KUBS Startup Station holds a special lecture on tax accounting for startups     On December 28 (Tuesday), KUBS Startup Station held a ‘Startup Tax Accounting Special Lecture’ as a year-end special lecture. It was hosted by the Seungmyeongho Entrepreneurship Education Center of Startup Station and was held by Korea University Crimson Startup Support Group and sponsored by the NRF National Research Foundation. Partner accountant at Samil Accounting Firm, Jin Beong-guk attended as a speaker, and the event was held online in accordance with quarantine rules.     Jin gave a lecture on the topic of “Startup tax accounting knowledge that you must attain before the end of the year.” He said, “Our company’s Unicorn Center consists of a total of four departments: Tax headquarters, Audit headquarters, Deal headquarters, and Consulting headquarters. If you need any help, please contact us through the Unicorn Center,” and began the lecture. Jin, who is affiliated with the Tax Headquarters, gave lectures mainly on tax education. He explained that startups face the problem of shortage of manpower in the early stages of establishment, a period of lack of funds within one year after establishment, and difficulties in business expansion within two to three years after establishment.     First, he explained the stock option issuance and execution process in detail. In this process, Jin gave detailed information about △issuance grounds, △issuance targets, and △people who could not get issued according to the law. He also added more explanation of the issuer and exerciser regarding the timing of the transfer of the stock option.   Next, Jin mentioned “taxation issues that arise when receiving investment through capital increase at the time of getting investment.” He said that in this case, the principles applicable to related parties for tax purposes and non-related parties are different. In addition to this, Jin explained the ‘tax deferral requirements of the tax deferral system’, citing the Restriction of Special Taxation Act.   Jin concluded the lecture by emphasizing the tax-related experience and stating that if there are any questions or tax-related problems, they should seek help through the Unicorn Center of Samil Accounting Corporation.   Editor l Yoon Seok-woo (Media 18)  

Celebration party for the publication of ‘Social Values and Sustainable Management in ESG Era’ A celebration informing the publication news of ‘Social Values and Sustainable Management in ESG Era’ was held on December 8th, at 5p.m. at the SUPEX Hall of Korea University LG-POSCO Building. This book was published as a main part of the SK Social value-based education project and contains the business management expertise by the KUBS authors.     Dean of KUBS, Johngseok Bae relayed words of introduction saying, “This book deals with the 7 specific fields of the KUBS, past, present, and future which is related to all fields in management, and also does not stop at present situation or cases but deals with the related topics and theoretical, philosophical grounds in depth.” and expressed gratitude, saying “I am very grateful to our professors in various fields of study who put in great effort writing this book together for a long time.”   On this day, authors including Johngseok Bae, Dean of KUBS, Jaehyuk Lee, ESG Research Center Director, Professor Daesoo Kim, Professor Chansu Park, Professor Woochan Kim, Professor Dongseop Lee, Professor Soongsoo Han, and Professor Jungbien Moon, Professor Jaegu Kim and 40 KU students attended the event.     Following the introduction, Professor Jaegu Kim presented a KEYNOTE SPEECH on the topic of Social Values and Sustainable Management of ESG. Professor Kim emphasized that what interested parties of a company demand to the company are ‘social issues,’ and said, “Companies exist in a enormous system, which is our environment, and as the current interested parties share different social values from the past, ESG is becoming more important.” To the question that asked which of ESG is the most important, professor Kim answered, “E(Environment) is the most urgent, S(Social) is felt most easily, G(Government) is the most fundamental problem.” He also added, “A manager is the one that not only harvests fruits, but also sows the seeds.” And delivered the keynote message, saying “A manager should keep in mind that one must think deeply about what values to present to customers and interested parties with partner corporations.”     Relating to the KEYNOTE SPEECH, Professor Jaegu Kim, Professor Jaehyuk Lee, and Professor Soongsoo Han participated in a panel debate. On the topic of ‘What is the difference between the international and Korea’s evaluation methods, and how should Korea proceed forward?’, Professor Kim answered that “there is cultural difference, thus a very large gap between the situation in Korea and the international situation.” And that “considering this, recently K-ESG was presented, and Korea is utilizing this.” He also presented the vision for future, saying “from now on, corporations must endure more fastidious evaluation standards and improve on a corporate basis.” The celebration party for publication ended in success with a Q&A session participated by students and sharing of diverse opinions on the topic of ESG.   Editor |  Younghee Chung (Media ’20) Photo | Minsu Kim (Media ’20)

Executive MBA 17th Alumni Donation Ceremony and Alumni Presidency Transfer/Inauguration Ceremony   On December 27(Mon), the 17th class of EMBA alumni Donation ceremony and the inauguration ceremony of the alumni president were held. The above event was held online in accordance with the quarantine rules, and 15 alumni members including Bae Johngseok, Dean of Business School, Ahn Jeong-hwa, President of the 12th Alumni Association, and Lee Kun-soo, the 13th president of the Alumni Association, attended.     Bae Johngseok, dean of the Business School, said, “This year, KUBS was ranked 20th in the ‘2021 World’s Top 100 Executive MBA Rankings’ announced by the Financial Times in the UK.” Then, Dean Bae expressed his gratitude to all those who attended. He added, “Even though it is a difficult time in many ways, the scholarships that have been delivered with meaningful hearts will be used for the development of the E-MBA.” Afterwards, President Bae finished his congratulatory speech by giving thanks to the President of the Alumni Association, Ahn Jeong-hwa, and congratulations to the next president of the Alumni Association, Lee Kun-soo.     The event ended with the chanting of the school hymn and the closing declaration.

Lee Sae Rom (Business ’19): the youngest successful candidate to pass the 2021 CPA exam (Business ’19 Lee Sae Rom)   A total of 152 students of Korea University have passed the CPA exam in 2021, making Korea University the most successful university for this exam. Since 2016, Korea University produced the highest number of successful candidates for six years. This year, the youngest successful candidate to pass the exam was a student enrolled in KUBS. KUBS interviewed Lee Sae Rom, the youngest student to pass the 56th CPA exam.   Q. Congratulations on being the youngest successful CPA candidate of the 2021 exam! What were your motives to prepare for the CPA exam? Thank you. It’s an honor to be interviewed. I chose the CPA exam because I thought I should become an expert in my major while pondering about my future career. If I could focus wholeheartedly on one field and be successful, I believed that this experience would help to overcome future obstacles. I started without much hesitation. At first, I started to prepare for the exam because I was interested in accounting and finance. While studying, I got to know what accountants do in detail, which made me even more eager to pass the exam. Q. How was it when you heard you were the youngest to pass? How did those around you react to the news? I received a call that informed me about the news two days before the results were announced. I was extremely nervous when receiving the call, and I was thankful about the fact that I have passed rather than being the youngest. My parents, grandparents and other family members were extremely happy and proud when they heard the news. I received a lot of congratulations from my friends and fellow schoolmates, which just amazed me, and I was filled with gratitude. Jungjincho, the press, and accounting firms also called to congratulate, which made me bewildered but happy at the same time.   Q. How did you continue your studies while preparing for the exam? I took courses at university until my first semester as a sophomore, then I took a leave of absence for two semesters. I started preparing for the exam during regular semesters, so I did not study much until summer break. I focused on preparing for the CPA exam since late August. Before that, I focused on regular courses during the semester during exam periods. Two of six courses that I took during my last semester were CPA related courses, which made it easier to prepare for the CPA exam. In my first year of preparing for the CPA, I took basic courses in the first semester, and I could take regular university courses. However, I had to cover various subjects and practice problem solving in the second semester, which makes it difficult to study while taking regular university courses. I began studying a bit late in 2021, so it was my strategy to take all basic courses as quickly as possible, then I jumped in to take problem solving courses. If one finished all courses in November to December and got used to problem solving, I believe January and February is enough to increase the speed and accuracy of problem solving. So do not rush and try to study weak areas one at a time. It’s especially important to mark questions that one has got wrong. There is not enough time to solve all questions, so it helps to focus on questions I previously got wrong.   Q. How did KUBS lectures help in preparing for the CPA exam? I took Financial Management and Intermediate Accounting. The professors taught the courses well so that students who are new to the subject can fully understand, practice, and become interested. These two subjects felt easy because I already got accustomed to them through lectures provided by the school. The professors repeatedly emphasized basic but core concepts of the subjects, which helped in understanding difficult concepts while studying for the CPA exam.   Q. Were there any difficulties caused by COVID-19 and how did you overcome them? I usually studied at home and sometimes went to study cafes to give a change. I was sometimes lonely since I seldom met my friends while preparing for the exam, but my family encouraged me and helped me through this journey. The hardest part of this exam was when I felt unprepared to pass the exam. I fell down many times, but I always stood up and studied. In the days when I couldn’t study well, I took a break and studied harder the next day.   Q. How do you want to spend your remaining days at university? What lectures are you interested in? I have a lot of courses I am interested in, so I want to focus on my studies during the semester and travel now and then. I think I will do a part-time job at an accounting firm during winter break. I’m interested in Business Analytics related courses among business lectures. I became interested in the BA track thanks to ‘Business for Society’ that I took in my first semester. I became interested in analyzing data with programming and statistics. I’m now an accountant that analyzes data so I believe the BA track will be even more important to me. I’m especially interested in Financial Analytics and Operations Analytics.   Q. Anything you want to tell fellow students who are preparing for the CPA exam? It is difficult to focus on studying one thing for a long time. My respect and support to those who are studying for this exam! Don’t compare yourself with others, trust yourself and carry on. We all have different methods and speeds of studying. If you feel anxious, believe in yourself, and do your best to follow your daily schedules. These days will accumulate to prepare you for the exam. It is difficult to study for the exam and regular courses at the same time, but if you decided to pass the CPA exam, I recommend you study without delay.      

2022 Information session for students accepted by early admission   The 2022 KUBS(Dean= Bae, Johngseok) Information session for students accepted by early admission was held on December 19th (Sun).  Following the current COVID-19 guidelines, the event was held through live streaming on KUBS YouTube channel, while Johngseok Bae, Dean of KUBS, Jaeuk Chun, Associate Dean of KUBS and KUBS Ambassador KUBE participated in the event.     Dean Bae welcomed students saying, “On the beautiful KUBS campus, you will create with the spirit of freedom, cooperate with the spirit of justice for the coexistence of humanity, and uncover the unknown with an unwavering pursuit for the truth. You will start your journey as a proud member of KUBS.”    Also, Dean Bae expressed the determination of KUBS, saying “The dream and mission of KUBS is to let world-changing leaders that has both humanity and skills grow, thus contributing to the humankind living a better life together. We will support you strongly so that you can grow and go change the world.”      Next, associate dean Chun introduced KUBS, and undergraduate representatives shared their experiences of activities within and outside of university. KUBE student ambassador introduced various activities and benefits that KUBS students can enjoy such as KUBS life and culture.     Lastly, the event concluded with the KUBS Building Tour clip and Q&A Session held by staffs. The 2022 list of successful candidates of early admission was announced on 17 th (Fri) 8 pm, and students can register from 18 th (Sat) to 21 st (Tue) 4 pm.     Editor | KUBS Management Support Team

“Take a train to success!” 2021 Startup Express Winter Season Ends in Success   Korea University Business School (Dean=Johngseok, Bae) Startup Station (Director=Hojung, Shin) completed this season’s startup competition. Amid the passion and unique ideas from future entrepreneurs, the “2021 Startup Express Winter Season” was held at the LG-POSCO SUPEX Hall on Friday, December 3. The event was held offline for the first time in two years, in compliance with the COVID-19 quarantine guidelines.   Hosted by KUBS Startup Station, organized by Seung Myung-ho Entrepreneurship Education Center, and sponsored by ▲Iljin Group ▲Dongwha Group ▲SK SUPEX Social Value Committee and ▲Happynarae, the “2021 Startup Express Winter Season” is a startup competition where students propose creative business items based on entrepreneurship and innovation.   In this season’s competition, △Director Hojung Shin △Managing Director Dongseop Lee △Managing Director Jungbien Moon △Professor Jaiho Chung, and △Professor Jinkyu Park of Station participated as judges, along with △Director Seungpyo Lee of Iljin Global R&D Center △Manager Wonkyung Yoo of the Hankook Ilbo Business Planning Team △Manager Joonhyun Hwang of Donghwa Group Online Service Team △Manager Jinyoung Kim of Happynarae Social Venture Team and △Professor/Partner Myungcheol Shin of KUBS and Kingsbay Capital. The event began with an introductory speech from Director Dongseop Lee of KUBS Startup Station. Director Lee welcomed the participating teams by saying, “We welcome our young entrepreneurs to the platform of innovation.” He further introduced Startup Express alumni such as and , which became successful businesses.   Next, Dean Johngseok Bae encouraged the participating teams with a congratulatory speech. Dean Johngseok Bae mentioned, “KUBS will continue to support startups so that they can contribute to the betterment and the common good of society.” He added, “We always support the talents of KUBS, who will lead a new society with an entrepreneurial mindset.” Out of 30 teams that applied to the “2021 Startup Express Winter Season,” 11 teams that passed the preliminary round were invited to the session to present their business items. The 11 teams consisted of △big data-based psychological counseling solution (Maum Wing) △local-based P2P travel platform (Budify) △investment crowdfunding platform that links individuals and small businesses (Hatchery) △hobby kit that protects the seniors and the environment (Know-how) △swipe-based webtoon recommendation platform (Dongju) △space-based short-form video platform (Anam Valley) △copyright trading platform for creators (OurTube) △upcycling store that sells clothing and miscellaneous goods by connecting future designers (Closeup) △data-driven integrated commerce platform for lovers (Lovable) △online collector space community for collectors (Soozip) and △fruit distribution platform that connects small farmers and single-person households (Fruiting). Each team was given five minutes to present their ideas and another five minutes for a Q&A session. The judges selected the teams based on criteria such as △problem identification △business model and △competence and passion.   By the end of the event, three teams, which include △OurTube (Seung Myung-ho Entrepreneurship Award) △Hatchery (Iljin Entrepreneur Award), and △Fruiting (SK Social Value Award), were awarded and were given a chance to take the “Startup Express” train to success. Four other teams, including △Dongju △Closeup △Soozip and △Maum Wing, were awarded the Participatory Award. The three teams that won △the Seung Myung-ho Entrepreneurship Award △the Iljin Entrepreneur Award and △the SK Social Value Award will be supported with operating expenses in the future, while other teams, including those who won △the Participatory Award, will be given an opportunity to move into the KUBS Startup Station Iljin Startup Support Center. After moving in, each team will receive continuous advice and sponsorship from mentors consisting of senior entrepreneurs, industry experts, and venture capitalists, along with systematic start-up education.   In the closing speech, Director Hojung Shin of KUBS Startup Station mentioned, “Startups exist not to earn money but to make a better world. You have taken your first step today as startup leaders.” He ended the speech by saying, “We hope you become great business leaders who positively contribute to society.”   Editor | Sangbong Chung (College of Political Sciences & Economics, Department of PSIR 17th)           Yunghee Chung (School of Media & Communication 20th) Photo | Eunbee Cho (Business School 20th)