Korea’s Top University and Students… “KUBS is the Best Value Chain”  [2024-1st semester New Professor Interview] Professor No Injun   The Korea University Business School (Dean: Kim Sangyong) appointed two new faculty members, Professors Cho Dummim (Finance) and No Injun (LSOM), in March 2024. In light of this, the Business News had an interview with the newly appointed professors, Cho Dummim and No Injun, to introduce their aspirations to the readers.     Professor No Injun obtained his bachelor's degree in Industrial Engineering from Hanyang University and his master's degree in Industrial Engineering from KAIST. He then earned his Ph.D. in Operations Management from The Ohio State University. He worked as a Quality Engineer at Samsung Electronics and served as an assistant professor at The Pennsylvania State University.      Q: What motivated you to choose the path of academia after graduating?    A: Since childhood, I have always told people that my future dream was to become a scientist. So, although I briefly stayed in the industry, it seems natural that I eventually returned to the path of academia. Although I am not a scientist researching basic science or engineering, I consider myself a management scientist, studying Management Science. In a way, it's reminiscent of my childhood dream.    Q: What is the reason for joining KUBS?     A: Personally, while living as a professor in the United States, I had a vague desire to return to Korea's prestigious universities and contribute to the development of business studies in Korea. Amidst this, I was fortunate to receive a good opportunity at KUBS, the top business school in Korea. Additionally, my family, especially my wife, who was on leave as an elementary school teacher in the United States, also wanted to continue her career as a teacher in Korea. I am grateful to KUBS for giving me this excellent opportunity.    Q: What do you consider the charm of the School of Business at Korea University?    A: Firstly, it is undoubtedly the top business school in Korea, and from a research environment perspective, it provides conditions similar to leading universities in the United States, allowing for high-quality research. Additionally, I feel that nothing is lacking in terms of students' intellectual level, class participation, and English proficiency. Therefore, I consider the high level of students as one of the charms of KUBS.     Q: As a professor at KUBS, what teaching methods do you employ for your students?    A: Basically, as long as the lecture content permits, I prefer interactive and participatory classes such as group discussions, presentations, or solving problems on their own rather than one-way lectures (of course, if the lecture content itself is theoretical, lecture-oriented teaching is inevitable). Also, I make efforts to discover and introduce cases that demonstrate how the course contents are being applied in actual business environments.    Q: Could you introduce the current course you are teaching?    A: I am currently teaching the subject ‘Operations Management.’ In summary, the course teaches basic theories and methodologies that can help make any work, regardless of the field or major, more efficient. Fundamentally, it instills a mindset of pursuing efficiency.     Q: If you were to express "KUBS is _____" in one word, what would it be?    A: I would like to say "Best value chain." Value chain simply refers to all activities or a series of processes that a business undertakes to provide valuable outputs (products, services) to consumers. I consider KUBS to be the best business school in Korea because it provides an advanced learning and research environment that fosters excellent students who can create significant value for our society and ultimately the world.    Q: What kind of professor do you aspire to be for your students?    A: I hope to be a professor who provides practical help to students. I would like to be able to offer appropriate advice based on my experiences in the industry and as a professor when students have concerns about their future careers. Additionally, I hope that the contents of the courses I have taught can somehow be helpful to students in their future careers.   

"Never Lose Today's Excitement and Passion" … Successful Completion of AMP 97th Entrance Ceremony    The entrance ceremony for the 97th batch of the Advanced Management Program (AMP) at Korea University's Graduate School of Business (hereafter referred to as the entrance ceremony) was held on March 11th at the SUPEX HALL in the LG-POSCO Building. The AMP at the Graduate School of Business provides education on the latest management theories and techniques to top executives working in various industries such as government, corporate, and public sectors, offering them the opportunity to build a broad personal network. Attending the entrance ceremony to congratulate the 97th AMP batch, were Dean Kim Sangyong, Professor Kim Seokgyun, Head of AMP, and Lee Dong-seok, President of the AMP Alumni Association, among others. The executives of the AMP Alumni Association also graced the occasion with their presence.     Director Kim Sangyong stated, "New members possess excellent leadership qualities to lead this generation" and expressed confidence that "through the AMP, they will become upgraded leaders suited for the rapidly changing business environment of this era." He further added, "I hope that you will cherish the ideals of Korea University – liberty, justice, and verity - in your hearts and maintain good relationships for a long time to come."       Next, Lee Dongseok, President of the AMP Alumni Association, remarked, "Balancing studies and work may be physically demanding, but it will be a precious time" and expressed his anticipation for "everyone to successfully complete the program and await the day of reunion with the alumni association."      The entrance ceremony concluded with the singing of the school anthem and taking commemorative photos. Subsequently, the members of the 97th AMP batch went on a campus tour of Korea University, enjoyed a special lecture by Director Lee Yongjae of the International Finance Center, and a dinner, carrying the excitement of a new beginning in their hearts.   

January - March KUBS Academic News   1. Professor Young-Kyu Kim    Professor Young-Kyu Kim (Business Management) has taken office as the president of the Korea Academy of Strategic Management from January 1, 2024 and has been leading the Academy since. The Korea Academy of Strategic Management is recognized as the leading domestic society in the field of strategic management, publishing the 'Strategic Management Research' journal three times a year. Additionally, the society spearheads research in strategic management both domestically and internationally by hosting various academic conferences, including spring and fall conferences. Meanwhile, the Korea Academy of Strategic Management plans to hold its Spring Academic Conference on April 13, 2024, at the Hyundai Motor Hall.   

On February 28th, a retirement ceremony for Professors Soo Young Kwon, Kyung Suh Park, and Jaemin Han was held at the Ahn Young-Il Hall on the 6th floor of the LG-POSCO Building. Professor Soo Young Kwon cultivated younger scholars at the KUBS for 31 years, Professor Kyung Suh Park for 24 years, and Professor Jaemin Han for 33 years. In light of their retirement, the KUBS Newspaper interviewed them to hear their thoughts.    “The Business School that Changed Me...Seeing My Students Succeed Was the Most Rewarding Part”  [Interview with a Retiring KUBS Professor] Professor Kyung Suh Park      Firstly, Professor Kyung Suh Park has achieved outstanding academic accomplishments in the field of finance through numerous papers and books, holding significant positions within the university such as Director of the Corporate Governance Research Institute, Director of the Business Management Research Institute, Head Professor of the Finance MBA, and leader of the Management Studies Asia Hub project team. Outside the university, he played a crucial role in the advancement of the business administration field by serving as President of the Korean Finance Association, Vice President of the Korean Securities Association, auditor of the Korean Financial Association, and more. Furthermore, he promoted the prestige of the KUBS both domestically and internationally through roles like Director of the Korea ESG Standards Authority, Chairman of the Korea Exchange's Listing Disclosure Committee and Index Committee, Chairman of the Public Fund Management Committee, and Research Chairman at the Korea Institute of Finance.    Q: You graduated from the Department of Business Administration at Korea University. How were you as a student?    A: Until high school, I was a student who only focused on studying, perhaps with a shy personality. However, upon entering KUBS, I engaged in a student society called KCC. I had the opportunity to drink with my seniors and juniors while participating in club activities and academic studies. I was from the class of '77, and back then, we often drank makgeolli without any side dishes because we often didn’t have enough money. Through these experiences, I became more active and extroverted. The unique culture at Korea University, especially the strong senior-junior relationships, changed who I am.    Q: Was there a moment during your school days that led you to pursue a career as a scholar?    A: Like most, I focused on having fun during the early days of my school years, so my grades were not great for a while. I had studied hard through high school, but since it was forced study, I ended up not studying much upon reaching university. After barely graduating and serving in the military, I joined a company but then had the opportunity to pursue an MBA in the United States. It was then that I became self-motivated in studying and started to find it interesting. For the first time, I found studying to be enjoyable. That was when I decided to pursue a Ph.D.    Q: Having spent two-thirds of your life at Korea University, how do you feel about retiring?    A: First and foremost, I am grateful to Korea University for making me who I am today. It was a precious opportunity and a great pleasure to teach my juniors in the place where I studied. Korea University has especially strong senior-junior relationships, which was a source of great satisfaction and pride for me. The most rewarding thing was seeing my students succeed in society after graduation. Even now, I feel happiest when I join them for a drink when they invite me.    Q: You have been the director of the Corporate Governance Research Institute for a long time. Are there any memorable episodes?    A: While there is no specific episode, the purpose of the institute led to research and policy seminars related to the governance issues of domestic companies. In this process, I often made candid remarks that business owners or major shareholders (so-called owner-managers) might not have wanted to hear, leading to somewhat uncomfortable relationships with them. It is encouraging that various governance improvement policies, such as Value-up Korea, are being considered due to the consensus among investors and policymakers that the undervaluation of domestic companies' stocks is mainly due to problems with domestic corporate governance practices.    Q: As a prominent scholar in corporate governance, what values do you think companies should pursue in the governance (G) area of ESG management?    A: I believe most scholars and investors agree that the goal of a company should be to maximize corporate value. However, this concept is centered around shareholders, so I also agree with the argument that the interests of various stakeholders, such as employees, the local community, and the global environment, should be considered simultaneously. Especially since Korea has achieved a certain level of economic growth and society's expectations and demands regarding various issues arising from corporate activities have significantly increased, companies failing to meet these expectations can cause various problems.    However, outcomes like corporate social responsibility and environmental protection are difficult to measure in economic value, leading to agency problems where companies and their managers might not choose the appropriate level at which to address these issues. This problem is particularly severe in companies with low ownership concentration, as confirmed by many studies. The recent step back from emphasizing ESG management by American companies and investment firms like BlackRock reflects this context. It seems that companies need the wisdom to appropriately reflect the demands of the societies they belong to.    Q: During your time at KUBS, you have mentored many students. Do you have any memorable episodes with your students?    A: I remember when two of my Ph.D. students - we were discussing their ongoing paper in the lab one day as usual, when suddenly they announced that they were getting married and asked me to officiate their wedding. I still keep in touch with them and see them doing well, which makes me think how good it was to become a professor. Additionally, it's very heartwarming when I work with companies, and the person in charge greets me saying that they were a student who attended my undergraduate classes. Ultimately, seeing my students do well is the most memorable aspect.    Q: If you were to express KUBS in one word or one sentence differently, how would you like to express it?    A: As I mentioned before, I would like to say it is a “place that changes people.” The four years of college life at Korea University transformed me from a very introverted person to someone more proactive and adventurous. So, I’d say, “The KUBS is a place that changes people.”    Q: Professor, having a close relationship with the KUBS, what would you like to say to all members of the business school?    A: Based on my personal experience, I am very proud of the university culture at Korea University. It allows for passion and provides various enjoyable experiences through strong bonds with seniors and juniors as a social community. However, I feel that the unique advantages of Korea University are gradually disappearing. It would be good if the business school could support activities within the school, such as club activities, that can maintain such aspects. I hope the identity of ‘fellowship’ and the tight-knit alumni network continue in the business school, which will celebrate its 120th anniversary next year. Thank you. 

On February 28th, a retirement ceremony for Professors Soo Young Kwon, Kyung Suh Park, and Jaemin Han was held at the Ahn Young-Il Hall on the 6th floor of the LG-POSCO Building. Professor Soo Young Kwon cultivated younger scholars at the KUBS for 31 years, Professor Kyung Suh Park for 24 years, and Professor Jaemin Han for 33 years. In light of their retirement, the KUBS Newspaper interviewed them to hear their thoughts.    [Interview with a Retiring KUBS Professor] - Professor Jaemin Han      Professor Jaemin Han graduated from the Department of Commerce at Korea University in 1981 and earned a Ph.D. in Business Administration from Iowa State University in 1988. After obtaining his doctorate, he worked as a senior researcher at the Industrial Science and Technology Research Institute under POSCO for about two years before joining the faculty of KUBS as a professor in March 1991.    During his tenure at Korea University, he mentored 17 Ph.D. and 18 Master’s students. Notably, he put significant effort into nurturing 'Management Information Systems' as an independent field of study within business education. He developed not only related degree programs but also various non-degree programs to cultivate a wide range of talents in information technology.    In terms of university administration, he contributed to the development of the KUBS through positions such as the Vice Dean and the Director of the Institute for Business Research and Education. He also performed necessary administrative tasks for the advancement of Korea University, including serving as the Chief of the Planning and Budgeting Office and utilizing various committees. Particularly, he was the first to plan and develop research evaluation systems like SK and IBRE, laying the groundwork for the KUBS to advance further as a research college.    His contributions extend to research and academic society activities as well. He published a total of about 50 papers in domestic and international journals and was active in numerous related academic societies, including serving as a standing director of the Korean Academy of Management and a vice president of the Korea Society of Management Information Systems. Additionally, in social activities, he served as an IT consultant for KB Kookmin Bank, Hana Bank, and the Korea Exchange, and also held the position of external director for Busan Bank, CJ O Shopping, among others. In government agencies, he contributed to national policy-making as a member of the National Science and Technology Council Policy Advisory Committee and a professorial adviser to the Ministry of Foreign Affairs and Trade's Innovation Committee. 

“Fast-Tracking to Catch Up with Corporate Giants”: Special Lecture by Kim Soo-yong, CEO of Life Oasis    On March 19, the Entrepreneurship Academy special lecture, hosted by the Startup Research Institute (Director=Jungbien Moon) at KUBS (Dean= Sang Yong Kim), took place on the KUBS Main building The Stage, located on the 2nd floor. The lecture was delivered by Soo-yong Kim, CEO of Life Oasis.      As part of the Entrepreneurship Academy lecture series, Kim, the Life Oasis CEO, took the stage. Kim focused on the topic of “Early-stage Strategies for Surviving in the Red Ocean” during his lecture. Life Oasis operates the language exchange app “Heart” and the dating app “Will You.” Kim, a growth hacker, previously worked with the English conversation app “Tutoring” and served as a growth consultant for numerous domestic unicorn companies.      Kim explained the concept of being a “first mover,” pioneering paths that no one has taken before, and the “fast follower,” mimicking and catching up with market leaders. He discussed strategies for competing against established services offered by large companies. Kim emphasized the importance of finding “uncomfortable” competitors in lucrative markets and suggested creating a business model canvas based on competitors’ reviews. Additionally, he highlighted the power of storytelling, as well as the significance of value sharing and collaboration among team members. The lecture concluded with a Q&A session.      Young-woo Choi (Economics ’19), a student who attended the lecture, stated, “In this era of rapidly changing trends and fierce competition, I was curious about the survival strategies adopted by startup companies.” He added, “Especially, the lecture was more convincing as the CEO shared his real-life experiences.” He further expressed, “It was great to gain insights as both a startup founder and an investor.”