History

 
KUBS History
 
Korea University Business School (KUBS) should always be accompanied by the modifier “first.” This is because KUBS is a trailblazer in business education, leading the way in exploring new areas, pushing the boundaries of what is possible, and not being complacent.

KUBS was the first university department in Korea to open its doors to business studies. In 1905, when Korea lost its sovereignty to Japan under the Korea-Japan Treaty, Korea University was born out of national aspirations to save the nation through education. Originally known as Bosung College, it was founded with two departments, Plutology and Law. Plutology, the scientific study of wealth, evolved into Commercial Science and then into the business school we see today, one of the cornerstones of modern-day Korea University.

Korea University was the only place where business talent was nurtured in Korea until 1917, when Yonhi College, the former body of Yonsei University, opened and established the Commercial Science Department. This is why KUBS is considered the cradle of business education in Korea.

KUBS was also the first to introduce Western-style business studies to Korea. In 1937, it established the Business & Economics course, laying the foundation for German business studies to follow and completely revolutionizing the field in Korea.

Elevated to the status of a university in 1946, Korea University established the Commercial Science Department in the Economics & Commercial Science College. In 1952, it produced the first graduate in Korea with a master’s of business administration, the late Professor Yun Byeong-uk. In 1953, KU Business & Commerce Journal, the first business academia journal in Korea, was published. In 1955, Korea University opened the Department of Business Administration, the first of its kind in Korea, four years earlier than the Business Department at Yonsei University.

 
In 1958, Korea University created the Center for Business Research & Education, another first, the output of which, both in terms of human resources and business knowledge, spread throughout academia and business in Korea, thereby serving as the origin of many Korean research institutes today. In 1959, the Center conducted a study of the business environments of 2,500 stores, which is still talked about today as a model on-site analysis. In December 1960, with the goal of business prosperity and economic development, the Center launched the Business Newspaper, significantly contributing to boosting the productivity of industry by introducing novel theories.

Korea University also rewrote business school history in Korea. In January 1963, Korea University established the Graduate School of Business Administration and recruited the first MBA students. This is seen today as an excellent example of trailblazing foresight. Under a period of government educational reform, the Graduate School was converted into the Professional Graduate School of Business Administration. More recently, KUBS ranked first for five consecutive years from 2007 through 2011 in the second phase of the governmental BK21 project, evaluating across all areas, including faculty, programs and infrastructure. In 2013, KUBS was the only school of its kind selected for the BK21 PLUS(Program for Leading Universities & Students) project, beating out its competitors at Seoul National University and Yonsei University.

The reputation of KUBS as the first, best, and biggest has been longstanding, and it looks to last well into the future. KUBS has initiated a number of programs, including overseas internships, the recruitment of full-time foreign instructors and female professors, the establishment of the Business Forum, and the founding of the Video Education Center and the Asian Institute of Corporate Governance. 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 re-accreditation for both AACSB and EQUIS in 2010 and succeeded in renewing its second five-year re-accreditation in 2015 as well. In addition, KUBS has recently 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.
KUBS faculty have also proven their research capabilities to be among the best in the world. In “The UTD Worldwide Top 100 Business School Rankings Based on Research Contributions” conducted by the University of Texas at Dallas (UTD), KUBS ranked No. 91 worldwide and No. 1 in Korea. While other domestic business schools have been placing in the top 150 or below, KUBS has consistently placed within the top 100 since 2011.

KUBS has been operating “The KUBS Worldwide Business Research Ranking” since 2015, based on the vision of “World-Class Knowledge Hub in Business.” This system was established in order to independently improve and develop the pre-existing ranking systems in the world. KUBS, as a leader of business education in Asia and beyond, will not merely be evaluated by other entities.

As the best in Korea, KUBS has educated numerous talented individuals with the potential to lead Korea’s future over the past 110 years and will continue in playing its role as a pioneer in history in the global era of the 21st century.

 

2017

2016

  • Ranked 24th worldwide and 1st in Korea in “The Top 100 Executive MBA Rankings” by Financial Times in United Kingdom
  • Ranked 102nd worldwide and 1st in Korea in “The UTD (University of Texas at Dallas) Top 100 Business School Research Rankings”
  • Ranked 76th worldwide and 1st in Korea for the subject of Business and Economics” in “THE World University Rankings by Subject 2016-2017 by Times Higher Education (THE) in United Kingdom
  • Ranked 97th worldwide, 8th in Asia, and 1st in Korea for the subject “Economics and Business” in “The 2017 Best Global Universities Rankings” by U.S. News & World Report
  • ​Ranked 45th worldwide for the subject of Business & Management and 47th worldwide for the subject of Accounting & Finance in “The 2016 QS World University Rankings”
  • Ranked 74th worldwide and 1st in Korea in “The 2016 KUBS Worldwide Business Research Rankings”
  • Ranked 1st for nine consecutive years in “The Nationwide Business School Assessment by HR Manager of Top 200 Companies” by Hankyung Business
  • Ranked 1st for four consecutive years in “The Nationwide MBA Assessment by HR Managers of Top 200 Companies” by Hankyung Business
  • Outperformed in Business Area of "The Joongang Daily Comprehensive University Assessment Rankings”
  • Ranked 1st in producing 118 successful CPA candidates on “The 51st CPA Examination”
  • Launched KUBS Startup Institute – Opened “Iljin Center for Startup Incubation” and “Seung Myung-Ho Center for Entrepreneurship Education”

2015

  • Ranked 91st worldwide and 1st in Korea in the UTD Top 100 Business School Research Rankings (UTD Rankings)
  • KUBS 110th Anniversary Event – “KUBS STORY” and “Wall of Honor” launched
  • Ratified as a full academic member of the CEMS Global Alliance
  • Earned 5-year EQUIS (EFMD Quality Improvement System) re-accreditation for the second consecutive time (unprecedented in South Korea)
  • Ranked 27th worldwide and 1st in Korea in the Top 100 Executive MBA Rankings by Financial Times in UK
  • Ranked 1st in “The Nationwide Business School Assessment by HR Managers of Top 200 Domestic Companies,” conducted by Hankyung Business, for eight consecutive years
  • Ranked 1st in “The Nationwide MBA Assessment by HR Managers of Top 200 Domestic Companies,” conducted by Hankyung Business, for three consecutive years
  • KUBS Career Development Center won grand prize at the “2015 National Brand Awards” in the career development services sector for three consecutive years
  • Ranked 1st in the “2015 AMP Preference Survey” among private universities
  • Established “KUBS Dream Scholarship”
  • Launched KUBS Student Ambassador “KUBE”
  • Held the First KUBS Teen Mentoring Day
  • Retirement of Professor Jang Rho Lee
  • Held the 35th KUBS Alumni Night (a total of 167,750,000 KRW donation delivered by Entering Class of ’90)

2014

  • KUBS ranked 89th in the UTD Top 100 Business School Rankings, the highest among Korean universities.
  • KUBS topped the 2nd Top 200 Businesses Evaluation of Professional Graduate Schools by Korea Economic Magazine, for two consecutive years.
  • KUBS Career Development Center won the Grand Prize for the 2014 National Brand Award for the second consecutive year (Joongang Ilbo).
  • The Dean of KUBS was selected as one of 2014’s Most Powerful Business Leaders in Korea (JTBC).
  • ‘KUBS-KEDGE Eurasia MBA’ Agreement Conclusion and Liaison Office opening at Bordeaux Campus in France
  • Liaison Office Opening at Anam campus in Korea to promote ‘KUBS-KEDGE Eurasia MBA’
  • ‘The 2nd Asia-Pacific Business School Deans Summit’ held
  • KUBS topped the best in Humanities and Social Science Department evaluated by Joongang Ilbo
  • KUBS topped the 1st in ‘Top 200 Businesses Evaluation of Business School by human resources managers’ for the 7th consecutive years by Korea Economic Magazine.

2013

  • KUBS ranked 88th in the UTD Top 100 Business School Rankings, the highest among Korean universities
  • KUBS ranked 86th in the FT Top 100 GMBA, the second-highest among Korean universities (Financial Times)
  • KUBS topped the 1st Top 200 Businesses Evaluation of Professional Graduate Schools by Korea Economic Magazine
  • KUBS Career Development Center won the Grand Prize for the 2013 National Brand Award (Joongang Ilbo)
  • KUBS produced the largest number of CEOs in 90 Korean financial firms (announced by the financial sector )
  • KUBS won the Grand Prize of Talent Management in the 2013 Korea Business Award (The Dong-a Ilbo)
  • KUBS produced the largest number of CEOs in the top 500 Korean businesses (CEO Score)
  • KUBS produced the largest number of owners of the top 500 Korean businesses (CEO Score)
  • KUBS produced the largest number of successful candidates in the 48th CPA test
  • KUBS won the Grand Prize of Creative Talent Management in the 2013 Future Creative Economy Award (The Korea Economic Daily)
  • KUBS Professional Graduate School was selected for the BK21 Plus project (Ministry of Education)
  • KUBS won the Grand Prize of Global Talent Management for the 2013 Korean Top Business Leader Awards (The Dong-a Ilbo)
  • KUBS hosted the first ever Asia-Pacific Business School Deans Summit
  • The Hyundai Motor Hall was completed
  • KUBS ranked 22nd in the FT Top 100 EMBA, the highest ranking among Korean universities for the third consecutive year (Financial Times)

2012

  • KUBS ranked 86th in the UTD Top 100 Business School Rankings, the highest among Korean universities
  • KUBS topped the evaluation of BK21 professional business graduate schools for six consecutive years (Ministry of Education, Science & Technology)
  • KUBS ranked 12th in the FT Top 100 EMBAs, the highest among Korean universities (Financial Times)
  • KUBS topped the Top 200 Businesses Evaluation of Professional Graduate Schools for the fifth consecutive year (Korea Economic Magazine)

2011

  • KUBS ranked 1st in the Top 200 Businesses Evaluation of Professional Graduate Schools for the fourth consecutive year (Korea Economic Magazine)
  • KUBS topped the evaluation of BK21 professional business graduate schools for the fifth consecutive year (Ministry of Education, Science & Technology)
  • KUBS ranked 23rd in the FT Top 100 EMBAs (Financial Times)
  • KUBS the only Korean university to join the ranks of the UTD Top 100 Business School Rankings

2010

  • KUBS topped the evaluation of BK21 professional business graduate schools for the fourth consecutive year (Ministry of Education, Science & Technology)
  • KUBS was the only Korean school to gain a five-year re-accreditation from both AACSB & EQUIS
  • KUBS ranked the highest among Korean business schools in the UTD Top 100 Business School Rankings
  • KUBS produced the largest number of successful candidates in the 45th CPA test

2009

  • KUBS ranked the highest among Korean business school in the global business school evaluations
  • KUBS ranked the highest among Korean business school in the UTD Top 100 Business School Rankings
  • KUBS ranked 35th for the number of published financial papers in leading international journals, the highest in Korea

2004

  • Sudang Digital Library opened

2003

  • LG-POSCO Hall was completed

2000

  • The remodeling and renovation of the KUBS Main Hall was completed

1998

  • The Institute for Business Research & Education hosted an international conference commemorating its 40th anniversary

1997

  • The Center for Business Research & Education was expanded into the Institute for Business Research & Education
  • KUBS Academy was established

1996

  • The Video Education Center opened
  • The Advanced Information & Communication Program in the Graduate School was launched
  • KU Department of Business Administration was selected as the top department  as evaluated by the Ministry of Education and the Korean Council for University Education

1995

  • KU Business Forum was launched
  • The Departments of Business Administration and International Trade were combined into the Business Administration Department

1994

  • Internship for overseas companies was established

1988

  • The Annex (currently Hyundai Motor Hall) was completed

1987

  • KUBS Alumni Association was launched

1985

  • The 1st Alumni Night of the Business Administration Graduate School was held

1983

  • The Trade Research Institute was incorporated into the Center for Business Research & Education

1982

  • The KUBS Sponsors Association was launched and Kim Sang-hong was elected the first president
  • The 1st KUBS Alumni Night was held

1981

  • The graduation quota system was introduced

1977

  • Dual degree and minor systems were implemented

1976

  • The College of Commercial Science was renamed the College of Business Administration
  • The Advanced Management Program (AMP) was established in the Graduate School of Business Administration
  • The graduation thesis system for undergraduate programs was adopted

1972

  • KUBS signed an academic exchange agreement with the Philippines’ AIM
  • The KUBS Main Hall was completed

1971

  • Thomas J. Coolidge Jr., CEO of the U.S. Back Bay-Orient Enterprises, donated USD 50,000 and books (Center for Business Research & Education)

1970

  • Department of International Trade was established
  • International Trade Research Institute opened

1968

  • Department of Commercial Science was incorporated into the Department of Business Administration

1965

  • Day Program was established in the Business Administration Graduate School

1964

  • Alumni Association of the Graduate School of Business Administration was launched

1963

  • The establishment of the Graduate School of Business Administration was approved (MBA & one-year research program)
  • Business Research was published for the first time (Center for Business Research & Education)

1960

  • KU Business Newspaper Agency was founded
  • The Night Program was established in the Business Administration Graduate School
  • KUBS students took to the streets, calling for the end to the dictatorship
  • Kim Jae-u of the Commercial Science Department and Hwang Hyo-seon of the Business Administration Department were seriously wounded

1959

  • Center for Business Research & Education published Business Monthly Magazine and Business Statistics Data
  • The Journal of Business and Commerce Treatises was renamed the Journal of Business Treatises

1958

  • Center for Business Research & Education was founded

1957

  • Cooperation agreement for hands-on business education was signed with Washington University in St. Louis

1955

  • Mock Shareholders Meeting was launched as an annual event
  • The College of Economics & Commercial Science was abolished, and the College of Commercial Science was launched. The Department of Business Administration was established, the first of its kind in Korea
  • The Economics Department under the College of Economics & Commercial Science was transferred to the Department of Political Science and Economics under the College of Liberal Arts and Sciences

1954

  • The Journal of Business and Commerce Treatises Collection was published

1953

  • The KU Business & Commerce Journal for the business studies community is published

1952

  • KUBS produced its first graduate with a master’s of commercial science (Yun Byeong-uk)

1950

  • The 1st Abacus Calculation Contest was held for secondary schools nationwide

1948

  • Kim Seong-jib (Commercial Science Department) won the first Olympic medal for South Korea since its foundation

1947

  • Seo Yun-bok (1st two-year program in the Commercial Science Department) won the Boston Marathon

1946

  • The Commercial Science Department in the College of Economics & Commercial Science wa established

1945

  • Economics Department was renamed the Department of Commercial Science
  • The university name was changed again to Bosung College

1944

  • The Commercial Science Department was renamed the Department of Economics

1938

  • Sohn Gi-jeong, Olympic gold medalist and student of Bosung College, was forced to drop out of the school

1937

  • The Business & Economics course was created (the first to introduce German business administration)

1932

  • Kim Sung-soo, pen-name Inchon, took over Bosung College

1930

  • Bosung College students Lee Won-chil and Park Seung-pal were arrested in relation to the Gwangju students’ movement

1919

  • Bosung College students, including Bang Jeong-hwan (pen-name Sopa), were expelled from the school in relation to the March 1st Movement

1910

  • Sohn Byung-hee, pen-name Uiam, took over the management of Bosung College
  • The Economics Department was renamed the Department of Commercial Science

1907

  • The Department of Plutology produced its first graduates (18 students)

1905

  • A two-year program in the Plutology Department was launched, the first of its kind in Korea (Bosung College)
  • Lee Yong-ik embarked on the establishment of Bosung College
  • Emperor Gojong of the Korean Empire endowed a royal grant to fund the foundation of Bosung College