[Korea MBA International Field Trip - Singapore] Learning Sense of International Business in Singapore, a Logistics and Financial Hub      Korea University Graduate School of Business Administration (Dean=Sangyong Kim) operates the 'International Field Trip' program for Part-time MBA students to enhance their sense of international business. Due to the impact of COVID-19, the international field trip program had been suspended, but it has resumed since 2022 to allow students to explore reputable international regions and contribute to their development as global business leaders.        Korea MBA (K-MBA) program embarked on an international field trip to Singapore from June 24th  to 28th during the first semester of 2023. Singapore is renowned as one of the key international trade and financial hubs in East Asia. For this international field trip, 138 K-MBA students and Chair Professor Taigyu Kim participated, aiming to gain valuable experiences and insights into the global business landscape.        During the international field trip to Singapore, K-MBA students had the opportunity to engage in various local programs, including △ Cultural exploration △ Company visits △ Expert lectures  △ ESG forums. These activities provided them with valuable insights into Singapore's economy, politics, society, and historical culture. Particularly, the students visited global companies such as Wood Mackenzie and Partners Group, where they had the chance to interact with professionals in the energy and finance sectors, enriching their understanding of global business.        One of the participating students, Younggeun Jung shared his impressions by saying, "As one of the 4 class leaders of this field trip, I have participated in this program in Singapore. The strong network of the K-MBA program provided us with seamless preparation for the overseas field trip to Singapore. It was a meaningful opportunity for me to grow and develop through new experiences."    

The 2023 Business School Festival, the Grand Opening of 'KUNIVERSIAL STUDIO.' Full of Unique and Memorable Experiences     The 2023 Business School Festival was successfully held on May 23rd and 24th. This year's festival expanded its scale compared to the previous year, setting up stages not only on the KUBS Main Building front lawn but also in the open space behind the Hyundai Motor Hall. The festival was divided into three main parts: △ Event Booths △ Stage Performances △ Food Stalls.        Overwhelming response from ‘Event Booths’ like theme park      On the 23rd  from noon to 5:00 PM, Booth Day took place on the KUBS Main Building front lawn. The event featured a total of 14 booths, including those from the five classes of the Business School (A, B, C, D, E) and the Student Ambassador KUBE. Each booth offered various programs such as △ KU Photobooth △ Quizzes and Mini-games △ Prize Drawings.        This year's Business School Festival was held under the theme of 'KUNIVERSAL STUDIO,' inspired by Universal Studios, the world's largest film and TV production studio and theme park. Each class of the Business School adopted creative and imaginative concepts like Jurassic World, Mario World, and Harry Potter, captivating the attention of the students. Moreover, the Business School Festival Information Booth hosted an event where students could collect stamps by visiting all the event booths and receive prizes such as an Apple Watch to attract student participation.        Passion to Excitement... Entertainment on 'Stage Performances'      From 7:00 PM to 11:00 PM, the stage performances took place in the open space behind the Hyundai Motor Hall. The performances were divided into parts featuring students' performances from various departments and special stages by celebrity guests. From 7:00 PM to 10:30 PM, a total of 10 performances were presented, including diverse dance club teams' shows, band performances, and collaborative stages by professors and students. On a special stage from 10:30 PM, LilBoi, the winner of the survival rapper program, ‘SHOW ME THE MONEY 9', successfully concluded the festival igniting the enthusiasm of the crowd.        Diverse Imaginations on 'Food Stalls'        From 5:00 PM to 11:30 PM on the 24th, the food stalls were set up on the lawn in front of the Business School Main Hall. The food stalls were a hit among the students as each class adopted various and unique themes, preparing dishes and events accordingly. They continued the concepts from the booths held on the first day, adding movie-inspired foods to their menu, creating extraordinary memories for the students.        Furthermore, the 2023 Business School Festival was especially meaningful as it received generous sponsorships from many companies. The festival was organized under the dedicated efforts of the 55th Business School Student Council, 'Film,' aiming to minimize student council fees expenditures while achieving remarkable results. 

[Executive MBA International Residency Program United States, United Kingdom] -Visiting the Center of International Finance: the USA and the UK     Business School (Dean= Sangyong Kim) Executive MBA (hereinbelow E-MBA) conducted the International Residency Program (IRP) for the 2023-Spring semester. E-MBA is a specialized master's program in business management targeting experienced managers and executives with more than 10 years of experience, aiming to nurture creative global CEOs who lead sustainable growth and innovation. IRP is a regular course of the E-MBA program where distinguished professors from foreign universities teach regular classes and participants visit local companies and learn at prestigious universities in the United States and Europe.        To start with, the IRP took place for about a week from June 24th to July 2nd, at Ivy League Yale University located in New Haven, Connecticut, USA. E-MBA classmates, including Professor Daeki Kim, participated in the program. This U.S. IRP offered various courses to teach a sense of global business, such as △Behavioral Economics: Beliefs, Goals, and Choices △Managing the Customer Decision Journey in the Digital Era △Economics of AI and Business Strategy △ESG Investing △World Economic Outlook △Corporate Governance and Business Strategy, among others.        Furthermore, the E-MBA participants had an enriching experience including the Yale University campus tour and watching a baseball game at Yankee Stadium, the home ground of the Major League team New York Yankees. They also had the opportunity to enjoy the historic Broadway musicals 'Chicago' and 'The Lion King,' immersing themselves in the local culture.        After that, from July 2nd to 8th, the IRP continued in Cambridge and London, United Kingdom. E-MBA participants, along with Professor Shijin Yoo, took part in this program. During the UK IRP, lectures were given by Professors Namsik Han, Andress Richter, and Yeonjun Kim at the University of Cambridge. They also had the chance to partake in activities such as the △Cambridge Bio-medical Campus tour, △Cambridge Science Park tour, △Visiting the Digital Catapult, and the Department for Business and Trade.        In addition, the participants enjoyed a city tour in London and watched the musical "The Phantom of the Opera," among other cultural experiences. It allowed them to achieve two goals: gaining knowledge from their courses and creating lasting memories with their E-MBA classmates at the same time.       One of the E-MBA participants, Jeongwook Sim, shared his impressions of the IRP saying, "It was the best lecture from renowned professors, some of whom are Nobel Prize candidates and among the world's top 100 scholars. It was a week of honor and joy."  

Completion of the 2023 Global ESG Forum with various discussions for a sustainable future    The International ESG Association (Chairman=Jay Hyuk Rhee, Yong Sik Ok) and the ESG Research Institute (Director=Jay Hyuk Rhee) of Korea University Business School (Dean=Sang Yong Kim) successfully hosted the "2023 Global ESG Forum" from June 24th to 29th at Singapore CREATE. This annual event, organized by the International ESG Association, featured presentations and lectures by ESG experts from around the world. The forum attracted over 200 speakers and participants from various countries, including professor Shawn Cole from Harvard Business School, representatives from the Ellen MacArthur Foundation, BlackRock, S&P Global, and esteemed professors from the National University of Singapore Business School.      The ESG Forum commenced with an opening keynote speech by Amy Khor, Senior Minister of State for Sustainability and the Environment in Singapore. The event was marked by lively discussion on the current state of ESG management in Korean companies and strategies for future implementation. One notheworthy presentation introduced the ‘Biodiversity and Nature Positive Ranking of the Top 200 Korean Companies’, accompanied by a novel evaluation methodology for biodiversity. Additionally, the forum revealed that an ESG advisory group would announce the ranking of global companies, including Korean firms, in terms of biodiversity on November 28th.    Throughout the ESG Forum, experts from various fields delved into in-depth analyses and discussions on a rage of compelling case studies, including △sustainable plastic management △ESG considerations from a consumer perspective △waste resource circulation technology and circular economy △voluntary carbon markets △net-zero and renewable energy solutions. Notably, representatives from BlackRock, the Ellen MacArthur Foundation, and Harvard Business School engaged in special dialogues on the theme of ‘Research Partnerships for a Sustainable Future.’    S&P Global, a leading investment firm, hosted special sessions at the ESG Forum focused on the present and future of impact investing, climate-linked credit, and risk solutions driving global businesses forward. Notably, the Taskforce on Nature-related Financial Disclosures (TNFD) is set to unveil its final disclosure framework in September. Moreover, the response status of the top 200 Korean companies in biodiversity and nature-positive, as reported by the International ESG Association, was a mojor highlight of the event.    The ESG Forum took place at CREATE (Collaborative Research And Technological Enterprise), a research and technology development center situated within the National University of Singapore. CREATE is known for its efforts in commercializing next-generation technologies acorss various fields. including △environment △energy △water resources △biotechnology and △design. During the forum, Mr. Jay Hyuk Rhee, Director of the ESG Research Institute a professor at Korea University Business School, who serves as the Chairman of the International ESG Association, explained the rationale behind selecting Singapore as the host city. He emphasized that Singapore has showcased exemplary leadership through fruitful collaborations with international organizations in diverse ESG management-related domains."      After the successful concolusion of the ESG Forum, a prominent event is scheduled to take place in Seoul from November 28th to 30th. This event will convene esteemed scholars from around the world who are renowned for their expertise in the ESG field, including the Secretary-General of the IUCN, representatives from Stanford School of Sustainability, the Oxford Business School, and the National University of Singapore Business School.   

We’ll be your wings: supporting newly admitted startups…Summer 2023  Entrepreneurship Practical Education ‘Startup Essential’    The Startup Institute (Director= Jungbien Moon) of Korea University Business School (Dean=Sang Yong Kim) has organized a practical on-and-offline entrepreneurship education program called "Startup Essential" to support the stabilization of early-stage startup businesses in the summer vacation 2023. The program aims to enhance the capabilities of startups in addressing financial, tax, legal, customer, and market validation challenges encountered during the entrepreneurial process. It targets move-in occupants from Iljin Center for Startup Incubation, Crimson Startup Support Foundation, and Anam Campus Town, which are all affiliated with Korea University.      On June 27th, an orientation for the participating companies was held to mark the beginning of the program. The event was attended by distinguished guests from the Startup Institute, including Director Jungbien Moon, Director Jaiho Chung, and Director Jinkyu Park as well as newly admitted startup companies. The following startups have joined as the 15th Choo-choo: △Delper △BarunPet △Block Security Chain △Space Jump △Unboxing Dreams △SPAD △Walga △Generative Lab △Photorage and △Hoxi Mobility.  To start with, the introduction of the startups admitted through the ‘2023 Startup Express Summer Season’ followed. Director Jungbien Moon of the Startup Institute expressed his excitement, stating it was a "very exciting day" to welcome the companies. He also mentioned how delighted he was to be among young individuals filled with energy and ideas, saying, "I'm curious about what you want to achieve and what you want to 30 years from now."      Among the startups, Unboxing Dreams expressed their aspiration to become a common noun in their business field, reflecting their ambition. BarunPet expressed their desire to be immediately associated with their pet-related services when people think of the pet industry. Impressed by the determined ambitions of the startup representatives, Director Moon remarked, "You will strive towards Choo-choo Day one year from now”. He further expressed his conviction that everything learned throughout the one-year process would serve as a foundation for long-term growth.  Therefore, Director Moon sincerely welcomed the new startup occupants to the Startup Institute emphasizing that one of the most valuable experiences they can have at a young age is starting and growing a company. He also highlighted the institute’s role as a platform for entrepreneurship and innovation.      Next, Director Jaiho Chung of Iljin Center for Startup Incubation provided detailed explanations about various projects and activities conducted in the Startup Institute, including PPT presentations. He especially said that "We have channels open 24/7 to communicate with the occupants, and those representatives who frequently contacted us have made progress quickly." He expressed his hope for comfortable and frequent communication on any topic, whether it be concerns, networking, or anything else.      This education program combines both online Zoom sessions and offline activities and is structured to include mentor lectures, practical training, and networking events. The mentor lectures, which will be conducted in two sessions, will focus on the common mistakes made by early-stage entrepreneurs in areas such as taxation, legal matters, patents, and business operations. Each session will feature experts in the respective fields delivering lectures. The practical training component of the program will cover topics such as team building, hypothesis testing for ideas, customer validation, revenue generation, and finance. This training will provide hands-on experience in startup operations and will span eight sessions, aiming to enhance the capabilities of the startups. Lastly, the program will conclude with three networking events, fostering networking skills and building a sense of community among the startups. 

“Don’t be afraid of pioneering a new market…” Entrepreneurship Academy Special Lecture by CEO Changwon Kim of Pet Friends    On June 7th, ‘Entrepreneurship Academy Lecture Series’ for the Spring 2023 semester was hosted by the Startup Research Institute (Director= Jungbien Moon) of the Korea University Business School (Dean= Sang Yong Kim) and took place at The Stage on the second floor of the KUBS Main Building.  In this special lecture, Mr. Changwon Kim, the CEO of ‘Pet Friends’ served as the speaker, accompanied by Sooho Park, a journalist from Maeil Economy as the host. ‘Pet Friends’ is the foremost pet commerce platform in Korea, providing a wide rage of products services for pets and their owners. Notably, CEO Kim is also an alumnus of the KU Graduate School of Biomedical Sciences. The lecture took the format of a talk show, featuring CEO Kim and Mr. Park engaging in a conversation. Throughout the session, CEO Kim shared his entrepreneurial journey, discussing the process of founding, developing, and ultimately selling his company.      Since its establishment in 2015, "Pet Friends" has achieved remarkable success. Within four years of starting its e-commerce operations in 2017, the company achieved a monthly revenue of 8 billion Korean won. CEO Kim’s journey towards this achievement involved various preparatory processes and entrepreneurial endeavors.   In his early twenties, CEO Jun transformed his personal one-on-one part-time tutoring into a physical education private academy. He expanded the academy by hiring instructors and establishing multiple branches, thereby creating a unified brand. Additionally, he embarked on four startup ventures and successfully exited each one. Notable among these ventures were targeting young women in the food service industry and starting an SNS advertising agency through Facebook.  Throughout his entrepreneurial journey, CEO Kim emphasized the importance of prioritizing the customer. While financial success was a goal during his business ventures spanning about 20 years, he firmly believed that placing the customer at the forefront was ultimately paramount.  When questioned by the host about his approach to startups, CEO Kim emphasized the significance of selecting a growing market. He stated, "I believe my willingness to venture into new industries without fear was instrumental," further expressing his preference for forgoing a distinct path rather than entering crowded and competitive markets.      With the emergence of the era of ten million pets, CEO Kim and his team at Pet Friends pondered on strategies to enhance customer repurchase rates. They found the solution in customer customization, where pet-related information is collected to offer personalized product recommendations. The company’s fast delivery services, specifically targeting single-person households raising pets, also played a significant role in their success, leading to an impressive 80% repurchase rate.   CEO Kim highlighted the company’s commitment to a data-driven approach as it grew. Despite investor pressure to influence management style, they remained dedicated to thoroughly analyzing customer data and metrics. Regular meetings with employees were also a consistent practice, and the company implemented selective benefits instead of universal ones to enhance operational efficiency.  Mr. Kim assumed the role of CEO at Pet Friends from 2015 to 2021 before deciding to sell the company. When questioned about the reason for the sale, he pointed out the relatively low pace of change in the perception surrounding pets.  Despite of success of Pet Friends as a pet commerce platform, Mr. Kim expressed that the shift in people’s perception of pets had been slower than anticipated. He stated, "By redirecting efforts towards other fields where change can be more impactful, greater achievements can be made.” Following the sale of Pet Friends, he has actively engaged in startup investments.      In his concluding remarks, Mr. Changwon Kim graciously shared advice for aspiring entrepreneurs. He emphasized the importance of avoiding excessive reliance on self-development books about successful entrepreneurs. Instead, he encouraged entrepreneurs to direct their attention towards the market and customers directly in front of them. He further advised utilizing diverse methods, such as group-focusing interviews, for effective market research, rather than relying solely on surveys.   The lecture wrapped up with an enthusiastic Q&A session allowing students to engage directly with Mr. Kim.