Department of Business Administration, Graduate School, Korea University Recruiting New Students for Fall 2026… Applications Open Until April 9   A new opportunity is opening for those seeking to advance both their research direction and career development. The Department of Business Administration at the Graduate School of Korea University has begun accepting applications for domestic students for the Fall 2026 intake, with the application deadline set for 5:00 PM on Thursday, April 9.   As the business environment continues to evolve rapidly, the criteria for selecting a graduate program are also shifting. Beyond the name of the major, the strength of the research environment and academic network has become an increasingly important factor.    ▲ A group of full-time faculty members at Korea University Business School pose for a commemorative photo.    Korea University Business School boasts one of the largest research infrastructures in the country, supported by 95 full-time faculty members. This is considered a key strength, as it enables applicants to choose academic advisors who closely align with their research interests and topics. The faculty’s diverse expertise, spanning a wide range of subfields and research areas, provides a strong foundation for graduate students to conduct rigorous and advanced research.    As a research-oriented graduate school, Korea University Business School is also strengthening its interdisciplinary research environment to reflect rapidly evolving industries and societal needs. With a focus on the so-called “4Tech” fields—AI, semiconductors, robotics, and energy—the school is expanding the scope of business research beyond traditional boundaries and fostering the exploration of emerging challenges. Through this approach, students are able to analyze business phenomena from a more multidimensional perspective and develop their research questions into independent scholarly work.    Its research infrastructure is another key strength. Graduate students are provided with dedicated research spaces, including offices, seminar rooms, and lockers, along with access to data analysis software such as SAS, SPSS, STATA, and MATLAB. In addition, Korea University Library houses approximately 3.31 million volumes and 86,000 non-book materials, offering a comprehensive foundation for academic research.    In particular, students have access to major databases such as Bloomberg, Compustat, CRSP, WRDS, and LSEG Workspace. Recently, thanks to a donation from Eugene Investment & Securities, the number of Bloomberg terminals has been expanded to 12, further enhancing the research environment in finance and related fields.    Korea University Business School also offers a range of scholarship programs to support students in focusing on their research. These include full tuition coverage through research and teaching assistantships, as well as research scholarships under the BK21 program and merit-based scholarships. Approximately KRW 2.3 billion in scholarships are awarded annually, along with programs that encourage research activities, such as support for participation in international academic conferences.    For the Fall intake, the department will admit students to master’s, doctoral, and integrated master’s–doctoral programs in the following fields: Management, Global Business, Strategy, Finance, Information Systems (IS), and LSOM. The Marketing field will recruit only for doctoral and integrated programs, while Accounting and Business Analytics are excluded from this round of admissions.    The Fall admissions cycle is particularly meaningful as it provides another opportunity for applicants who have reassessed their academic or career paths following the Spring admissions cycle. For those who have further refined their research interests or career goals, this can serve as a strategic opportunity to select a research environment that best fits their needs.    Daeil Nam, Associate Dean for Research at Korea University Business School, stated, “As business studies become increasingly interconnected with industry, the importance of research environments and networks continues to grow,” adding, “We support our students in expanding their research and connecting it to real-world applications.”      ▶ Apply for Fall 2026 Domestic Graduate Admissions at Korea University ◀ 

  Professor Baeho Kim of Korea University Business School received the SK Award for March 2026 for his research that improves the accuracy of risk estimation in high-dimensional portfolios using long-history data.     Acceptance Remarks by Professor Baeho Kim    This paper, for which I served as the corresponding author, was first conceived during my first sabbatical at UC Berkeley in 2016. After returning to Korea, I took on administrative roles as part of the Business School administration and later assumed responsibilities related to the Business Analytics program. While dedicating myself to these duties, financial data analysis techniques relevant to this research topic advanced rapidly, and I faced the challenge of having to fundamentally revise the study’s direction and core methodology.   Nevertheless, thanks to the understanding and support of my co-authors, I did not give up and continued my research efforts. Ultimately, through my second sabbatical in 2023, which allowed me to revisit UC Berkeley, and with the support of Korea University’s flexible semester system, I was able to bring the research to fruition. I would like to express my sincere gratitude to Korea University Business School for providing opportunities for sustained international collaborative research.     Research Overview   Title of Paper : Long-History Principal Component Analysis in a Dynamic Factor Model with Weak Loadings   Journal : Operations Research   Publication Date : March 11, 2026 (online publication; Articles in Advance, forthcoming in print)   Summary of Key Findings :    This study proposes an innovative framework to address the persistent issue of “second-order risk (SOR)” bias in high-dimensional portfolio management. Second-order risk refers to the discrepancy between a portfolio’s predicted risk and its realized performance, which is primarily driven by estimation errors in the covariance and precision matrices of asset returns.   In traditional financial practice, it has been standard practice to use relatively short data histories—typically around one year (approximately 250 days)—to capture rapidly changing market conditions and industry dynamics.   However, this study shows that such conventional approaches can misinterpret random noise as genuine market signals, thereby inducing “excess dispersion bias” in estimated factor loadings. As a result, optimized portfolios may appear safer than they actually are, exposing investors to unforeseen risks and ultimately undermining risk management.   This study formally demonstrates this mechanism through a mathematical theoretical model. Specifically, even in dynamic environments where factor loadings vary over time, or in “weak loadings” settings where effects are concentrated in specific sectors, the study proves that extending the data history for covariance estimation to six years (approximately 1,500 days) and applying a Long-History PCA approach ensures the statistically consistent convergence of covariance and precision matrix estimates. In other words, sufficiently long historical data act as a crucial stabilizer that helps mitigate market instability.   These theoretical findings are strongly supported by both Monte Carlo simulations and empirical analyses using real stock market data from the United States and Europe. In simulations designed to reflect realistic volatility structures and sector-specific risk factors, LH-PCA achieved a substantial reduction in SOR bias compared to conventional PCA methods based on one-year data, the Ledoit-Wolf shrinkage estimator, and GPS correction techniques. Empirical results from the U.S. (CRSP) and European (EURO) markets further confirm that the use of long data histories substantially improves the accuracy of covariance structure estimation and portfolio volatility prediction.   In conclusion, the LH-PCA framework proposed in this study provides a robust and rigorous foundation for constructing more resilient and well-diversified portfolios in modern data-driven risk management.    ▶ Read the full paper: Long-History Principal Component Analysis in a Dynamic Factor Model with Weak Loadings 

[2026-1 New Faculty Interview]    “Understanding the Capital Providers Behind the Market” Professor Ji Yeol Jimmy Oh’s Research and Perspective on Financial Markets   In the first semester of 2026, Professor Ji Yeol Jimmy Oh joined Korea University Business School as a faculty member in Finance. Having experienced financial crises firsthand, he has shaped the direction of his research with a focus on “capital providers” who drive the market, exploring the structure of financial markets and investor behavior.   In today’s rapidly changing capital markets, he continues to confront unanswered questions and seeks to share these insights with his students. We spoke with Professor Oh, who hopes to cultivate students with a deep understanding through both research and teaching.      Q. How does it feel to join Korea University Business School?   Hello everyone at Korea University Business School. I am Ji Yeol Jimmy Oh, a new faculty member in Finance this semester. It is a pleasure to meet you all. I am honored to be working alongside so many distinguished colleagues who are producing outstanding research across various fields. I am also deeply grateful for the support and consideration that allow me to focus on the two most essential pillars of being a professor—research and teaching—as I continue to settle in.     Q. What goals would you like to achieve here in terms of research and teaching?   At many pivotal moments in my life, the shadow of financial crises has loomed large. I experienced the IMF crisis as an elementary school student, and just weeks after beginning my doctoral studies in the fall of 2008, I witnessed the global financial crisis unfold, with major institutions like Lehman Brothers and AIG collapsing almost overnight. These experiences led me to pursue a deeper understanding of financial markets.   I’ve been doing research for over a decade, but there are still many unanswered questions. Moving forward, I would like to further explore the role of capital providers—such as insurance companies, funds, and pension funds—and how the characteristics of these institutional investors influence the market. Ultimately, I hope this research will contribute to helping Korea’s capital markets function more effectively.   At the same time, I hope to share these insights with my students. It would be very rewarding if, after graduation, my students are recognized as individuals who have a deep understanding of financial markets and who think critically about what is happening within them.   Q. Your research focuses on institutional investors, funds, bond markets, and investor behavior within financial market structures. What recent trends or developments in financial markets have you found particularly interesting?   Over the past 20 years, one of the most significant changes in the U.S. capital markets has been the transformation of the retirement pension system alongside the explosive growth of mutual funds and ETFs. As of 2025, this market exceeds KRW 7 quadrillion at current exchange rates. The quantitative and qualitative expansion of capital supply has been evident across the entire corporate lifecycle, acting as a catalyst for innovation—from early-stage startups brainstorming ideas in garages to large-scale companies like NVIDIA and Tesla.    Korea has also recently seen various efforts to drive similar changes in its capital markets. The KOSPI has more than doubled compared to early last year, and as a result, it often feels like nearly half the people on the subway during the morning commute have their brokerage apps open. However, for this kind of rally to translate into sustainable, high-quality growth rather than a temporary surge, many challenges still remain. Addressing these challenges will require collective reflection and effort from all of us.    Q. What is your teaching style, and what do you hope students will gain from your courses?    Before I answer, I would like to express my sincere appreciation to the students who have attended my 9 a.m. classes on Tuesdays and Thursdays over the past few weeks. Their enthusiasm and focus so early in the morning make me reflect on whether I was ever that focused as an undergraduate.    My classes emphasize interaction. In an era where AI tools like Gemini and Claude can handle many tasks, the ability to clearly articulate one’s thoughts through direct human communication has become more important than ever. I hope that by actively engaging—asking questions, making brief comments, and participating in discussions—students can develop these skills. My goal is to run my classes as closely as possible to a Western-style, discussion-based format.    Q. Many business students aspire to careers in finance or investment. What skills or study methods would you recommend they develop during their undergraduate years?    As I briefly mentioned earlier, the explosive growth of generative AI may be raising many concerns, and I can certainly relate to that, as I actively use AI in my research, teaching, and other activities. Of course, traditional core certifications, such as the CFA, should still be an important part of your preparation. However, beyond these, you need to be able to clearly articulate the depth of your thinking in interviews. You need to bring something that AI cannot yet replace. Communication skills are part of this, and it is especially important to stay up to date on financial issues through reliable sources.    In that regard, consistently reading reputable English-language financial newspapers can be very helpful. I often get research ideas from articles in the Financial Times and The Wall Street Journal. You might ask yourself this question: if you were to have a coffee chat with someone working in finance, could you sustain a conversation about current market issues for more than 20 minutes? If your answer is “yes,” then you can feel confident going into interviews.     Q. Lastly, a personal question—what are your hobbies or recent interests outside of research and teaching?    About two years ago, a personal turning point led me to become more focused on my health. I try to stay active with various forms of aerobic exercise—running, cycling along the Han River when the weather is nice, and hiking whenever I have time. I’ve climbed close to 40 of the peaks in the Black Yak “100 Famous Mountains” challenge.    In fact, until high school, I had been preparing to pursue a degree in music, specializing in clarinet performance. Even now, when pieces I practiced for entrance exams unexpectedly come up on my classical playlist during my commute, I instinctively skip to the next track—maybe a bit of lingering stress from those days. With the demands of raising children, I haven’t had the chance to practice for quite some time, but if the opportunity arises, I would love to start playing again. 

At the 119th Commencement Ceremony of Korea University Business School, the President’s Award was presented to Jisoo Jeong (Korea MBA) and Juhyun Park (Undergraduate), while the Dean’s Award was awarded to Soontaek Jeon (Korea MBA), Kyungcheon Choi (Executive MBA), and Subin Chae (Finance MBA). We present the stories of these outstanding individuals who achieved the highest distinction in their respective programs.     | Undergraduate President’s Award Recipient  Valedictory Address by Juhyun Park (Business Administration, Class of 2023)    Hello, my name is Juhyun Park from the Business Administration Class of 2023, and I am honored to deliver this valedictory address.  First, on behalf of all graduating students, I would like to express my sincere gratitude to the Dean, professors, parents, seniors and juniors, and distinguished guests who have joined us today to celebrate this occasion.    When I first entered the university, I vividly remember the campus just after a graduation ceremony held by our seniors. Perhaps because that memory closely resembles today, it feels especially meaningful to now stand here as one of the graduates on this beautifully prepared campus. Beginning my university life at the threshold of spring and graduating with the arrival of another spring breeze feels like a poetic symmetry of beginnings and farewells.    From the passionate joint cheering event at Hwajeong Gymnasium, to eating jajangmyeon at the Central Plaza on April Fools’ Day, and to the unforgettable moments of the Daedong Festival and Ipselenti, the crimson spirit of Korea University has gradually and deeply taken root in our hearts.    I would like to share a line from our cheering song, “Ode to Youth”:  “Ah, beautiful love—become romance. Shoulder to shoulder, our united youth shines.”    One of the reasons I truly love Korea University is that we see one another not as competitors to overcome, but as companions who move forward together. Now, I believe it is time to carry this spirit of unity into the wider world.    As time passes, the physical hardships we endured may fade, but the emotions and warmth of those moments remain. Wherever life takes you, I hope you will continue forward while remembering the carefree joy of your undergraduate days.    To be honest, the word “graduation” once felt daunting to me. However, the word “farewell” carries not only a sense of parting, but also a wish for well-being and peace. Just as every moment we spent here has shaped who we are today, I hope our memories of Korea University will remain with us as warm and cherished ones.    Finally, I would like to sincerely thank my professors, seniors and juniors, dear classmates, and my family who have always supported me. And to all my fellow graduates—congratulations. I wish you all the very best.    Thank you.      | Korea MBA President’s Award Recipient  Graduation Reflection by Jisoo Jeong    Hello, I am Jisoo Jeong, and I am deeply honored to receive the President’s Award upon completing the Korea MBA program.    Although I did not begin this journey with the goal of receiving this award, I am truly grateful to be able to conclude these two years in such a meaningful way. Balancing work and study was by no means easy. There were moments of physical exhaustion and times when the demands felt overwhelming. Yet, I made a conscious effort not to lose sight of the passion and aspirations I had when I first applied. Looking back, I believe that the consistency of those efforts has led to this meaningful outcome. Above all, I would like to applaud all my fellow classmates who have persevered and given their best in their respective roles.    When I reflect on my time here, what stands out most is the people. Even amid busy professional lives, we engaged in passionate discussions and shared our thoughts and experiences. These moments will remain with me for a long time. Spending many years in one field can naturally limit one’s perspective, but the peers I met in the Korea MBA broadened and deepened my view of the world. Conversations with individuals from diverse backgrounds and experiences were always opportunities for learning, both inside and outside the classroom. Along the way, I also met many inspiring individuals who made me think, “I hope to become someone like that.” More than any extraordinary moment, it is the simple conversations and shared laughter before and after class that I will cherish most.    The most valuable takeaway from this program was not merely an expansion of knowledge. More than anything, it was the opportunity to better understand myself. During my undergraduate years, I did not fully understand what I enjoyed or what my strengths were. However, through the Korea MBA program, I came to see more clearly what kinds of work interest me and in what situations I feel both joy and a sense of accomplishment. Through team projects and various activities, I was able to better recognize the roles I can play and the strengths I can contribute. At the same time, interactions with peers who hold different perspectives helped me develop a more flexible and broader view of the world.    To those who will follow, I would like to encourage you not to give up too easily on the experiences that can only be found in school. Balancing work and study will inevitably bring challenging moments, but in those times, I hope you will revisit the motivation that first led you to apply. Two years may seem long, but they pass more quickly than you expect. I hope you will allow yourselves to be a little more ambitious—to learn, to connect, and to fully embrace student life. I believe that this time will come to hold far greater meaning than you might anticipate.    The past two years have been a time in which I was able to grow by learning new things and gaining diverse experiences. Now, as I return to my daily life, I hope to carry forward the strengths I discovered here and apply them meaningfully in my professional work, continuing to grow further. Above all, I feel deeply grateful to have built meaningful relationships—connections through which we can share memories, stay in touch, and reconnect at any time, even if we may not meet as often as we do now. Continuing to cherish and sustain these relationships is another goal I hope to carry with me after graduation.      | Korea MBA Dean’s Award Recipient  Graduation Reflection by Soontaek Jeon    I remember the day we first met.  It was a damp winter day—hazy, cold, and filled with a sense of unfamiliarity.  I also remember the last day.  Despite the bitter cold of that winter, it was a warm and clear day, and we exchanged our final greetings and congratulations.    Two years passed more quickly than I expected. Some of us came here in pursuit of a new degree, others to seek business opportunities, and still others simply to learn. Along the way, we met many people and gained countless experiences. For many of us, this was a time to build new relationships—and through them, to discover new opportunities, insights, and growth.    The most meaningful realization I had during these two years was this:  the world is far wider than I had imagined, and there are many more things I can do, learn, and aspire to. I came to understand that I do not need to remain confined within my own familiar environment or be defined solely by my industry or existing relationships.    Many who pursue an MBA have already achieved a certain level of success in their respective fields. Yet even then, it is easy to become enclosed within one’s own world and surroundings, losing sight of how vast the world truly is—and how many possibilities remain unexplored. Through conversations and relationships with peers from diverse fields and backgrounds, I was reminded of just how expansive and full of opportunity the world is. Even if I return to my daily life, this experience has allowed me to continue seeing beyond the boundaries of my original world. For that alone, I feel truly grateful.    To those who will follow, I would like to share one piece of advice:  meet as many people as you can, with an open mind. Listen, and engage in meaningful conversations.  A space where professionals gather without a specific agenda—simply to share thoughts, exchange ideas, and inspire one another—is incredibly rare. You have been given that opportunity. I hope you fully embrace it and make the most of your time here. And above all, I hope you leave with your own meaningful realizations.      | Executive MBA Dean’s Award Recipient  Graduation Reflection by Kyungcheon Choi    Hello, I am Kyungcheon Choi, and I am honored to receive the Dean’s Award upon completing the Executive MBA program at Korea University.    “The entrepreneurial spirit of a startup met the intellectual rigor of Anam—bringing management to its full realization.”    Two years ago, as I walked up the hill of Anam, I made a commitment to reinterpret the management theories I learned in the classroom and apply them directly to the realities of the startup world. The academic insights of my professors, combined with the practical expertise of fellow students across diverse industries, became a critical foundation for building a management system optimized for startups. My efforts to translate daily learning into tangible outcomes ultimately led to graduating at the top of my class with straight A+ grades. I believe this recognition goes beyond a personal achievement—it reflects how the teachings of Korea University’s Executive MBA can be effectively applied in real-world business settings.    One of the most memorable experiences during my time in the program was the global management program at Yale University. Through lectures by world-renowned scholars, I was able to broaden my perspective on global business and envision greater possibilities as a business leader. What made this experience especially meaningful was sharing it with my family. Conversations and moments of connection with my spouse and children allowed my learning to extend beyond knowledge into deeper insight about life. That time remains one of the strongest foundations of my personal growth.    The most valuable asset I gained from this program was the network and relationships that extended beyond the classroom. Serving as Vice President of the student council, I helped create opportunities for meaningful exchange, and through business clubs and CEO gatherings, we shared our experiences and challenges. The collective intelligence formed by leaders from diverse industries was itself a powerful asset that significantly broadened my perspective. In particular, forming a band and performing on stage was a memorable experience that allowed me to truly experience the essence of management—empathy and harmony.    To those who will follow, I encourage you to embrace bold challenges. The Executive MBA at Korea University offers limitless potential, but turning that potential into real outcomes ultimately depends on your willingness to take initiative. Do not remain within the comfort of familiarity—challenge yourself to go beyond your limits. Also, remember that success in business is not achieved alone, but together. Within the strong network of peers and alumni lies the potential for even greater possibilities.    Currently, I continue to take on new challenges as the CFO of a physical AI humanoid startup. Drawing on the strategic thinking and financial insight I developed during this program, I successfully led our first institutional investment. Looking ahead, I aim to grow the company into a globally competitive enterprise and ultimately achieve an IPO. In addition, I plan to write a Startup MBA Guidebook to provide a practical roadmap based on real-world experience and learning. I will continue to demonstrate the power that emerges when the intellectual rigor gained in Anam is combined with hands-on experience.      | Finance MBA Dean’s Award Recipient  Graduation Reflection by Subin Chae   Hello, I am Subin Chae, and I am honored to receive the Dean’s Award upon completing the Finance MBA program at Korea University.    I am truly grateful to receive this meaningful recognition in the rigorous academic environment of the Korea University Finance MBA program. Over the past two years, balancing work and study often pushed me to my limits, yet the process itself made me stronger. More than any exceptional talent, I believe it was the accumulation of consistent effort and dedication in every moment that led to this humbling achievement.    One of the most memorable experiences during my studies was conducting an independent research project and preparing for its final presentation. From selecting a topic and gathering data to analyzing it and deriving meaningful insights, every stage required continuous discussion and a significant investment of time. Although it was not an easy process, the dedication of my teammates and the thoughtful guidance of our professor helped us stay on track. While receiving positive feedback at the final presentation was rewarding, what mattered even more was that the process itself became a valuable experience that deepened my academic understanding.    What supported me most throughout the program was my effort to continuously connect practical work experience with the theories learned in class. I sought to interpret challenges I encountered at work through academic frameworks, and in particular, concepts from corporate governance courses helped me understand commercial law reforms and market responses with much greater depth. This theoretical foundation not only strengthened my professional performance but also enabled me to explain tasks more clearly and effectively when mentoring junior colleagues.    To future students, I encourage you to gain the most valuable asset of all during your MBA journey—the people. An MBA is not merely a place to acquire knowledge, but also an opportunity to broaden your perspective through interactions with individuals you would not typically encounter in your professional life. Looking back, the moments of active engagement with others remain more vivid than the time spent focusing solely on studying. While learning can continue individually, the relationships and networks you build here are rare and irreplaceable opportunities.    The greatest asset I gained from the Finance MBA program was an expanded perspective. Through meeting peers from diverse backgrounds, I developed a deeper understanding of different roles and viewpoints—even within the financial industry. The theories I learned in class also enabled me to approach real-world practice with greater breadth and depth. Moving forward, I aspire to grow into a leader who can offer practical solutions grounded in this broadened perspective. I will continue to move forward steadily, striving to one day return as a proud senior and a reliable mentor to future generations.

[INTERVIEW] Korea University Business School, ranked in Top 3 for two consecutive years in CEMS 'Global Strategy'   Professor Jungbien Moon: “To Build Global Strategic Capability, You Must Step Outside Your ‘Cave’”   What distinguishes education that cultivates management talent capable of thriving on the global stage? The CEMS Global MIM program at Korea University Business School offers a compelling answer.    Korea University Business School is the sole representative member school from Korea in CEMS, a global alliance of business schools in 33 countries, where only one institution per country is admitted. Within this alliance, member schools jointly deliver the standardized CEMS Master in International Management (MIM) program.    ‘Global Strategy,’ a core required course in the program, is offered across all 33 member schools. Among them, the course taught at Korea University Business School by Professor Jungbien Moon has been ranked in the Top 3 for two consecutive years in CEMS course evaluations and has been nominated for the “CEMS Global Strategy Course of the Year.” We spoke with Professor Moon about the strengths of the CEMS MIM program and his course.    ▲ Professor Jungbien Moon (Strategy Major)    Q. Your Global Strategy course has been nominated for the ‘CEMS Global Strategy Course of the Year’ for two consecutive years. How do you feel about this recognition?  A. I consider it a great honor to be ranked in the Top 3 among identical courses offered across all 33 member schools. The CEMS MIM program is highly international, bringing together students from diverse backgrounds. Having lived in Europe, the United States, and China, I believe I was able to understand students’ expectations and reflect them effectively in my teaching. Above all, I was particularly impressed by the students’ strong interest and active participation, which I believe played a key role in achieving this recognition.    The CEMS program also places great importance on industry engagement. In my course, I invited professionals from companies such as LG Group to share real-world strategic cases, creating valuable opportunities for students to connect with practitioners. I believe these experiences contributed significantly to enhancing overall course satisfaction.    More recently, growing global interest in K-culture and Korean companies has further increased student engagement. As my course is offered from September to October, students had the opportunity to experience the Ko-Yon Games. After that, I could clearly see a noticeable shift—their understanding of and attachment to the university deepened significantly.    Q. What did you prioritize most when designing your Global Strategy course?  A. The key message I emphasize is that success in the domestic market does not automatically guarantee success overseas. International business cannot be explained by strategy alone; it involves a complex interplay of factors such as location decisions, entry modes, human resource and organizational management, and international financial management. Cultural differences also play a critical role. Many companies, despite having strong capabilities, face challenges because they do not fully understand these differences. Therefore, I focus on helping students develop a more comprehensive and multidimensional understanding of global strategy by addressing these elements in an integrated way.    Another important priority is ensuring the realism of the course. I continuously update data and structure the course so that students can learn from real-world corporate cases. Since many CEMS MIM students choose East Asia, the final project requires them to analyze recent cases of major East Asian companies such as Hanwha Ocean, BYD, Nippon Steel, and Yanolja. Through this approach, students are able to move beyond theory and gain practical insights that can be directly applied in real global business environments.    Q. The CEMS MIM program is characterized by its international learning environment, with students from diverse countries studying together. How does this diversity influence class discussions and learning methods?  A. One of the most distinctive features of the CEMS MIM program is the diversity of its student body. In a recent class, nine Korea University CEMS MIM students and thirteen students from other CEMS member schools participated, representing a total of 13 nationalities.    With students differing in nationality, ethnicity, religion, and ways of thinking, a single topic naturally gives rise to unexpected perspectives. What is particularly impressive is the level of maturity students bring to these discussions. Rather than holding firmly to their own views, they listen carefully to others, adjust their perspectives when necessary, and gradually work toward a shared understanding. I believe this process itself is an invaluable form of training. It allows students to experience, within the classroom, the collaboration, communication, and consensus-building skills required in a global business environment. As a result, the classroom atmosphere remains both stable and highly constructive, which significantly enhances learning outcomes.    ▲ After the final class, Professor Jungbien Moon and CEMS MIM students gather for a meal at a restaurant near campus.    Q. In today’s uncertain global environment, what strategic capabilities are most important for future business leaders?  A. Above all, individuals must be able to step outside their own “cave.” The world we know is only a small part of a much larger whole, so it is essential to broaden one’s perspective rather than relying solely on familiar experiences. To do so, historical insight and diverse global experiences are critical, along with an open mindset that allows one to respond to changes requiring entirely new forms of decision-making.    In addition, low-probability but high-impact events—often referred to as “black swan” events—are occurring with increasing frequency. Therefore, rather than relying on a single scenario, it is important to remain open to multiple possibilities and prepare accordingly. Ultimately, what future business leaders need is a broad perspective, an open mindset, and the ability to respond flexibly to uncertainty.    Q. Lastly, do you have any message for students interested in the CEMS MIM program or the Global Strategy course?  A. Although advances in technology have significantly reduced physical distance and communication barriers, institutional and cultural differences still remain critical factors in international business. The ability to understand and navigate these differences can become both a competitive advantage and a source of new opportunities.    We are also living in a time of heightened geopolitical risks and a rapidly shifting global order. It is difficult to say whether the current order will remain unchanged even 30 years from now. Therefore, it is extremely important for students to develop a global perspective and actively cultivate the ability to understand diverse environments.    This is especially true for Korean students. Korean companies—particularly in manufacturing sectors such as semiconductors, mobility, batteries, shipbuilding, defense, power infrastructure, nuclear energy, and pharmaceuticals—are highly dependent on global markets. In this context, strategy is, in essence, global strategy. Against this backdrop, the CEMS MIM program offers an excellent opportunity to develop both a global mindset and practical strategic capabilities.    ▶ Introduction to Korea University CEMS MIM (Click) ◀    

Korea University Business School Holds Retirement Ceremony for Professors Jongwon Park and Gil S. Bae Celebrating the next chapter of two professors after decades of dedication to research and teaching   Korea University Business School held a retirement ceremony for Professors Jongwon Park and Gil.S Bae, providing an opportunity to reflect on the distinguished careers of two scholars who have long contributed to the school and the academic community. Colleagues and former students expressed their deep gratitude and warm congratulations to the professors, who devoted decades to teaching, research, and mentoring future generations.     The ceremony began with opening remarks by Associate Dean for Academic Affairs Hyunseung Na. This was followed by presentations highlighting the retiring professors’ careers by Professors Song Oh Yoon and G-Song Yoo, area chairs of marketing and accounting, who reflected on the depth and impact of the professors’ contributions to the Business School. Dean Eonsoo Kim then delivered a commemorative address, followed by the presentation of plaques of appreciation, gold medals, and bouquets in recognition of the professors’ long-standing dedication.   At the heart of the event were the retirement remarks delivered by the two professors. While their tones differed, both reflected on their years with a shared sense of gratitude. Their words conveyed sincere appreciation for colleagues with whom they collaborated and engaged in scholarly discussions, students who supported them over the years, and the academic community they were part of.     Professor Jongwon Park described his years at the university as “a great honor and a stroke of luck,” expressing deep affection for the time spent in research and teaching alongside colleagues and students. He added that although he is stepping down from his formal role, his passion for research will continue—reflecting his unwavering commitment to scholarship.     Professor Gil S. Bae calmly reflected on the past 30 years in a composed tone, speaking about finding meaning in one’s work and the importance of relationships. His remark that he realized it was time to move on when time in the classroom began to feel unusually slow carried a quiet yet profound resonance—one that could only come from someone who has devoted many years to a single place.    Following the retirement remarks, a group photo session was held, and during the subsequent dinner and congratulatory speeches, warm wishes were shared for the professors’ future endeavors. After the formal closing, a farewell gathering continued in the hallway of Ahn Young Il Hall, where attendees saw the professors off with a mix of gratitude and bittersweet farewell.        The years built by a generation that has steadfastly held its place become part of an institution’s history. This retirement ceremony was not only a tribute to the academic journeys and educational dedication of the two professors, but also a moment to celebrate and support their new beginnings. Korea University Business School expressed its deep gratitude to the professors, who have long been part of the institution, and wished them continued fulfillment and peace in the years ahead.    The following are the full texts of the retirement speeches delivered by the two professors.     Retirement Speech by Professor Jongwon Park    First of all, I would like to sincerely thank everyone who has taken the time to be here today, despite it being the academic break.    As I prepared this retirement speech, I gave much thought to what I should say. In the process, I was deeply moved by a remark from a senior professor who once said, “It has been a great honor and a stroke of luck to spend my entire career at Korea University.” I stand here today with the very same sentiment.    I joined the Business School in 1992 at the age of 31 and have served here for 33 and a half years. Looking back, I lived a diligent and fulfilling life—and I was truly happy. I was able to conduct research freely and to my heart’s content, and I had the privilege of receiving the Seok-Top Excellence in Teaching Award while teaching courses I was passionate about. I trained many doctoral students and contributed to the development of the Business School through various administrative roles. Above all, I was able to enjoy a deeply rewarding professional life through meaningful interactions and a strong sense of camaraderie with my colleagues.    However, I believe that none of this was due solely to my own abilities, but rather to the exceptional environment provided by Korea University Business School. Simply having had the opportunity to work here—and to retire here—is, in itself, a great honor and a stroke of luck. I would therefore like to take this opportunity to express my sincere gratitude.    First, I would like to thank the many senior professors who guided, supported, and encouraged me over the years. In particular, I would like to express my deepest gratitude to my late mentor, Professor Dong Ki Kim. I also extend my sincere thanks to former Dean Sang Koo Nam and former Dean Hasung Jang.    I am also grateful to my colleagues in the marketing field, with whom I shared challenges and worked through them together—including Professor Song Oh Yoon, the area chair, and all faculty members in marketing. In addition, I would like to thank the many colleagues across the school with whom I shared both professional collaboration and personal camaraderie—especially Professor Kwangtae Park of PJP, the “Four Rebels,” the “Four Wagol,” and the “BGS Band Seven.” Every moment I spent with you is a cherished memory, and thanks to you, my time here was always filled with joy.    I would also like to express my deepest gratitude to my beloved students, with whom I formed lasting academic bonds and who have devoted themselves to research—especially the members of the B.E.S.T. group. It is because of you that I am able to stand here today.    In particular, I would like to extend special thanks to Professor Jinyong Lee of Chung-Ang University, who is with us here today. Despite being at another institution, he has shared a deep passion for research and has attended my Weekly BEST Seminar almost every Friday for the past 30 years, with remarkable consistency. Together, we discussed research, mentored graduate students, and led the B.E.S.T. group. We also co-authored two SK-level papers.    Finally, I would like to express my love and gratitude to my lifelong partner, my wife Seoyoung, who has always believed in and supported me throughout my journey. Although we lived apart for some time while she pursued her doctoral studies in New Zealand and later served as a faculty member there, she continued to support me wholeheartedly.    What I enjoyed most as a professor was discussing research topics with my students and colleagues. The process of developing ideas, constructing theoretical models and hypotheses, conducting experiments, and working through challenges—often with more discarded experiments than successful ones—was itself a great source of joy. As novelist Han Kang once said about writing fiction, research too often begins with uncertainty and can take unexpected turns. Yet the joy of finally reaching completion after a long journey is indescribable.    Although I am now leaving Korea University, my passion for research remains as strong as ever. If we consider the limit of research capability to be around the age of 70, I still have about five years ahead of me. During this time, I hope to complete the projects currently in my pipeline, as well as new research, and publish at least three or four SK-level papers. I am especially grateful for the opportunity to continue this journey at a university abroad, where I will be working alongside my wife as fellow faculty members—making this next chapter all the more meaningful.    Once again, I would like to express my deepest gratitude to the proud Korea University Business School and my dear colleagues. I sincerely wish for the continued growth and success of the school and all of you.    Thank you.      Retirement Speech by Professor Gil S. Bae    Thank you very much for being here today to celebrate this occasion.    As I reflect on the past 30 years I have spent at Korea University, many thoughts come to mind. It would be nice if life were filled only with good things, but that is not how the world works. Over the years, I too have experienced both good moments and difficult ones—as a professor and, more broadly, as an individual. Many of you shared in my joys during good times and offered comfort and support during more difficult ones. I believe it is because of that support that I have been able to come this far. I sincerely thank those who have already left the university, as well as those who are here today.    Professors do not have bosses. Of course, there is a dean, but the dean does not directly intervene in our work. As such, how well a professor performs is entirely their own responsibility. Since our primary duties are teaching and research, I cannot say that I have no regrets about not having worked harder.    When you spend a long time in a stable environment, you tend not to think about what comes next when it all comes to an end. I was advised to make plans, but how can one plan for something that has not yet arrived? So for the time being, I think I will spend my time working on a few papers I have yet to complete.    I was asked to share some advice for junior faculty, but nothing particularly special comes to mind. If I were to offer one thought, it would be advice I once received from a senior colleague: “Find value in your primary work.” No matter how well one performs outside of their main field, it is difficult to move beyond a secondary level, and it is hard to create meaningful value or contribute to society in that way. And as we all know, we tend to reap what we sow—an obvious principle, yet one we often forget.    At some point, time in the classroom began to feel unusually slow, and I came to realize that it was time to leave. It is only natural that one generation steps aside as another takes its place. My time at Korea University was enjoyable, but it was also not without its challenges. And so, I feel a certain lightness in knowing that the journey allotted to me has come to an end.    I would like to thank everyone who shared both the joys and hardships with me. I sincerely wish that all of you here today will be blessed with continued happiness and good fortune.    Thank you.