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[SK Awards Interview] Professor Minjae Koo: In an Era of Uncertainty, Diverse Cultural Backgrounds

[SK Awards Interview] Professor Minjae Koo: In an Era of Uncertainty, Diverse Cultural Backgrounds Improve Forecast Accuracy Uncertainty does not affect everyone equally. As U.S. firms faced growing import competition from China, most analysts saw their forecast accuracy decline. Yet some were less affected than others. Professor Minjae Koo focused on precisely that difference. His research suggests that the cultural context behind the numbers — and analysts’ own cultural backgrounds — can shape how information is processed in capital markets. Professor Koo, who joined Korea University Business School (KUBS) in 2025, received his second SK Award for the study, “Forecasting Under Uncertainty: Import Penetration and Analysts’ Cultural Advantage.” The study empirically examines how international competition affects the role of information intermediaries. In an era when geopolitical tensions have become a daily reality, the research shows that diversity can be more than a value — it can also provide a tangible competitive advantage. The following is an interview with Professor Koo about the research and the award. Q1. Congratulations on being recognized with the SK Awards. Could you share your thoughts on the award? First, I would like to express my sincere gratitude for this meaningful award. It is a great honor to have my research recognized at Korea University. I would also like to take this opportunity to extend my deep appreciation to my co-authors, who worked with me on this research, and to everyone who supported our work. Q2. Could you briefly introduce the research for which you received the award? This study analyzes how Chinese import penetration affects the earnings forecast accuracy of financial analysts covering U.S. firms. In particular, we examined whether Chinese analysts have an informational advantage in such an environment. Our empirical analysis shows that the more U.S. firms were affected by Chinese import penetration, the more analysts’ forecast accuracy declined overall. However, the decline in forecast accuracy was substantially smaller among Chinese analysts. This suggests that cultural background and contextual knowledge can improve analysts’ ability to process information in complex international competitive environments. Q3. What motivated you to begin this research? The international competitive landscape has shifted rapidly due to recent developments such as the U.S.–China trade tensions and the restructuring of global supply chains. I became interested in whether these macro-level changes might affect not only firm performance and corporate strategy but also how information is produced in capital markets. The study began with the question, “How do international economic shocks change the role of information intermediaries?” The research ultimately showed that cultural background can play an important role in complex international environments. Q4. What impact do you expect this research to have on society or industry? This study demonstrates the value that cultural diversity and expertise can bring to financial markets as globalization deepens and geopolitical risks increase. For companies and financial institutions, the findings highlight the importance of professionals with diverse cultural backgrounds and international perspectives, alongside strong technical capabilities. From a policy perspective, the study also highlights the role of human capital in reducing information asymmetry amid rising international tensions. Q5. Since joining KUBS in 2025, you have already received the SK Awards twice. Is there a secret behind these consecutive achievements? I wouldn’t say there is any particular secret. I believe these achievements were made possible by strong teamwork with my co-authors and constructive feedback from reviewers and editors. Through this study, I was reminded once again that research is not a solitary journey, but a collaborative process that becomes increasingly refined through diverse perspectives and constructive critique. Q6. Many students today are interested in pursuing careers in accounting. What message would you like to share with them? Accounting is no longer just a discipline that records numbers. In class, I often refer to Nietzsche’s famous statement: “There are no facts, only interpretations.” I understand this to mean that even identical numbers can be viewed and interpreted differently through various lenses. In today’s increasingly dynamic and fast-changing world, I believe such interpretation can become even more complex. Therefore, I would encourage students interested in accounting careers — whether in financial accounting, auditing, or management accounting — to broaden their horizons. They should explore not only fields directly connected to accounting, such as international politics and ESG, but also subjects that may seem less related at first glance, including literature and philosophy. Doing so can help them develop stronger intuition and critical thinking skills. I believe a humanities-based perspective can be very helpful when making broader, more strategic decisions. About the Paper : In 2026, “Forecasting Under Uncertainty: Import Penetration and Analysts’ Cultural Advantage,” co-authored by Professor Minjae Koo of Korea University Business School, was accepted for publication in the Journal of International Business Studies. The paper also earned Professor Koo an SK Award. The study examines how analysts’ earnings forecast accuracy shifts as U.S. firms face mounting import competition from China and identifies cultural background as an important factor in information processing under complex international competition. The milestone is especially meaningful as it marks Professor Koo’s second SK Awards since joining KUBS in 2025. “Forecasting Under Uncertainty: Import Penetration and Analysts’ Cultural Advantage” This study empirically analyzes how import competition from China affects the earnings forecast accuracy of analysts covering U.S. firms. The analysis finds that analysts’ forecasts grew less accurate as U.S. firms faced higher exposure to Chinese import competition. However, Chinese analysts were relatively less affected by this negative impact and delivering more accurate forecasts than their non-Chinese peers. This informational advantage was even more pronounced when analysts had strong industry expertise or extensive experience covering Chinese firms, and it became stronger during periods of intensifying U.S.–China tensions. Furthermore, the study finds that investors recognized these differences and responded more strongly to forecasts issued by Chinese analysts. By demonstrating that cultural background and expertise can serve as important informational assets in international competitive environments, the study offers new insights into the role of information intermediaries in global capital markets. ▶ View the full paper: “Forecasting Under Uncertainty: Import Penetration and Analysts’ Cultural Advantage” KUBS Student Reporter Reporting and Photography by Yeontae Kim

2026.08.14 Views 2057

[March 2026 SK Awards] Research Summary by Professor Kyuhan Lee

Professor Kyuhan Lee of Korea University Business School received the SK Awards for his research proposing an AI model that detects fake news by analyzing human “intent” embedded in text. Acceptance Remarks by Professor Kyuhan Lee I am honored to receive the SK Award once again. As a researcher, I have always considered it my responsibility to publish in top academic journals, and I have worked diligently toward that goal. Receiving this additional recognition from the university makes it even more meaningful. I am truly grateful for programs such as the SK Award that provide incentives for researchers’ efforts, and I will continue striving to share more of my research with the broader academic community. Research Overview Paper Title : Intent-Driven Machine Learning for Fake News Detection: A Referential Domain Adaptation Approach Journal : Production and Operations Management Publication Date : January 2026 Summary of Key Findings : Unlike conventional research in business administration, this study involves the direct development and testing of an AI model. Specifically, it proposes a novel AI model from a sociological perspective that can automatically detect and handle fake news. In particular, the model more accurately estimates the probability that a given news article contains false information by leveraging human intent inferred from the text. Previous AI research has often struggled to accurately capture intent in text due to limited data. This paper addresses this limitation by proposing and applying a method that utilizes auxiliary data not directly related to intent recognition to infer the intent of news content. When applied in real-world scenarios, the model developed using this methodology produced significantly superior results compared to models built on advanced language models such as GPT. The findings of this study suggest that developing computational algorithms grounded in social science theory can lead to superior outcomes, and is expected to contribute to the advancement of future research in this area. ▶ View the original paper: Intent-Driven Machine Learning for Fake News Detection: A Referential Domain Adaptation Approach

2026.04.08 Views 1696

[2026 March SK Awards] Research Summary by Professor Daehoon Noh

Professor Daehoon Noh of Korea University Business School received the SK Award for his research on the impact of competition between ride-sharing platforms and autonomous robotaxis on the market and social welfare. Acceptance Remarks by Professor Daehoon Noh I am sincerely grateful that this research has been published in Management Science and has received the SK Paper Award from Korea University Business School. This paper analyzes the impact of competition between two distinct business models—ride-sharing platforms and autonomous robotaxis—on the market and social welfare. I would like to express my gratitude to my co-authors and fellow researchers who contributed to this work, as well as to the university for providing a supportive research environment. Moving forward, I will continue to pursue my research with dedication while exploring, from an objective perspective, the changes in the industrial ecosystem brought about by technological innovation. Thank you. Research Overview Title of Paper : Evolution of Ride Services: From Ride Hailing to Autonomous Vehicles Journal : Management Science Publication Date : January 26, 2026 Summary of Key Findings : This paper analyzes the competition between platform-based ride-hailing (RH) firms and vertically integrated autonomous vehicle (AV) robotaxi firms. The key difference between the two models lies in the vehicle supply model. AV firms must invest in and own vehicles upfront, thereby fixing capacity through significant capital investment. In contrast, RH firms can flexibly adjust vehicle supply without incurring sunk costs by adjusting the revenue-sharing rate with drivers. The study finds that RH firms have a strong strategic advantage due to the flexibility of their platform-based business model. The main findings are as follows : First, when customers are less sensitive to waiting time, RH firms dominate the market even if they face a cost disadvantage. By credibly threatening price reductions, RH firms deter excessive investment by AV firms, ultimately achieving shorter waiting times, higher market share, and higher profits. Second, when a new AV firm enters an existing RH monopoly market, a paradoxical outcome may occur: despite increased competition, total vehicle supply decreases and customer waiting times increase. Third, when an inefficient AV firm enters a market where customers are highly sensitive to waiting time, incumbent RH firms strategically reduce vehicle supply to avoid intense competition. As a result, customer waiting costs increase, leading to a decline in overall social welfare. In conclusion, this study demonstrates that a decentralized platform model without asset ownership has an advantage over a capital-intensive AV model. It therefore suggests that regulators should be cautious about indiscriminately subsidizing or facilitating the entry of inefficient robotaxi services solely because they are based on new technology.

2026.04.08 Views 1782

[March 2026 SK Awards] Research Summary by Professors Hyun Seok Lee and In Joon Noh

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

2026.04.08 Views 1647

KUBS Faculty News (Jan–Mar 2026)

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

2026.04.08 Views 1782

Research Highlights: March 2026 SK Awards Recipients

[Research Highlights: March 2026 SK Awards Recipients] Showcasing Korea University Business School’s Research Excellence through the SK Awards The faculty of Korea University Business School has once again demonstrated its world-class research competitiveness through the 2026 SK Awards. The SK Awards are presented to authors of papers published in top-tier international journals listed in the “SK Awards Journal List”, designated by Business School. In the March SK Awards, the recipients included Professors Baeho Kim, Daehoon Noh, Kyuhan Lee, Angela Aerry Choi, Thummim Cho, and Hyun Seok Lee and In Joon Noh. In particular, Professors Hyun Seok Lee and In Joon Noh were jointly recognized for their paper titled “Learning in Recovery from Disruption: Empirical Evidence from the U.S. Drug Shortages.” The awarded studies span diverse fields such as finance, platforms, digital content, and artificial intelligence. Through data-driven analysis, these works address real-world market and social issues while offering meaningful practical implications. The Business School plans to further strengthen its global competitiveness by continuing to pursue research that combines academic rigor with solutions to real-world problems. Detailed research summaries for each professor are available in the individual articles. View Detailed Research by Each Awarded Professor Professor Baeho Kim | Long-History Principal Component Analysis in a Dynamic Factor Model with Weak Loadings → [Link] Professor Daehoon Noh | Evolution of Ride Services: From Ride Hailing to Autonomous Vehicles → [Link] Professor Kyuhan Lee | Intent-Driven Machine Learning for Fake News Detection: A Referential Domain Adaptation Approach → [Link] Professors Hyun Seok Lee · In Joon Noh | Learning in Recovery from Disruption: Empirical Evidence from the U.S. Drug Shortages → [Link] Professor Thummim Cho | The Present Value of Future Market Power → [Link] Professor Angela Aerry Choi | To Split or to Merge?: How Partitioning Affects Consumption and Engagement with Digital Content → [Link]

2026.04.08 Views 1661

[2026-1 New Faculty Interview] Professor Jae-Young Kim on Reading the Meaning Behind Numbers

[2026-1 New Faculty Interview] “Accounting is the Language of Business” — Professor Jae-Young Kim on Reading the Meaning Behind Numbers Beginning in the spring semester of 2026, Professor Jae-Young Kim has joined Korea University Business School. Having taught at Korea University for many years and built close relationships with students, Professor Kim uses this appointment as an opportunity to reemphasize the essence of accounting education. She argues that accounting should not be understood merely as a technical skill for preparing financial statements, but as the “language of business” through which one can understand a company’s condition and potential. Professor Kim, who has been recognized for her teaching excellence by receiving the Seoktap Teaching Award multiple times, hopes that students will come to see accounting not as a difficult or tedious subject, but as an engaging field where they can think critically and ask questions. From the ability to interpret numbers, to an attitude of approaching fundamentals through inquiry, to the intuition for understanding accounting information, Professor Kim emphasizes a holistic approach to learning. In this interview, Professor Kim shares her perspective on effective teaching and the future direction of accounting education. Q. You have been teaching at Korea University for some time and have recently been appointed as a professor. Could you share your thoughts on your teaching experience so far and your feelings about this appointment? It is personally very meaningful for me to begin my role as a professor at Korea University, which is where my academic journey began. Through teaching students, I find that I often learn even more myself, and it continually makes me want to become a better teacher. I hope that my research and practical experience so far can contribute, even in a small way, in that direction. Accounting classes are often taught from the perspective of those who “produce” accounting information, but I believe that many students are more likely to be in positions where they use that information in the future. Therefore, rather than stopping at the preparation of financial statements, I believe it is more important to think about what those numbers actually mean and how they can be interpreted and used. If more classes can provide opportunities to truly experience this aspect, it would lead to more meaningful learning, and that is the direction I would like to take in my own teaching as well. Q. You have received high evaluations for your teaching, including multiple Seoktap Teaching Awards. What do you think makes a “good lecture” from a student’s perspective, and what teaching philosophy do you consider most important? Above all, I hope that students enjoy learning accounting. I believe a good lecture is not simply a way of delivering knowledge, but rather a dialogue in which the instructor and students exchange questions and responses and build understanding together. For students to naturally participate in class and expand their thinking, both the instructor and the students need to actively engage in that dialogue—and for that to happen, the conversation has to be enjoyable. If students feel that “a class I expected to be difficult and boring is actually enjoyable,” I believe the lecture becomes much more effective. With that in mind, I try to bring energy and a sense of enjoyment into the classroom myself—though, to be honest, it’s not always easy. Q. Many students have already taken your classes. For those who will take your courses in the future, what can they look forward to, and what key takeaways can they expect? There is a well-known phrase: “Accounting is the language of business.” Warren Buffett once said this in an interview, and I think it captures the essence of accounting education very well. If language is ultimately a tool for communication, then accounting should not stop at learning numbers and rules; rather, it is more important to understand the meaning embedded within them. Therefore, in my classes, I aim to spend a great deal of time interpreting what the numbers in financial statements are actually saying. Managers use accounting information to explain what state their company is in, what it is doing well, and what possibilities lie ahead. I hope students can develop the ability to read the stories behind numbers through this “language” of accounting. Q. For students considering a career in accounting, beyond simply preparing for exams, what attitudes or experiences are essential for developing practical accounting skills? I hope students are not too afraid to ask questions. I believe the process of trying different things itself is important. We expand our thinking through questions, share different perspectives, and solve problems along the way. Especially in today’s environment, where AI can easily generate answers, I think it is important not to take those results at face value, but to question and verify them. Students should be able to ask whether there are errors or limitations in those answers. Ultimately, more than the technology itself, the ability to ask questions that get to the heart of the issue is becoming increasingly important. I believe this kind of ability is built gradually through asking questions, engaging in discussion, and sometimes being wrong. In that sense, university is a great environment to ask questions and try new things, but students may sometimes feel hesitant to do so. Professors do not have all the answers either. By thinking together and working through problems, we learn from one another—and that ultimately leads to better learning and better decisions.

2026.04.07 Views 1781