AMP Alumni Jangsun Park and K-MBA Alumna Kyunga Eun Awarded the Order of Industrial Service Merit      Jangsun Park, President of the Advanced Management Program (AMP) Alumni Association (CEO of TodayArt Co., AMP Classes 52 and 97), and Kyunga Eun, Executive Vice President of the Korea MBA (K-MBA) Alumni Association (CEO of CeraArt Co., K-MBA Class 81), have elevated the reputation of Korea University Business School (KUBS) by receiving the Silver Tower and Bronze Tower Orders of Industrial Service Merit, respectively.    President Park was awarded the Silver Tower Order of Industrial Service Merit on Friday, May 23, 2025, during the commemorative ceremony of the 2025 Korea Small and Medium Business Conference, held at the KBIZ Hall of the Korea Federation of SMEs. He was recognized for his outstanding business achievements and significant contributions to industrial development. For over 30 years, he has led technological innovation in the printing and cultural content industries and played a key role in the globalization of K-POP content. By implementing smart factory systems based on IoT, AI, and big data, he has spearheaded digital transformation and helped establish eco-friendly production systems across the sector. He also earned high praise for his dedication to talent development, community engagement, and employee welfare—exemplifying sustainable management and corporate social responsibility.      Executive Vice President Eun received the Bronze Tower Order of Industrial Service Merit on Sunday, May 19, 2024, at the commemorative ceremony for the 60th Invention Day, held at COEX Magok in Seoul. As the founder of CeraArt Co., a company specializing in advanced ceramic materials, she has led the development and production of zirconia ceramic components for global luxury brands and a wide range of industrial sectors—achieving 100% export-based operations. Under her leadership, CeraArt has been recognized as a World-Class Product Manufacturer for eight consecutive years. This prestigious honor acknowledges her continued commitment to sustainable technological innovation, pioneering efforts in global market expansion, and socially responsible business practices. Notably, Eun has been reappointed as an international judge for the Global Awards hosted by the World Intellectual Property Organization (WIPO) under the United Nations, affirming her global expertise. She also plays an active role in advancing social value as a member of the Presidential Council on Intellectual Property, director of the Korea Entrepreneurship Foundation, Vice President of the Korea Venture Business Women’s Association, and advisory board member of Korea University Business School (KUBS). She is currently enrolled in the KUBS-DBA program at Korea University, where she continues to expand her management expertise by integrating academic theory with practical experience.    These two honorees are exemplary leaders who have embodied the core values of Korea University Business School’s (KUBS) vision—“Business for Society – Inspiring Next Leaders”—by advancing technological innovation and demonstrating a deep commitment to social responsibility in their respective industries. Their achievements serve as a powerful source of inspiration and pride not only for fellow alumni but also for current students and future generations.    The Order of Industrial Service Merit is the highest national honor bestowed upon individuals who have made outstanding contributions to industrial and technological advancement. These awards stand as a meaningful testament to the role KUBS MBA alumni play as trailblazers in driving the future and innovation of Korean industry. 

Coding-Free Tech Startups: Entrepreneurial Lecture by Developer In-Sik Baek      The Entrepreneurial Academy lecture hosted by the Korea University Business School (KUBS) Startup Station was held on Tuesday, May 20, at the KOLON Lecture Room (Room B307) in the Hyundai Motor Hall. The session featured In-Sik Baek, a Korea University alumnus and expert in tech-based startups, who delivered a special lecture titled “Building a Web App in 6 Hours with Lovable and Cursor—No Coding Required: Core Strategies and Hands-On Practices of Vibe Coding.” Rather than focusing solely on theory, the lecture emphasized immediately actionable knowledge through hands-on practice using cutting-edge AI development tools. The session aimed to provide participants with practical skills they could apply directly.      In particular, the event stood out for the full participation of over 100 attendees, all of whom successfully completed their own web apps during the session. Even those without prior coding experience were able to build functional web apps using a no-code platform, gaining hands-on insight into tech-based entrepreneurship. Baek remarked, “Vibe coding is a technique where AI writes code for you when you speak in natural language,” describing it as an innovative approach that enables anyone to develop production-level web apps without the need for complex programming.      The practice-based curriculum was also met with enthusiastic feedback. Participants drafted web app plans based on their own ideas, created user interfaces using provided prompts, and experienced the full workflow of vibe coding. During the session, Baek shared practical tips on writing effective prompts and using the Lovable tool, offering hands-on guidance that helped participants complete their projects more efficiently.      Currently, Baek works as an AI development researcher at a major corporation. With two startup ventures and a track record of leading various innovation projects, he is widely recognized as a hands-on expert in AI integration and MVP development. He emphasized, “Vibe coding is a powerful tool for rapidly creating MVPs and testing customer feedback. Ultimately, what matters most is not the technology, but the customer.”      This lecture was especially meaningful, as it was offered as a form of talent donation. Baek remarked, “I wanted to give back to my alma mater and provide practical support to junior students,” as he generously shared field-tested skills and entrepreneurial mindsets with aspiring startup founders.      The Entrepreneurial Academy, operated by the KUBS Startup Institute, is a student-focused entrepreneurship education program that regularly hosts lectures by experts from diverse fields. Aimed at aspiring and early-stage entrepreneurs, each session draws strong interest and participation, offering students firsthand insights into startup experiences and the latest trends in the field. 

Becoming the Driving Force Behind SK Group’s Vision” — 4th Capital Market Expert Program Kicks Off      Korea University Business School (KUBS) held the entrance ceremony for the 4th cohort of the SK Capital Market Specialist Program on Thursday, May 8, in Room 209 of the Hyundai Motor Hall.    The event was attended by KUBS Dean Eonsoo Kim, Program Director Seokkyun Kim, representatives from SK Group, 24 new participants, administrative staff, and teaching assistants. The ceremony featured a congratulatory address and a group photo session.      Following the opening remarks, Dean Eonsoo Kim delivered his congratulatory speech, stating, “The SK Capital Market Specialist Program is a practice-oriented curriculum designed to build real-world capabilities that can be applied immediately in the field. I hope this program empowers participants to translate SK Group’s future vision and strategies into action and grow into professionals capable of identifying new opportunities.”    Jintaek Kim, Head of Growth Support at mySUNI, also offered a welcoming address, stating, “We hope you will gain meaningful learning and growth through collaboration with both the distinguished faculty of KUBS and practitioners from the field.”      Following an introduction to the program’s structure and curriculum, participants took part in a self-introduction session, and the ceremony concluded with a group photo.    The SK Capital Market Specialist Program is a customized curriculum that integrates theory and practice to cultivate capital market experts. The program is also gaining attention for its potential to foster collaboration across various industries. Spanning 14 weeks, the action learning-based curriculum includes team-based capstone projects designed to strengthen participants’ real-world problem-solving capabilities. 

[Interview] Professor Kihoon Kim on His New Book 『Platform Business in the Age of AI』     “Even in the era of AI, the success principles of platform businesses remain valid, but the impact of AI on platform businesses is significant.”  Even as AI technology fundamentally reshapes the business paradigm, the essence of platform businesses remains unchanged. Professor Kihoon Kim’s new book, 『Platform Business in the Age of AI』, offers deep insights into the structure and evolution of platform business models and the transformative effects of AI. Through this book, Professor Kim seeks to present the core principles of platform strategy and a future-oriented perspective.    Q. What motivated you to write 『Platform Business in the Age of AI』?  A. The idea first came to me in 2012 when I participated in a seminar at Gyeongsang National University. Rather than presenting an academic paper, I had been invited to explain the concept of platform economy and strategy in a way that undergraduate students could easily understand. After spending an entire day traveling to and from Jinju, I thought to myself, “If I organize this material into a book, I could share this knowledge with a much wider audience.”  I began writing in earnest about three years ago. On a flight back from an academic conference in the U.S., I listened to an audiobook of Malcolm Gladwell’s MasterClass on writing. As I listened, I felt a strong conviction that the time had come for me to write a book. After years of contemplation, that moment marked the true beginning of this project.    Q. What are the core messages you aimed to convey through this book?  A. First and foremost, I emphasize that no matter how advanced AI becomes, the fundamental structure and survival principles of platform businesses remain valid. A platform essentially serves as an intermediary that connects Group A and Group B. The rules of survival and competition that arise from this structure remain largely unaffected by the advent of AI.  Another message I wanted to convey is that while many people associate platform businesses with innovation, I believe the term evolution is more appropriate. For example, American Express originally began as an express delivery company and, over the course of nearly 100 years, evolved into a credit card platform business. Many platform models grow not through sudden innovation, but through gradual, long-term evolution.  Finally, many startups and manufacturing-centered conglomerates still tend to think, “We have nothing to do with platform strategy.” I believe that mindset needs to change. Just as Apple evolved from a computer manufacturer into a platform company through the iPhone OS and App Store, manufacturers today can no longer regard themselves as unrelated to platform strategy. Korean companies—Samsung included—should actively explore opportunities to enter platform businesses by leveraging their existing customer bases.    Q. How do you see AI technology impacting platform businesses?  A. The most immediate impact of AI is the enhancement of matching technologies. Platforms like YouTube and Amazon, which actively leverage AI, analyze user behavior data to deliver more precise and personalized services. This, in turn, boosts user loyalty and further solidifies the dominance of leading platforms.  At the same time, AI is likely to accelerate user multi-homing, thereby increasing the survival chances of new platforms. For example, when searching for real estate listings, users in Korea often use four major apps: Zigbang, Hogangnono, Naver Real Estate, and Dabang. Even if these apps dominate the market, a new platform that leverages AI to offer a better user experience could still attract users—at least until the incumbent platforms catch up with similar AI features.  Another notable change is that generative AI could serve as a direct touchpoint between customers and platforms. For instance, if a user says, “I want to travel to Disneyland in LA,” current AI systems might simply create an itinerary. But in the near future, AI could evolve into a full-service assistant that even books flights. In such a scenario, AI becomes the intermediary between the customer and the travel platform, fundamentally transforming how platforms are used.    Q. How do you interpret the spread of generative AI and its effect on the platform market?  A. Generative AI has the potential to emerge as a new kind of player in the platform market. Take KakaoTalk, for instance—it built a large user base by offering free messaging, and later expanded into a full-fledged platform by adding features such as digital gifting and content sales. In a similar vein, generative AI tools like ChatGPT could leverage their massive user base to integrate with various platform services or even create entirely new ecosystems.  Ultimately, generative AI is both a technology with built-in platform capabilities and a potential launchpad for developing new platforms.    Q. What advice would you give to Korea University Business School students on how to approach this book?  A. If you're new to platform business, I recommend reading Chapters 1 through 6 to build a solid understanding of the basic concepts and structural foundations. These chapters are designed to help readers grasp the core principles in a step-by-step manner.  For students who already have some background knowledge or are interested in launching a platform-related startup, Chapters 7, 8, and 9 will be especially valuable. Chapter 7 presents a range of platform evolution cases, Chapter 8 explores how traditional companies have successfully transitioned into platform-based models, and Chapter 9 analyzes the impact of AI on platform ecosystems. These chapters offer practical insights that can help readers deepen their understanding and apply what they’ve learned to real-world situations.    Q. What was the most difficult or memorable part of writing this book?  A. The most difficult part was staying committed and seeing the manuscript through to the end. At times, I questioned whether people would actually find the book engaging. During those moments, my family’s support was a tremendous source of motivation. More importantly, I was able to keep going because I believed the book could offer unique value to readers.  While many books on platform business are rich in information, they often fall short in providing actionable insights or practical guidance. I wanted to make complex concepts easier to grasp—not through one-sided explanations, but by presenting real-world examples that readers could relate to and empathize with. In particular, I tried to convey the core of platform business through stories that reflect the actual experiences of companies and users, so that readers could understand the subject more naturally and intuitively.    Q. Do you have any upcoming research or writing plans?  A. I plan to continue my research on the platform economy while also exploring, from an academic perspective, how AI is reshaping business. These days, it’s clear that many people are deeply interested in the impact of AI—just take a look at the variety of books lining the shelves at bookstores. From technical guides on how to use AI to general interest books on its societal implications, AI is a topic of widespread fascination. My next goal is to delve into how AI is influencing both the business world and our daily lives, and to capture those insights in a future book.  I also run a YouTube channel called Kihoon Kim’s Business Insight, where I explain topics such as platforms, technology, and business strategy in a simple and engaging way. For stories that didn’t make it into the book or insights on the latest trends, I hope to reach more people through this channel. If you’re interested in platforms, AI, or business strategy, I encourage you to check it out.   ▶ [Click here to visit Kihoon Kim’s Business Insight YouTube channel] 

Interview with the Recipient of the SK Research Paper Award – Professor In Joon Noh      In 2025, a research paper co-authored by Professor In Joon Noh of Korea University Business School, titled "Evaluating Quality Reward and Other Interventions to Mitigate US Drug Shortages" (co-authors: Sergey Naumov, In Joon Noh, Hui Zhao), was published in the Journal of Operations Management (Vol. 71, Issue 3) and received the SK Research Award.  The study was highly acclaimed for its quantitative assessment—using a system dynamics model—of the effectiveness of the “Quality Reward” policy recently proposed by the FDA to address the ongoing drug shortages in the United States, a problem that has persisted for over a decade.    Q1. Congratulations on publishing your paper in an SK Tier 1 journal. Could you share your thoughts on this achievement?  A. I’m very pleased and grateful that the paper I began working on in late 2020 has finally been published after a lengthy process and multiple rounds of revision.    Q2. Could you briefly introduce the main content and background of your paper?  A. Drug shortages have long been a challenging and persistent issue in the United States. Interestingly, the root cause of this problem is closely tied to the unique characteristics of pharmaceutical products. Unlike general consumer goods, patients are unable to directly evaluate the quality of medicines. As a result, ‘low price’ often becomes the dominant criterion for product selection, rather than ‘high quality.’  Due to this market characteristic, pharmaceutical manufacturers tend to prioritize cost reduction over quality investment once they obtain initial approval from the U.S. Food and Drug Administration (FDA). This dynamic leads to severe price competition, declining profitability, and ultimately, quality degradation—creating a vicious cycle that results in repeated supply disruptions.  In this study, we use a system dynamics simulation to examine the potential impact of a “Quality Reward” policy—a mechanism recently proposed by the FDA and several industry experts and scholars. This policy aims to quantitatively rate the quality level of pharmaceutical products and provide incentives based on those ratings, thereby addressing the underlying causes of drug shortages.    Q3. What motivated you to start this research?  A. Before beginning my doctoral studies, I worked as a quality engineer in the semiconductor division at Samsung Electronics. That experience led me to pursue research related to quality management. Fortunately, during my PhD, I had the opportunity to collaborate with the U.S. Food and Drug Administration (FDA) on several projects aimed at improving pharmaceutical quality. These collaborations sparked my interest in exploring the broader issues of drug quality and shortages in the U.S. market.  This particular study was my first independent research project after completing my PhD and starting my academic career at a university in the United States. Unlike the projects I conducted with the FDA during my PhD—many of which were under the guidance of my advisor—this paper was initiated jointly with my new faculty colleagues. That’s why the publication and this award feel especially meaningful to me.    Q4. What societal or industrial impact do you expect from this research?  A. This study, Evaluating Quality Reward and Other Interventions to Mitigate US Drug Shortages, quantitatively evaluates the recently discussed “Quality Reward” policy in comparison with existing measures that have been implemented to address drug shortages. In addition, it examines the potential unintended consequences of the Quality Reward approach and proposes strategies to mitigate them.  I hope this research will serve as a valuable reference for policymakers working to implement such incentive-based frameworks and ultimately make a meaningful contribution to resolving the ongoing issue of drug shortages.    Q5. What are your future research plans or areas of interest?  A. My current research focuses on pharmaceutical quality and drug supply shortages. Moving forward, I plan to expand the scope of my work to include healthcare service domains such as hospitals and nursing homes. Now that I have returned to Korea, I also intend to study the Korean pharmaceutical and healthcare industries more closely.    Q6. Do you have any advice for students?  A. No matter where you work or what profession you choose, I believe it’s important to maintain a spirit of curiosity and a mindset geared toward improving the situation around you. If you approach your work with that attitude, meaningful opportunities will naturally follow—whether in your current role or along a new career path.    Summary of Professor In Joon Noh’s Paper:    「Evaluating quality reward and other interventions to mitigate US drug shortages」 Drug shortages have posed a serious threat to public health and the healthcare system in the United States for over a decade. While previous studies have examined the causes and consequences of these shortages, relatively few have explored potential policy solutions. This study uses a system dynamics model to assess the long-term effects of two existing policy interventions—accelerated drug approval processes and incentives for manufacturers to expand production—alongside the more recently proposed “quality reward” initiative in the U.S. generic drug market. The analysis finds that while the existing interventions may provide short-term relief, their long-term effectiveness is limited. In contrast, the quality reward policy demonstrates greater potential for sustainably mitigating drug shortages. However, it also carries the risk of creating monopolistic supply markets. To address this concern, the study proposes a mechanism for publicly disclosing quality information. As the first study to quantitatively compare the long-term effects of the quality reward and other existing policies—and to explain the structural mechanisms underlying their outcomes—this research offers important insights for strengthening the resilience of the drug supply system. 

[Interview] A Simulation Strategy to Reduce Judicial Delays in India – Professor Jeunghyun Kim Publishes SK Tier 1 Paper      Q1. Congratulations on publishing a paper in an SK Tier 1 journal. How do you feel about this achievement?  I am truly honored and grateful to have my paper published in an SK Tier 1 journal. There were numerous challenges and iterations throughout the research process, but it is deeply rewarding to see these efforts culminate in publication in a prestigious international journal. What feels especially meaningful is that the findings were finalized at the right time and shared through such a respected platform. I hope to continue conducting research that offers genuine academic value.    Q2. Could you briefly introduce the main focus and background of your paper?  This study focuses on addressing the severe judicial delays experienced by the Supreme Court of India by proposing an operations strategy. Known globally for its chronic case backlogs, the Indian Supreme Court presented an opportunity to analyze a complex real-world issue from a service operations perspective. I collected actual case data from the Court’s official website and developed a simulation model that incorporates various operational scenarios.  Importantly, the model reflects the Court’s real-world operational structure, including both regular and holiday work schedules. Rather than suggesting a simple increase in personnel, the research demonstrates how improvements in operational methods alone can significantly reduce trial delays.    Q3. What motivated you to pursue this research?  This research didn’t originate from a particular social mission. I’ve always found fulfillment in solving complex problems—and if that process happens to benefit society, all the better. This project followed that same spirit.  Judicial delays in the Supreme Court of India extend far beyond legal concerns; they represent systemic inefficiencies that affect the broader society. In India’s labor-intensive economy, a delayed ruling can halt or disrupt economic activity. Some individuals are unable to start jobs due to unresolved legal issues, and contractual disputes may take anywhere from 300 days to three, or even ten years to resolve. Recognizing these structural inefficiencies, I set out to analyze the problem quantitatively and explore actionable improvements.    Q4. What potential impact do you think this research could have on society or industry?  This study highlights how optimizing the operational aspects of judicial systems can bring broad societal and economic benefits. Legal delays lead to postponed decision-making and stalled activity at every level—individuals, businesses, and governments alike.  Our simulation results show that, with the adoption of appropriate operational strategies, average trial delay times can be reduced by as much as one-third. Although the exact economic impact has not been quantified, a reduction of that magnitude would likely produce meaningful improvements across society. I believe enhancing judicial efficiency is a critical task that advances both fairness and productivity.    Q5. Could you share your future research plans or areas of interest?  Many business research projects are inspired by real-world developments. For example, the emergence of Uber spurred numerous studies on matching algorithms and pricing strategies. My approach differs slightly: rather than beginning with a specific application, I ask which kinds of problems can be addressed using a given analytical method.  Going forward, I plan to continue exploring the practical relevance of my methodological tools. My work is method-driven rather than problem-driven—but if the method proves effective in solving real-world challenges, I consider that a meaningful academic contribution.    Q6. Do you have any advice for junior researchers or students?  Above all, I encourage you to broaden your perspective. The world is full of compelling, high-impact problems—but without a wide field of view, you may never discover them. Staying attuned to what’s happening beyond your immediate environment is essential.  Also, don’t avoid difficult challenges. Each problem requires its own suitable set of tools—its own methodology. If you stick only to what you’re comfortable with, you may miss opportunities to solve important issues. I recommend that students step outside the business school and engage with courses in mathematics, industrial engineering, economics, and beyond.  You don’t need to master every subject. Sometimes just knowing that a certain method exists can completely change the way you understand a problem and dramatically expand the scope of your research. I firmly believe that a broad intellectual curiosity and a balanced learning approach are the foundation of impactful research.    Summary of Professor Jeunghyun Kim’s Paper  “Service Operations for Justice-on-Time: A Data-Driven Queueing Approach”  A lack of resources in judicial systems can lead to trial delays, hinder economic growth, and ultimately erode access to justice. This study examines the Supreme Court of India through the lens of service operations and proposes realistic strategies for improvement.  The Indian Supreme Court operates under a structure where the same judge repeatedly reviews a single case—a system that can be modeled as a case management queue. Based on actual case data, the research team developed a simulation model that realistically represents the two-phase judicial process: pre-admission and post-admission. The model reflects actual conditions, including shared judicial capacity across phases and non-working days such as holidays.  The study found that inefficiencies arise from misalignment between case scheduling and judicial capacity, as well as from rigid calendaring systems. However, by introducing more flexible scheduling, average trial delays could potentially be reduced by up to 65%.  This research offers a data-driven and operationally feasible alternative for enhancing judicial system performance and delivering more timely and equitable legal services.