he discussed ‘The Rule of Opportunity: Opportunity comes to those who devote themselves to something they want’. In his lecture, Mr. Seo advised the audience that “looking back, my late start of tertiary education, financial difficulties, and all other issues running my business, I believe I was able to overcome all those years because I kept reminding myself what is important.” He also pointed out the importance of setting out a negative mindset, “because you will be able to prepare and prevent the worst case scenario.” ( ▶See Article) The establishment of PT.Pratama Abadi Industri goes back to 1989 in Indonesia. After starting his career in Indonesia since 1982, his business achieved an exceptional success. The company has grown to a big corporation, with its outstanding annual sales of 380 million dollars, 30,000 local employees as well as 90 Korean supervisors. This Nike OEM manufacturing business made the remarkable achievement within 28 years since the establishment. His business has been contributing a large part of Indonesia's economic development by creating jobs and the acquisition of foreign currencies. At the same time, it takes a large proportion of Korea’s export, achieving an annual total of 30 million dollars of material sourcing from South Korea. Since 1995, KUBS has sent a total of 30 students to PT. Pratama for an overseas internship experience.
[Startup Lecture Series] “Work on Something Others Would Not Want to Do” Soo-Young Yoon, CEO of TREVARI
[Startup Lecture Series] “Work on Something Others Would Not Want to Do” Soo-Young Yoon, CEO of TREVARI KUBS Startup Station held its 3rd special lecture for ‘Spring 2018 Startup Lecture Series’ on May 15th. The guest lecturer was Soo-Young Yoon, CEO of TREVARI. In his lecture, Mr. Yoon discussed ‘How to Start Up a Business’. Mr. Yoon started his lecture by sharing the story of his business startup. After quitting his job at Daum Kakao, he had this business idea from the book club he was attending to. He came up with an idea that ‘why can’t a book club be a business when it is such a fun activity?’. He thought perhaps it is because it would not be as fun as the book club if operated as a business. Mr. Yoon explained, “So I thought how it works is that basically, a person who gets to have fun spend money, whereas a person who is not having fun gets to make money.” “I suggest you start from a business idea that is not fun but necessary for others at the same time because that’s what makes your business profitable.” Mr. Yoon emphasized the importance of a mentor to avoid mistakes. He said, “Big difference is often caused by a tiny mistake.” “If your concern is a clear yes and no question, ask someone with experience. You need to take time for thinking only when you don’t know if there is a clear answer.” He added, “it will be time and cost efficient if you gain guidance and insights from someone with experience”. He concluded his lecture with an additional advice to the audience. He left Daum Kakao when he was 27. He decided to work on his business for 1 or 2 years, thinking that he would be able to look for a job again even if his business won’t work. He advised that “you need to always have a plan B. I know you might want to focus on your plan A, but it is necessary to bring yourself down to earth.” Each semester, KUBS Startup Institute holds practice-based lecture series ‘Lecture on Demand’ about startups and business venture. Anyone interested in the KUBS startup business teams and any KUBS students are welcome to participate in the lectures. For further inquiries, please contact KUBS Startup Institute at 02-3290-2551.
2018-1 Student-Alumni Mentoring Day…“Gain Valuable Insights from Alumni Mentors”
2018-1 Student-Alumni Mentoring Day “Gain Valuable Insights from Alumni Mentors” On 16th, KUBS had the Spring 2018 Student-Alumni Mentoring Day event at Ahn Young Il Hall, LG-POSCO Building. As well as Dean Soo Young Kwon and Associate Dean Jaehwan Kim, 119 enrolled students and 30 alumni mentors participated in the event. The participated mentors are from diverse professional areas including △public enterprise/institution △accountant △entrepreneur △Civil Service Entrance Examination △law school etc. Commenced in 2007, the Student-Alumni Mentoring program facilitates professional connections between KUBS students and alumni. The program pairs up a mentor with 4 to 6 current students, or the match can be paired as groups depending on students’ area of interest. The mentoring program also holds seminars by professional areas twice a year. Dean Soo Young Kwon commented, “this year we invited recent graduates to the program, so that mentee students would be informed of the most current updates. I hope all of you have a great time, thank you all for your participation.” One of the alumni, Hyun Kim (Business ‘11), who is a member of start-up business ‘My Real Trip’ said “I got quite a lot of questions about start-up business today. I hope my answer was helpful to mentees.” One of the mentee student Shin-Hee Kim (Business ‘16) added, “it was a valuable event to gain professional guidance and insights from alumni mentors.” KUBS Career Hub holds Student-Alumni Mentoring Program to encourage professional networks of both students and alumni. Each pair lasts for a year, but these relationships often continue long after the program ends. Enrolled students are eligible to participate in the program through an online application at KUBS Career Hub website.
Spring 2018 KUBS Fire Emergency & Evacuation Training
Spring 2018 KUBS Fire Emergency & Evacuation Training On May 15th, the Business School had Spring 2018 KUBS Fire Emergency & Evacuation Training at the three buildings of the School: KUBS Main Building, LG-POSCO Building, and Hyundai Motor Hall. This test of evacuation plan asked participants to follow the instruction as in a real emergency. ‘Fog Machine’ was used to maximize the reality of the evacuation plan. As soon as the emergency alarm rang, an announcement of evacuation was released. The administrative staffs then guide the participants to the designated exits, wearing an orange emergency vest. Faculty members and students then followed the instruction of evacuating the building, using the nearest exits. Then the staffs practiced the use of fire extinguisher. Dean Soo Young Kwon and Associate Dean Jaehwan Kim learned how to activate fire extinguisher and practiced the use. How it works is that you need to remove the safety pin near the fire and then hold the fire hose. The pin has to be pulled out without holding the handle of the extinguisher. Dean Soo Young Kwon concluded the evacuation training by saying, “We hold fire evacuation training every semester to prepare for any unfortunate events. Thank you all for your cooperation”.
Social Event for the 84th & 85th AMP Senior and Junior Students
Social Event for the 84th & 85th AMP Senior and Junior Students On May 14th at dinner, the Business School’s Advanced Management Program (AMP) had its social event for its senior and junior students at Ahn Young Il Hall, LG-POSCO Building. The event allows the 85th AMP students to meet and network with their senior, the 84th AMP students. Participants were 60 AMP 84th and 85th students. The hosts were AMP Program Director Professor Sang Yong Kim, Associate Director Professor Seung Yeon Oh. The 84th students had a brief session of self-introductions, followed by the 85th students’ introduction. The 85th students attended the event with their families and partners. With provided refreshments, participants had a chance to socialize. The event was also followed by a performance of Cello Trio ‘Stupeo’. Titled ‘Classic beyond the Concert Hall’, Stupeo performed their unique arranged version of classical music and movie soundtracks. The audience gave big rounds of applause after each song was played.
2018 Startup Demo Day ‘CHOO CHOO DAY’, Successful Event with Positive Reviews
2018 Startup Demo Day ‘CHOO CHOO DAY’, Successful Event with Positive Reviews Presentation by 7 Startup Business Groups Korea University Business School (Dean Soo Young Kwon)’s Startup Station (Director Prof. Hicheon Kim) opened a startup demo day event called ‘2018 Spring CHOO CHOO DAY’ on May 11th, at Supex Hall, LG-POSCO Building. After 6 months of the structured training program, business groups at Startup Station presented their progress on the demo day event. Over 200 guests including potential investors, prospective entrepreneurs participated in this startup event. Dean Soo Young Kwon encouraged the startup groups, “I could see all the hard works and efforts you made during last 6 months. I believe this demo day event must have made you feel rewarding. I strongly hope that today is another big step of the success of your business.” Vice President of GoVenture Forum also said, “today I saw a bright future of the startup industry”. On the demo day, 7 startup teams from KUBS Startup Station participated in the presentation. Each team had a brief 10 minutes’ presentation on the progress of their product and services. The 7 teams are as follows. △‘Woot’: regional based micro community service for single person households △’UX (User Experience)’: cloud-based tool for designers △‘Whale Company’: prospective business in the fragrance industry △‘D&I PARVIS’: ‘Task Assisting AI’ technology for professionals with complicated tasks △‘RoBotry’: learning tool for mechanic engineering and robotic coding △‘IoPET’: health checkup kit for aged pets, assisting a diagnosis of the 5 most common pet diseases and illnesses △‘Dreamary’: online platform connecting apprentice hairdressers and clients looking for reasonable priced service. One of the 7 startup groups, Woot’s CEO Mr. Joon-Hye Park commented, “It was such a lot of work coming to this point. It is very rewarding though, and I would like to thank all the support we received. I wish our presentation today made sense to many of you here.” CEO of RoBotry, Mr. Sang-Wook Ahn also added, “Regardless of what today’s event will bring about, we learned a lot preparing for this event. It was challenging but now I think I know where my business should be headed.”
Emeritus Professor Yoon Dae Euh Made a Donation for Exchange Students to Stephen M. Ross School of Business, University of Michigan
Emeritus Professor Yoon Dae Euh Made a Donation for Exchange Students to Stephen M. Ross School of Business, University of Michigan Korea University Emeritus Professor Yoon Dae Euh (Business ’63, the 15th President of Korea University) made a contribution of 50 million won. The donation will be named as ‘Euh Yoon Dae Friendship Scholarship’, and it will be used to finance round-trip fare of exchange students to Stephen M. Ross School of Business, the University of Michigan in the U.S. ▲ Emeritus Professor Yoon Dae Euh (Business ’63, the 15th President of Korea University) Emeritus Professor Yoon Dae Euh served as the 15th President of Korea University for 4 years from 2003. One of his main achievements during his term was ‘Global KU Project’. This donation is also a part of his project as improvement of KUBS to ‘Global Business School’, by supporting students to spend their exchange semester at the University of Michigan’s Ross Business School. Emeritus Professor Yoon Dae Euh commented, “I hope this will be another big step facilitating exchanges between KUBS and Michigan Ross”. Korea University Business School signed international partnership agreements with University of Michigan’s Ross Business School. It is expected that the agreement would promote academic exchanges and cooperation between the two institutions. KUBS students are now eligible to participate in the exchange program at Stephen M. Ross School of Business, University of Michigan, depending on the number of incoming students from Michigan Ross. ▶ [See Article] 'KUBS, International Partnership Agreements with University of Michigan's Ross Business School'◀
The 3rd Seok-Top Research Awards Winners Prof. Martin Hemmert and Prof. Jae-Nam Lee
The 3rd Seok-Top Research Awards Winners Prof. Martin Hemmert and Prof. Jae-Nam Lee Prof. Martin Hemmert Prof. Jae-Nam Lee The Business School is proud to inform you that Professor Martin Hemmert (International Business) and Professor Jae-Nam Lee (Management Information System) received the 3rd Korea University’s Seok-Top Research Awards. Since 2016, Korea University commenced the Seok-Top Research Awards to encourage long-term researches and reward outstanding research performance of academic staffs at the University. The winners are selected by their research achievements in △ academic research papers, △ academic research journals, and △ research grant outcome. In addition to the number of publications in NSC Journal (Nature, Science, Cell Journal) as a first author, the top 3 % nominees were shortlisted by △ research quality, △ the number of research publications, and △total amount of research grants. Each year the award goes to 9 divisions including △ Humanities (Languages) △ Humanities (Humanities and Fine Arts) △ Social Science A △ Social Science B △ Social Science C △ Science A △ Science B △ Science C △ Medical Science.
2018 GMBA Homecoming Day
2018 GMBA Homecoming Day Socialize with fellow students and alumni The Business School held the Homecoming Day event for GMBA, Spring on May 10th, 7 pm at Ahn Young Il Hall, LG-POSCO Building. Participants were 30 GMBA students and alumni, as well as Program Director Prof. Yong Keun Yoo, President of GMBA Alumni Association Hyung-Rae Jeon. Professor Yong Keun Yoo celebrated the event by saying “Thank you all for participating in the event. I hope you have a great time tonight. Please keep updated on upcoming students and alumni events as well”. President of GMBA Alumni Association Hyung-Rae Jeon added, “As many of you may know, we have the end of year party later in 2018, it will be a big event. Hope to see you all there”. At the banquet, the participants had a chance to socialize with fellow students and alumni. One of the 7th GMBA alumni Chang-Soo Han commented, “My study at GMBA helped me a lot to develop my professional experience. I hope it will be the same to you; Hope you will achieve your goal after your study at GMBA.” At the end of Homecoming Day event, the participants all took a picture to celebrate the gathering. The Business School’s GMBA holds ‘Homecoming Day’ event every semester to encourage GMBA’s alumni network.
[2018-1 Global CEO Lecture] “Master New Skills”…Younghoon Park, Executive Vice President of GS Home Shopping
[2018-1 Global CEO Lecture] “Master New Skills"… Younghoon Park, Executive Vice President of GS Home Shopping On May 10, KUBS had its 9th special lecture by global CEO, Executive Vice President of GS Home Shopping, Younghoon Park. The lecture was held at Supex Hall, LG-POSCO Building, where Mr. Park focused on ‘Changes in technology, and How to Prepare’. Executive Vice President Park started his career in 1993 at Samsung C&T, and later he served as CEO at CellVic, Vice President at Monitor Group, President at Accenture consulting. He is now Executive Vice President at GS Home Shopping from 2014. Mr. Park started his lecture by emphasizing the importance of skill acquisition. He explained that it has now switched into an era of ‘Digital Marketing’, compared to ‘Media Marketing’ earlier on. Media Marketing refers to mass media used as marketing tools, such as on TV, radio, and newspaper. “It was often referred to as ‘One to N’ strategy, but it’s ‘One to One’ now.” Mr. Park added, “it is headed to marketing strategies targeted on a personal level”. Mr. Park also pointed out that the current paradigm can be characterized as ‘All about me’, which refers to the personalized society. He classified 4 characteristics of the change of society. First, hyper-personalization in a sense that individuals attempt to distinguish themselves from others. He explained, “Individuals now develop their own sense of world. Business, therefore, provides personalized services that fit for one consumer.” The second characteristic can be defined as ‘totally social’, a transformation of individuals’ social nature, as can be seen from the use of SNS. The individual has two distinguishable online and offline identities. In addition, contextual services that require an open mind to cultural changes. The last characteristic Mr. Younghoon Park mentioned about current change is the improved convenience of life in general as a consequence of technological progress, which can be referred to ‘seamless & easy’. Mr. Younghoon Park also stressed that the boost of 'ecosystem' is where the businesses should be headed. Ecosystem he referred to is an interactive system that participants exchange values and ideas to evolve and adapt to new environment. He suggested an example of Airbnb as the seamless and open business mechanism. “Airbnb adopts an open mechanism that allows consumer and suppliers”, he added. However, Mr. Park warned about resistance to such change. He explained, “Looking back history, changes always come with the resistance of any forms – technical, social or ethical. Therefore, it is important to manage the possible resistance to continue technological progress, in order to maintain national competitiveness.” In achieving ‘ecosystem’ Mr. Park suggested ‘Application Program Interface (API)’ for its technical realization. API can be defined as standards regulation between the interconnected services. API allows the connection and network between totally distinguished areas of services. He explained, “API has already been adopted by the successful businesses such as Alibaba, Apple, Amazon. API technique became the key concept in the operation of the business.” In conclusion, Mr. Younghoon Park advised the audience to learn skills. He explained, “It is not a good idea to have a distinction between humanities and science disciplines. Regardless of your major area, it is important to have a clear idea of skill acquisition to be able to prepare for future changes.” The Business School’s coming up ‘Global CEO Lecture series’ will invite △ Young Yul Seo, Chairman of PT.Pratama Abadi Industri (5/17) △ Kyung-Soo Park, CEO of PSK (5/24) △ Young-Sik Kim, President of PwC Korea (5/31).
Korea University Graduate School of Business Meeting with China Europe International Business School (CEIBS) for Improvements in MBA Programs
Korea University Graduate School of Business Meeting with China Europe International Business School (CEIBS) for Improvements in MBA Program On May 3rd, Korea University Graduate School of Business (Dean Soo Young Kwon) had a meeting with China Europe International Business School (CEIBS) to discuss possible improvements in MBA programs. The meeting took place at the Business School Dean’s Office. The participants were KUBS Dean Soo Young Kwon, CEIBS Vice President and Dean Yuan Ding, as well as △ Jenny Chang (KUBS International Office) and △ Singer Jiang (CEIBS). The meeting was mainly on strategies for transnational research exchanges, MBA and Ph.D. in particular. KUBS and CEIBS agreed to sign the partnership since March 2009. The 2 business schools had regular meetings for academic exchanges. This meeting looked into course structures of MBA programs in more detail, to facilitate further research exchanges. Dean Yuan Ding said, “It was pretty impressive to see how KUBS has such a strong alumni network. I hope 2 business schools would continue further international research exchanges, and both schools to learn from each other’s strengths”. Dean Kwon replied, “CEIBS is one of the most renowned business schools for its strong MBA program. I am also hopeful that the schools maintain the academic partnership.” CEIBS Campus CEIBS is the business school co-founded by China and EU. In less than 20 years of the foundation, the School has been accredited by AACSB and EQUIS. In 2018 Financial Times’ full-time MBA ranking, CEIBS has been proven to be the top business school in Asia, 8th in the world.
KUBS Startup Institute's Demo Day, 2018 Spring CHOO CHOO DAY!
KUBS Startup Institute's Demo Day, 2018 Spring CHOO CHOO DAY! Korea University Business School (Dean Soo Young Kwon) opens a startup demo day, ‘2018 Spring CHOO CHOO DAY’, on May 11th (Fri). After the 6 months’ startup training program, KUBS startup entrepreneurs present their ideas on their product and service on this startup demo event. Inviting over 150 participants this year, it will be a huge event with guests from universities, public institutes, publications, business as well as pre-entrepreneurs. The following 7 KUBS Startup teams will be presenting. △ ‘Woot’: regional based micro community service for single person households △ ’UX (User Experience)’: cloud-based tool for designers △ ‘Whale Company’: targeting niche market of fragrance industry, presenting creative product with solid distribution channel △ ‘D&I PARVIS’: ‘Task Assisting AI’ technology for professionals with complicated tasks △ ‘RoBotry’: learning tool for mechanic engineering and robotic education, made with paper pulp △ ‘IoPET’: health checkup kit for aged pets, assisting a diagnosis of the 5 most common pet diseases and illnesses △ ‘Dreamary’: online platform connecting apprentice hairdressers and clients looking for reasonable priced service Anyone interested in startups is welcome to participate in the demo event. More details can be found on KUBS Startup Institute website and facebook. ▶ Website: https://www.startupstation.kr ▶ Facebook: https://www.facebook.com/kubsstartupstation ▶ RSVP Here: http://onoffmix.com/event/134503 Established last September (September 2017), KUBS Startup Institute is the very first startup institute in the business schools in South Korea. The institute is responsible for training and researches for the startup business to encourage and support the admitted teams’ entrepreneurial success. The Startup Institute holds a competitive exhibition events ‘Startup Express’ each semester. Entry into Startup Institute is competitive; the Institute’s current business teams went through a thorough document screening and interview, passed the acceptance rate of 10:1. The benefits to the admitted business teams include financial support up to 5 million KRW, access to learning facilities at Iljin Center for Startup Incubation (Level 2, KUBS Main Building), training sessions offered by Seung Myung-Ho Entrepreneurship Education Center. In addition to all these, admitted teams will have opportunities to network with the renowned organizations who signed an MOU with KUBS, including △ Kim&Chang Law Firm △ PwC Korea △ Amazone Web Services △ Y Crowdy Inc.