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Korea University Business School

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21.02.19
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2020.05.06
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THE FIRST & THE BEST

As the birthplace of business education in Korea, KUBS has pioneered its development over the course of modern history.

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KUBS NEWS

KUBS students win excellence award in 22nd Economic Universiade

KUBS students win excellence award in 22nd Economic Universiade KUBS students, Nam Jae Yong(Business ’16) and Lee Taek Joon(Business ’17), won the excellence award in the economics essay field in 22nd Economic Universiade, hosted by E-daily and sponsored by Ministry of Strategy and Finance. Economic Universiade competition is held every year to △develop career paths △enhance cognitive abilities △contribute to the real economy △foster globally talented youths. ‘Green New Deal and Digital New Deal’ was the topic for 22nd Economic Universiade competition. Undergraduates and graduate students participated and competed fiercely in four essay fields: △Economics △Employment △Industry △Education. In the economics essay field, which Nam Jae Yong and Lee Taek Joon won the excellence award, participants were required to submit an essay within ten sheets (A4) and give a presentation about ‘the Green New Deal or Digital New Deal’s impacts on the Korean economy.’ In their major course, they further developed a model which they had previously worked on while preparing for KUBS Social Value Research Competition. The two students participated under the team name ‘Team KUBS(Korea University Business School)’ and showed their love for the school.   Q. Congratulations! Please briefly introduce your paper that received the award. Our paper is about a policy plan that can enhance Korean Green New Deal based on a Korean Environment Impact Bond(EIB). This policy plan suggests ordinary citizens as direct investors for environmental projects and aims to open a financing source. Social Impact Bond(SIB) is a type of social financing that aims to solve social or environmental issues while also generating profit. It is a contract that receives capital from private investors and evaluates provided services and returns profits to investors based on how well social aims were met. EIB is a type of SIB and normally focuses on solving environmental issues. SIB started off to solve social problems, but recently it has evolved to incorporate environmental issues as well. It was first introduced in 2016 when Baltimore and Washington D.C aimed to expand its sewage facility related infrastructure to prevent the flooding of wastewater and heavy rain. Atlanta was the first to invite citizens and ordinary investors to EIB. We researched Atlanta’s EIB case and worked to uncover a new approach to Green New Deal with EIB. New Deal projects have longer investment periods, higher risk and public characteristics which leads to mediocre profit rates. Therefore, we thought that it would be difficult for funds to be invested in New Deal projects if we leave it to the market and started to devise methods to enhance New Deal related funding. We suggested K-EIB, which has the following characteristics. △The public sector such as the government and policy financing institutes take charge of initial investment and bare the costs and risk when raising funds for Green New Deal projects. △Various tax benefits should be provided to private funds to ensure their profitability. △EIB should be divided into three layers and the government should invest in each layer’s last ranked stake to bare capital loss and reinforce credit ratings of these investments to attract private funding. In the post-COVID era, we think the New Normal will be ‘Untact(Transition to Digital)’ and ‘Eco-friendly.’ Jeremy Rifkin, the author of 『Global Green New Deal』, predicts that profits to natural resources will be privatized and the cost of destruction will transform civilization from the Era of Progress to the Era of Resilience. We hope that in the face of these trends, K-EIB will be used for Green New Deal projects and be a core pillar for a Korean Green New Deal.   Q. We heard that this was developed from an idea you thought of during your major courses. We met while preparing for ‘2020 Social Value Research Competition.’ We researched various investment strategies based on social value and got to know impact investing and social finance. We conducted a research on SIB, one of many business models that were profitable. We gave a presentation on the SIB model we researched and received feedback from Professor James L. Park in his ‘Corporate Finance’ lecture. We developed this idea based on the feedback we received. We also participated in ‘LG Global Challengers’ competition with the recommendation of professors and worked hard to utilize our model in real policies. The feedback we received from professors during lectures and competitions helped us improve our SIB model. We think applying this model to the Green New Deal project, which the government is currently leading, was key in receiving the award.   Q. How do you feel about winning the award? Jae Yong: It is an honor to contribute to KUBS. The various activities we did on campus was the foundation to receiving the award. Taek Joon: It’s a great honor to glorify KUBS with the achievements that were based on what we learned in our lectures. I want to share this joy with the school and Jae Yong who worked hard every night together!

2021.02.22국제실

KUBS Students Supporting the Economy of Anam, “The Home of KU”

KUBS Students Supporting the Economy of Anam, “The Home of KU” (From the left) Jungyoon Lee, Sunwoo Park, Sooah Jang   The year 2020 was a time that small and local business stores around the campus town area have been experiencing the deepest recession due to the COVID-19. “Ensemble”, a project group launched to support the stagnant Anam economy came up with a positive signal around the campus town community, and the members of Ensemble turned out to be the KUBS students. The three members – Sunwoo Park (KUBS16), Jungyoon Lee (KUBS18), Sooah Jang (Double Major in Business 18) – designed a prepaid-coupon issuance business that allows students to purchase restaurants/café coupons at a discounted price and to provide funds to the stores at the same time.   When asked of how Ensemble got started in March, Mr. Sunwoo Park, the group leader stated, “When we are in Anam, we feel as if we were in our hometown. People around the campus, including store owners, service providers, and other neighbors, have always lived in harmony with KU students. In this difficult times, we couldn’t just stand and watch the people suffering, and we thought that we should do something right away.”   From March to October, Ensemble initiated two online coupon sales projects. In version 1.0, Ensemble paid for large amounts of the merchandise at a discounted price decided in consensus with the vendor, and KU students could purchase them through an online platform.   In version 2.0, “Anam Restaurant Week” which was held for three weeks, provided coupons at a 20 percent discount on average, and students could provide funding through Ensemble’s website on the restaurants they wish to get coupons. As a result, seven restaurants got funding from more than 250 students and faculty members, and the project was closed with a successful sign of harmony along the campus community.   The outcome of two projects has left a package of implications in different aspects. “More than 500 of students have participated to support the small and local stores, and the whole community could build up an emotional sense of solidarity. Also, considering that 2020 was a difficult time for freshmen to get friendly with the campus town, Ensemble’s project was able to open up a new path to advertise the stories of KU community”, stated Mr. Park.   After that, Mr. Park also left a comment on the culture that students gathering for creative projects to solve the social issues. “I think students starting up with project teams and actively challenging to solve neighborhood problems is a very advanced culture. So far, there has been many project teams striving to revive the campus town economy after COVID-19, and I’ll be kind of proud if Ensemble could have contributed in those trends and culture as well.”   Mr. Park told the school that he has been working on another project to be launched in early March this year. KUBS is looking forward to watch another great social impact created by Business School students.

2021.02.10국제실

Korea University Business School successfully holds the 4th Career Week

  Hosted by Korea University Business School (Dean=Dr. Bae, Johngseok) and held by KUBS Career Development Center, the 4th Career Week was held on January 21st (Thu). The Career Week is consisted of two sessions -  Employment and Corporate special lectures which help students explore their careers.   Employment lectures are designed to receive practical help from job consulting experts on job preparation strategies, self-introduction letters, and interview response strategies, while corporate lectures are designed to focus on introducing industries, duties, and recent issues by inviting corporate incumbents working in various fields. All lectures were conducted online due to COVID-19.   In the morning employment lecture session, university business mentor Kim Tae-jong gave a lecture on the theme of "Interview Response Strategies". He began his lecture by saying, "Interviews are an extension of the self-introduction letter, and furthermore, the interests and self-development that you have been accumulating for more than 20 years." In other words, interviews cannot be prepared in a rush. Several practical strategies were then introduced to prepare for interviews, one of which is the "Inside Out Questioning Method," a brainstorming strategy to prepare for interviews. It is a questioning method that starts with questions about yourself and expands to questions about jobs, corporations, and industries.   The employment lecture in the afternoon was held by Kim Jae-eun, director of Standard Chartered Bank, under the title "Understanding the Asset Management Business and My Career." Director Kim Jae-eun explained some basic knowledge, such as the definition and type of the financial industry, and then introduced the financial Big Blur phenomenon, which emerged with the advent of the 4th industrial revolution. This means that the boundary between the financial and ICT industries will be broken.   "There are many different types of financial businesses, and specific career plans are important as the financial industry has expanded due to the Big Blur phenomenon," director Kim advised. In particular, she pointed out that students who set their careers in the financial industry tend to think traditional banks separately from Techpin and Big Tech industries, stressing that "they should think more broadly about how to enter the financial industry and the knowledge needed in the industry."   This concluded the ‘Career Week’ which has been held four times since October 2020, with the active participation of students. In 2021, KUBS Career Development Center will help students design their jobs and careers by holding various seminars and special lectures based on students’ demand.

2021.02.08국제실

‘2020 DTB Data Utilization Competition’ closed with the Final Presentation

  Hosted by Korea University Business School (Dean=Dr. Bae, Johngseok) and held by Center for Digital Transformation & Business(Director=Byung Cho Kim), the ‘2020 DTB(Digital Transformation in Business) Data Utilization Competition’ Final Presentation was held on January 20th (Wed).   This Final Presentation is an event that marks the end of the ‘2020 DTB Data Utilization Competition’, which began in August 2020 with the objective of strengthening students' problem-finding capability which is suitable in the Digital Transformation era.   A total of 6 teams participated in the final presentation after a fierce competition, and they received a lot of attention as more than 100 online audiences joined.   Each team presented their novel and practical research results, followed by a Q&A session with the online audience and judges. The judges provided each team with a direction for development through sharp questions and abundant feedback, and actively encouraged them to complement the research results so that they can lead to actual start-ups.   Among the 6 teams, the ‘Terminator’ Team won the Best Award (△Mentor Professor: Pf. Byungwan Koh △Topic: Early Diagnosis of Parkinson’s Disease Using Data and Application of Wearable Devices, and the ‘T.O.P’ team won the Runner-up Award (△Mentor Professor: Pf. Sang Yong Kim △Topic: Improvement of Start-up Consulting Model through Commercial District-Brand Image Matching: Focusing on coffee shops).

2021.02.08국제실

CDTB Colloquium ‘The Who, What and Why of Future Health Care – How change is made’

  The ‘CDTB Colloquium’ was held online by KUBS(Dean=Bae Johngseok) and hosted by the Center for Digital Transformation & Business(CDTB, Head=Kim Byung Cho) on January 20th (Wed). Guest speaker Yoo Seung Hyun, professor of endocrinology at Korea University Medical Center, gave a lecture titled The Who, What and Why of Future Health Care – How is change made.’   “Changes that would have took several years are happening in just nine months because of COVID-19.” Professor Yoo emphasized that we are living in the age that rapidly changes. He pointed out untact diagnosis as a major change in the medical sector. The rise of remote medical treatment was seen more abroad due to complete lock downs, but Korea also has 1.08 million cases of this up to January as treatment via telephone were temporarily allowed. Professor Yoo pointed out that “We must be cautious about whether remote medical treatment is being implemented by burdening the medical community. Without their agreement and sufficient policies on remote medical treatment, the medical community could take on excessive responsibility.”   Professor Yoo then suggested positive aspects and points to beware when using AI in the medical sector. He introduced a saying that “AI itself will not replace doctors themselves, but rather doctors that utilize AI will replace doctors who do not use AI” and claimed that “Medical AI will not replace doctors artificially but augment the doctor’s abilities.” Medical AI will be especially useful in analyzing complex medical data and giving doctors insight. However, without meticulous planning, AI might deter treatment and training AI may become an additional burden to physicians. Legal responsibility is also an important issue in medical AI.   “Massive volumes of medical data are now viewed as important as assets. For medical data to be used in a valuable manner, business administration based on data analysis plays an important role,” Professor Yoo said. Medical service must be designed with a focus on patients and guarantee a certain quality level. In the past, it was difficult for patients to possess an organized copy of their medical data or give it to businesses that can utilize it. Now, patients can use technology such as ‘My data’ platform and solve these problems. For a successful medical service model that uses data and analyzes it to be implemented, a business approach is needed.   Professor Yoo explained that future health care is far more complex than having the doctor and patients as two parties. Not only the government, insurance companies, and pharmaceutical companies, but medical device providers and investors will also be included in the vast stakeholder group. Therefore, it is important for medical related businesses to review what value their services will provide. Professor Yoo concluded the lecture by saying, “Future health care has already arrived. Let us all work together for future health care that puts humans first.”   Meanwhile, KUBS founded the Center for Digital Transformation & Business (CDTB) in 2019 as a platform to lead the digital transformation era and promote connection between industry, university, and institute. CDTB is planning and carrying out various special lectures on digital transformation.

2021.02.08국제실

Undergraduate Student of Korea University Business School passed the 36th Legislative Entrance Exami

Undergraduate Student of Korea University Business School passed the 36th Legislative Entrance Examination as the Top Applicant Jung Ji-hyun (Business ‘15) Jung Ji-hyun (Business ‘15), an undergraduate student who is a senior at Korea University Business School (hereinbelow KUBS), finally passed the 36th Legislative Qualification Examination in 2020 as the top applicant for administrative officer. The Legislative Qualification Examination is a competitive recruitment test for Grade 5 civil servants in the legislature conducted by the National Assembly Secretariat, with an average of only 15 people selected annually, including △ General Administration △ Legislation △ Finance and Economy. Three students from Korea University, including Jung Ji-hyun, were listed on the list of 17 final successful candidates for the 36th legislative exam in 2020. In particular, they all heightened the status of Korea University by winning the titles "Top Applicant of Secretary of General Administration," "Top Applicant of Finance and Economy," and "The Youngest Successful Candidate of General Administration." Among them, Jung, who took the top position in the General Administration exam with a record competition ratio of 316.3 to 1, stood out even more. KUBS met with Jung Ji-hyun, who was honored to be accepted as the top applicant and listened to her story. Q. Congratulations on your acceptance! I wonder what motivated me to prepare for the Legislative Qualification Exam When I first entered Korea University and thought about my career, I vaguely thought that I should try for public offiicial. Meanwhile, as I took the ‘Labor Management&Relations’ for major, I learned a lot of cases in which conflicts between different interest groups are resolved through laws and policies. Through this class, I thought about the importance of legislation and the role of the National Assembly in charge of legislation and revision. As a result, I became interested in the job of a public official in the National Assembly and naturally prepared for the Legislative Qualification examination. Q. What do you think was the key to passing the exam as the top applicant? I didn't expect to pass as the top student, but I think I was lucky. There are many students who are better than me, but I think the reason why I was able to take the top position is because of the even score distribution among subjects, While preparing for the exam, I thought that I would be able to pass the exam only if I could make the ability to write the answer without panic no matter what questions came out in the exam. That is why I tried to study to make up for my shortcomings in each subject. For ‘Economics’, I studied lots of exam questions in order to fix my habit of making many calculation mistakes, and in the case of ‘Administrative Law’, I learned a lot from the latest judicial precedents so that I do not miss out on what the precedents emphasize. For ‘Public Administration’ and ‘Political Science’, I looked at the textbooks again and tried not to miss the basics, and for ‘Information System Theory’, I read the information white paper carefully and tried not to miss the latest trends. I think that studying evenly without focusing only on certain subjects led to an even score in the second round of the exam, allowing me to pass the top position. Q. I wonder what was the most difficult part while preparing for the exam in uncertain situations, such as several delays due to COVID-19 in 2020, and how did you overcome that hardship? Personally, it was the most difficult thing to prepare for both the first and second round subjects as the schedule for the Legislative Qualification Exam changed due to COVID-19. I had prepared the Grade 5 public recruitment (administrative exam) and the Legislative Qualification Exam together, but I failed both exams on the first round before 2020. Therefore, there was always a lot of anxiety about the first round, but in the case of the 2020 exam, the first round schedule was postponed to June, so I had to study the first and second round at the same time. Even if I passed the first round exam, without enough study for the second exam, I would have to study for the first and second rounds together. I tried to overcome this difficult situation through regular life and the help of study mates. I had the burden of the test and fear of failing, but the time was tight for studying, and the amount of study I had to do per day was fixed, so I overcame this by studying with my study mates. I participated in the group study to manage my study schedule and solved the same problem with my friends so that I wouldn't be lazy. Studying steadily and regularly with friends whenever I was tired of studying alone was also the key to passing this exam. Q. Any advice for juniors preparing for various exams? I think all the juniors preparing for the Legislative Qualification Examination and other kinds of examinations are having a hard time. The examination process is also important, but the result of "passing" is the most important, so the study process seems to be more difficult. There are times when I doubt whether I'm doing well, and sometimes it's very depressing to think that I’m worse than others, but I think studying steadily without being shaken by the circumstances is the only shortcut to passing. I hope you remember that out of many test-takers, those who have studied steadily and hard will eventually pass. As it is an exam that you can't pass if you don't work hard, I hope you have faith in yourself and continue to study without forgetting your aspirations when you first started studying. If you keep working hard, you will definitely pass the exam. I hope all of your dreams of true! Q. Could you give us a brief introduction and aspirations of your future work? Those who have passed the Legislative Qualification Examination are assigned to the National Assembly Standing Committee, the National Assembly Budget Office, or the National Assembly Legislation Office to prepare review reports on bills and budget bills, assist the plenary session and general administrative affairs, and collect and provide basic data for legislation. I don't know what kind of work I'll be in charge of in the future because I'm still waiting to be appointed due to my remaining studies, but I'll continue to make efforts to become a National Assembly official with both neutrality and expertise. Although I still lack a lot, I will always try to fill in the gaps with the attitude of learning and become a public official who serves the public interest.  

2021.02.01국제실

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