Grace of Teacher is Like the Sky~ 2024 Senior Faculty Appreciation Event    On May 20th, Korea University Business School(Dean= Sangyong Kim), hosted an appreciation event for emeritus professors in celebration of Teacher's Day. The event, held annually by the KUBS to honor the grace of teachers, took place at the Ahn Young-Il Hall in the LG-POSCO Building.      The event was attended by Dean Sangyong Kim, Associate Dean Jaeho Jung and Kwanghyun Kim,  Janghyuk Lee, and professors including Hojin Kang, Wansoon Kim, Dongchul Kim, Hyunggoo Moon, Myungseop Park, Soosik Shin, Kwanhee Yoo, Manwoo Lee, Jangrro Lee, Jingyu Lee, and Kyuseung Hwang.    Associate Dean Janghyuk Lee led the ceremony. Dean Kim Sangyong Kim expressed his gratitude, saying, "On Teacher's Day, we are honored to host our senior professors whose passion and dedication have shaped the current KUBS." He also updated the attendees on the recent developments within the school, highlighting, "In terms of the IRP, top global business schools are now coming to Korea University's Business School, which is unique in Korea."      Following the speeches, the faculty and senior professors enjoyed a lunch and informal discussions. The event concluded with a group photo session.   

ESG Yesterday and Today, and the Paris Agreement… ESG Lecture Series by UN Global Compact Korea Secretary-General Yeoncheol Yoo   On April 30, the Korea University Business School (Dean=Sangyong Kim) held an ESG Lecture Series (hereafter referred to as the lecture) at Ahn Young-Il Hall in the LG-POSCO Building. This lecture was hosted by the ESG Research Institute (Head=Jaehyuk Lee) affiliated with the Korea University Business School, and the speaker was Yeoncheol Yoo, Secretary General of the UN Global Compact Korea. He is also a former Climate Change Ambassador and a seasoned expert who has studied climate change and climate crises for decades.      First, Head Jaehyuk Lee briefly introduced the ESG Research Institute. He highlighted, "The ESG Research Institute is the first of its kind in the country to study ESG at a university level," and added, "We are conducting various seminars and lecture series on global ESG management, which has become a significant topic worldwide."      Before delving into the main lecture, Secretary General Yoo presented several intriguing questions to the audience: Why did the global ESG boom arise around 2020 despite ESG's long history? What are the climate-related Paris Agreement and the 2050 carbon neutrality goal? What roles do companies play in achieving these carbon neutrality goals and ESG management? Is ESG merely a trend or a marketing tool?    Secretary General Yoo began by discussing the history of ESG and the recent ESG boom. The concept of ESG originates from sustainable development, which first appeared in the document "Our Common Future," published by the World Commission on Environment and Development in 1987. This document introduced the idea of sustainable development, encompassing environmental and development issues. In 1992, global representatives agreed to promote sustainable development through the 'Rio Declaration' at the United Nations Conference on Environment and Development.      ESG first appeared in the 2004 UN Global Compact report titled "Who Cares Wins." Following this, former UN Secretary-General Kofi Annan emphasized the necessity of responsible investment that considers environmental, social, and governance factors, leading to the launch of the UN Principles for Responsible Investment (PRI) in 2006. Secretary General Yoo explained, "The subsequent establishment of the Paris Agreement on climate change (2015), the setting of carbon neutrality goals (2020), and the trend of stakeholder-centric approaches through business roundtables have closely connected with the global ESG boom."    He then explained the Paris Agreement. Unlike the previous climate-related Kyoto Protocol, which emphasized historical responsibility and required developed countries to reduce greenhouse gas emissions, the Paris Agreement emphasizes the participation of all parties, highlighting shared responsibilities across past, present, and future. While the Millennium Development Goals focused on eradicating poverty in developing countries, the Paris Agreement emphasizes the restoration of social communities and the global ecosystem through the participation of all countries and stakeholders.    Secretary General Yoo assessed the Paris Agreement as the establishment of a new climate regime, stating, "Responding to climate change is an irreversible trend for the international community, and the Paris Agreement represents a sustainable expansion of the Kyoto Protocol in terms of time and space." He then sequentially presented the 2050 carbon neutrality goal, the roles of ESG companies, and their response strategies.      Finally, Secretary General Yoo spoke about the future prospects of ESG. He remarked, "The necessity of ESG management will not disappear and is expected to continue steadily through 2024." However, he noted that it might slow down compared to the past due to various adverse circumstances such as elections. He advised, "For a transition to ESG management, it is crucial to simultaneously implement a dual strategy based on the concepts of inclusiveness and diversity." 

Diverse Advice from Students to Students… Business School X E-MBA Mentoring Day    On May 16, the Business School (Dean=Sangyong Kim) hosted the ‘Business School X E-MBA Mentoring Day’ (hereafter referred to as Mentoring Day) at the LG-POSCO Building. This event, organized by the E-MBA student council, was designed to provide KUBS students with insights from E-MBA students who are currently working as accountants, entrepreneurs, executives, and CEOs in large and international companies. The mentors and hosts for the Mentoring Day were as follows: ▶ Sangbeom Kim, CEO of Entro Co., Ltd. (Host) ▶Yongjin Shin, Deputy Manager at Industrial Bank of Korea ▶Jungwook Sim, CEO of Greenwich Private Equity ▶Joonyoung Kim, Country Director at Nium ▶Hyungseok Han, CEO of Vegistar Co., Ltd. ▶Yong Kang, CEO of DaeRook Co., Ltd. ▶Sungil Hwang, HR Manager at Samsung.      First, Taejin Kim, the president of the 21st E-MBA cohort, took the stage on behalf of the E-MBA students. He stated, “We have been contemplating how we, as senior members of society, can contribute to the students.” He explained that by providing insights into entrepreneurship, career paths, and corporate culture, they hoped to assist students in making informed career choices and building valuable relationships. He also mentioned that it was a great opportunity for the E-MBA students to gain energy from the younger generation and learn about the needs of the MZ generation as CEOs. He expressed his hope that the strong network between undergraduate and E-MBA students would continue.      Next, Professor Daeki Kim, the academic advisor of the 21st E-MBA cohort, represented the Business School on stage. He expressed his pride in the E-MBA students for organizing such a meaningful event, noting that there had never been an instance in Korea University’s history where students mentored fellow students in this way. He remarked, “It is truly commendable and heartwarming to hear about the networking between our proud Business School students,” and added that May 16, 2024, would be remembered as a significant day. Finally, he thanked Associate Dean Seongwoo Kwon for recommending the student council and everyone who supported this first step, hoping for continued support to open new chapters.    The main Mentoring Day session followed. Led by host Sangbeom Kim, the session involved answering pre-submitted questions from Business School students. Questions were written on post-it notes, and answers were provided, with additional questions taken from the audience during the session.      Addressing the fear of entrepreneurial failure, mentor Hyungseok Han stated, “I was less afraid and overwhelmed because I ventured into entrepreneurship without knowing much about it. Nowadays, there is a lot of support from the government and other sources, so if you are interested in starting a business, it is easier to do so.” He also advised that even small-scale startups would keep one busy enough to not have time for fear.      After the first part, students and mentors moved to Ahn Young-Il Hall for a networking session, marking the successful conclusion of the Mentoring Day. Additionally, the E-MBA students demonstrated their strong network by donating a 2 million won scholarship to the Business School student council.    

"See You Again on Campus!"… 2024 Spring Korea University Business School Regular Campus Tour and Youth Meeting Day Held   On May 18th, the Korea University Business School (Dean=Sangyong Kim) hosted the 2024 Spring Regular Campus Tour and Youth Meeting Day (hereafter referred to as the event) at LG-POSCO Building and Hyundai Motor Hall, among other locations. This event is organized by the KUBS Student Ambassadors (KUBE) and is aimed at high school students nationwide.      The event featured several activities: △Introduction to Korea University Business School (KUBS) △Introduction to 7 Majors & 3 Tracks system △Campus tour △Mentoring session with KUBS students. Initially, KUBE introduced the KUBS buildings, scholarship system, international exchange agreements, and majors. A quiz followed the introduction, with Korea University’s mascot ‘Hoi’ keyrings awarded as prizes.    The campus tour covered the main Business School buildings, including the main building, LG-POSCO Building, and Hyundai Motor Hall, as well as the Humanities campus. Students were divided into groups and guided around the campus by KUBE members. During the mentoring session at Hyundai Motor Hall, there was a Q&A session about career paths and school life. KUBE provided detailed answers to questions about managing school records, overcoming slumps, and university life.      Junghwan Kim (17, Gaepo High School), who participated in the event, shared his thoughts, saying, “The school was more impressive than I expected, and the ambassadors explained everything kindly, making it a meaningful experience.” Minseo Kim (18, Bupyeong Girls' High School) added, “Through this event, I gained a better understanding of the Business School, and the campus tour allowed me to appreciate the beautiful campus of Korea University, which was very beneficial.” Jungjun Hwang (Business '23), a KUBE student ambassador who organized the event, remarked, “As always, it was truly meaningful, and I felt proud to be able to help the students.”      The Korea University Business School Regular Campus Tour and Youth Meeting Day are held once each semester, and applications can be made through the Korea University Business School Student Ambassadors KUBE website (biz.korea.ac.kr/kube).     

Startup Train, Continues in 2024! 2024 Spring CHOO CHOO DAY   Hosted by the 'Startup Institute' (Director: Moon Jungbin), an affiliated organization of Korea University Business School (Dean: Kim Sang-yong), the startup demo day '2024 Spring CHOO CHOO DAY' (hereafter referred to as CHOO CHOO DAY) was held on May 10th at the LG-POSCO Business Hall SUPEX Hall. This event was supported by the Korea University LINC 3.0 Project Group and the Korea University Anam Campus Town. CHOO CHOO DAY aims to revitalize the campus-centric startup ecosystem and strengthen the investment attraction capabilities of student startup companies. The 'CHOO CHOO' signifies the sound of a train starting energetically, symbolizing the support for tenant companies to secure initial investments and move to the next stage.       Participating teams at this year's CHOO CHOO DAY included: △ 'Build Now,' an all-in-one solution for pre-verification of partner companies for general construction companies △ 'Pet Night,' a service for preparing for and caring for pets' farewells △ 'Today's AI,' a virtual CS employee that responds to customers 24/7 △ '1click 100moods,' an AI solution that prevents various problems in the interior design process and saves time/costs △ 'Toaster Finance,' a blockchain-based DeFi investment platform. The event also featured panelists such as Moon Jungbin, Director of the Startup Institute, Park Jinkyu and Kim Youngkyung, Directors of the Startup Station Center, and other Korea University staff, as well as external guests like Kim Seunghyun, Director of Shinhan Venture Investment, Lee Changyoon, Team Leader of the Youth Startup Foundation, Kang Kihyun, Partner at Fast Ventures, Jeong Inoh, Team Leader at POSTECH Technology Holdings, and Yang Hyungjun, Team Leader at Base Investment.    The event began with an opening address by Kim Youngkyung, Director of the Startup Station Center, who introduced the ideology of "Pay it forward!" emphasizing the growth of efficient altruism. Dean Kim Sang-yong opened his welcome speech by explaining the focus on nurturing startups, stating, "Innovation and change are essential in the challenges for the future."      Dean Kim Sang-yong further added, "We send our interest and support to the five teams that pursue the common good of our society through entrepreneurship and management. The Business School will actively support not only Korea University but also many young entrepreneurs outside the university by opening wide windows of opportunity." He concluded his welcome speech by expressing his hope to join the journey of today’s startup teams making the world a better place.       Next, Stipop CEO Park Kiram took the stage as an open mic speaker. Stipop is a marketplace where emoticons can be sold on various chat apps and has received investments from Y Combinator and Snapchat. CEO Park Kiram highlighted three key points to be mindful of when starting a startup: ① Focus on making products and talking to customers ② Hire slowly, fire quickly ③ Do things that can’t scale up first.      The presentations and Q&A sessions of the five participating teams were conducted sequentially. Before the closing, Moon Jungbin, Director of the Startup Institute, took the stage. Director Moon, in his closing speech, told the audience, "I hope you become the entrepreneurs presenting on stage," supporting many young people's startup ventures.     

The Start of Managing Recurring Revenue with KPI…Crescendo Equity Partners' Sungmin Lee at Entrepreneurship Academy Lecture Series   On April 9, the first-semester Entrepreneurship Academy, organized by the Startup Institute (Director: Moon Jungbin) of the Business School (Dean: Kim Sang-yong), hosted its second lecture of the series with Sungmin Lee, Director of Crescendo Equity Partners, as the speaker. Sungmin Lee provided insights essential for startup entrepreneurship.    First, he began by discussing the scale of startup investments in Korea in 2023. The total number of startup investments in the country was 1,429, a 36% decrease from the previous year (2,236). The investment amount saw an even steeper decline, dropping by 52.8% from 14.9 trillion KRW to approximately 7.03 trillion KRW. Sungmin Lee attributed this saying “There seems to be a significant reduction in late-stage investments, which typically involve larger amounts.” However, he encouraged early-stage startups by stating, "Despite the so-called startup winter, there are still ample opportunities for early-stage startups."      He then presented specific figures related to investment items. Among the top 25 companies that received more than 10 investments in 2023, the highest number of investments was in the bio-medical sector. Second was game content, and then enterprise and security-related startups. The investment amounts reflected the same trend. Sungmin Lee advised, "Identifying where investment numbers and amounts are concentrated can help guide your startup endeavors."    Next, he discussed investment regions. Last year, Seoul attracted the most investment, accounting for 66% of the total investment amount. He pointed out that “benefiting from the environment in Seoul can be advantageous,” emphasizing “not only physical access but also the importance of leveraging the network of startup entrepreneurs.”      Lee offered extensive advice on securing Series A funding and shared his views on what private equity and late-stage investors consider important. He highlighted the concept of ‘recurring revenue,’ stating, “Late-stage investors highly value the visibility, predictability, and stability of revenue. Subscription services like Netflix and Coupang received significant investments because they demonstrated revenue predictability and stability even after 10 years.” He emphasized the importance of tracking KPIs as a tip for generating recurring revenue, saying, “Companies that effectively track KPIs are better at generating recurring revenue. This can maximize corporate value and attract more investments.”      In conclusion, Sungmin Lee gave the following advice to aspiring entrepreneurs: “It’s okay to fall forward as long as you don’t fall backward,” “Focus on managing measurable indicators by paying attention to KPIs,” “Don’t rely solely on government projects,” and “Check the TAM (Total Addressable Market) to ensure you are in a growing industry.”