KUBS Hosts “KUBS Futurum – Asia Tri-lateral” Seminar
KUBS Hosts “KUBS Futurum – Asia Tri-lateral” Seminar On August 17 (Thu), Korea University Business School (KUBS) will host the Asia Tri-lateral Seminar. The Asia Tri-lateral Seminar, the second session of the “KUBS Futurum,” is an academic seminar held annually in August. The session is jointly run by Peking University Shenzhen in China and Hitotsubashi University in Japan. This year’s first-ever seminar will be hosted by KUBS. The theme of the seminar is “Corporate Strategies in China, Japan, and Korea in the New Normal Era.” As the world is entering a fourth industrial revolution while slipping into a period of sustained low economic growth and uncertainty, the participating universities will gather to analyze how companies in the three countries are overcoming barriers. The seminar is meaningful in that China and Japan, which are deeply tied to Korea economically, share strategies for a future society. Specifically, the ultimate goal is to deliberate upcoming issues that may impact the world economy and companies and to offer insights from the point-of-view of business scholars from Korea, China, and Japan. “The world is mired in a low-growth slump, and it is difficult to predict how our future society will evolve due to the interest rate increase, currency fluctuations, and rapid development in ICT,” said KUBS Dean Soo Young Kwon who will be hosting the seminar. “The seminar will be jointly steered by the best universities in Korea, China, and Japan along with distinguished scholars across the world. Your interest and participation are greatly appreciated.” In the meantime, the KUBS Futurum, which means future in Latin and is a compound word made up of “Future” and “Forum,” consists of △Lecture Series, △Asia Tri-lateral Seminar, and △Business and Economic Outlook.
KUBS Signed International Partnership Agreement with Washington University in St. Louis
KUBS Signed International Partnership Agreement with Washington University in St. Louis On June 16 (Fri), Korea University Business School (KUBS Dean=Professor Soo Young Kwon) signed an international partnership agreement with Olin Business School at Washington University in St. Louis (Olin), situated in Missouri, United States. Marking the 60th anniversary of the “Washington University Project,” which contributed to the development of Korean business studies in the past, the agreement was signed again for the first time in 60 years. △Olin Dean Mark Taylor, △Chief of Staff Jessica R. Martin, △KUBS Dean Soo Young Kwon, △Professor Emeritus Dong Ki Kim, △Professor Emeritus Yoon-dae Euh, △Professor Emeritus Joon Bum Lee, △Professor Emeritus Ik-soon Cho, and △Professor Emeritus of Yonsei University Ki Young Kim attended the occasion. The scope of the partnership includes academic exchanges such as △Student Exchange Program and △Joint Research Projects and Seminars. Each school can send up to ten students per year to study abroad at the other school. Exchange students can stay one semester and may request to stay up to one year. “I have no doubt that both schools will actively interact and strengthen partnership through this agreement,” Dean Kwon said. “Just as Korean business education developed tremendously thanks to the Washington University Project 60 years ago, I hope we will be able to develop something new through these academic exchanges.” ▲ Olin Business School Washington University in St. Louis (WUSTL) established a business school in 1917. The business school was named in honor of John M. Olin and in recognition of a gift from the John M. Olin Foundation. Olin has a total of 135 full-time faculty members and is ranked 22nd in the UTD Top 100 Business School Research Rankings, an indicator that evaluates faculty research performance. Meanwhile, WUSTL contracted the “Washington University Project” to cooperate with Korea University and Yonsei University to develop business education. This contract was in line with the technical assistance program by the International Cooperation of Administration (ICA) in 1957. Accordingly, more than 10 WUSTL faculty members were sent in Korea and made a contribution to the progress of the Korean business schools. Any inquiries on the Student Exchange Program can be directed to KUBS International Office (firstname.lastname@example.org). View Related Articles 현대 경영학 도입의 60년 역사, ‘워싱턴대 프로젝트’ 60년이 흘러도 생생한 워싱턴대에서의 생활 - 유세환, 이준범, 조익순 명예교수 인터뷰
“KUBS Futurum,” Future Vision Proposed by KUBS
“KUBS Futurum,” Future Vision Proposed by KUBS Korea University Business School (KUBS) has launched “KUBS Futurum,” an annual forum on the topic of the future. The KUBS Futurum, which means future in Latin and is a compound word made up of “Future” and “Forum,” consists of △Lecture Series, △Asia Tri-lateral Seminar, and △Business and Economic Outlook. The KUBS Futurum aims to discover, ponder, and offer insights into the future issues that Korean society and economy will confront. Under the slogan “KU-the Future,” signifying that KU will open, lead, and make the future, Korea University has been exerting its utmost efforts to nurture talents for the future society since 2015. Every May, the Lecture Series brings in world-renowned figures to share their insights. The session is intended to keep up with the latest trends on changes in a future society and to discuss about the outcomes of those changes. The Asia Trilateral Seminar is held every August in conjunction with Peking University in China and Hitotsubashi University in Japan. The purpose of the session is to share strategies for the fourth industrial revolution with China and Japan, which are deeply tied to Korea economically. This year’s seminar is titled “Corporate Strategies in China, Japan, and Korea in the New Normal Era.” In December, KUBS and the Department of Economics will jointly run the “Business and Economic Outlook.” Although a number of institutes in Korea and abroad release the microeconomic outlook, there is no single institute that provides specific outlook by industry. Hence, KUBS and the Department of Economics plan to publish a prospect report, covering quantitative outlook by sales, revenues, and investments of each industry. Reports will be released at an open seminar held in every early December and distributed online for free. “The KUBS Futurum will provide the opportunity to examine the fourth industrial revolution, which elevates uncertainty for the future, and to find directions for humanity to steer,” KUBS Dean Soo Young Kwon said. “I hope you will be able to learn how companies facing Intelligence Society will transform and also how the Korean economy can survive in this rapidly changing environment. In addition, this forum allows intellectuals to assemble and think about what entrepreneurship is.” Any inquiries regarding the event can be directed to the KUBS Futurum Office at 02-3290-1306. Related Article “All Robots Fall Down; Do Not Fear Failure and Keep Challenging Yourself” – Special Lecture by Dr. Dennis Hong
“The Washington University Project,” A 60-year History of the Introduction of Modern Business Administration
“The Washington University Project,” A 60-year History of the Introduction of Modern Business Administration Korea University and Washington University in St. Louis…The 60-year anniversary of the business education technical assistance agreement Korea University (KU) and Washington University in St. Louis (WUSTL) celebrated 60 years of their partnership. The beginning of the “Washington University Project” dates back to 1957. After the signing of the armistice agreement, the United States proposed a measure to provide technical education assistance focused on private universities including KU (then-President Jin-Oh Yoo) and Yonsei University (then-President Nak Jun Baek). In 1955, as the technical assistance for business education was being reviewed in earnest, the foundation for the “Washing University Project” was established. Five WUSTL professors arrive in Korea in 1958. From left to right: Merle T. Welshans, Charles L. Lapp, Powell Niland, Sterling H. Schoen, L. J. Buchan (Photo provided by WUSTL) The objective of diplomatic relations between the two universities was “the introduction of modern business administration.” Korea, at the time, was in desperate need of reconstructing its economy through business education as it had been destroyed by the Korean War. Ross M. Trump, then dean of WUSTL’s business school, visited KU on November 17, 1957. The purpose of his visit was to examine Korea’s business management level and to see whether Korea was able to incorporate modern business administration. In December that year, Dean Trump signed a contract between the U.S. Department of State and the two Korean universities in order to assist business education. Finally, in February of 1958, the Washington University Project was launched. From 1958 to 1946, professors from the Washing University’s Olin Business School (Olin) were sent to Seoul. They were responsible for △counselling educators, △demonstrating new education styles, △creating curriculum, and △building a business library. Several professors from Korea University’s College of Commerce were also sent to WUSTL. △Soon-Shik Kim, △Haeng-Kwon Kim, △Hyo-Rok Kim, △Chang-Hwan Sung, △Se-Hwan Yoo, △Byung-Wook Yoon, △Joon-Beom Lee, △Soo-Young Jeong, △Ku-Yeon Cho, and △Ik-Soon Cho (in the order of the Korean alphabet) took part in business classes and received MBA or doctorate degrees at WUSTL. “This project was one of the most honorable achievements in Olin’s history,” said Professor Bob Virgil, who was in charge of operating the program at the time. “In fact, it was the most significant achievements in all of WUSTL’s history.” The visit to WUSTL by KU professors was effective as it led to a reorganization of curriculum, the establishment of an evening graduate school program, and the publication of a business newspaper. KU played a vital role in providing business administration education to universities in Korea by developing courses, improving teaching methods, and publishing business administration teaching resources. Although the College of Commerce was already four years ahead of Yonsei University in setting up a department of business administration in April 1955 and recruiting new students to provide business education, the education content and environment gap between the two universities grew even further due to the introduction of the Washington University Project. In particular, the establishment of the Institute for Business Research and Education (IBRE) and the Graduate School of Business Administration is evaluated as having played a critical role in providing business theories and practical education to industries in Korea. Faculty of the College of Commerce took part in IBRE and gave consultations to government agencies, public enterprises, and private companies. WUSTL has also sent exchange professors to provide education aid to IBRE. The Graduate School of Business Administration, which educates middle-level executives, brought direct transformation to university-level business education content. Related Article 60년이 흘러도 생생한 워싱턴대에서의 생활 - 유세환, 이준범, 조익순 명예교수 인터뷰
KU Ranks No. 1 in “MBA Evaluation by HR Managers from the Top 200 Companies” for 5 Consecutive Years
KU Ranks No. 1 in "MBA Evaluation by HR Managers from the Top 200 Companies" for 5 Consecutive Years It comes as no surprise. Once again, Korea University topped “The MBA Evaluation by HR Managers from the Top 200 Companies,” an annual survey by Hankyung Business. The results are meaningful because HR managers who are consumers of the manpower market directly participate in this survey. The evaluation is served as an indicator of what the status quo of MBA programs stand. Since the evaluation took place in 2013, KUBS has been securing its crown as the best MBA programs in Korea. ▲Photo credit: Hankyung Business The 2017 MBA Assessment was conducted with the 14 universities, including 13 “Korean MBA schools,” recognized by the Ministry of Education (Konkuk University, Korea University, Dongguk University, Sogang University, Seoul National University, Sungkyunkwan University, Sookmyung Women's University, Yonsei University, Ewha Womans University, Inha University, Chonnam National University, Chung-Ang University, Hanyang University) and KAIST. The six evaluation criteria are as follows: △Employer’s Preference, △Development Potential, △Compatibility with Organization, △Globalization, △Professionalism and △Recommendation. Korea University’s MBA programs are No. 1 for five consecutive years, scoring a total of 3418 points this year. △Seoul National University (3271 points) came in second followed by △KAIST (3rd, 2956 points), △Yonsei University (4th, 2916 points), and △Sungkyunkwan University (5th, 2916 points). Hankyung Business reported that the KU MBA remained robust in the criterion that asks how well graduates use their friendly and altruistic mind to communicate with team members in a Korean company where it has a strong organizational culture. “Having the most outstanding faculty members as well as invited and adjunct professors with abundant experience accumulated, KUBS provides a variety of major courses demanded by industries,” KUBS Dean Soo Young Kwon said. “Particularly, in the era of the Fourth Industrial Revolution where the barriers between industries are rapidly breaking down, the KU MBA programs produce synergy while gaining insights and intellectuals through business networks.“ View Related Articles 고려대 MBA, 5년째 1위…‘이변은 없다’ 고려대 MBA 왜 강한가…조직 융화력에 발전 가능성 ‘높은 평가’ 위기의 한국형 MBA, 재도약 노린다 권수영 고려대 경영전문대학원장 “4차 산업혁명 시대 맞춤형 인재 키울 것”
KU Selected for “Leaders in INdustry-university Cooperation (LINC+)”
KU Selected for “Leaders in INdustry-university Cooperation (LINC+)” KUBS builds a distinguished Industry-Academia Cooperation model utilizing its unique startup institute, internship program, etc. KUBS devotes to help local industries and communities to be both developed by realizing the world-class Industry-Academia Integration. Korea University is selected as an “Advanced Industry-Academia Cooperation University” in the “Leaders in INdustry-university Cooperation (LINC+),” conducted by the Ministry of Education and the National Research Foundation of Korea. A total of five colleges, including △Korea University Business School (KUBS), △College of Engineering, △College of Health Science, △College of Informatics, and △School of Art & Design, participated in the KU LINC+ Project. Of all, KUBS and College of Engineering will play a pivotal role in this project. KUBS received excellent marks by proposing a distinguished “Industry-Academia Cooperation” model based on its independently operated startup institute and global & domestic internship programs. As a selected university for the LINC+ project, KUBS will cooperate closely with local industries and communities to cultivate excellent manpower, create jobs, and support innovation in small and medium-sized companies. The business school plans to strengthen its competitiveness and actively engage in the project activities. Meanwhile, the LINC+ is a large-scale financial support project with an estimated budget of 327 billion KRW. In addition, this is a newly established Socially-Customized project closely linking university curriculums to social demands. A total of 55 universities, including Sungkyunkwan University and Hanyang University, were selected for the LINC+ project, which aims to alleviate the youth job crisis and labor shortage at firms. Each university was evaluated whether the proposed “Industry-Academia Cooperation” model is appropriately reflecting its vision, circumstances, and features, and is feasible with internal and external conditions. Korea University will receive up to 5 billion KRW per year through the LINC+ project. This year’s allocated amount is 3.2 billion KRW. The LINC+ project will be sustained for five years from 2017 to 2021. The university plans to expand a new center within Research & Business Foundation. The director of the center is Professor Kwan Young Lee, who is also research superintendent of Korea University. The key development plan of the KU LINC+ is “emerging future knowledge industry by establishing an integrated Industry-Academia Cooperation platform.” The university strives to develop a global Industry-Academia Cooperation model through the following diverse programs: Student-designed Major, Fusion Major, π-Ville for Young Entrepreneurs, and KU All-Set Support. The three core strategies of innovative national and local industries include △establishing a world-class Industry-Academia Cooperation infrastructure, △developing an integrated educational and research system for future industry, and △revitalizing Anam-Hongreung Valley. In particular, Korea University signed an MOU with KIST Graduate School. With Anam-Hongreung Valley, aiming to be Korea’s Silicon Valley, the university intends to pioneer and realize the world-class Industry-Academia Integration with industries, universities, research institutes, and communities. Once the platform is created, a variety of supports, including startup ideas and support services, will be offered by π-IDEAS Factory and KUBS Startup Institute in conjunction with local communities.
“Living Day in Life of KUBS Student” – The 5th KUBS Teen Mentoring Day
“Living a Day in the Life of a KUBS student” The 5th KUBS Teen Mentoring Day will be held on July 29 (Sat) Selecting nearly 80 second-year high school student across the nation…An opportunity to explore the field of Business Administration On July 29 (Sat), the 5th KUBS Teen Mentoring Day will be held from 10 a.m. to 6 p.m. The Teen Mentoring Day, sponsored by Korea University Business School (KUBS) and hosted by its Student Ambassador KUBE, is a social contribution program for high school students interested in studying Business Administration. KUBS selects nearly 80 high school students to join the mentoring day. Besides the student ambassadors, more than ten KUBS students attend the event to serve as a mentor. The KUBS Teen Mentoring Day offers a variety of programs that enhance the understanding of the university and academic field, such as △Introduction to KUBS and Mentors, △Special Lecture on Business Administration by Professors, △Campus Tour, △Business Administration Practices, and △Meet Current KUBS Students. Not only that, participating teens has a mentoring session with current KUBS student mentors to discuss and share their concerns on studies, paths, and college life. This event is complimentary. Any second-year high students across the nation are eligible to apply for the event through the KUBS website (biz.korea.ac.kr). After reviewing all applications, selected high school students will be informed individually. Related Article “KUBS Teen Mentoring Day” Led Me to Dream of Entering KUBS” – Interview with Minsuk Kim and Geon Choi (Business, ’17)
Spring Term Campus Visit Led Successfully
Spring Term Campus Visit Led Successfully On May 13, Korea University Business School (KUBS) hosted the 5th KUBS Campus Visit and Teen Gathering Day (KUBS Campus Visit). Nearly 40 high school students participated in the event, sponsored by KUBS and led by KUBS Student Ambassador KUBE. The KUBS Campus Visit, which was conducted free of charge, included △Introduction to Business Administration, △Campus Tour, and △Academic Mentoring Session. During the event, the participating teens actively answered a pop quiz, and some showed their passion by taking notes. In addition, they grouped in teams to listen to stories of the student ambassadors and shared concerns about school life, including future paths. “As I am in the middle of choosing my major, the KUBS Campus Visit was such a valuable experience to understand what Business Administration is,” said participant Pyeong-gang Lee, a student of Cheongwon High School. KUBS will continue to host a campus visit at least once a semester for high school students interested in Business Administration to help them map out their future paths and academic planning. The Fall 2017 Campus Visit will be held in November.
The Startup Lecture Series Held Monthly
The Startup Lecture Series Held Monthly The KUBS Startup Institute hosted the 2017 Lecture Series every month to help startup teams and KUBS students to have a basic grounding required to serve as a future entrepreneur. On March 14, the first lecture series, titled “Things You Should Never Do with Your Startup,” was delivered by PeopleFund CEO Joey Kim, a P2P financial enterprise. “It is important to figure out if your tendency fits in △Perspectives, △Choice, △Execution, △Leadership, and △Humility,” said CEO Joey Kim (Business, ’00) who is an alumnus of Korea University Business School (KUBS). On April 18, Fast Track Asia CEO Jiwoong Park, Korea’s flagship company builder, presented a lecture, titled “Everything about Startup M&A and Investment.” CEO Jiwoong Park answered the question of what is the most important quality of a venture capitalist. “If you invest for a long period of time, you may become arrogant and have too much confidence in a certain industry.” he told the audience. “So, maintaining your humility will help you build trust in relations and play a key role when investing.” On May 18, the third lecture series was given by Flitto CEO Jung-soo Lee, a crowdsourced translation platform. CEO Jung-soo lee talked frankly about Flitto’s founding story and a tough funding environment. “A company must prove it with its business performance, not the process that a founder went through,” he explained. “You will be able to endure the ruthless reality if you have a clear reason for starting your own business.” The last lecture series in Spring 2017 was held on June 13. Finda CEO Hyemin Lee, a financial product recommendation platform, gave a lecture which was jointly sponsored by Future Entrepreneurs’ Society (FES) under KUBS. In a lecture entitled “Serial Entrepreneur and Entrepreneurship,” CEO Hyemin Lee covered how she was able to seize startup opportunities consecutively and vividly described her experience on how startups that were not yet funded could survive from Death Valley.
189 Students Awarded KUBS Scholarships in Spring 2017
189 Students Awarded KUBS Scholarships in Spring 2017 On May 23 at 7:00 p.m., the Spring 2017 KUBS Scholarship Award Ceremony was held at Ahn Young Il Hall in LG-POSCO Building. At the ceremony, KUBS Dean Soo Young Kwon, Associate Dean Woochan Kim, Associate Dean Jae-Nam Lee, Cheon-gu Heo (President of KOSAC), Kwang Soo Seo (Management Committee Member of Chung Pyung Hwa Fashion Mall), Jahyung Koo (Vice President of KUBS Alumni Association), Sungho Oh (Director of KUBS Alumni Association), Taejin Kim (President of the Entering Class of 1982), Sang Dae Lee (Director of the Entering Class of 1982), Kwangseop Jung (Vice President of the 82nd Class of AMP Alumni Association), Ingoo Ahn (Vice Director of the 82nd Class of AMP Alumni Association), Seung Yeoul Yang (Chief Operating Officer of Samjong KPMG), Seung Hoe Goo (Chief Operating Officer of Samjong KPMG), Jin Park (HR Operations Director of Hyundai Motor Company) Jin Seok Park (M&A Leader of Mercer Korea) and nearly 140 scholarship recipients were present. The ceremony began with welcoming remarks by Dean Kwon followed by the presentation of scholarship certificates, guest’s speech, student representative’s thank you speech, and commemorative photo shoot. “Donating scholarships to students you do not know is possible only through sheer courage and love,” Dean Kwon said, thanking the donors. “Remember this grateful moment, and hopefully, you will be able to return the favor to future KUBS students,” he told to the students. After the remarks, dinner was served while the donors interacted with the students. The students expressed their gratitude, and the donors offered counseling, as being a life coach. KUBS granted a total of 35 scholarship funds this semester and awarded to 189 students: △Freshmen Special Scholarship (1 student), △J. K. Huh Foundation Scholarship (10 students), △Kowon Shimwoo Foundation Scholarship (6 students), △Soam Scholarship (12 students), △Yang Young Foundation Scholarship (4 students), Kim Keun Chang Scholarship (7 students), △Future Scholarship (50 students), △81st Class of AMP Scholarship (1 student), △82nd Batch of AMP Scholarship (1 student), △KUBS Dream Scholarship (78 students), etc. “If possible, I would like to meet the donor and thank him in person,” said Seoeun Han (Business, ’11) who received Soam Scholarship. “I will strive to be successful to show my appreciation and repay the favor.” Meanwhile, a total of 189 students were awarded, totaling 35.7 billion won, through the 35 scholarship funds. As of now, the percentage of students receiving scholarship aid, both internal and external, is 67% (scholarship overlap counted).
“Developing Business Acumen through Company Visits” – Korea MBA and S³ Asia MBA Domestic Field Trip
Korea MBA and S³ Asia MBA Domestic Field Trip “Developing Business Acumen through Company Visits” The Korea MBA (KMBA)’s Spring 2017 Domestic Field Trip took place in Yeosu and Gwangyang, South Jeolla Province for three days from April 28 to 30. The KMBA students were able to develop their business acumen by visiting △GS Caltex, △Yeosu Gwangyang Port Authority, △POSCO Gwangyang Steelworks, and △Korea National Oil Corporation’s Yeosu Underground Storage Base. The first company tour was held at GS Caltex’s Yeosu Plant, and company officials explained what “Oil Business” is. The second destination was Yeosu Gwangyang Port Authority. The students went on a cruise excursion and toured Gwangyang Bay riding on a tugboat. On the second day, they visited Gwangyang Steelworks to observe its internal hot strip mill. Providing the students the opportunity to learn about oil stockpiling projects and its business, the last day of the field trip took place at Korea National Oil Corporation’s Yeosu Underground Storage Base. “I have to say it was not easy to make a decision of participating in a field trip since I have to work and study at the same,” said Jongkyung Lee (KMBA, ’17) who participated in the field trip. “This turned out to be by far the best experience throughout the KMBA program.” The S³ Asia MBA (AMBA), a full-time MBA program, went on a domestic field trip for three days from April 19 to 21. The AMBA students had company tours at △POSCO, △Hyundai Heavy Industries, and △Hyundai Motor Company, and explored Korean history and culture in Gyeongju. The AMBA students visited POSCO’s Pohang Steelworks and learned about its history and steel industry. At Hyundai Heavy Industries (HHI) Ulsan Plant, they spent time at a memorial hall, which features achievements of the honorary chairman, to acquire knowledge of HHI businesses, such as offshore and engineering industry, green energy, and electro electric systems. The students also toured Hyundai Motor’s Ulsan Plant, the world’s largest car-making facility, to observe Korea’s representative industrial site ranging from the automotive manufacturing process to inspection.
“Getting Advice on College Life from Mentor Professors” – Faculty-Student Mentoring Day Held Successfully
“Getting Advice on College Life from Mentor Professors” The KUBS Faculty-Student Mentoring Day was held successfully…65 professors and 523 students joined the event and spent meaningful time The KUBS Faculty-Student Mentoring Day was held on the 10th, 13th, and 14th of April for three days in Ahn Young Il Hall and Cuckoo Hall of LG-POSCO Building. The mentoring day is designed to help KUBS students explore and adjust to college life. The program aims to pair a new student with a professor and provides a wide range of consultation services, such as studies, careers, jobs, and relationships. A total of 65 KUBS professors and 523 new students attended the event. After wearing their nametags, the students introduced themselves and spent time interacting with their assigned professors. They also completed a survey on △interested major, △career, △suggestions, etc. The professors also asked them questions about challenges in college life while reviewing over the students’ demographic surveys. The students shared their concerns as they chatted and enjoyed snacks. “I am not sure what activities I should do during the first year of my college,” one of the participating students questioned. “I hope you do not get overly obsessed with certificates and specs (derived from the word specifications: evaluation factors for employment such as work experience, educational backgrounds, and foreign languages), but embrace the changes and find activities that fit your lifestyle,” Professor Se-Joon Hong answered. “Your college experience will turn into a lifetime memory, so I recommend you make the best out of it.” Moreover, questions were raised about campus life. “You have been studying at KUBS for about a month. What is the most memorable moment of campus life so far?” asked Professor Hong to Jiwon Kang (Business, ’17). “The joint cheering orientation was impressive,” she replied. “Cheering together with my Entering Class was unforgettable to me.” The professors and students engaged in back-and-forth conversations on college life. “What is the first thing you wanted to do when becoming a college student?” asked Professor Jay Hyuk Rhee to Ji-Yoon Koo (Business, ’17). “Back in my high school days, I just studied. So this time, I want to explore around and build experience,” he replied. “I hope students will be able to find their career path and make their college life meaningful through this metoring day,” Professor Rhee said. In the meantime, the next KUBS Faculty-Student Mentoring Day will be held in Fall 2017.
Collaboration Event by the 82nd Class and 83rd Class of AMP
Collaboration Event by the 82nd Class and 83rd Class of AMP On May 15, the Collaboration Event by the 82nd Class and 83rd Class of Advanced Management Program (AMP) was held at SUPEX Hall in LG-POSCO Building. The event was organized to establish a strong network among the 82nd Class graduated last year and currently enrolled 83rd Class. “AMP motivated me to challenge and study further before it is too late,” said Executive Director Donoh Lee (82nd Class). “I hope this event gave the AMP graduates and students some relaxation. A female cello trio called “Steupeo” participated in the event and played classical music to the AMP graduates and students. The event, entitled “Classical Music Pulled Out from Concert Halls,” covered songs used in dramas, movies, and everyday life and made classical music easy to enjoy. Steupeo is a trio of cello buskers consisting of Beodeul Park, Jiyoung Park, and Jia Choi. The 82nd Class and 83rd Class drowned in the beautiful melody of cellos and erupted into rapturous applause and cheering.
“Every Successful Company Has Its Unique Story” – Special Lecture by AMP Alumni Association President Young-sik Kim
Special Lecture by AMP Alumni Association President Young-sik Kim “Every Successful Company Has Its Unique Story” On May 29, the AMP Alumni Association President Young-sik Kim gave a special lecture in SUPEX Hall of LG-POSCO Building. Nearly 80 attendees, including KUBS Dean Soo Young Kwon, Associate Dean Kyung Sam Park, Program Director Sang Yong Kim, and the 83rd Class of AMP, participated in the event. The AMP Alumni Association President Young-sik Kim is the founder of health food company “Chunho Food” and also the author of “Run Ten More Meters.” In his lecture, entitled “An Entrepreneur Starting from Scratch: Persistence Produces Miracles,” President Kim emphasized imagination is significant in order to succeed. “The five stages of imagination — observation, cognition, concentration, formation, and creativity — will always lead you to success,” he explained. “Since we tend to follow what we imagine, we need to think of the very best outcomes.” He mentioned that he experienced failure before achieving success in his field. President Kim, who at that time held more than 2 billion won in debt for four years, started his business with 200,000 won and was able to pay off his debt in two years. “I strived to put ideas into action,” he added. “Successful people do not put off their tasks until tomorrow.” President Kim also opened up the hardships he went through. His daughter once asked him, “Why is our family so poor?” Her question was a great impetus. In fact, he gave himself six months to sell mugwort herbs. The audience burst into applause when he shared the story of him wearing a khaki tie and shirt to advertise and sell herbs. “Every successful company has its unique story,” said he at the end of the lecture. President Kim said any experiences, such as flying on an airplane over 2,000 times or participating in a marathon while going to work, are all great stories to approach customers. “’Sincerity’ is the best advertising tool,” he said. “I hope you take a pride in your professional field.”
The 84th Class of Advanced Management Program (AMP) Admissions Open
The 84th Class of Advanced Management Program (AMP) Admissions Open Korea University Business School will accept applications until August 25 (Fri) for the 84th Class of the Advanced Management Program (AMP) admissions. AMP is designed for △CEOs and executives, △military generals, △2nd or higher grade civil servants, and △equivalent personnel. Less than 50 applicants will be accepted to the program. Lectures will be held every Monday night from 6:45 to 9:30 p.m. AMP not only covers management and economics but also invites notable figures from various fields, such as liberal arts, medicine, politics, arts, and law, to provide a solid grounding in many areas. Aside from lectures, the program offers a rich and diverse curriculum, which includes orientation session and seminar where all family members can join, overseas training program to visit industrial sites and prestigious universities, lectures delivered by alumni, and joint events to see performances. AMP participants can enhance practical expertise as well as their networks through these extracurricular activities. In addition, they will also have the opportunity to interact with over 4,000 alumni at a luncheon seminar and business forum with the AMP Alumni Association. Applications can be submitted online (amp.korea.ac.kr) or sent to the office through postal mail (mail to AMP Program Manager, Room 109 in KUBS Main Building, 145 Anam-ro Seongbu-gu, Seoul, Korea). Questions about the program can be directed to the AMP Program Manager (02-3290-1695). Meanwhile, since its creation, AMP has produced over 4,000 CEOs and has the largest and best alumni network in Korea. The program is ranked No. 1 among private universities in the “2017 AMP Preference Survey” by Korea Economic Daily.
“Talents Bring Success to Companies and Passion Makes Talents Grow” – Special Lecture by S-OIL Othman Al-Ghamdi
Special Lecture by S-OIL Othman Al-Ghamdi “Talents Bring Success to Companies and Passion Makes Talents Grow” “The most significant quality of a successful talent is passion. You have to put everything you have into doing what you like. Talents with passion are the source of energy to grow a company.” On March 31, S-OIL CEO Othman Al-Ghamdi delivered a special lecture in room 202 of Hyundai Motor Hall. Prior to his lecture, CEO Al-Ghamdi received an appreciation plaque by Associate Dean Kyung Sam Park and extended his thanks to Korea University Business School (KUBS) in Korean. The lecture covered △Introduction to Oil Industry, △S-OIL’s Successful Story, and △The Secret of Success. “Hundreds of everyday items are made from petroleum, even though we are not aware of it,” said CEO Al-Ghamdi at the beginning of his lecture. “Petroleum is the most effective and dominant resource for today’s mankind.” He assessed that the volatility of the oil market, which is the world’s interest, is expanding due to the influence of the financial market. Oil prices are heavily influenced by investment in production facilities, military and political conflicts by oil-producing countries, and OPEC’s moves. “Recent oil prices are fluctuating greatly within a matter of hours or even minutes, and this has a particular influence in the financial markets as well,” CEO Al-Ghamdi added. He lauded the Korean oil industry as having achieved “phenomenal success” and explained that it played a pivotal role in the Korean economy in areas of energy security, tax payment, exports, and many more by storing up crude oil and petroleum products. “Although Korea is unable to produce a single drop of oil, it is equipped with the world’s sixth largest crude refining facilities and has positioned itself as the world’s fifth oil exporter,” CEO Al-Ghamdi said. “Last year, domestic refiners generated 57% of their sales through exports. If we add petrochemical products as well, oil is the No. 1 export product in Korea.” Moreover, CEO Al-Ghamdi elaborated that △differentiating product quality, △implementing creative marketing, △adopting export-oriented strategies, △making timely investments, △securing the world’s largest production capacity, and △creating synergy with Saudi Aramco (stable supply of crude oil, optimization of international markets, sharing of personnel) are S-OIL’s secrets to becoming a global conglomerate. On top of that, he added that employees who carry out his principles “Passion, Work, Good, Focus, Push, Serve, Ideas, Persist” are the most important contributors to success. “I hope you young talents will become passionate leaders who can cope with changes,” said he at the end of the lecture.
Recipients of the 2nd Seok-top Research Award
Recipients of the 2nd Seok-top Research Award Professor Martin Hemmert (International Business), Professor Mannsoo Shin (International Business), and Professor Ju Hyun Pyun (International Business) won the 2017 Seok-top Research Award. The award is granted to reward professors with excellent research achievements for their contributions and to encourage research. The judging criteria for the 2nd Seok-top Research Award are based on △academic research papers, △academic research journals, and △research grants. Faculty members who either have published papers in NSC Journal (Nature, Science, Cell Journal) as a first author or are in the top 3% of nine divisions — adding up the scores of △research quality, △research quantity, and △total research grants — have been selected as awardees.
Fall 2016 Seok-top Teaching Award Recipients
Fall 2016 Seok-top Teaching Award Recipients Six Korea University Business School (KUBS) faculty have been selected as recipients of the Fall 2016 Seok-top Teaching Award. The recipients are △Professor Byung Cho Kim, △Professor Jaehwan Kim, △Professor Kyung Sam Park, △Professor Hojung Shin, △Professor Kwan Hee Yoo, and △Professor Wooseok Choi (in the order of the Korean alphabet). The awarded courses include △Introduction to Operations Management (English) by Professor Byung Cho Kim, △Marketing Research (English) by Professor Jaehwan Kim, △Management Science by Professor Kyung Sam Park, △Introduction to Operations Management (English) by Professor Hojung Shin, △Principles of Accounting by Professor Kwan Hee Yoo, and △Intermediate Accounting I (English) by Professor Wooseok Choi. The Seok-top Teaching Award has been awarded since Spring 2004 as part of the “Teaching Performance Incentive System” in order to improve teaching quality and the educational environment. An award recipient is selected based on average scores provided by students who completed course evaluations at the end of a semester. Eligible awardees are full-time professors who are listed in the top 5% of each category: major courses offered by respective department, lectures delivered in English offered by respective division, and electives. Meanwhile, the recipients of the Teaching Excellence Award, granted to professors recognized in the top 20% of each division every semester, are as follows: △Professor Sang Yong Kim, △Professor Icksoo Kim, △Professor Jinbae Kim, △Professor Jungbien Moon, and △Professor Jay Hyuk Rhee (in the order of the Korean alphabet).
Emeritus Faculty Appreciation Party Held to Celebrate Teachers’ Day
Emeritus Faculty Appreciation Party Held to Celebrate Teachers’ Day On May 11 at 12:30 p.m., the 2017 KUBS Emeritus Faculty Appreciation Party was held. The appreciation party, an annual event hosted by KUBS to celebrate Teachers’ Day, was planned out to convey gratitude to the professors emeriti. A total of 12 professors (△Dean Soo Young Kwon, △Associate Dean Jaehwan Ki, △Associate Dean Woochan Kim, △Associate Dean Kyung Sam Park, △Associate Dean Jae-Nam Lee, △Professor Emeritus Ho Jin Kang, △Professor Emeritus Sang Koo Nam, △Professor Emeritus Soo Sik Sin, △Professor Emeritus Joon Young Shin, △Professor Emeritus Joon Bum Lee, △ Professor Emeritus Young-sup Yun and △Professor Emeritus Ik Soon Cho — in Korean alphabetical order) attended the event. “Professors emeriti, who devoted to students and the university, have been instrumentals in the growth of KUBS,” said Dean Kwon in his thank you speech. “Through this event, we were able to ruminate on lessons we have learned in the past and what true education is.”
The KUBS Beginning of Semester Party for International Students
The KUBS Beginning of Semester Party for International Students On March 16, the Beginning of Semester Party for KUBS International Faculty & Students was held in Ahn Young Il Hall of LG-POSCO Building. The Beginning of Semester Party, hosted by KUBS International Office, was organized to help international students and faculty members adjust to school life. Around 150 international students and professors, including KUBS Dean Soo Young Kwon, attended the event and socialized with each other. “I hope you all can build meaningful experience here at KUBS and be satisfied with your school life,” said Dean Kwon in his welcoming remarks. “You are welcome to come see me anytime if you have concerns or hardships.” The international undergraduates, graduates, and exchange students had time to share their lives at KUBS. Afterward, a networking session was held along with snacks. “Thanks to unstinting support from KUBS, I have no problem adjusting to life at the university,” said Edgar Nuwajuna, President of KUBS Global which is a student-led club helping regular KUBS international students. “I hope there will be more opportunities to interact with international students and professors.” Meanwhile, KUBS has a total of 405 international students and 95 exchange students as of Spring 2017. KUBS currently runs two programs called “KUBS Buddy (support for exchange students)” and “KUBS Global (support for regular international students)” to assist international students receiving global business education at KUBS.
“All Robots Fall Down; Do Not Fear Failure and Keep Challenging Yourself” – Special Lecture by Dr. Dennis Hong
“KUBS Futurum – Lecture Series” Launched…Dr. Dennis Hong Invited “All Robots Fall Down; Do Not Fear Failure and Keep Challenging Yourself” On May 22 at 4:00 p.m., Korea University Business School (KUBS, Dean= Professor Soo Young Kwon) hosted a special lecture featuring Dr. Dennis Hong, a professor at the University of California Los Angeles (UCLA), at SUPEX Hall in LG-POSCO Building as part of the “KUBS Futurum – Lecture Series.” Dr. Hong is world-famous robotics scholar known for developing a self-driving vehicle for the visually impaired and for awarding the Brilliant 10 by Popular Science in 2009. Around 250 people attended and heated up the lecture. ▶ Click here to view photos from the event ◀ “The KUBS Futurum is our effort to take steps into the future,” said KUBS Dean Soo Young Kwon during his welcoming remarks delivered prior to the special lecture. “I hope this lecture will allow KUBS to successfully prepare for the fourth industrial revolution.” Dr. Dennis Hong gave a lecture titled “All Robots Fall Down” for two hours. He began his lecture by saying, “Why must robots look like humans?” A humanoid robot is a robot that resembles a human. As the human body is incredibly complex, it is difficult to make robots walk on two legs like humans. Despite an intricate system of the human body, researchers are obsessed with creating humanoid robots that live together with people. To be used in daily life, robots must be in human form. Stairs and doorknobs are designed suitable for the human body to use. If robots do not have the shape of a human body, they may not be capable of use or access to tools for everyday life. Dr. Dennis Hong developed a robot called DARwIn and participated in the RoboCup. The competition, also known as Robot World Cup, is the world championship series for robots playing soccer from all over the world. Its mission is to field a team of robots capable of winning against the human soccer World Cup championship by 2050. “In DARWIN’s first RoboCup, it failed to kick a ball but instead hit a soccer-playing robot from the opposing team,” Dr. Hong said. “Even though we were disappointed about the results, when we saw the RoboCup trophy, we promised to win the championship next time.” After many trials and failed attempts on robot development, Dr. Hong finally won the championship. He then began his challenge of developing robots helping people. Dr. Dennis Hong, who believed the previous robots were too expensive and thus were inappropriate for education, developed “DARwIn-RoMeLa” and made his manuals for fabrication and assembly available online for free. People tried to persuade him not to give away his hard work, but it was no use. “Every time I am at a moment of choice, the reasons for starting this research crossed my mind,” he said. “Since I developed robots for both research and education, it is right to open up my technology for free.” His reason for participating in the DARPA Robotics Challenge, a competition in which robots perform complex, physically challenging tasks in a context of disaster scenarios, was also similar to this. Dr. Hong visited Fukushima, Japan after its nuclear plant disaster. As he saw the devastated radiation damage, he decided to develop a rescue robot that can save human lives. “During the Fukushima Nuclear Plant disaster, if there was someone to open a valve to avert an explosion, this tragedy could have been prevented,” Dr. Hong said. “What is the point of developing if we are unable to create robots that save humans and the world?” Dr. Hong have failed over and over during the competition. For instance, his robot’s head was torn apart by the wind at the preliminary rounds. One time, the robot fell over during the rehearsal, and his team had to rebuild its arm the day before the competition. Nevertheless, Dr. Hong accomplished the mission without giving up. Although he failed to garner an award, he invented NABiRoS, a two-legged robot, and BALLU, a balloon-bodied robot that never falls over, based on the past experience he went through. “All robots fall down and learn. Humans are the same as well,” Dr. Hong said meaning that just as robots fall over, break down, and overcome mechanical malfunctions, humans also enhance areas they lack and find an opportunity to challenge through numerous failures. “Do not fear failure and keep challenging yourself,” he added at the end of the lecture. “If you continuously ask yourself questions and enjoy challenges, you will be able to achieve your goal in the future.” Meanwhile, “Futurum,” which also means future in Latin, is a compound word made up of “Future” and “Forum.” The forum consists of a total of four sessions as follows: △Lecture Series, △Asia Trilateral Seminar, △Roundtable, and △Business and Economic Outlook. The KUBS Futurum aims to discover and ponder the future issues that Korean society and economy will confront as well as offering insights. Under the slogan “KU-the Future,” signifying that KU will open, lead, and make the future, since 2015, Korea University has been exerting its utmost efforts to nurture talents for the future society. Dr. Dennis Hong’s special lecture was held as part of the Lecture Series. The Asia Trilateral Seminar will be held this coming August in conjunction with Peking University in China and Hitotsubashi University in Japan. The purpose of the seminar is to share plans prepared for the fourth industrial revolution with China and Japan which are deeply tied to Korea economically. The seminar, titled “Strategies for Korean, Chinese, and Japanese Companies Entering Period of Low Growth," includes a debate on the changes in the future society and strategies and policies to lead the future. The Roundtable, held on the day before Ko-Yon Games (an annual student-led sporting event), is an annual discussion with invited alumni. The themes of the session are the past, present, and future. KUBS alumni will gather around to look back on the past, understand the present, and seek solutions to actively cope with a complicated future. In December, KUBS and the Department of Economics will jointly run the “Business and Economic Outlook.” Although a number of institutes in Korea and abroad release the microeconomic outlook, there is no single institute that provides specific outlook by industry. KUBS and the Department of Economics plan to publish a prospect report, covering quantitative outlook by sales, revenues, and investments of each industry. Reports will be released at an open seminar held in every early December and distributed online for free. View Related Articles 경영대학이 제시하는 미래비전, ‘KUBS Futurum’
KUBS Startup Institute Holds “CHOO CHOO DAY”
KUBS Startup Institute Holds “CHOO CHOO DAY” “CHOO CHOO DAY” helps business to be successfully stabilized through practical investment network. On May 18 (Thu) from 4:00 p.m. to 7:00 p.m., “The 2017 CHOO CHOO DAY” was held at the second floor of KUBS Main Building. The event was hosted by Korea University Business School (Dean=Professor Soo Young Kwon) and supervised by the KUBS Startup Institute. CHOO CHOO DAY is a demo day of the KUBS Startup Station, which is a startup incubation platform, and also is the last event of a six-month startup incubation program. The event was filled with enthusiasm of 150 participants including prospective entrepreneurs, venture capitalists, accelerators, and angel investors. The participating startup teams who joined the CHOO CHOO DAY are as follows: ① REDROCKET (crowdfunding service for college students), ② TRANDIST (market place using celebrity), ③ Kidop (customized 1 to 1 home visiting education service for children, ④ Taling (P2P talent sharing online platform), ⑤ VLOGR (video editing service), ⑥ Artridge (exporting Korean emoticons), and ⑦ CANVAS (3D printing/production/sales platform for jewelry designers. The seven startup teams had the opportunity to present their products and services for ten minutes each at the open IR (Invest Relations) session and information booths. The startup teams at the KUBS Startup Institute were selected through a startup competition called “The 2016 Startup Express.” Prior to the competition, only ten percent of applicant teams passed the application screening process and interview. Each team was granted a budget for operation expenses of 1,000,000 won. They also received an office space, available on the second floor of the Iljin Center for Startup Incubation, networks, and advertising & marketing services for free. The companies that signed an MOU with KUBS, such as △Kim & Chang (law firm), △PwC (accounting firm), △Amazon Web Service, and △Y Crowdfunding, provided practical business support as well. Over the past six months, venture capitalists and angel investors reviewed the overall business performance by conducting five times of mentoring sessions and mid-term appraisals. “This demo day has allowed our business to be more concretized and made us think about how to attract investment in reality,” said Vlogr CEO Taejun Lee who presented at the CHOO CHOO DAY. “As we diligently prepared for the event, I hope there will be fruitful results.“
“Global CEO Special Lecture” Course by Living Hankook CEO Young Mok Kim
“Global CEO Special Lecture” Course by Living Hankook CEO Young Mok Kim On April 27 (Thu), Living Hankook CEO Young Mok Kim presented a special lecture in room 432 of LG-POSCO Building. CEO Kim majored in Fine Arts at Washington University in St. Louis and also is an alumnus of the First Class of the KUBS Executive MBA. He established a global ceramics brand called “Prouna” and has lead to great success in Korean ceramics. The lecture included △Prouna Success Story, △Engines of Success, and △Vision of Living Hankook. When CEO Kim announced that he will create a luxury ceramics brand in Korea, most people thought it was impossible. “I barely convinced the chairman and received a 10 million won budget along with one year of time,” CEO Kim said. “I had to resign from my job if I could not make Prouna successful.” Although CEO Kim faced difficulties due to lack of budget and time, he successfully founded a global brand with the help of people around him and his passion. “Since the budget was limited, I had to create everything by myself – from making a brand name to brochure,” he added. “I was able to overcome the challenges by having faith in my dream and the people who built up a good rapport with me.” Prouna is already launched in department stores all over the world, including British luxury department store Harrods. In addition, the brand has been selected as one of the Queen Elizabeth’s birthday presents. “If you believe in your dream and stay humble, people will automatically lend you a helping hand,” said CEO Kim at the end of the lecture. “Always dream big and endeavor to achiever your goal.”
“Global CEO Special Lecture” Course by Etienne Rolland-Piègue, First Counsellor of French Embassy in Korea
“Global CEO Special Lecture” Course by Etienne Rolland-Piègue, First Counsellor of French Embassy in Korea On April 27 (Thu), Etienne Rolland-Piègue, first counsellor of French Embassy in Korea, delivered a lecture in room 432 of LG-POSCO Building. The lecture, titled “Economic and Management Studies in France,” covered an overview of promising economists by generation and an introduction to graduate schools of Economics and Business in France. “Among 25 brightest young economists selected by the International Monetary Fund (IMF), seven are alumni of a French graduate school,” First Counsellor Rolland-Piègue said. “In order to become a worldwide economist, I suggest you to enroll in a graduate school of Economics in France.” He emphasized that a French graduate school offers a more efficient MBA curriculum than a U.S. graduate school, as well as providing practical education. At the end of the lecture, the first counsellor mentioned Korean economist W. Chan Kim who is a professor at INSEAD. “Anyone can become a worldwide economist like Professor Kim if they work hard,” he added. “If you are interested in Mathematics and Economics, I recommend you to study Economics.”