News
Announcement
KU MBA Program Wins Largest Gov’t Grant
Korea University Business School (KUBS) won a yearly W1.3 billion (US$1.3 million) government
subsidy for the next seven years for the school’s MBA programs, according to a recently unveiled
government subsidy program, named Brain Korea (BK21). The fund will go to foreign faculty
recruitment, curriculum development, development of texts and cases, and academic programs.
A total of 14 Korean business schools had vied for the subsidy, but only four ended up earning the
grant. The four include KUBS and three other business schools of Seoul National, Yonsei and
Sungkyunkwan.
Sources said that KUBS, the best and first business school in Korea, passed the government
selection processes on the highest score, earning the largest batch of the subsidy.
The Ministry of Education and Human Resources Development (MEHRD) announced on April 26
that it has selected 568 research teams from 74 universities to share a 2.3 trillion-won ($2.2 billion)
subsidy program aimed at encouraging research at the county's universities, according to the
broader BK21 Project.
The government introduced the project in 1999 to boost the international competitiveness of
Korean universities.
By 2012, the government aims to cultivate 18,500 first-rate researchers in science and technology
fields, and 2,500 in humanities and social studies, according to a statement released by
the Education Ministry.
Under the subsidy program, the selected research teams will be allocated 290 billion won
($280 million) a year over the next seven years. Annually, 174 billion won ($173 million) will go to
science and technology research and the remaining 116 billion won ($115 million) will go to
humanities and social studies, MBA courses and medical and dental research.
With regard to science and technology, 157 research teams from 35 universities will benefit from
the program that grants each masters candidate 500,000 won ($490) a month, and a doctorate
candidate 900,000 won ($890) every month. Sixty-one humanities and social research teams from
20 universities, and 21 teams involved in medical and dental studies will also be beneficiaries of the
fund.
Among the universities, Seoul National University topped the list in the number of selected research programs with 44, followed by Yonsei University with 33, and Korea University with 28.
The selection was made by a government panel through a multi-stage evaluation process, according to officials at the Education Ministry. The panel was comprised of experts who won recommendations from major academic institutions in various sectors, they said.
The Education Ministry will finalize contracts in May with the universities concerned for granting the fund and make on-the-spot inspections from June to August to check how they have implemented the subsidy. Research teams that fail to meet their targets could face a reduction in funding.
Korea University Business School (KUBS) won a yearly W1.3 billion (US$1.3 million) government
subsidy for the next seven years for the school’s MBA programs, according to a recently unveiled
government subsidy program, named Brain Korea (BK21). The fund will go to foreign faculty
recruitment, curriculum development, development of texts and cases, and academic programs.
A total of 14 Korean business schools had vied for the subsidy, but only four ended up earning the
grant. The four include KUBS and three other business schools of Seoul National, Yonsei and
Sungkyunkwan.
Sources said that KUBS, the best and first business school in Korea, passed the government
selection processes on the highest score, earning the largest batch of the subsidy.
The Ministry of Education and Human Resources Development (MEHRD) announced on April 26
that it has selected 568 research teams from 74 universities to share a 2.3 trillion-won ($2.2 billion)
subsidy program aimed at encouraging research at the county's universities, according to the
broader BK21 Project.
The government introduced the project in 1999 to boost the international competitiveness of
Korean universities.
By 2012, the government aims to cultivate 18,500 first-rate researchers in science and technology
fields, and 2,500 in humanities and social studies, according to a statement released by
the Education Ministry.
Under the subsidy program, the selected research teams will be allocated 290 billion won
($280 million) a year over the next seven years. Annually, 174 billion won ($173 million) will go to
science and technology research and the remaining 116 billion won ($115 million) will go to
humanities and social studies, MBA courses and medical and dental research.
With regard to science and technology, 157 research teams from 35 universities will benefit from
the program that grants each masters candidate 500,000 won ($490) a month, and a doctorate
candidate 900,000 won ($890) every month. Sixty-one humanities and social research teams from
20 universities, and 21 teams involved in medical and dental studies will also be beneficiaries of the
fund.
Among the universities, Seoul National University topped the list in the number of selected research programs with 44, followed by Yonsei University with 33, and Korea University with 28.
The selection was made by a government panel through a multi-stage evaluation process, according to officials at the Education Ministry. The panel was comprised of experts who won recommendations from major academic institutions in various sectors, they said.
The Education Ministry will finalize contracts in May with the universities concerned for granting the fund and make on-the-spot inspections from June to August to check how they have implemented the subsidy. Research teams that fail to meet their targets could face a reduction in funding.