[KU Business Journal 60th Anniversary] 60 Year History of KU Business Journal   < The first weekly newspaper in Korea > Acting as a compass for business management and a guide for business prosperity, the Center for Business Research & Education, affiliated with KUBS, launched the Business Journal on December 15, 1960, the first business newspaper in Korea. The publication was led by Prof. Kim Hyo-rok, then Director of the Center, Prof. Yun Byeong-uk, then Deputy Director, and Prof. Jo Gu-yeon, then Director of the Center’s Research Department. After gaining official permission for publication during the Jang Myeon administration, the four-page newspaper was published weekly. It was printed by renting the site of the Minkook Daily Newspaper (the Shinhan Bank building today) in Namdaemun, Seoul. < A tumultuous era – Publication suspension and reissue > The publication of the Business Journal was suspended temporarily in early 1964 as student demonstrations against the Korea- Japan negotiations caused the school to close several times. Most other forms of university media also had operations suspended.     < First Business Journal>   < Business New Report > The following year, Business Journal was reissued under the name of the Business New Report. The then Korean government had flexed its muscles to force the name change. The government banned all university media from using the word “journal” in their publications, claiming that “journal” represented established media; thus, university journals could trigger student demonstrations when addressing social issues. For the same reason, it was at this time that the “KU Journal” was also changed to "KU New Report." The first issue of Business New Report was published on September 21, 1965, and the current order of the Business Journal is added one by one in the order in which it was issued under the first issue of September 21, 1965. It is a great pain that more than 100 issues, which had been published before 1965, were omitted from the calculation of the order. < Reporting academia and school news > In 1966, the name reverted to the Business Journal. Originally published by the Center for Business Research & Education (the Institute for Business Research & Education today), the Business Journal fell under the control of KU Graduate School of Business Administration. Accordingly, there have been a lot of articles from the Graduate Student Association and Alumni Association, and the distribution targets were changed. Since the 1980s, it has served as a public relations material for KUBS, and since 2003, the dean of KUBS became the publisher of the journal. Although there have been difficulties and ups and downs in publishing the journal, it is difficult to find a similar example of publishing 16 pages of the tabloid four times a year (once a quarter).   >> Go to see KU Business Journal No. 691.      

[Interview with Dean Johngseok Bae] “KU, University that makes everyone proud”     Q. Please share your impression looking back at the last two months since you have taken the lead of KUBS   I am still spending my day and night thinking about the promising pathway for the growth of KUBS, which can also correspond well with the preceding executives of the school. I thought my role would be pretty much similar to the things that I have experienced before as Associate Dean of Business School and Director of Institute of Business Research and Education (IBRE), but now I can say it is totally different. Workloads in different KUBS departments are quite considerable, and I have to be responsible to make wise decisions over the streams of ongoing businesses.   According to the Mintzberg, who defined the roles of business leaders, I would say a Dean of KUBS has multiple responsibilities in three dimensions: interpersonal / informational / decisional roles.     Q. What are you planning for the next 2 years, as a leader who should open up a new pathway for the future.   The core vision of KUBS education has not been changed for the last 5 years, since 2015. I believe that’s because the preceding Deans have pursued a sustainable goal that can create large possibilities in the future. Therefore, I’ll continue strive to maintain that goal in the long-term. We are keep looking forward to the ‘Business for Society - Inspiring Next Leaders’, and again, we are to become Asia’s No.1 business school in the next coming 10 years.   In specific, I would try to interpret our vision in different terms, through the lens from the diversified business perspectives. I believe the genuine reason of business should be found in the process of creating happiness and making the world better place to live in. In KUBS, the three core curriculums – Entrepreneurship, Social Value, Business Analytics – will fit into the direction that we are heading and I expect there will be a foreseeable impact on our performance soon.     Q. What aspects do you think does KUBS need to take a leap forward to achieve the objective of becoming ‘Global Top 30, Asia No. 1 by 2030’.   To achieve the objectives, research, educational, and administrative capabilities must be strengthened. For research capabilities, we need to invite tenure-track professors with high research abilities and various types of research professors, find ways to increase the research cycle, and also secure enough research time for incumbent professors at the same time.   In order to secure educational capabilities, each program needs to be innovated. This will require consideration for expanding the scope of courses which students can choose from, providing continuous teaching methods, offering incentives to open new courses, and restructuring of courses by the undergraduate/MS&PhD/MBA program etc., ultimately contributing to the expansion of the previously mentioned four dimensions.   Finally, administrative capabilities should also be reinforced. It will be necessary to establish quarterly and annual performance indicators by combining each task and various evaluation indicators at KUBS, set long-term and short-term goals while continuously managing them, and link such goals to the system construction. Of course, we also need to make various efforts to improve the capabilities of our staff members.     Q. In a rapidly changing environment (i.e. due to COVID-19), what kind of talented people do you think does the society need. Please tell us how KUBS will nurture people with such talents.   Business administration is not designed to nurture people who will work for 4~5 years under other people and who can only do what they are told to do. It is important to nurture talented people who will become leaders in each field of society and can contribute to lead a good life together.   I hope that our KUBS students will be able to become talented people who pursue 'novelty with dignity', people who have both personality and ability. In times of crisis, we not only need talented people who have resilience in the process of overcoming the crisis while sufficiently manifesting the four dimensions (height, depth, width, and length) mentioned above, but also need those who can comprehensively look at the crisis and make balanced decisions.   In fact, 'dignity' is already established in Korea University’s culture and tradition. It's not just about individual interests, but about promoting the benefits of the whole. In this context, I think we have been already fostering talented people who pursue the common good in our society. In order to accumulate this spirit, we should consider variously including this in the curriculum of the Business School, and furthermore through extracurricular courses such as various events and activities.     Q. Do you have any last words to give to the members of KUBS. First of all, I would like to express my gratitude to all members of the Business School. Our students' passion and pride are the start of developing KUBS. I would also like to thank the staff members for their hard work in each field. Moreover, without the dedication of our alumni, KUBS would not have developed as it is now. Above all, the dedication of professors who give their best in lectures and research was the driving force of development. I am really thankful to you all. I believe that all members have been devoted to their own and many ways, leading KUBS so far.   If I were to be a little greedy, however, I think this period - called a crisis - is the right time for KUBS to accumulate the foundation competency to become a lasting organization. To this end, I hope our members will seek "novelty with dignity" and create a new culture. I hope that the value of continuously ‘creating’ novelty, ‘collaborating’ by forming partnerships that trust and respect each other, and ‘contributing’ to each and everyone's development becomes internalized. I surely believe this culture will be a great help for KUBS to take a step further in the future.           

‘Board on the train of successful startups!’ 2020 Startup Express Winter Season held KUBS (Dean= Bae Johngseok) Startup Station (Head= Dr. Shin, Hojung)’s 10th teams were selected. ‘2020 Startup Express Winter season,’ held online on December 4th (Friday) 2pm, was filled with passionate and brilliant ideas of pre-entrepreneurs.   KUBS Startup Station hosted ‘2020 Startup Express Winter season’ with Seung Myeong Ho Entrepreneurship education center supervising, sponsored by Korea University Management Research Association and the Social Value Committee of SK SUPEX Pursuit Council. ‘2020 Startup Express Winter season’ is a startup competition in which participants propose creative business items based on entrepreneurship and innovation.   Dean Bae Johngseok began his opening speech by saying “I can’t predict which team will board on the ‘Startup Express,’ but I send my applause to all the teams who have worked passionately night and day for this moment.” “This day will be the first step of our entrepreneurs who will glorify Korea University and Korea. Please join us today,” he told the judges and viewers.   Director of Seung Myung-Ho Center for Entrepreneurship Education, Dr. Shijin Yoo, introduced successful companies such as , , that have been on the Startup Express. “I hope all of you presenting today can lead your company successfully with passion and brilliant ideas,” he said in his welcoming speech.   A total of twelve teams that passed prior evaluation attended ‘2020 Startup Express Winter Season’ and introduced their business items. △Open market platform for Chinese online present-giving (EUZEN), which aims to be a global kakao present-giving platform △New platform for all license exams (Pro-pass) △Sustainable English education taught by mothers (Tingle) △A friendly, easily accessible vegetarian meal-kit (Ham bat Kkot) △Online personal construction service for simple self-interior decorating: ByJieun (Jung Han) △Meal managing service (Kilo) △Region-based pet care service (Come Me) △Platform for easily comparing convenience food (SJB) △Service that provides core values for citizens preparing for law suits by themselves (Mimisbrunnr) △AI Interior curating service based on color (Cowus) △Wedding guest management service (8K) △Content saving service using AI classification technology: stack (Journisome) were the teams that presented.   In ‘2020 Startup Express Winter season,’ each company was given five minutes to present their business items and five minutes of Q&A session. The jury selected teams based on △problem defining △business model △ability and willingness.   Among fierce competition, seven teams including △Kilo (Seung Myung-Ho Entrepreneurship award) △ Tingle (Iljin startup incubator award) △ Mimisbrunnr (SK Social Value award) were permitted on board the ‘Startup Express,’ the key to becoming a successful startup. The teams awarded with △Seung Myung-Ho Entrepreneurship award △Iljin startup incubator award △SK Social Value award are given operating expenses, and all seven teams including △Participation award winners can move into the Startup Institute’s Iljin Center for Startup Incubation. They will also receive systematic enterprise education and support as well as continuous consultation and support from mentors composed of senior entrepreneurs, industry experts and venture capitalists.   Head of the Startup Station, Dr. Shin, Hojung, concluded the event by saying “I’m so sorry that we could not meet offline, but it was a great pleasure and meaningful to meet all of you.”   Korea University Business School’s Startup Station hosts various events such as ‘Startup Express (Startup competition),’ ‘Choo Choo Day (Demo day)’ and has fostered 71 companies until today and total enterprise value of all companies that have moved in is 45 billion KRW, making the KUBS Startup Station a successful university startup supporting institute.

[Obituary] Kim Dong Ki Emeritus Professor, a pioneer in Korean business administration Korea University Business School Emeritus Professor Kim, Dong Ki passed away at 6:58 p.m. on December 15, 2020.   After graduating from Korea University College of Commerce, he received a master's degree in business administration from New York University and PhD in business administration from Korea University. He taught and studied marketing for 34 years from 1965 to 1999, a pioneering role in introducing marketing studies in America to Korea in the 1960s.   In addition, he led and developed Korean business administration by serving as the Dean of Korea University Business School, president of Korean Marketing Association, president of The Korean Academic Society of Business Administration, president of Korean Academy of Commodity Science & Technology, president of Korea Logistics, and vice president of the National Academy of Sciences, Republic of Korea. He also received the "Sangnam Business Scholar Award of the Year", Order of Civil Merit Seogryu Medal, and the President's Commendation. He published a number of books including "Modern Marketing Principles", "Modern Distribution Organization Theory", "Consumer Credit System Theory", and "International Management Strategy".   From 2018 until recently, the Kim continued to serve as the 37th and 38th (second term) chairman of the National Academy of Sciences, a national institution established to encourage academic research and promote international exchanges; but passed away at the age of 87 due to sudden deterioration in health.

      [Startup Station Lecture Series #6] 'Success in the Global Market' – Jongkap Kim, Chief Executive Director of Born2Global Centre   The sixth lecture of the Lecture Series, organized by Korea University Business School (Dean=Johngseok Bae) and KUBS Startup Station (Director= Hojung Shin), was held on November 17 (Tue). The Lecture Series is a lecture given by startup mentors currently active in the field as a part of the Entrepreneurship Academy hosted by Seung Myung-Ho Center for Entrepreneurship Education - the education institution in the Startup Station.   The special lecture was conducted under the title of "Success in the Global Market" by Jongkap Kim, Chief Executive Director of Born2Global Centre, a consulting center that helps Korean startups enter overseas markets. The lecture was sent online in real time due to the COVID-19 situation.   According to Jongkap Kim, Korea has invested a lot in Research & Development (R&D) that it ranked first in the Bloomberg Innovation Index in 2019, but has failed to produce global startups.   Then how can Korean startups enter the global market? Kim stressed the importance of consulting on Product Market Fit (PMF). It is crucial to connect the customers that best match the ideas that startups are trying to implement. Therefore, the first step in the consulting process is to ask "what value does the startup offer to customers?" and define the target customer accordingly. Afterwards, depending on the type of business, the company will find potential partners or receive feedback through hands-on experiences.   Kim concluded the lecture by saying that startups must make plans thoroughly in order to succeed. He introduced the formula for startup success: "Idea + Timing + Planning x Execution," and emphasized that not only ideas, but also the right timing, setting hypothesis about potential customers, implementing and accepting feedback are important.  

      KUBS Career Hub holds the 2nd Career Week   Hosted by KUBS (Dean = Bae, Johngseok), the 2nd Career Week was held on November 20th(Fri) by the KUBS Career Development Center. The 2nd Career Week was composed of two sessions – a special lecture on employment and another on corporations, the same way as the 1st Career Week.   The special lecture on employment is a time to get practical assistance from job consulting experts regarding the strategies of preparing for employment, writing self-introduction letters, and how to respond in interviews; while the special lecture on corporations is a time to mainly focus on introducing industries and jobs as well as dealing with recent issues by inviting corporate personnel who are working in various fields. Due to the COVID-19, both lectures were conducted as an online untact format.   In the morning, university business mentor Kim Tae-jong gave a special lecture with the subject of "Industry and Company-based Job Analysis." He presented specific methodologies for analyzing trends and prospects in certain industries and methods for analyzing the roles and positions of certain companies within the industry. He advised that industry/corporate analyses help students to shape the reason of application when they write self-introduction letters.   Mr. Kim also introduced how to gather information on job competencies and job experiences required to prepare for employment through various websites, adding that these industry/business/job analysis experiences will help answer the questions given by companies. He then stressed that employment is a "process of persuading interviewers why I am a person with competitive talent" and is part of business communication. To that end, he prepared a meaningful time by conducting practical activities with students who participated in the special lecture.   In the afternoon, CEO of Franklin Templeton Jun Yongbae gave a lecture on corporations in English. He spoke about a new industry in the 4th industrial revolution and changes in the asset management market. CEO Jun explained that existing industries are being replaced by more simple models with a new form in the 4th industrial revolution. Such changes have already occurred as we can see that the car-sharing industry has substituted taxi and car-rental industries, and the core of distribution has moved from markets to e-commerce like Amazon.   He concluded his lecture by emphasizing the importance of thinking what kind of changes will happen while moving towards the 2020s, just as much have changed while carrying out from the 2000s to 2010s.   Korea University Business School manages the Career Development Center to support students with their employment and career-setting. It provides practical assistance to students regarding their employment and career by holding career-related seminars, special lectures and etc. according to Business School students’ demand.   The 3rd Career Week (planned for a total of 4 times) will be held on December 18th(Friday). Mentor Kim Tae-jong will be providing a special lecture on employment with the subject of ‘Strategies of writing your letter of self-introduction’, and Jo Hyunsoo (HR Team Leader of L'Oreal) will be giving a lecture on corporations.