KUBS News

A Look Back at the History of the Best Business School
Nov 18, 2016
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A Look Back at the History of the Best Business School
THE FIRST and THE BEST: KUBS History
 
 
Korea University Business School (KUBS) has always been referred as “The First and The Best.” This is because KUBS is a pioneer breaking new grounds in business education. The business school does not stay complacent but push the boundaries of what is possible.
 

The First Business Education in Korea
KUBS introduced business education for the first time in Korea. When Korea was deprived of its sovereignty due to Eulsa Treaty in 1905, Bosung College, the predecessor of Korea University, was founded with prayers to save the nation through education. Bosung College started with two departments which are the Department of Plutology and the Department of Law. Plutology, the study of asset management, evolved into Commerce and later became Business Administration.
 
Of the numerous departments at Korea University, KUBS is, indeed, the hub. Until Yonhi College, the predecessor of Yonsei University, was founded and developed the Department of Commerce in 1917, Korea University was the only school in the nation that nurtured business leaders. And that is the reason why KUBS has been known as the cornerstone in business education in Korea.
 
In addition, KUBS was the first to introduce modern western business education to Korea. In 1937, the nation’s first “Business Economics” course was offered by KUBS. The course, which was derived from German business education, was innovative in Korean business education at that time.
 
As Bosung College expended to a university in 1946, Korea University established the Department of Commerce. In 1952, the Korea’s first Master’s degree in Commerce was conferred to the genius business scholar Byung Wook Yoon who passed away prematurely. The “Business Economics Journal,” the first academic journal, has been published since 1953. Of course, Korea University was the first to launch the department that is almost similar to the today’s Department of Business Administration. The Department of Business Administration was officially founded in 1955, four years prior to the establishment of Yonsei School of Business
 
Institute for Business Research & Education, Origin of Research-oriented Academic Traditions
The Institute for Business Research & Education (IBRE), the first research institute in the nation, was established in 1958. IBRE is being recognized as the origin of today’s institutes as its accomplishments and operating systems have widely distributed to academia and companies. Up to this day, the IBRE’s business condition survey, which was conducted on 2500 stores in 1959, is well-known as an exemplary model for site analysis. IBRE issued KU Business Journal in December 2016. Under the slogan of “Company Success and Economic Development,” the journal has contributed to increase in company productivity by introducing new theories to industrial sites. 
 
 
Korea’s First Professional Graduate School of Business
The history of graduate business schools started from Korea University as well. The university launched a “Business School” and admitted the first new students in January 1963. The establishment of KUBS is still recognized as an excellent insight into pioneering the future. Following the Education Reform Program by the Korean government, the Graduate School of Business changed to Korea University Business School (consisting of MS, PhD, and MBA programs) as of September 2006. KUBS was ranked No. 1 for five consecutive years from 2007 to 2011 in the government project “BK21 Plus,” which was evaluated based on faculty, program excellence, infrastructures, etc. Among the SKY (the three most prestigious universities in Korea: Seoul National University, Korea University, and Yonsei University), KUBS was the only business school to be selected for the large-scale project of “BK21 Plus” in 2014.
 
KUBS Continues Its Reputation for Being the First and the Best
The reputation for being the first and best is still ongoing. The achievements such as global internship, appointment of international faculty and women professors, launch of Business Forum, and the establishment of Video Education Center and Asian Institute of Corporate Governance, were accomplished by KUBS for the first time. KUBS was the first in the nation to earn AACSB accreditation from the American Association of Collegiate Schools of Business (AACSB) and EQUIS (EFMD Quality Improvement System) accreditation from the European Foundation for Management Development (EFMD) in 2005 and 2007, respectively. In addition, KUBS was the first domestic business school to earn its first five-year reaccreditation for both AACSB and EQUIS in 2010 and succeeded in renewing its second five-year re-accreditation in 2015 as well. Furthermore, KUBS reaffirmed its world-class standing by becoming a full academic member of the CEMS Global Alliance — an exclusive group of academic and corporate members where only the single best business school per nation is granted membership.

While staying on the top, KUBS has been producing a large number of intellectuals trailblazing the future over the past 111 years. KUBS strives to become a pioneer writing a new history in the 21st century.