KUBS Faculty awarded 2023-2 Seoktap Lecture · Research Award    4 Korea University Business School (Dean=Sangyong Kim) professors won the 2023-2 Seoktap Lecture Award and the winners are △Jae Wook Kim △Hyun Seok Lee △Jin Wook Chang △Chris Changwha Chung (in Korean alphabetical order).     The awarded lectures are △ ‘CHANNEL MANAGEMENT’ by Jae Wook Kim, △ ‘OPERATIONS MANAGEMENT’ (ENG) by Hyun Seok Lee △ ‘BUSINESS NEGOTIATION’ (ENG) by Jin Wook Chang △ ‘INTERNATIOINAL BUSINESS’ by Chris Changwha Chung.       Seoktap Lecture Award has been operating as part of the ‘Lecture Evaluation Incentive System’ since the first semester of 2004 to improve the quality of lectures and improve the educational environment. At the end of each semester, the winners will be selected with the average score of the Course Survey taken by the students who were enrolled in the course. Major classes are awarded to full-time faculty in the top 5% of the number of courses opened by each college, liberal arts courses in the top 5% of the total number of courses opened, and English lectures in the top 5% of the number of courses opened by each category.     In addition, 2 KUBS faculty members won the 2023-2 Seoktap Research Award and the winners are △ Ju Hyun Pyun and △ Martin Hemmert.   Seoktap Research Award has been awarded since 2016 to faculty members who contributed to the improvement of the research ability of this school with excellent research results. The Seoktap Research Award comprehensively judges academic papers, academic books, and research expenses announced for one year, and follows four criteria: faculty within the top 3% of each category, faculty who are main authors of renowned academic research papers, faculty with excellent international research cooperation papers, and faculty with excellent research expenses.   

Education for Better Startups: 2024 Summer Startup Practical Training Program, Startup Essential    Korea University Business School (Dean=Sangyong Kim) has launched the 2024 Summer Startup Practical Training Program, Startup Essential, organized by the Startup Institute (Director=Jungbin Moon). Startup Essential aims to enhance the capabilities of startups in handling various challenges related to finance, human resources, labor, legal issues, and marketing. It targets resident companies within the Startup Institute, such as those in the Iljin Startup Support Center, the Crimson Startup Support Group, and the Anam Campus Town, as well as companies involved in startup-related departments at Korea University. Additionally, team leaders from the 10 newly qualified teams from the 2024 Startup Express Summer Season are required to take this course.      The orientation for the new resident companies which marks the start of the program, was held on July 2nd. This 17th class includes team leaders and members from 10 teams, along with key figures from the Startup Institute, such as Director Jungbin Moon, Iljin Startup Support Center Director Youngkyung Kim, and Seung Myung-ho Education Center Director Jinkyu Park. The teams joining this 17th class are: ▶Daebong ▶Woori ▶Neuruiing ▶Homebrew ▶I-APPLY  ▶ATLO ▶Genti ▶Feedbacker ▶Flick ▶Filter Match.      The event began with brief introductions of the 17th class teams that joined through the 2024Startup Express Summer Season, followed by Director Jungbin Moon’s introduction of the Startup Institute. Jungbin Moon explained, “The Startup Institute was established in 2016 with the support of alumni Myungho Seung who is the chairman of the Dongwha Group, and the late Iljin Group chairman Sangil Lee. It consists of the Iljin Startup Support Center, which acts as an incubator, and the Seung Myung-ho Center for Entrepreneurship Education, which provides educational resources.”    Following this, there was an explanation of the events and education provided by the Startup Institute. Director Jungbin Moon stated, “The programs of the Startup Institute include Entrepreneurship Academy, Startup Express, Startup Essential, and Choo-Choo Day. These programs feature CEO and expert lectures, the discovery of excellent startups, practical startup educationand demo days, all well-structured to support entrepreneurs.”      Next, Youngkyung Kim, Director of the Iljin Startup Support Center, provided guidance on mentoring for resident companies and introduced the new resident education program, Startup Essential. Director Kim explained, “Startup Essential covers everything from the theory to the practical aspects of starting a business. It offers hands-on education for aspiring entrepreneurs, including weekly basic theory lectures and one-on-one mentoring sessions on law/IP/product development.”    Additionally, Startup Essential, which runs until July 30th, features lectures by patent attorneys from patent law firms, tax accountants from tax firms, and lawyers from the crowdfunding company Wadiz. These experts will provide insights on how to address common startup issues related to patents, human resources, taxation, and legal matters.         

Corporate Governance Research Institute·Capital Market Research Institute, successfully held a policy seminar on ‘Recent Trends in Executive Compensation and Improvement Measures for the Regulatory Framework.’    On June 19th, a policy seminar was held at the Bulls Hall on the 3rd floor of the Financial Investment Center in Yeouido. This seminar was jointly organized by Korea University's Corporate Governance Research Institute (Director: Kim Woochan) and the Capital Market Research Institute. It featured presentations and panel discussions on the topic "Recent Trends in Executive Compensation and Improvement Measures for the Regulatory Framework."        The presentations were delivered by Professor Shin Jaeyong of Seoul National University Business School, Researcher Hwang Hyunyoung of the Capital Market Research Institute, and Professor Lee Changmin of Hanyang University Division of Business Administration. The panel discussion, moderated by Professor Kim Junghyuk of the Business School, included Senior Reporter Kwak Jungsoo from Hankyoreh Economic & Social Research Institute, Professor Na Hyunseung from Business School, Auditor Shim Hyeseop from Namyang Dairy Products, Senior Researcher Lee Inhyung from the Capital Market Research Institute, Director Lee Jaein from Hanwha Compliance Committee, and Senior Researcher Jung Jaekyu from Korea ESG Standards Institute.     Professor Shin Jaeyong of Seoul National University discussed the "Status and Regulation of Stock-Based Compensation," noting that "in U.S. companies, more than 70% of total executive compensation is stock-based, rewarding long-term stock price increases rather than immediate sales and profits. However, in Korean companies, most CEO and executive compensation is in the form of cash bonuses based on short-term financial performance such as sales and operating profit." He added, "the spread of stock-based compensation among executives in some companies is a meaningful change."     Next, Researcher Hwang Hyunyoung from the Capital Market Research Institute presented on "Problems and Improvement Tasks in the Current Executive Compensation Decision Process," comparing the executive compensation disclosure materials and regulations of major domestic and foreign companies. He pointed out issues in Korea's executive compensation system and proposed strengthening shareholders' authority over director compensation decisions and specifying the criteria for determining director compensation disclosed in business reports.       Professor Lee Changmin of Hanyang University discussed "Introducing the UK Say-on-Pay System," suggesting, "we should discuss the bifurcated Say-on-Pay system adopted in the UK and the EU” and “if Say-on-Pay is introduced, we need to consider Korea's unique characteristics." He emphasized, " the details to be included in the remuneration policy and remuneration report should be defined by executive order, ensuring detailed standards similar to the UK's disclosure regulations to prevent inadequate disclosures."       Following the presentations, the seminar continued with a heated panel discussion moderated by Professor Kim Junghyuk, including questions from the floor. With questions about ESG in Korea and recent issues in business administration, etc. a meaningful discussion concluded the policy seminar.   

Young Entrepreneurs Dive into Startups: Choo-Choo 17th Class ‘Homebrew’ Team Leader Chaehwan Son and ‘IApply’ Team Leader Kyumin Kim     On June 7th, Korea University Business School (Dean=Sangyong Kim) hosted the "2024 Startup Express Summer Season" at the LG-POSCO Business Hall, organized by the Startup Institute (Director=Jungbin Moon). Startup Express is a student startup competition held every summer and fall, managed by the Seung Myung-ho Center for Entrepreneurship Education Center.     Among the dozens of teams that applied for Startup Express, 13 teams made it to the finals. Homebrew, an AI music platform that allows users to listen to their favorite songs in their preferred voices, and I Apply, an AI service that simplifies the patent application process for patent attorneys, won the Seung Myung-ho Entrepreneurship Award and the Iljin Entrepreneurship Award, respectively. The KU Business Journal interviewed Homebrew Team Leader Chaehwan Son (Department of Health and Environmental Science 18), IApply Team Leader Kyumin Kim (DGIST), and team member Jungwoo Kim (Department of Computer Science and Engineering 21) to hear their thoughts on their startup journeys.      Q. What inspired the name 'Homebrew' and what is your business idea?    A. I was deeply inspired by Steve Jobs' autobiography, where he talks about the Homebrew Computer Club, one of the most influential clubs in Silicon Valley. We named our team Homebrew after this club. Our business idea revolves around AI music. We are experimenting with various aspects of AI music and our specific business goal is to launch a streaming platform where users can listen to AI-generated music.    Q. What led you to choose this particular business idea?    A. It wasn't an idea that came from intense brainstorming; rather, it was an extension of thoughts we had been having. While riding the bus with my co-founder, we heard an old song playing. We thought, "Wouldn't it be great if we could transform this song using AI?" We both enjoy music a lot. Music is universal; it can be enjoyed regardless of genre. When I was twenty, the band Jannabi performed at our Daedong Festival, and we were mesmerized by their music. Our idea naturally extended from our interests in the field of music.    Q. What motivated you to apply for Startup Essential?    A. To start a business or a startup, you need ‘funding’. Of course, we needed funds for our business. Internally, we aimed to win prizes to use as business capital. We decided to give it a shot while preparing our current project, and applied alongside government support programs. We weren’t nervous about the presentation. We were confident because we were simply presenting what we had done and outlining our vision based on that.    Q. What are your future plans?    A. Many people view startups as a means to build a resume, a hobby, or an experience. However, we see it as a serious business endeavour. We plan to approach it with the intensity and deliberation that running a business requires, rather than seeing it as just a game or experience. Instead of being known as a team that works a lot and tries hard, we want to be recognized for our results, as a team that performs well and speaks through its achievements.         Q. Kyumin Kim and Jungwoo Kim seem to be quite close. What is your relationship?    A. We are high school classmates. We lived in the dormitory together for three years. I didn’t realize it back then, but when talking with elementary school friends, I found out we attended the same Go academy. I went on to attend DGIST, while my friend went to Korea University's Department of Computer Science. Now, we have teamed up as team leader and member to embark on this startup journey.    Q. Your team name changed after winning the award.    A. We had some trademark issues, so we changed our name to the current one, IApply. Our service is based on trademark applications, and since ‘apply’ is a key term, we initially considered ‘AI Apply.’ We eventually shortened it to ‘I Apply,’ meaning ‘I apply’ for trademarks, to align with our AI-driven service.    Q. What inspired you to choose your current business idea?    A. We personally experienced the importance of trademark registration. I observed the process where patent attorneys assisted with applications. Most trademark registrations can be done independently with a little effort from the applicants. We believe that AI can handle 80-90% of the trademark application process, with patent attorneys assisting with the remaining 10%. That’s our goal. I have also registered trademarks myself and found the process manageable. However, since patents are relatively more complex, we are currently focusing solely on trademark applications.    Q. What motivated you to apply for Startup Essential?    A. There was an event at the Seoul AI Hub Workshop. I was looking for various external activities and decided to participate in the workshop. My friend was also studying at Korea University, so we applied together. We had previously received the Preliminary Startup Package organized by the Korea Institute of Startup & Entrepreneurship Development in 2023.    Q. How did you feel after moving in after the Iljin Entrepreneurship Award?    A. We needed the prize money, so it was beneficial to receive it. In the long term, it's great to meet various people here, including other entrepreneurs and Youngkyung Kim, the center director. Networking has been helpful because I have only interacted with developers and researchers. Coming here, I've met many impressive entrepreneurs, which has been inspiring. It's like breaking out of a shell and seeing the world from a broader perspective. The greatest advantage has been this expansion of my horizons.    Q. What are your future plans?    A. Entrepreneurs need to make money. While social ventures might be different, running a business means that you need to generate profit from clear business goals and ideas. Rather than focusing on securing investment or expanding rapidly, our goal is to have a solid business idea that generates stable income. 

Appointment as Professors at Prestigious Universities: KUBS Ph.D. Graduates Expanding Overseas  'The First & The Best'. This is the phrase that defines the Business School at Korea University, which has been leading the field of business administration in South Korea. Korea University's Business School was the first in the country to establish a business administration department and the first to launch a graduate school. Even today, Korea University's Business School is considered the best in the nation for both undergraduate and graduate programs, including master's and doctoral degrees.     The reason why Korea University's Business School is at the top of the country is evident in the career paths of its doctoral graduates. Many of them have gone on to become 'professional researchers' and 'faculty members' in various sectors of society. In particular, a significant number have been appointed as professors at prestigious universities abroad, spreading the advanced teaching methods and lectures of Korea University's Business School. The following is a list of doctoral graduates appointed as professors at overseas universities over the past 10 years (2014-2023).     ▶Jimi Park (Marketing), Assistant Professor at Hawaii Pacific University ▶Hyejung Na (Finance), Assistant Professor at California State University (2015) ▶Daeyeob Kang (MIS), Assistant Professor at Loyola Marymount University ▶YUNXIAO LIU (Finance), Lecturer at SHANGHAI University (Silc Business School) ▶LINGXIA SUN (Finance), Lecturer at Nankai University (Business School) ▶Hyehyun Park (Finance), Assistant Professor at Southwestern University of Finance and Economics (2016)     ▶Sojin Yoo (Accounting), Assistant Professor at FREDONIA (State University of New York) ▶ Lin GUO (Finance), Associate Professor at the School of Finance, SWUFE ▶Seongkyu Lee (Marketing), Assistant Professor at Akita International University ▶Suhyun Jeon (MIS), Lecturer at Brunel University London ▶Hyeyeon Park (International Business Management), Lecturer in Strategy and International Business at the University of Surrey (2017) ▶Sangbeom Park (Management), Lecturer in Strategic Management at the University of Bradford (2019) ▶MUDITA TRIZA (Marketing), Assistant Professor at the University of Indonesia (2021) ▶Jaeun Jeong (Marketing), University of Findlay (2023) ▶Junghee Byun (Marketing), Assistant Professor at NEOMA Business School (2024)     Dr. Jung-hee Byun, who is expected to graduate in August 2024, has been appointed as an Assistant Professor at NEOMA Business School. Located in the Normandy and Grand Est regions of France, NEOMA Business School is a public business school that received all three major international accreditations by 2011, making it one of the 48 schools worldwide with triple accreditation. Additionally, it ranked the 41st in Europe and 9th in France in the Financial Times European Business School Rankings of 2022, making it one of the top 10 business schools in France.   

Korean Companies Must Utilize Entrepreneurial Spirit for Innovative Growth in the AI Era… Korea University Business School 2024 Global Business Forum Ended    Renowned Global Scholars Visit  Proposes K-Management Development Model from a Global Perspective        From July 1st to July 8th, Korea University Business School (Dean=Sangyong Kim) hosted the '2024 Global Business Forum' (hereinafter referred to as the Forum) at the LG-POSCO Business Hall. Organized by the KUBS Global Business major, the forum was themed 'Sustainable Global Entrepreneurship and Innovation,' sharing insights into the challenges and future development strategies for Korean companies.    The forum was held over four days—on the 1st, 3rd, 4th, and 8th. Before the official start of the forum, Dean Sangyong Kim emphasized the important role of the Business School in addressing key issues faced by Korean companies and society in his welcome speech. Dean Kim said, “The KUBS boasts the largest faculty in the country with 90 world-class full-time professors and leading programs, and we are dedicated to nurturing the next generation of leaders in both industry and academia.”    Dean Sangyong Kim continued, “This forum features a panel of renowned scholars who will share their insights on career development and the creation of impactful academic papers. I hope this forum will inspire new ideas and foster collaborations that will be practically beneficial to the participants’ careers and studies.”      Next, the forum’s keynote address was delivered. The keynote speaker was Sharon Alvarez, President of the Academy of Management and a distinguished scholar in the field of entrepreneurship. Sharon Alvarez is also a professor at the University of Pittsburgh. In her keynote, Professor Sharon Alvarez emphasized, “Despite limited land and resources, Korean companies have achieved technological advancement and innovative growth through swift decision-making and proactive global market entry.” However, she expressed concerns about the weakening potential for economic growth and structural issues faced by Korean companies, underscoring the necessity of ‘entrepreneurship.’      Following the keynote address, there was a discussion on enhancing corporate competitiveness. Distinguished scholars such as Professor Jay Barney from the University of Utah, Professor Curba M. Lampert from Florida International University in the field of technology management, Professor Minyoung Kim from Ohio State University, Professor Brian S. Park from Georgia State University, and Professor Duckjung Shin from Korea University Business School conducted academic workshop panel sessions for domestic and international master’s and doctoral students. About 50 faculty members and graduate students from prestigious domestic and international universities participated in the workshop, receiving in-depth advice on developing paper ideas and future career development plans.    On July 3rd, Professor Dana Minbaeva from King's College London, a fellow of the Academy of International Business, delivered a lecture titled "From Publications to Visibility: What's More?" She introduced strategies for not only conducting world-class business research but also disseminating it practically. Following her lecture, junior scholars including Professor Hyeyeon Park from the University of Surrey, Professor Jiwon Song from the University of Edinburgh, and Professor Zibang Chen from the University of Manchester provided information to domestic graduate students about job opportunities in the United Kingdom and successful employment strategies.      On July 4th and 8th, respectively, Professor Saeed Samiee from the University of Tulsa, a fellow of the Academy of International Business, and Yan Anthea Zhang, President of the Strategic Management Society and a professor at Rice University, were invited to present their research papers. They also shared their strategies and experiences in submitting papers with faculty members and students from the KUBS.      Meanwhile, Professor Duckjung Shin from Korea University Business School, the planner of the forum, emphasized, "This academic event provided a valuable opportunity to share meaningful insights on enhancing the competitiveness of Korean companies and economic growth." He added, "We will continue to invite and engage with world-renowned scholars to elevate the academic standing of Korea University Business School."