KAIST Business School Journal 2011 Spring. Vol.16. Frontier

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1 KAIST Business School Journal 2011 Spring Vol.16 Frontier 1

2 나침반 Another Step for KAIST Business School in Global Stature Dean K. Ravi Kumar CONGRATULATIONS, Korea! You are among a very select set of countries that have their MBA programs ranked in the Financial Times (FT) top 100 in the world. And yes, KAIST family, you can be proud that it was KAIST Business School that made it to the FT top 100 the first Korean school. Your degrees and certificates from KAIST Business School just became more valuable! Korea should be proud since in Asia, the only other countries that are included in this prestigious list are China/Hong Kong, India and Singapore. Even China, the school that is included (CEIBS) is actually a joint venture between China and Europe and not a national Chinese university like Tsinghua or Peking University. And, if you leave out ex British colonies which have an English advantage, KAIST Business School is the first from a national university of a non-native English speaking country in Asia to be included in the FT top 100 MBA programs. KAIST Business School is ranked 99th in the world for their global full-time MBA program and 7th in Asia by FT we were the only Korean business school in this prestigious ranking. The entry into the top 100 MBA ranking this year along with our great achievement of being ranked 45th in Executive Education in 2009 shows that KAIST has proven itself as a globally competitive, prestigious business school. In the area of exposure to international experience, which can be measured by overseas field trips and student exchange program participation, KAIST MBA ranked 6th; it ranked 17th in placement success, including career support satisfaction. KAIST Business School received higher rating than Harvard Business School and London Business School in the area of employment rate within 3 months after graduation with a 100% success rate. KAIST Business School also placed 25th in full time doctoral rank, which measures the quality of PhD programs. Financial Times releases its full time MBA ranking every January and executive education ranking every May. Compared to other institutions involved in global MBA rankings, Financial Times MBA ranking is one of the most respected and most frequently cited ranking because it puts more weight on alumni responses regarding salary increases and careers after MBA graduation. The alumni survey accounts for 55% of the total points, the remaining being based on data about the business school. So, the participation, career/salary progress and recommendation of our alumni were very important to this outcome and we thank our alumni, our corporate partners and the rest of our KAIST family for making this happen. But we are not content we are in the process of developing a 5 year plan to grow our business school and gain even higher global stature, targeting the Top 50 in the FT rankings. To do this, we need to strengthen our percentage of international students (for example, in our new Global MBA) and this requires scholarships to attract top students from other countries. While our alumni and corporate clients have been very helpful in recruiting our students, we need our alumni to have more international mobility in their jobs/careers that we have prepared them for. So, we need your support, more now than ever before our work to become the best in Asia and one of the best in the world has started in earnest. Nagaja!

3 Hot & New KAIST MBA enters into the Top 100 in the FT Global Ranking, the first and only full-time MBA program in Korea - Ranked higher than London and Harvard MBA in the area of international experience and placement success - Only 7 Asian MBA programs are in the top 100 " The whole campus of KAIST Business School (KCB) was so excited about the good news; that is, KCB made its first debut in 2011 global top 100 MBA ranking of Financial Times, and this was the first time among many MBA programs in Korea. Especially, KCB ranked 7th in Asia region. " KCB is the first among other Korean MBA programs that made to the top 100 MBA ranking in the world. The Financial Times is well-known for its credential when it comes to rating Universities because of its methodology to put more weight on the salary increase rate after MBA graduation. Thanks to its good reputation all over the world, it is mostly frequently referenced MBA ranking index in the world. The KCB made it to the global top 100 MBA ranking in year 2011 with 99th place in full-time area. This was the second time following the great achievement back in 2009 when KCB ranked 45th in the area of executive Education. London Business School (LBS) and Wharton Business School jointly ranked 1st in the ranking. Harvard Business School (HBS) ranked 3rd in overall and Hong Kong University of Science and Technology ranked 6th in overall and topped among Asian MBA programs. KAIST was 6th in the international experience such as international field trip and exchange program participation, and was 17th in the area of level of satisfaction in career coaching service. Especially, KCB was rated higher than LBS and HBS in the

4 KAIST Issue area of placement rate after graduation. In case of KCB, its placement rate is 100%. In the area of Academics, KCB ranked 25th in the world by the criteria of how many doctorates it nurtured over the last 3 years. KCB will take itself to the next level by opening Global MBA program For the first time in Korea history for KCB goes back to year It opened American-Style fulltime MBA for the first time in Korea, and ever since then, it has put lots of efforts in providing industrycustomized education and nurturing global talents. Besides, it joined GMAC for the first time in Korea where lots of prestigious MBA programs such as MIT Sloan and Harvard Business School (HBS) are the members, and it was selected as the representative MBA Program among other Korean MBA programs in the World Economy Forum (WEF). KCB made it to the global top 100 full-time MBA ranking in 2011 and this is unprecedented in Korea. KCB proved itself that it is one of the prestigious MBAs in the world said Dean Ravi Kumar. KCB s Challenge has just begun and it is preparing to step up to be in the same level with MIT, LBS, HBS, and other top business school in the world. In line with this ambition, KCB is opening global MBA program for the first time in coming fall semester. Since the proportion of foreign students in KCB is merely 10%, it plans to become a genuine global MBA program by increasing this number to 20~25%. In case of global MBA program at KCB, students can pursue dual-degree or exchange program in the second year. I noticed from the participation in Financial Times Survey that that KCB is getting better reputation in the world said Mr. Gilsun Kim, who is alumni of KCB, class of 2005, working at IBK private banking department. The human network that I built inside the KCB has been very helpful, and if more foreign students and foreign faculty members join KCB group, it is matter of time to become one of the best MBA schools in the world added Mr. Kim. ALUMNI INTERVIEW Business School that makes strengths even stronger and converts weaknesses into strengths "The virtuous cycle of cooperative structure between enterprises and schools is expected " Ae ri Lee (Techno-MBA 2005) KT Wireless Incu Planning Team Manager 2011 FT Global MBA Ranking Survey Respondent How did KAIST Business School (KCB) help you in the area that you are working now? I studied for 2 years at KCB techno MBA program as a corporate sponsored student (Sponsor: KTF). After graduation, I came back to the strategy department of KTF and got involved in many strategy building projects. Through MBA experience, I was able to broaden my knowledge in many different industries and was able to develop ability to draw a big picture for a conversance business among many different industries. What do you think the reason that KCB could make it to the global MBA top 100 ranking? I think this success could be attributable to the active social participation of alumni members and active advertising that KCB has worked on. In case of FT ranking, the level of increase in competitiveness of individuals after MBA graduation and social status are considered when ranking is evaluated. I am so proud that KCB draw an outstanding result in this stringent assessment. What are the strengths that KCB has in the society? KAIST Business School is the place that makes strengths of students even stronger and converts weaknesses of students into strengths. In my case, I mainly worked in R&D of service and system industries before I entered into KCB, and after graduation of MBA at KCB, I worked in strategy department. The special curriculum that KCB has is the reason that I could be recognized as a talent that possesses both technology and business knowledge. Since KCB offers a variety of curriculums and seminars that enable students to accumulate cutting-edge high technology and management knowledge at the same time, it allows students to make their strengths even stronger and convert their weaknesses into strengths. What other factors that KCB needs in order to make it within global top 50? We have to raise brand recognition of KCB. In light of oversea experience I had through exchange program and business deal with foreign companies at work, the brand recognition of KCB is weak. It is imperative that KCB put more efforts on the advertising and global academic exchange. Besides, we need to reinforce the cooperation between academia and industry. Through more active cooperation between these two parties, more vivid case study in academia can be feasible. This way, companies participating this kind of cooperation can secure high quality human capitals earlier and adopt advanced management knowledge and skills in a timely manner. The virtuous cycle of cooperative structure that enables win-win situation has to settle down.

5 Global Zone Global MBA Think Globally & Engage Locally Nurturing talents that practice the globalization of managemently launching a Global MBA program KAIST Business School newly opened a global MBA program that starts with fall 경영의 세계화를 실천하는 semester in September. Through this program, KCB plans to increase the proportion 인재 양성 of foreign students to 25% and, in turns, leads itself to the global top 50 MBA program. 글로벌 MBA 과정 개설 Demand for global talents in emerging MBA program will play a role to satisfy this need Business School will be taught in English by countries in global market mentioned Dean Ravi Kumar renowned professors from both KAIST and other Recently, as many Korean companies have been with strong confidence. prestigious Universities. Also, KCB designed a very stepping up in emerging markets such as China, Cooperative exchange programs in progress differentiated program in a sense that it provides India, and many South East Asian countries, the with prestigious MBA programs in oversea unique opportunities such as company visit and demand for talents that understand both Korean The duration of global MBA program is 2 years, cultural experience to foreign students. It provides culture and its business has been increasing. and if students pursue dual degree program, many opportunities to understand Korea through The vision of global MBA that kicks off as of this the duration extends to 2~3 years. In the first offering Korean business culture related courses coming fall semester in September is to nurture year, students are required to take Management and a variety of seminars. Especially, the school talents that satisfy both global demand and strategy, Leadership, Marketing, Supply and plans to support many internship opportunities local demand. Its objective is to supply talented Demand Management, Financial Accounting, at Korean companies. The global MBA starts individuals that Korean global companies and MIS and more core courses. In the second year, to receive applications from April and the first multi-national companies need through training designing curriculums based on individual s own semester starts in September. Foreigners should in such a way that students can possess both interest and background is possible and students apply between early and late April. Korean global insight and local mind at the same time are allowed to pursue dual degree and to take applicants should apply between late April in many different industries including not only courses in other MBA schools in oversea such as and mid-may. For more information regarding traditional manufacturing industry but also U.S, Europe, and China by participating exchange admission, prospective students are encouraged advanced technology and service industries. program. To make this possible, KCB signed to contact the global MBA office at KCB. Korean companies have been very aggressive in dual degree MOU with University of Illinois and global market. Especially, there is huge demand North Western University and new MOUs with for talents who know Korean culture and USC, University of Arizona, IE Business School in understand the emerging markets. The global Spain are under discussion. All courses at KAIST Contact Us Techno-MBA Office T hslee0526@business.kaist.ac.kr webpage:

6 Global Zone The special Orientation for the special guests Exchange Program of Korea through enjoying traditional Korean Welcome folks! The mentorship program for exchange students Through mentorship program, the exchange students were able to build up new human network. The mentorship program was designed to connect KAIST students as mentors with the exchange students as mentees and to help exchange students adapt to the new environment well and share a variety of cultures through socializing among mentors and mentees. On February 16th, there was a matching event among 41 mentors and 21 mentees. It was very casual setting that students can get out of the formal environment in class. Especially this year, the role KAIST to the world and the world to KAIST Mentorship program for exchange students The exchanges among Universities are dramatically increasing in line with globalization. Total 316 exchange students from KCB have visited other universities in oversea since There were many outbound students this spring semester as well from Finance MBA and Techno MBA to U.S, Japan, China, France and etc. To replace these outbound students, 21 inbound students from many different countries such as Germany, France, China, Thailand and etc. visited Korea for their exchange programs, and they are already so into Korea and KAIST Business School (KCB). of mentors are highly expected because this time the matching ratio among mentors and mentees are more than 1:1 (with more mentors assigned to less mentees) unlike last year when the ratio was 1:1. It is expected that mentees adapt to the new environment faster than before thanks to this advanced mentorship program. Ling Yang, who had a dinner on the mentor-mentee matching day, mentioned Korean foods are so delicious that I don t want to go back to my own country. Besides, she expressed her gratitude to her mentor, saying that my mentor helped me to get used to the On January 27th 2011, KCB held a special tea and cookie. Peter Blomeke from University of life in Korea so fast by helping me to find the orientation for 21 special exchange students Mannheim mentioned that he thought Korea is bookstore, laundry place, and other convenience Most of these students landed on Korea only one advanced in only semiconductor industry. It was a facilities. Once the exchange students finish their or two day before the orientation. The orientation great opportunity for him to learn Korean culture final exams at the end of May, they will go back was designed for these exchange students to let through trying on Korean traditional costume. to their own countries. They are so excited about them know the Korea right. On the orientation day, the exchange students making good memories at KCB in Korea for short 4 The exchange students, who change their clothes accepted Korea with their 5 different senses. months duration. to Korean traditional costume Hanbok as soon as they entered the location for the orientation, could not take their eyes off the video clip that introduced Korea. They seem to be surprised that Korea has strengths in Shipbuilding, auto manufacturing, and sports as well as IT industry. The foreigners who have blue eyes were getting more interested as they learned about Korean history and traditions. The exchange students also tried Korean traditional bow ceremony called saebae. Since most of students were not used to bowing in Korean way, it gave everyone big laugh. They could experience the taste and beauty

7 Inside Zone Around Campus Be lost in nature and history, come to Hong-leung It is an area of a size about 1.2km long and the 4-lane road that is about 20~25m wide, which straddle Cheong-rayng-ri and Jegi-dong. The pretty name Hong-leung was given as the land was open and green and because it was where the royal tomb of the Last Empress was located at the time of The tomb is no longer in Hong-leung as it has been re-located to Namyangju, but the reason that it is still called Hong-leung is because of the opaque nature and desolated area, which fit in with the meaning of a secret garden. There are still many exquisite places which is unknown to the public. Now the spring has come to Hong-leung, let us do some treasure hunting. The memorial center of King Sejong Start walking towards Korea University for about 5 minutes from the main gate of KAIST Business School and you will be able to find the place. The memorial center was built in October 1973 on the 13,200m2 land in dedication to commemorate and to preserve the achievements of King Sejong. The memorial center owns 627 artifacts and displays a hundred of literatures that are related to Hangul, which is known as the greatest achievement of King Sejong. The center attracted the attention of the reporter as it is the only place in Korea displaying the references used at the time of the making Hunminjeongeun, the Korean script, and rubbings of foreign characters. The opening hours during March through October are from 9am till 6pm & 9am till 5.30pm during November till February. The memorial center is closed every Monday, on New Year s Day, Lunar New Year s Day and Korean Thanksgiving Day. The entrance fee is 1,000 Won for a student, 2,000 Won for an adult, free for babies under 2 years old which includes free parking. The Dongdaemun-gu Information Library If you walk through the Hong-leung elementary school which is across the road from the main gate of KAIST Business School, you will find the library. The Seoul City compiled a special budget to build the library as they thought it was important to keep up the pace with the era of information. The library was opened in June 2006, and it currently carries 85,000 books as well as 46,000 non-paper books of which 36,000 are electronic books and audio books, which make this library unique. They also run various courses and library film festival are welcomed by residents. Mr Ki-Hong Park (TMBA 2010) is one of the KAIST students who frequently visit the library. He explains that the varieties of its book collection are very helpful and that people who visit the library are passionate for their study as much as KAIST Business School students. Also the Hong-leung Park on the way back from the library is the best place to go for a walk after studying hard. The Hong-leung arboretum Across the road from the memorial center of King Sejong is the Hong-leung arboretum, where you can be surrounded by many different plants (the formal name is the arboretum of the Korea Forest Research Institute). It was constructed in 1922 when a forestry experiment station was established in Hong-leung, where the tomb of the Last Empress was. The area is about 440,000m2 big. Most of species were destroyed during the 6.25 War and it has been in the recovery since 1960s. Today, there are about 20,000 plants that are categorized under 157 families of 2,035 species and it owns around 4,245 species of various specimens such as pressed leaves. The arboretum is closed during the weekdays for research, but it is open for the public visit during the weekend. The opening hours are from 10am to 4pm in winter (November to February), 10am to 5pm in summer (March to October). There is no entrance fee. For more information, visit the website