[Interview with Professor Woochan Kim, Recipient of the Hongjo Order of Service Merit] Leading Corporate Governance Reform with Unwavering Conviction     On April 1, Professor Woochan Kim received the Hongjo Order of Service Merit at the 25th Fair Trade Day ceremony, hosted by the Korea Fair Trade Commission, in recognition of his contributions to establishing a fair and competitive market order. Having long been at the forefront of corporate governance reform, Professor Kim has consistently raised critical questions about Korea’s corporate governance system. More recently, he has expanded his work into the policymaking arena by serving on a number of national advisory bodies and committees. In this interview, Professor Kim reflects on the path he has taken, shares his views on corporate governance reform and economic growth, and offers advice to students. Below is an edited transcript of the interview.   Q1. Congratulations on receiving the Hongjo Order of Service Merit. Could you share your thoughts on receiving the honor? First, I would like to express my gratitude to everyone who has supported me. The achievements for which I received this honor were the result of a collective effort by my colleagues and me. I could never have received this honor without the support of the full-time research fellows at the Solidarity for Economic Reform and the Economic Reform Research Institute. I would like to extend my sincere thanks to all of them.   Q2. You were recognized for your efforts to curb self-dealing and improve related regulations through your work as Director of the Economic Reform Research Institute and in other roles. What does this honor mean to you personally? The path of corporate governance and chaebol reform that I have pursued has never been an easy one. Because the issues we address are deeply connected to structural interests within our society, bringing about change requires considerable time and patience. At times, I found myself wondering, “Why am I doing this?” or “Could I be doing something wrong?” Receiving this honor validated the path I have taken and reassured me that I have been moving in the right direction.     Q3. Was there a defining moment that first sparked your interest in corporate governance and led you to make it your lifelong work? I gradually found myself drawn to the field. I first learned about corporate governance while studying abroad. During my doctoral studies, I attended a guest lecture by Professor Andrei Shleifer of Harvard University’s Department of Economics. Hearing him explain corporate ownership structures was what first drew my attention to the field.Then the Asian financial crisis occurred. At the root of the crisis was the chaebol problem. Korean banks borrowed funds in foreign currencies, converted them into Korean won, and lent the money to chaebol groups. The chaebol groups failed to use those funds effectively and were unable to repay their debts, which contributed to the financial crisis. That was when I realized that the chaebol issue was a problem of national importance. After becoming a professor, I joined the People’s Solidarity for Participatory Democracy and participated in the minority shareholder movement with Professor Hasung Jang. I found it rewarding to take direct action, such as attending shareholders’ meetings and filing shareholder derivative suits. I later joined the Solidarity for Economic Reform when it was established and have remained involved ever since.   Q4. On March 31, you stepped down as the founding Director of the Economic Reform Research Institute, which you had led since its establishment. What led you to step down after such a long tenure? We would also like to know the most valuable takeaway from your time as Director. Our work began with the Economic Democratization Committee of the People’s Solidarity for Participatory Democracy. In 2006, several of us who had worked together left the organization and founded the Solidarity for Economic Reform. Soon afterward, we concluded that its activities needed to be supported by empirical policy research, and we launched the Economic Reform Research Institute in 2009. I served as its founding Director for 17 years. I had been considering stepping down for several years, and as my external responsibilities suddenly increased this year, I decided that it was time to leave the position. One of the most important lessons I learned while leading the institute was that capable members are more important than anything else if an organization is to function effectively. The members of our organization are exceptionally capable experts who work largely behind the scenes. No matter what I ask them—even about subjects I know little about—they can provide an answer within minutes. I also learned how important it is for capable individuals to share common values. Everyone at the institute shares the same mission and sense of purpose: improving corporate governance. Because of this shared commitment, we have been able to resolve differences of opinion without much difficulty. I believe I was able to achieve many meaningful results over the past 17 years because I had the opportunity to work with such talented and committed people.   Q5. In March, you were appointed as a member of the Growth Economy Subcouncil of the National Economic Advisory Council. How do you believe corporate governance is connected to the country’s medium- and long-term economic growth strategy? The central challenge in achieving sustainable economic growth is determining how efficiently we can use the capital and labor available to us. Corporate governance reform is therefore essential to improving the efficiency of capital.Shareholders provide capital to a company with the expectation that its managers will use it efficiently. In many cases, however, managers invest in non-core businesses or hold real estate unrelated to the company’s operations. In many cases, returning such funds to shareholders through dividends would represent a more efficient allocation of capital. If shareholders then invest those dividends in more productive companies, the efficiency of capital allocation across the economy as a whole will improve.     Q6. You were also appointed vice chair of the Financial Consumer Protection Advisory Committee at the Financial Supervisory Service. In your role as a champion for financial consumers, is there a particularly urgent issue that you would like to address? It would be difficult to single out just one urgent issue. Financial consumer protection can be broadly divided into four areas. First, there is the problem of mis-selling in the design and sale of financial products. Second, there is financial crime. As technology continues to advance, the number of victims of phishing scams has been increasing. Third, the threat of cyberattacks is also growing. Finally, there is the need to promote inclusive finance and shared growth initiatives. Financial support and protection for vulnerable groups are equally important. All of these issues are important, so it is difficult to say that any one of them is more urgent than the others. The Financial Consumer Protection Advisory Committee is the highest-level advisory committee within the Financial Supervisory Service, demonstrating how seriously the agency regards financial consumer protection.   Q7. You also lead research at Korea University as Director of the Asian Institute of Corporate Governance. What unique contribution can a university research institute make to society that national advisory bodies or civic organizations cannot? The Asian Institute of Corporate Governance is Korea’s first and virtually only university-affiliated research institute dedicated to corporate governance. Taking advantage of its position within a university, the institute contributes through academic research rather than policy research. In addition to traditional corporate governance issues, we have broadened the scope of our work by supporting research projects related to environmental, social, and governance issues. We also feature internationally renowned professors at our annual online symposium.   Q8. Last November, the second National Corporate Governance Competition for Students was held by the Korea Corporate Governance Forum and the Asian Institute of Corporate Governance. Was there a particular reason or concern that led you to organize the competition? Were there any student proposals from the competition that particularly stood out to you? The first competition was open only to students at Seoul National University School of Law. However, the number of participants fell short of our expectations. For the second competition, we therefore opened it to undergraduate students in order to encourage broader participation. The fundamental purpose of the competition is to encourage university students to take a greater interest in corporate governance issues and understand their importance. Many students participated in the second competition, so I believe we accomplished that objective. All of the participants presented outstanding ideas, but the Gold Prize-winning team was the most memorable. What distinguished the team was that it proposed an idea that controlling shareholders could also accept. Most of the other teams made proposals that were unlikely to be accepted in practice, but the Gold Prize-winning team presented an approach that could also provide economic benefits to controlling shareholders. I found that particularly impressive.   Q9. What issues do you hope Korea University Business School students who aspire to enter the field of corporate governance research will consider during their university years? After graduation, many business school students enter fields that provide professional services to companies. In many cases, however, their work ultimately serves the interests of controlling shareholders or individual executives. I hope students recognize that there is also a third path. They can choose to stand with shareholders and pursue work that contributes to corporate governance reform. This field remains very small at present, but it may grow considerably in the future. I hope students will also consider careers in this direction.   Q10. While concluding some of your previous responsibilities, you have also taken on many new positions. Do you see this period as a turning point in your life? Finally, what is your next goal or challenge? I do not think of it as a particularly significant turning point. I have continued to do the same kind of work, and I intend to keep doing it in the future. As for my next challenge, I am considering a new form of publication that is neither a conventional printed book nor a standard e-book. I am thinking about creating a book using Notion, which would allow me to incorporate multimedia content, include a variety of links, and continually revise and update the material. Corporate governance reform involves a complex web of interests and can therefore become a lonely struggle. Nevertheless, Professor Kim has continued this work steadily, regarding it both as a mission and as something he genuinely enjoys.The path he has followed with unwavering conviction is far from over. He continues to move forward, taking on the challenges that remain unresolved.   KUBS Student Press | Reporting by Jinyoung Kim

"Turning Financial Data into Research" Special Lecture on Exploring Bloomberg Data for Academic Research     The Bloomberg Terminal contains one of the world's most comprehensive collections of financial market data. However, transforming that information into meaningful research variables requires multiple steps, from exploring available data and verifying variable definitions to extracting data and constructing research datasets. To help students navigate this process, Korea University Business School (KUBS) held a special lecture titled "Financial Data Exploration and Research Applications Using Bloomberg" on Friday, May 15, at the LG-POSCO Building. The session was led by Dr. Ha-yeon Park of the Korea University Business Administration Education and Research Group for BK21 FOUR and was attended by KUBS graduate students. The Bloomberg Terminal is a widely used financial data platform that provides access to real-time market information, company data, and financial analytics. During the lecture, students learned how to search for and extract financial data using both the Bloomberg Terminal and its Excel Add-in, while also exploring how Bloomberg data can be effectively applied to academic research. Dr. Park introduced the basic structure of the Bloomberg Terminal and demonstrated practical methods for exploring financial data. She guided students through the process of identifying research variables and verifying their definitions, emphasizing that carefully confirming variable names, definitions, and available options before downloading data is essential for ensuring research accuracy. She then explained how to extract data using the Excel Add-in and organize Bloomberg data into structured datasets suitable for empirical research. In the latter part of the lecture, Dr. Park demonstrated how Bloomberg data can support academic research by drawing on several case studies, including examples from her own work. She explained how ETF-related data can be identified, extracted, and organized according to different research objectives. She also advised students not to rely exclusively on Bloomberg, noting, "Rather than using Bloomberg as a single data source, I recommend using it for the types of data in which it has particular strengths." She emphasized the importance of cross-checking Bloomberg data with other databases whenever appropriate. The lecture provided students with a practical overview of how financial data can be translated into research—from developing research questions and selecting appropriate variables to constructing reliable datasets. By following the entire workflow, participants gained a clearer understanding of how Bloomberg data can be explored, evaluated, and incorporated into academic research. The lecture also reflects Korea University Business School's recent expansion of its Bloomberg Terminal infrastructure. As part of a financial data hub established through a KRW 1 billion donation from Eugene Investment & Securities, KUBS increased the number of Bloomberg Terminals from one to twelve—the largest Bloomberg Terminal installation among universities in Korea. Nine terminals have been installed in the Sudang CLC Lounge, while the remaining three are available through remote-access accounts.     The Bloomberg Terminal is one of the most widely used financial data platforms in investment banking, asset management, equity research, and other finance-related fields. Hands-on experience with the platform provides students with valuable practical skills that can help them transition into careers in the financial industry. Students who complete the Bloomberg Market Concepts (BMC) certification may also find it beneficial when preparing for the CFA examination or applying for internships in finance. With the expanded infrastructure significantly improving access throughout the semester, more students now have the opportunity to work directly with real-time market data in their coursework, research projects, and academic studies. KUBS Student Press Reporting by Chaewoo Lee Photography by Jinyoung Park

“Insight Over Technology”  Pallet CEO Jongkeun Lee Discusses Survival Strategies in the Era of AI Marketing   Korea University Startup Institute operates the Entrepreneurship Academy Lecture on Demand to help students develop practical competencies that can be applied in the startup field. The program invites industry professionals to deliver a lecture series centered on the year’s most important business and technology issues. This year, the series is being offered as a continuing program centered on AI.   As the third session of the series, a special lecture on AI-based marketing was held on Tuesday, May 12, in Rooms B307 and B308 of Hyundai Motor Hall. The lecture featured Jongkeun Lee, CEO of Pallet, a global AI advertising agency that won the HankookIlbo Digital Innovation Award in the generative AI advertising video production category. Lee delivered a lecture focused on practical insights from the field under the theme “Marketing Strategies in the Era of AI Marketing.” A graduate of Korea University’s Department of Chemical and Biological Engineering, Lee previously led global B2B marketing and new business development at global companies. He is also an entrepreneur and hands-on expert who co-founded Wishary, an India-based O2O and content platform, and led it through a successful M&A deal. Now leading Pallet, an AI advertising company, Lee drew on his unique career spanning global corporations and startups to present the core competencies marketers need in the AI era.   In his lecture, Lee defined communication as the foundation of marketing and emphasized that the essence of marketing lies in the ability to extract the core message to be delivered to customers. This point was vividly demonstrated through advertising cases for brands such as the National Credit Union Federation of Korea, Spyder, and Kyungdong Navien, all produced by Pallet using only AI, drawing admiration from students. In particular, Lee stressed that the key is not simply to produce content faster and at lower cost through AI, but to create differentiated messages and value.   Another key focus of the lecture was the collapse of traditional job boundaries caused by the adoption of AI, and the conditions for survival within that shift. Lee noted that the boundaries among copywriters, art directors, and producers are breaking down, giving rise to an era in which individuals can use AI to become all-rounders capable of overseeing entire campaigns. “Even without hands-on technical skills, anyone with an eye for insight can create outstanding work,” he said. He emphasized that marketers must now become “communicators” with insight, rather than mere technicians. He also predicted that the ability to give clear instructions to AI and refine its output with precision will become a core competency in the future. Toward the end of the lecture, Lee introduced the slogan “AI empowers Human Intelligence,” encouraging students to continuously experiment with AI, as it is not a threat that replaces humans but the most powerful tool for expanding human intelligence. Taeyoon Kim, a Business Administration student from the Class of 2021 who attended the lecture, expressed strong satisfaction with the session. “Even though new AI technologies continue to emerge, it has been difficult for students to understand how they are actually being used in the field,” he said. “Through this lecture, I was able to see how AI is being used in real marketing practice and think about how I could apply it myself.”   The third session of the Entrepreneurship Academy Lecture on Demand provided an opportunity to examine how AI is being used in actual marketing practice and to explore marketing strategies for the AI era. Korea University Startup Institute plans to continue expanding practice-oriented entrepreneurship education programs that utilize AI.   KUBS Student Press Reporting by Yeontae Kim Photography by Woojin Shin

Korea University Business School to Host ‘CEMS Annual Events 2026 in Korea’ — First Ever in Asia    Korea University Business School will host ‘CEMS Annual Events 2026’, the largest annual gathering of the global alliance in management education, CEMS, in Seoul, South Korea. This event is particularly significant as it marks the first time the Annual Events will be held in Asia in CEMS history.    The event will take place over four days, from November 25 to 28, bringing together representatives and alumni from CEMS member schools worldwide. As a flagship event hosted on a rotating basis by member schools each year, the Annual Events serve as a key platform for discussing the future of global business education, strengthening collaboration, and strengthening the CEMS community.    During the event period, from November 25 to 27, various committee meetings and operational discussions involving representatives from member schools will be held at Korea University Business School, along with official networking dinners. On November 27, a pre-graduation party for graduating students will take place, followed by the CEMS MIM (Master’s in International Management) graduation ceremony on November 28.     Beyond logistical preparations, Korea University Business School has gone further by developing symbolic content that reflects both Korean values and the philosophy of CEMS. One of the key outcomes of this effort is the official logo for the Annual Events. The logo is designed to capture both the nature of the event and the identity of its host location by incorporating elements that blend traditional and modern aspects of Korea.      The central motif of the logo, the Eosahwa—a traditional flower awarded to those who passed the state examination during the Joseon Dynasty—symbolically represents graduation and celebrates the achievements of outstanding graduates. The roofline of a traditional Korean palace symbolizes graduates stepping into society and taking on meaningful roles. The Taegeuk symbol, inspired by the Korean national flag, represents harmony and balance—core virtues expected of future leaders—while further reinforcing Korean identity throughout the design.     At the base of the logo, traditional cultural heritage elements such as Bangasayusang, Seokgatap, and Bosingak are integrated with modern Seoul landmarks including Namsan Tower, the 63 Building, and the Han River. This juxtaposition illustrates the coexistence of tradition and modernity in Korea. At the center, Korea University is depicted as a bridge connecting the past and the present, highlighting the pivotal role of education in driving societal change and progress. The background incorporates text from the preface to the Hunminjeongeum, reflecting the original purpose of Hangul—to enable accessible learning and communication for all—while also emphasizing the importance of social responsibility and action among graduates.    Korea University Business School has also created an official promotional video for the Annual Events. The video features a butterfly symbolizing the 33 member schools, traveling across various locations in Korea over the course of a day, tracing the daily lives of graduates while simultaneously depicting Korea’s transformation from past to present. The video begins with scenes of traditional temples, serene natural landscapes, and tea culture, before moving along fortress walls to the Korea University campus, illustrating how tradition and modernity are connected through education. The narrative then continues through spaces that showcase Korean cultural identity—such as traditional markets, hanbok experiences, and Gyeongbokgung Palace—before expanding into modern cityscapes, including Namsan Tower, urban environments, and contemporary lifestyle hubs such as Seongsu and Gangnam.     As the video progresses, the number of graduates on screen gradually increases, illustrating growing interaction and connection. This reflects the formation of a unified global network of CEMS members in Korea. This sense of collective engagement is further brought to life through Korea University’s cheering culture and K-pop performances. In the final scene, butterflies representing the 33 member schools rise into the sky and spread out like stars, symbolizing a shared moment of celebration and the bright future that lies ahead. The video was created using a combination of AI-generated imagery and live-action footage, offering an experimental and innovative approach to portraying Korea’s diverse landscapes and the CEMS message.    ▶ CEMS Annual Events 2026 Korea [Watch Official Video] ◀    Dean Eonsoo Kim of Korea University Business School stated, “It is a great honor to host the 2026 CEMS Annual Events in Korea. It is especially meaningful that Korea University Business School will be the first institution in Asia to host this event.” He added, “Today, Korea is actively engaging with the world through K-pop, cultural arts, and innovative industries. We hope this event will provide an opportunity to showcase Korea’s culture and education, as well as the creative and artistic appeal of our campus.”    Meanwhile, approximately 1,000 alumni and representatives attended the 2025 CEMS Annual Events held in Brazil, and the 2026 event in Korea is also expected to attract a large global audience. Hosting the event in Korea is expected to reaffirm Korea University Business School’s central role within the global network, while also serving as a turning point for expanding CEMS geographically and culturally as its first host institution in Asia. More details can be found on the official CEMS Annual Events website (https://annualevents.cems.org/).  

  Professors Hyun Seok Lee and In Joon Noh of Korea University Business School received the SK Award for their research that empirically examines how organizations learn from crises and develop recovery capabilities, based on an analysis of drug shortages in the United States.      Acceptance Remarks by Professor Hyun Seok Lee    I am deeply honored and grateful to receive this SK Award. This study empirically examines how organizations learn and build recovery capabilities following crises, based on the significant social issue of drug shortages in the United States. It is especially meaningful that our second paper on drug shortages has also been accepted for publication in Management Science, following our first paper. It is also very meaningful to have co-authored this work with my colleague, Professor In Joon Noh, who works in the same field.   I hope that collaboration among the outstanding faculty at Korea University Business School will continue to grow, supported by ongoing encouragement and institutional support. I will also continue striving to pursue research that combines academic rigor with meaningful social impact.    Acceptance Speech by Professor In Joon Noh    I am very pleased and honored that the paper we have worked on for a long time, together with my colleague Professor Hyun Seok Lee, has been accepted for publication in our target journal.    I hope our research can contribute, even in a small way, to understanding and addressing the issue of drug supply shortages. I also look forward to continuing to pursue meaningful research through collaboration with outstanding scholars both in Korea and abroad.    Research Overview    Title of Paper : Learning in Recovery from Disruption: Empirical Evidence from the U.S. Drug Shortages  Journal : Management Science  Publication Status : Accepted for publication; volume, issue, and official publication date to be determined  Summary of Key Findings :    This study examines whether pharmaceutical manufacturing plants learn from repeated drug shortages in the United States and recover more quickly as a result.   Drug shortages directly affect patient treatment, making them not only production disruptions but also a significant social issue. By analyzing approximately 5,000 cases from 2015 to 2020, the study finds that plants with more experience in resolving past shortages tend to return to normal operations more quickly when new disruptions occur. However, this learning effect is more evident in cases caused by internal factors, such as production disruptions or quality issues, and is less effective in addressing external factors such as raw material supply problems or sudden spikes in demand.   Furthermore, the experience accumulated at one plant does not easily transfer across plants within the same company. Ultimately, the study highlights that rather than simply experiencing crises repeatedly, it is more important to systematically organize and share the solutions developed on-site. It also suggests that for external causes, there are limits to what companies can achieve on their own, and that policy support is also necessary.

Professor Sang Yong Kim Publishes Management Essay “Management Beyond the Classroom”     Professor Sang Yong Kim of Korea University Business School published his essay Management Beyond the Classroom in March 2026, which applies core concepts of management to individual life and career design.   The book extends key concepts traditionally used in corporate management—such as positioning, competitiveness, leadership, and resource allocation—into strategies for personal life. It reinterprets management not as a discipline solely for corporations, but as a tool for self-management, emphasizing that individuals must strategically design their own lives in a rapidly changing world.      Professor Woochan Kim Appointed as Advisor to the Growth Division of the National Economic Advisory Council    Professor Woochan Kim was appointed as an advisor to the Growth Division of the National Economic Advisory Council on March 1, 2026. The council is a presidential advisory body established under the Constitution and is responsible for advising on major policy directions for the national economy.    In particular, the Growth Division advises on mid- to long-term economic policies, including enhancing industrial competitiveness and promoting innovation-driven growth. This appointment reflects Professor Kim’s expertise in corporate governance and capital markets.      Professor Hyun Seung Na Inaugurated as the 43rd President of the Korean Securities Association    Professor Hyun Seung Na was inaugurated as the 43rd president of the Korean Securities Association. He assumed the role at the 50th General Meeting held in February, with a term running from March 1, 2026, to February 28, 2027.    Professor Na currently serves as a faculty member in finance at Korea University Business School, while also holding the positions of Associate Dean for Academic Affairs and Chair of the Department of Business Administration. The Korean Securities Association, founded in 1976 and celebrating its 50th anniversary this year, is a leading academic organization in finance in Korea, with approximately 1,500 members.      Professor Kwanho Suk Publishes Research Methods in Behavioral Science   Professor Kwanho Suk has published Research Methods in Behavioral Science, a book that systematically presents research methodologies used in behavioral science. The book focuses on empirical research methods using quantitative data collected through experiments and surveys, while also explaining various research designs and hypothesis testing approaches.    It covers the entire research process—from developing research ideas to publishing results in academic journals—and serves as a practical guide to help readers make methodological decisions aligned with their research objectives and contexts.      Professor Jay Hyuk Rhee Publishes Research on Industrial Water Sustainability in Nature Water    Professor Jay Hyuk Rhee of Korea University Business School has published a paper in the international journal Nature Water. The paper, titled “A quantitative metric for industrial water use sustainability for environmental, social and governance reporting,” proposes a quantitative metric for evaluating the sustainability of industrial water use.    This study is significant in that it establishes a framework for systematically incorporating the environmental and social impacts of water usage into ESG reporting systems. It is particularly noteworthy for providing a practical analytical framework applicable to corporate sustainability assessments and policy development.       Professor Jay Hyuk Rhee Publishes Sustainability and ESG Management    Professor Jay Hyuk Rhee has published Sustainability and ESG Management in February 2026. The book systematically presents corporate sustainability strategies centered on Environmental, Social, and Governance (ESG) principles. It goes beyond theoretical concepts by presenting practical approaches to ESG management through real-world corporate cases.   The book is expected to serve as a valuable guide for both students and practitioners preparing for the ESG era.