2016 KOICA - KAIST Master s Degree Program in Finance

Program Information 2016 2016 KOICA - KAIST Master s Degree Program in Finance August 22, 2016 February 28, 2018 Seoul, Korea Korea International Cooperation Agency (KOICA) Finance MBA KAIST College of Business *Participants are strongly advised to thoroughly read and follow the provided instructions in the Program Information.*

CONTENTS PART I. KOICA & SCHOLARSHIP PROGRAM 03 PART II. PROGRAM OVERVIEW 08 PART III. HOW TO APPLY 10 1. APPILICATION ELIGIBILITY 10 2. ADMISSION PROCESS 12 3. REQIRED DOCUMENTS 15 PART IV. PROGRAM CONTENTS 18 1. ACADEMIC SCHEDULE 18 2. ORIENTATION 19 3. CURRICULUM 20 4. EXTRACURRICULAR ACTIVITIES 22 PART V. TRAINING INSTITUTE 25 1. GENERAL INFORMAION 25 2. ACCOMMODATION 28 3. OTHER INFORMATION 30 PART VI. SUPPORT SERVICE 37 1. TRAVEL TO KOREA 37 2. EXPENSES FOR STUDY AND LIVING 37 3. INSURANCE 38 PART VII. REGULATIONS 41 1. ACADEMIC REGULATION 41 2. PARTICIPANT'S RESPONSIBILITES 44 3. WITHDRAWALS 45 4. TEMPORAL LEAVE 45 5. ACCOMPANYING OR INVITING FAMILY 46 6. OTHERS 46 PART VIII. CONTACTS 47 APPENDIX. Fellows Facebook & Twitter 48

PART I. KOICA & SCHOLARSHIP PROGRAM Part I KOICA & SCHOLARSHIP PROGRAM The Korea International Cooperation Agency (KOICA) was founded as a government agency on April 1, 1991, to maximize the effectiveness of Korea s grant aid programs for developing countries by implementing the government s grant aid and technical cooperation programs. In the past, development cooperation efforts were focused on meeting the Basic Human Needs (BHNs) of developing countries and on fostering their Human Resources Development (HRD). However, the focus has now shifted to promoting sustainable development, strengthening partnerships with developing partners, and enhancing the local ownership of beneficiaries. Additionally, global concerns such as the environment, poverty reduction, gender mainstreaming, and population have gained significant importance among donor countries. Due to the continuously changing trends in development assistance efforts and practices, KOICA is striving to adapt to these changes by using its limited financial resources effectively on areas where Korea has a comparative advantage. In particular, since Korea has the unique experience of developing from one of the poorest countries in the world to one of the most economically advanced, this knowhow is an invaluable asset that helps KOICA to efficiently support the sustainable socioeconomic development of its partner countries. Program Information 3

PART I. KOICA & SCHOLARSHIP PROGRAM Korea s ODA & Framework Official Development Assistance (ODA) is composed of grants or concessional loans, which are provided to developing countries with the purpose of promoting economic development and welfare. Korea s ODA is classified into three areas: 1) bilateral aid (grant aid & technical cooperation), 2) bilateral loans, and 3) financial subscriptions and contributions to international organizations (multilateral). Bilateral aid is comprised of technical cooperation and various types of transfer (made in cash, goods or services) with no obligation for repayment, and is implemented by KOICA under the authority of the Ministry of Foreign Affairs in the Republic of Korea. Bilateral loans are provided on concessional terms under the name of the Economic Development Cooperation Fund (EDCF), implemented by the Export-Import Bank of Korea under the Ministry of Strategy and Finance. Multilateral assistance is delivered either as financial subscriptions or contributions to international organizations. 4 Program Information

PART I. KOICA & SCHOLARSHIP PROGRAM Korea's Experience and KOICA's Program for Human Resources Development Human Resources Development (HRD) has been the most important factor in Korea s escape from vicious cycle of poverty and underdevelopment that had existed for many decades. With scarce natural resources, HRD played a vital role in modern Korea s development. Clearly, Korea has emerged as an exemplary showcase of national development powered by HRD. From its own development experience, Korea came to fully recognize the significance of HRD, specifically in regard to Korea s collaboration with other developing countries. With much experience and know-how in HRD, Korea contributes greatly to the international community by sharing its unique development experience with other nations. Since its establishment in 1991, KOICA supported a variety of international cooperation programs for HRD, mainly in project-type aid form, focusing on education and vocational training with a concentration in building a foundation for HRD. The training program provides opportunities to individuals from developing countries to gain first-hand knowledge of Korea s development experience. The purpose of the program is to enable the participants to apply what they learned for the development of their home country or local community. Since 1991, KOICA has an accumulated sum of 58,916 participants who have enrolled in the program, and each year we invite approximately 5,000 participants under some 300 different courses. There are a wide range of topics covered in the training program, including administration, economic development, science and technology, information and communication technology, agriculture and health. In order to meet the changing needs of partner countries, KOICA always strives to renovate and improve its HRD programs. Program Information 5

PART I. KOICA & SCHOLARSHIP PROGRAM Types of KOICA Training Programs KOICA offers five major types of training programs: 1. Country Training Program Tailored programs that are specifically designed for an individual partner country 2. Regular Training Program Programs that are open to any interested partner countries 3. Special Training Program Programs that are temporarily available owing to particular commitments of the Korean as well as partner governments 4. Joint Training Program Programs conducted in partnership with international organizations and other agencies 5. Scholarship Program Master s degree programs offered to individuals from partner countries 6 Program Information

PART I. KOICA & SCHOLARSHIP PROGRAM KOICA's Scholarship Program With a mission to nurture talented students from developing countries, KOICA invites high-caliber students from developing countries and helps them gain professional and systematic knowledge that will play a key role in their home country s development. To accomplish this mission, KOICA has been operating master s degree courses with leading Korean universities in the fields of economics, trade, women s empowerment, rural development, etc. In particular, this program has significantly strengthened the relationships between Korea and the students home countries. Students, who have been given an opportunity to see Korea s experience in poverty reduction and socio-economic development, will gain a deeper understanding of Korea and contribute to the future social, political and economic ties between the two nations. From 1997 to 2015, the program has assisted a total of 2,598 students through 141 courses. And as of 2015, 388 participants will participate in 19 master s degree programs at 19 Korean universities. KOICA Scholarship Program is fully committed to the Millennium Development Goals (MDGs) and is determined to expand its efforts to nurture future talents from developing countries to promote their countries sustainable economic growth and social development. Program Information 7

PART II. PROGRAM OVERVIEW Part II PROGRAM OVERVIEW Program Title: KAIST Finance MBA Program for Government Officials of Emerging Economies (2016 KOICA KAIST Master s Degree Program in Finance) Duration - Stay duration: August 22, 2016 ~ February 28, 2018 (18 months of study in Korea) During 18 months in KAIST, students are strongly recommended to complete their thesis. - Academic duration: September 2016 August 2018 (24 months) In accordance to the university regulations, the diploma will be issued in August 2018. Degree: Master of Business Administration in Finance Objectives 1) To train finance professionals to implant financial policies for the growth of developing countries financial and capital markets 2) To build partnership with developing countries for future overseas expansions of Korean finance institutions 3) To share Korea s experience in financial and capital market growth anddisseminate Korean culture to developing countries Training Institute: KAIST College of Business (http://www.business.kaist.ac.kr) Number of Participants: 20 Government Officials * Government officials from finance sectors such as Ministry of Finance and 8 Program Information

PART II. PROGRAM OVERVIEW Central/National Bank with quantitative background are preferred. Language: English fluency that requires no translation Accommodations: KOICA International Cooperation Center (ICC), KAIST College of Business Dormitory The dorm rooms are designed for double occupancy only. Each person is provided with a desk, a bed and a wardrobe. Program Information 9

PART III. HOW TO APPLY Part III HOW TO APPLY 1. APPLICATION ELIGIBILITY KOICA-KAIST Scholarship Program applicants must satisfy all of the following requirements: (1) Bachelor s degree by August 31, 2016 - GPA 3.3/4.3 preferred - Business, Natural Science and Computer Science majors (e.g. Economics, Mathematics, Statistics, Business, Engineering, etc.) with quantitative education/training is strongly recommended. (2) Citizen of Korea not held. (3) Government Officials - Minimum of 3 years in Ministry of Finance and Central/State Bank experience preferred. - Private sector employees are not eligible (4) English Proficiency - Applicants must meet one of the English proficiency test minimum score requirements: TOEFL ibt 83, TOEFL PBT 560, TOEFL CBT 220, IELTS 6.5, TEPS 599, TOEIC 720 or higher. - English proficiency tests should have been taken within two years from the deadline of the online application (valid test date: starting from September 21, 2013). - Institutional Testing Program (ITP) is not valid. - EPT report submission can be waived only for those who apply from a country where EPT is not available. In this case, applicants are required to submit an official letter from the minister or governor of one s affiliation guaranteeing one s English proficiency equivalent to the required scores listed above. 10 Program Information

PART III. HOW TO APPLY (5) Others - Be a citizen of the country which has a cooperative relationship with KOICA. - Be a government/municipality official or a researcher / an instructor in state institute working in his/her home country with a Bachelor s Degree or higher (Private sector employees are not eligible). - Have a good command of both spoken and written English to take classes conducted entirely in English and to be able to write academic reports and theses in English. - Be preferably under 40 years of age in good health, both physically and mentally, to complete the program. *Pregnancy is regarded as a disqualifying condition for participation in this program. * Having Tuberculosis or any kind of contagious disease is regarded as a disqualifying condition for participation in this program. - Not be a person who has withdrawn from KOICA s scholarship program. * Person belonging to the institution in which candidates submitted false documents and returned to his/her country arbitrarily in the middle of SP program cannot be applied - Have not participated in KOICA s scholarship program or any of the Korean government s Scholarship Program before (Master s degree program). Program Information 11

PART III. HOW TO APPLY 2. ADMISSION PROCESS Process Step 1. Application Package Submission Dates February 29/ 17:00 P.M. [Local time in Korea] Step 2. On-site Interview (KOICA) March 1 ~ 7 Step 3. 1 st Round Selection Process Document Screening Step 4. Online Application Process Step 5. 2 nd Round Selection Process Interview(University) March 15 ~ March 31 April 8 ~ 17 / 23:59 P.M. [Local time in Korea] April 18 ~ 29 Step 6. Medical Check-up (local) May 16 ~ June 17 Step 7. Admissions Notification June 30 The timeline in this table is based on local time in South Korea and subject to change. Post Admission Arrival in Korea Monday, August 22 KOICA Orientation Tuesday, August 23 KAIST Orientation Friday, August 26 First Day of Class Thursday, September 1 (1) application package submission - Prepare all required documents for your admission package and fill out the Document Checklist. Check whether all information is correct. - Submit the application package (including both KAIST and KOICA application forms and other required documents) to the regional KOICA office or Korean Embassy (if KOICA office is unavailable) by the submission date (February 11) - Scanned copies are acceptable but original copies should be sent to KAIST before the phone interviews. * Applicants who submit the scanned copies should send the original copies to KAIST personally. KOICA and the university do not pay postage costs for the late submission of original copies. 12 Program Information

PART III. HOW TO APPLY (2) on-site interview (koica) - Participate on-site interview by KOICA regional office or Korean Embassy. If an applicant lives in a country where the KOICA regional office/embassy does not exist or lives far from the capital city, he/she can be interviewed by phone after consulting with the KOICA regional office/embassy. (3) 1 st Round : Document screening - Applicants nominated by the regional KOICA office or Korean Embassy (if KOICA office is unavailable) as a result of on-site interview and have submitted their application packages are considered for document screening. - Document screening will be processed by KAIST. Application package as well as the on-site interview result will be thoroughly reviewed by Finance MBA Admission Committee of KAIST College of Business. - Every component included in the application package such as the reputation of undergraduate school, undergraduate GPA, English proficiency, current affiliation, working experience will be evenly evaluated. - The result for the 1 st round selection will be announced to the applicants and KOICA respectively. (4) Online Application Process-MandaTOry - Applicants who successfully pass the 1 st round need to go through online application. This should not take more than one hour since you have already completed filling out the KAIST application. You can just copy the contents to the online application. - The online application fee is waived for KOICA applicants. - The details of online application process will be announced to the applicants individually by KAIST. (5) 2 nd round : Interview (university) - An opportunity for a phone/video interview will be given only to those who pass through the 1st selection document screening successfully. - Details of the interview including the interviewee list will be sent to the regional KOICA offices and interview arrangements will be made respectively. Program Information 13

PART III. HOW TO APPLY - The phone interview schedule will be notified individually by the regional KOICA offices or Korean embassy with a 2~3-day notice in advance. (6) MEDICAL CHECK-UP (LOCAL) - Applicants who successfully pass the 2nd round need to receive an additional medical checkup at the local hospital designated by KOICA. The reservation of the hospital and related information will be notified to the applicants individually by an organization responsible for arranging checkup schedule (TBD). Medical checkup fees will be fully covered by KOICA but the transportation fee has to be covered by the applicants themselves (please remember that transportation and accommodation fees will NOT be reimbursed). - The medical check-up results will identify the applicants health conditions, and KOICA will verify factors that hamper the completion of the scholarship program. The final acceptance of the program will be confirmed after the medical checkup results are examined. - Upon request, individual medical checkup results can be provided by the KOICA program manager of KOICA HQ at least two weeks after the completion of medical checkup. - The status as the participant for KOICA SP will be finalized and the acceptance for the program will be confirmed after medical check-up. (7) Admissions Notification - Admissions results will be notified to the regional KOICA offices or Korean embassy. Registration instructions, course registration and other necessary steps will be guided to individuals 14 Program Information

PART III. HOW TO APPLY 3. REQUIRED DOCUMENTS 0.Document Checklist 1.Application Forms 2.Statement of Financial Resources 3.Recommendation Letters (TWO letters) Check all the documents you included in your admission package. (Form 0) Complete both KOICA and KAIST applications and print out. Should be clearly typed. (Form 1 and 2) Complete the form. (Form 3) 1) Two recommendation letters from your workplace supervisors are required. (Form 4) 2) Students recommended by a ministry or a central bank of developing countries should obtain both recommendation letters (signed and sealed) from his/her minister or the central bank governor endorsing the student and stating that the candidate will return to his/her workplace after completing her/his degree at KAIST. The letter must be written on a company letterhead showing the company s full address, telephone and email address. The letter must be stamped with the company s official seal. 3) Letters should be signed and sealed across the back of its envelope by a recommender. 4) We do not accept recommendation letters via email. 4. Degree/Diploma 1) An original copy of bachelor s degree certificate from every institution attended or attending are required. 2) If a degree certificate or degree is unavailable, submit an official letter from the university indicating the date of graduation and the degree conferred. 5. Transcripts 1) An original copy of transcript must include a year-by-year record of courses from every institution applicants have attended or are attending. 2) The transcripts should include a statement of personal rank in department, if available. 3) If the CGPA/maximum score does not appear on the transcript, please submit a proof letter certified by the university, if available. Original copy Original Copy Original Copy Original Copy Certified original copy with official seal from the Ministry of Foreign Affairs Certified original copy with official seal from the Ministry of Foreign Affairs Program Information 15

PART III. HOW TO APPLY 6. English Proficiency Test Reports (EPT) OR Official Letter from the Ministry 1) Applicants must meet one of the English proficiency test minimum score requirements: TOEFL ibt 83, TOEFL PBT 560, TOEFL CBT 220, IELTS 6.5, TEPS 599, TOEIC 720 or higher. 2) English proficiency tests should have been taken within two years from the deadline of the online application (valid test date: starting from September 21, 2013). 3) Institutional Testing Program (ITP) is not valid. 4) EPT report submission can be waived only for those who apply from a country where EPT is not available. In this case, applicants are required to submit an official letter (free style) from the minister or governor of one s affiliation which states that one s English proficiency is equivalent to the required scores listed in 1. Original Copy 7. Curriculum Vitae Free style personal résumé Copy 8. Copy of passport (applicant s) 9. Copy of identity documents II (parent s) A copy of passport (Include a copy of page showing the passport number, date of issue and expiration, photo, and name.) An official document indicating parents nationality, e.g. passports, national ID cards, etc. (Include a copy of the page showing the passport number, date of issue and expiration, photo, and name.) 10. Sworn Statement An official sworn statement indicating one s determination on completion of study at KAIST and recognition of the financial support status from KOICA and KAIST stated in Financing for KOICA- KAIST Scholarship Program in Program Contents should be signed. (Form 5) 11. Employment Certificate Optional 1. List of Honors and Awards An official document proving your work experiences which should include- duration of employment, position, and job description should appear on the certificate or letter. 1) If there is any honors, awards, fellowships, or academic certificates and test reports received previously from youruniversity please list them in order of importance in a list form. E.g. General Copy Copy Original Copy Original Copy Original Copy 16 Program Information

PART III. HOW TO APPLY Optional 2. School Profile/Credit Rating System Record Examination (GRE), Graduate Management Admissions Test (GMAT), Test of Proficiency in Korean (TOPIK), Korean Language Proficiency Test (KLPT), etc. (Form 6) 2) The list will be valid only when testimonials or evidences are submitted School profile and description of the grading system would help us understand better for evaluation. Original * Important Notes for All Applicants: 1. All forms should be typed in English and all the supporting documents should be in English. Documents in any other language should be accompanied by a notarized English translation. 2. Original documents should be submitted. Should they be unavailable, however, copies must be authorized by the originating institution before they are submitted. 3. If any of the submitted materials contain false information, admission will be rescinded. 4. Applicants whose forms and supporting documents are incomplete or unsatisfactory will be disqualified from the admission process. 5. Applicants should take full responsibility for any disadvantage due to the mistakes or omissions on the application. Program Information 17

PART IV. PROGRAM CONTENTS Part IV PROGRAM CONTENTS 1. ACADEMIC SCHEDULE KOICA KAIST Scholarship Program is run by half semester system. Each spring and winter semester consists of 16 weeks with 2 half semesters (8 weeks each). Summer and winter sessions are also run for 10 weeks from June to August and December to January. Year Semester Schedule 2016 2017 Arrival in Korea Aug. 22 Univ. Orientation & Check-in Aug. 26 Fall Spring Fall 1 st Half Sept. 1 ~ Oct. 26 2 nd Half Oct. 27 ~ Dec. 21 Winter Dec. 22 ~ Jan. 31 (2017) 1 st Half Feb. 01 ~ Mar. 24 2 nd Half Mar. 27 ~ May 19 Summer June 01 ~ Aug. 25 1 st Half Aug. 28 ~ Oct. 21 2 nd Half Oct. 24 ~ Dec. 16 Winter Dec. 19 ~ Jan. 31 (2017) 2018 Winter/Spring 1 st Half Dec. 21 ~ Feb. 28 * The above schedule is subject to change. Pre-Enrollment Session Schedule Date Time Content 10:00~12:00 Check-in Aug. 26 13:30~14:30 Student Lab Allocation (Fri.) 14:30~16:00 IT Training, IP Registration, etc. Aug. 29 (Mon.) Aug. 30 (Tue.) Aug. 31 (Wed.) 10:00~11:30 Welcoming Remark & Orientation 11:30~12:00 Library Training 13:30~16:00 Registration Process (Visa, opening bank account etc) 10:00~12:00 Mathematics I 14:00~16:00 Mathematics II 10:00~12:00 Statistics I 14:00~16:00 Statistics II 18 Program Information

PART IV. PROGRAM CONTENTS 2. ORIENTATION When you first arrive, there will be an orientation for 2-3 days for KOICA s Scholarship Program at the KOICA International Cooperation Center (ICC). The orientation aims to provide participants with useful information on the program as well as general information on living in Korea that is necessary during your stay. Usually, the orientation is composed of three parts: KOICA s welcoming session, a Seoul City Tour and a medical checkup. The order of each part is subject to change. Session Date Contents Arrival August 22, 2015 Arrival in Korea KOICA Orientation August 23, 2015 KOICA s welcoming session Medical Check-up August 24, 2015 Medical Check-up * Before the dormitory check-in, you will stay at KOICA International Cooperation Center (ICC). a. KOICA s welcoming session In the first part of the orientation, you will have a welcoming session which includes KOICA s welcoming reception, an introduction of KOICA and a course outline. Through this session, you can have an overview of the Scholarship Program. Lectures about Korean culture, as well as general information regarding daily life in Korea, will also be delivered in this session. b. Medical Check-up KOICA will implement a medical check-up after each participant s arrival in Korea to assure their health condition. After the medical check-up, KOICA will officially accept each participant as a KOICA trainee for the program. If any case which may hamper the scholarship in Korea is found in the medical check-up, the participant will be required to return home. Program Information 19

PART IV. PROGRAM CONTENTS 3. CURRICULUM a. Credit Requirement Students should complete 54 credits in total with completing Policy concentration, satisfying the following requirement for graduation and students can take 9~18 credits per 1 full semester. Degree Finance MBA (Thesis) General Requirement Major Requirement Major Elective Research Total 3, 1AU 12 30 9 54, 1AU b. Course Offering Semester Course Type Credits Course Fall 2015 Total: 15 Credits Mandatory 3 Financial Management Mandatory 1.5 Investment I Mandatory 1.5 Ethics and Social Responsibility of Finance Mandatory 1.5 Microanalysis of Financial Economics Mandatory 1.5 Financial Environment and Macroeconomy Mandatory 1.5 Money and Banking Mandatory 1.5 Monetary Policy Mandatory 3 Korean Language for Foreigners I Mandatory 3 Statistical Analysis for Finance Mandatory 3 Financial Accounting Mandatory 1.5 Financial Programming Spring 2016 Total: 15 Credits Mandatory 1.5 Policy Concentration 1 Mandatory 1.5 Policy Concentration 2 Elective 1.5 Major Elective 1 Summer 2016 Total: 1.5 Credits Fall 2016 Total: 13.5 credits English 0 Business English Presentation Mandatory 3 Korean Language for Foreigners II Elective 1.5 Major Elective 2 English 0 Business English Writing Mandatory 1.5 Financial Database Mandatory 1.5 Corporate Finance I Mandatory 1.5 Economic Strategy and Finance Elective 1.5 Policy Concentration 3 20 Program Information

PART IV. PROGRAM CONTENTS Semester Course Type Credits Course Elective 1.5 Major Elective 3 Elective 1.5 Major Elective 4 Elective 1.5 Major Elective 5 Elective 1.5 Major Elective 6 Spring 2017 Total: 9 Credits Elective 1.5 Major Elective 7 Research 9 Thesis c. Thesis Completion KOICA-KAIST scholarship program students are required to write thesis as their research in their last winter/spring semester (2018) at KAIST and complete it under the guidance of the assigned academic advisors. Thesis Schedule Sept. 2016~Feb. 2017 Mar. 2017~Aug. 2017 Sept. 2017~Dec. 2017 Jan.~Feb. 2018 Feb. 2018 Submit thesis plan Discuss and confirm thesis topic under the guidance of academic advisor; Related research, database, and references need to be prepared in order to finalize the topic. Conduct research and collect data by using Reuters Trading Center, KOSCOM Center, on and offline financial database in the library. Should be in the final stage of writing the thesis under the guidance of the academic advisor and a Ph.D. student. Thesis presentation and submit printed thesis. Program Information 21

PART IV. PROGRAM CONTENTS 4. EXTRACURRICULAR ACTIVITIES (TENTATIVE) a. KAIST Seminars KAIST college of Business offers all-year-round seminars-finance Seminar, Green Finance Seminar- in which distinguished scholars in the top universities as well as managers, CEOs, CIOs of leading finance institutions are invited to give lectures on the latest financial issues and case studies. All KAIST students are free to join the seminars on their choice and get a real industry experience in a lecture room. KAIST also organizes special seminars for KOICA scholars to visit major finance institutions in Korea and participate in different seminar topics. Date Activity October 2016 Korea Exchange - Topic: Stock Exchange and market January 2017 Korea Development Bank - Topic: SOE Operations and management March 2017 May 2017 August 2017 Financial Services Commission - Monetary Policy Bank of Korea - Designing Finance Payment System for national/central banks in emerging countries Korea Investment Corporation - National Fund Operations Above schedule is subject to change b. Company and Site visits KAIST offers a chance to experience and learn about the history of outstanding industrial growth of Korea by industrial visits and field trips to IT & manufacturing work-site and museums. 22 Program Information

PART IV. PROGRAM CONTENTS c. Networking Events KAIST college of Business offers various networking events as below: Date Activity Aug. 2016 Orientation & Welcome Luncheon Sept. 2016 KGSF Workshop Dec. 2016 Cultural Activity 1 (Mask Making, trying on hanbok, etc.) Feb. 2017 KGSF Workshop Apr. 2017 KAIST Sports Day Jun. 2017 Cultural Activity 2 (Soccer, baseball, etc.) Jul. 2017 Cultural Activity 3 (Craft making, etc.) Program Information 23

PART IV. PROGRAM CONTENTS Date Activity Sept. 2017 KGSF Workshop Feb. 2017 KGSF Workshop d. Cultural Events KAIST College of Business offers various kinds of cultural events as below; 1) Art Exhibition Throughout a year, an art exhibition opens at Atrium Hall 3~4 times. Inviting an artist of the exhibition and having a presentation session on his/her art work, this art exhibition has become an interactive event where the art and business education meet. 2) Sports Day Every spring semester, Sports Day is held where all KAIST College of Business members builds team work skills and social network through sport games and other activities. 3) Student Festival Student Festival is held every fall semester which offers an entertaining & exciting experience of Korean festival culture. 4) Graduate School of Finance Workshop GSF workshop is held every spring and fall semester to help students bond together outside of school and offer a chance to meet KAIST alumni taking a successful career path after graduation. 24 Program Information

PART V. TRAINING INSTITUTE Part V TRAINING INSTITUTE 1. GENERAL INFORMAION KAIST College of Business is a highly respected graduate school with a stellar reputation in Korea and throughout the world for research and teaching in technology-based management. The school was founded in 1996 as the first full-time MBA program in Korea. KAIST College of Business formed three individual schools and 6 MBA programs with different focus of study under its umbrella; Schools Graduate School of Finance (Finance MBA) Graduate School of Management (Techno-MBA, IMBA, Executive MBA) Graduate School of Information & Media Management (Information & Media MBA) Graduate School of Green Growth (Green MBA)) Programs KAIST MBA program have been globally recognized as one of the top MBA programs as it achieved AACSB (2003 & 2008) and EQUIS accreditation (2010). Based on this global recognition, KAIST MBA program became the 1 st MBA program in Korea which entered among the top 100 Global FT Ranking. Each MBA program offers rigorous academic and applied courses along with extensive international exposure so that students can better deal with the future competitive environment. Finance MBA Techno MBA IMBA Executive MBA Information & Media MBA Green MBA Program Information 25

PART V. TRAINING INSTITUTE KOICA-KAIST Scholarship program falls under Finance MBA program, Graduate School of Finance. Especially, in pursuit of training global financial leaders, Finance MBA program focuses on curriculum to strengthen analysis-ability based on mathematics, statistics, and up-to-date financial strategy. The curriculum is created to enable students to succeed in any industry and to reflect both a practical and theoretical discipline. A wide range of modules and electives are available to give the student the flexibility to select one or more areas of expertise for development through completion of tracks on students choice. Growth to Globalization 2013: Ranked 17th-Financial Markets, Eduniversal Best Masters 2013-2014 2011: Ranked 99th -Financial Times Global MBA Rankings 2011 2010: EQUIS Accredited 2010: Joined GMAC 2010: Continue on Partnership with World Economic Forum 2009: Ranked 45th-Financial Times Executive Education Rankings 2009 2009: Continue on Partnership with World Economic Forum 2008: AACSB Reaccredited 2008: Appointed as Korean Partner School by World Economic Forum 2008: Joined UN Global Compact 2006: Ranked 13th in Information System Research Industry 2004: Found AAPBS (Association of Asia- Pacific Business Schools) 2003: AACSB Accredited 26 Program Information

PART V. TRAINING INSTITUTE Campus Map of KAIST College of Business (Seoul Campus) School Administrations Dean Chair Professor of Finance MBA Finance MBA administration Staff Prof. Dongsuk Kim Prof. Jangkoo Kang Ms. Sunhee Joo Ms. Jihye Kim Contact Ms. Jihye Kim jaimekim@business.kaist.ac.kr +82-2-958-3123 Ms. Sunhee Joo shjoo2006@business.kaist.ac.kr +82-2-958-3121 Program Information 27

PART V. TRAINING INSTITUTE 2. ACCOMMODATION KAIST Business School students board at the dormitories on campus. The three dorm buildings, Pajung Hall, Sojung Hall and Haejung Hall are all located a few feet from each other and near the main buildings of the campus. KAIST Business School students reside mainly in the Pajung Hall. The first floor is divided into the East Wing, West Wing and Mechanical Room. The second floor through the sixth floor is divided into the East, West, and North Wing. The dorm rooms are designed for double occupancy and there are no single rooms available. Please consider this factor prior to applying. Each person is provided with a desk, a bed and a wardrobe. FACILITIES Kitchen Room The Kitchen room is located on the 7 th floor and equipped with a microwave and sink. Dormitory Lounge The dormitory lounge is located on the 7 th floor with television and drinks vending machine. Telephones Telephones are available but it only providesreceiving incoming calls and making inter-campus calls. In order to make a call, the student must use the public phones located inside the building. 28 Program Information

PART V. TRAINING INSTITUTE Housekeeping Residents are responsible for keeping their rooms clean and expected to pick up after themselves when using public areas. The housekeeping staff is responsible for cleaning public areas. Bed Linen Students are responsible for preparing bed linens. Air Conditioning Residents have personal access to Air Conditioner in the room. Laundry Facilities Washing machines are available on each floor free of charge. However, you need to buy your own detergent, fabric softener and any other personal items. Dryers are available and cost 500 won per use. An iron and ironing board are in the room located opposite the laundry. Electronic Devices It is strictly prohibited to have electronic appliances (except for refrigerators) such as microwaves and hot pots in the dormitory rooms. The voltage used in Korea is 220-V. Program Information 29

PART V. TRAINING INSTITUTE 3. OTHER INFORMATION a. School Facilities There are 3 main buildings that facilitates students academic woks as well as campus life, which are SUPEX Management Complex, Union Building and Building #7. Classrooms, labs and other major facilities are located in the SUPEX Management Complex, cafeteria and convenience stores in Union Building and gym and other sports facilities in Building #7. SUPEX Building Overview of SUPEX Management Complex 5 F Chey Jong Hyun Hall, Student Labs, Student Lounge, Student Mailroom 4 F 3 F 2 F 1F Career Development Center (450), Research Centers, Faculty Offices, Lecture Rooms, International Center (446), Students Labs Trading Room, Executive Program Offices, Student Labs, Faculty Lounge, Faculty Offices, Lecture Rooms, Seminar Rooms Atrium, Finance MBA Office (247), Techno MBA Office (244), Management Engineering Office (281), Information Media& Management MBA Office (225), Faculty Offices, Lecture Rooms Center for Information and Network Services, A/V Main Control, Lecture Rooms, Student Clubs, Digital Library (Cyber Hall) Library (1 st floor, SUPEX Building) Unlike traditional libraries, the KAIST Business School s student library is a digital multi-media library. This gives students and faculty members the advantage of being able to obtain necessary resources in the comfort of one s computer at home. The digital library is joined with the Cyber Hall, a facility where students have access to Internet 24 hours a day. - Operating Hours : Monday ~ Sunday, 9:00 a.m. - 2:00 a.m. (Closed on holidays) 30 Program Information

PART V. TRAINING INSTITUTE Atrium (2 nd floor, SUPEX Building) Atrium is a Café and restaurant for all members of KAIST College of Business members. Students not only can have food and drinks, they also can enjoy culture events like music club performance, auction event, etc. as well as join academic events such as dean s luncheon, scholarship award ceremony, etc. - Operating Hours: Monday ~ Saturday, 8:00 a.m. ~ 9:00 p.m. (Closed on holidays) Trading Room (SUPEX 344) Trading Room is a "playground" for students where they freely preform financial exercises. It offers cutting edge A/V system, information data and facility that are equivalent to current finance industry. The service includes WRDS, CRSP, S&P, Compustat, BVD, Thomson, Option Metrix that are vital for empirical analysis on finance, real-time information terminal of Reuters, Datastream, Bloomberg, etc. International Center (SUPEX 446) The International Center coordinates exchange & overseas programs and provides students with the opportunity to develop global perspectives. It also offers language programs to enhance students' English proficiency skills. The International Center welcomes all international students for any inquiries about the programs and administrative issues and aims to enhance their overseas experience at KAIST Business School students. Program Information 31

PART V. TRAINING INSTITUTE Career Development Center (S450) (1) Company Presentations A wide variety of companies hold presentations on campus ranging from industries to well-known consulting companies. (2) Career Fair Every September, many domestic and multinational companies join this job fair event for recruiting. We strongly recommend that you participate in this event. (3) Self-Assessment Our Career Leader program focuses on discovering your interests, abilities, and values, and then suggests potential career pathways and profiles. (4) E-Newsletter You can get this letter from CDC every Thursday for information on job recruiting. (5) Posted Jobs We update this information every day. Please visit the CDC website: http://business.kaist.ac.kr/job. (6) 1-1 Coaching Service: - Career Services offers individualized one-on-one coaching, depending on your individual needs. This coaching provides you with access to outstanding job search strategies so that you can develop a solid skill set to take you wherever you want to go skills that you will utilize throughout your career. (7) Program Materials Career Services provides materials so that you can develop a solid set of skills that you will utilize throughout your career. These materials include resume preparation, job searching, networking, interviewing, as well as other pertinent information. 32 Program Information

PART V. TRAINING INSTITUTE Union Building & Building #7 Student Cafeteria (2 nd floor, Union Building) Student cafeteria serves Korean traditional/ international dishes 3 times a daybreakfast, lunch, dinner) as well as Korean snacks (Kimbab, Ramen, etc.) during the designated hours. Additionally, the Faculty Restaurant is on the 4 th floor of the same building. - Operating Hours Student Cafeteria Faculty Restaurant Breakfast 07:45 a.m. ~ 09:30 a.m. Not in service Lunch 11:15 a.m. ~ 01:30 p.m. 12:00 p.m. ~ 01:30 p.m. Dinner 05:30 p.m. ~ 07:30 p.m. Not in service Breakfast costs 2,000won, whereas lunch and dinner are 3,000won per meal. Meal tickets must be purchased for lunch and dinner as cash payments are not accepted except for breakfast. If you buy more than 10 tickets at once, you may use credit cards. Health Center (2 nd floor, Union Building) The Health Center is located right beside the student cafeteria. It provides medication for minor illness and injuries. There is nominal fee for purchase of medication. - Operating Hours: Monday Friday,10:00 a.m. - 05:00 p.m. Bookstore (3 rd floor, Union Building) Students are able to purchase textbooks that are needed in class at Sejong Book Store, located on the 3rd floor of Union Building. It is a good idea to ask your professors which books are absolutely essential for class. - Operating Hours: Monday Friday, 9:00 a.m. ~ 6:00 p.m. Program Information 33

PART V. TRAINING INSTITUTE Post Office (3 rd floor, Union Building) Students can send letters and packages at the campus Post Office located on the third floor. - Operating Hours: Monday Friday, 9:00 a.m. ~ 6:00 p.m. Woori Bank (3 rd floor, Union Building) Students are recommended to open a bank account at a nearby bank or campus bank upon arrival. A branch of Woori Bank is located inside school and the customer service representative offers accounting opening and other transaction services during the designated hours. English service ATM is also available. - Customer Representative Hours: Monday Friday, 9:30 a.m. 10:20 a.m. & 2:30 p.m. - 3:20 p.m. - Bank Customer Representatives (080-365-5000): Monday- Friday from 9:30 a.m. to 5:30 p.m. Convenience Store (3 rd floor, Union Building) Snacks, stationary supplies, personal care goods and telephone cards are available with a cozy lounge for a study break and relaxation. - Operating hours: Monday Friday, 8:00 a.m. - 11:00 p.m. Saturday, 8:00 a.m. - 07:30 p.m. Sport Facilities (Building #7) There are tennis and basketball courts near the dormitories and in-door fitness center located on the 1 st floor of Building 9 which is connected to SUPEX building. In addition, the newly built golf range is located on the ground floor of the Administration building and this facility is open to registered members. 34 Program Information

PART V. TRAINING INSTITUTE b. General Student Service Student Lab KAIST College of Business School is the one and only graduate school in the world which offers individual student labs open for 24 hours. Approximately 10 students are assigned to each lab and all Finance MBA student labs are located right across the Finance MBA faculty offices for interaction. Mentor Program Mentor Program is offered to assist international students to adjust into to their new environment at KAIST College of Business and Korea. The mentor is a volunteer student, usually in the same student lab with the mentee, and she/he will be responsible for helping international students to cope with cultural and academic issues. ID / IC Card All degree program students get ID/IC card for entering school gates, dorms, library, etc. This can be used as Woori bank check card as well. Students have to fill in application form for ID/IC card with the help of Finance MBA staff and it takes 7 ~ 10 days to issue it. Computer & Internet access Services regarding computer installation and hardware problems are offered by on campus LG C&S branch and services regarding KAIST intra programs and internet networks are offered by the Help Desk at the Computer & Information Network Service Center located on the 1 st floor of SUPEX Management Building. Wireless internet service is available inside the school and students are required to log in using their personal KAIST ID and password assigned to them. Email (Outlook) Individual KAIST email account (Outlook) is open to every degree program students of KAIST College of Business. All announcements related to important dates are made via email in Eng. and students have access to the KAIST public folder (which is shared by all KAIST members) through the Outlook system. Program Information 35

PART V. TRAINING INSTITUTE c. How to get to KAIST College of Business School KAIST Business School is located in the northeastern part of Seoul neighboring with 4 universities and 5 research institutes. Below is the map to the school and information on the nearest subway station. Closest Subway Stations Line 1 Heogi (15 min walk) - At the exit #1, you can see the local bus station. - Take local bus #1 (fee: KRW 850) and get off the bus at next station. Then you can see Coffee Bean and Burger King across the road. - Walk along the road between Coffee Bean and Burger King until the road ends (less than 5 minutes), you can find the gate to KAIST Business School. Line 6 Korea University (15 min walk, 5 min by taxi) Line 6 Anam Station - At the exit #2, you can fine the local bus station. - Take the Blue Bus #273 (fee: KRW 1,150) and get off the bus at Hongneong Elementary School 36 Program Information

PART VI. SUPPORT SERVICE Part VI SUPPORT SERVICE 1. TRAVEL TO KOREA KOICA arranges and pays for the participant s round trip to Korea. The participant is to travel by the most direct route between Incheon International Airport and a main international airport in the participant s home country. KOICA will cover economy class, round-trip airfare. If a participant wants to change the flight itineraries, they should pay the additional airfare. The participant is responsible for the issuance of an appropriate visa (which must be the Study Abroad Visa [D-2]) necessary for this Scholarship Program. Should the participant be unable to get the appropriate visa before the date of entrance, KOICA is unable to provide any assistance and, if it proves necessary, participants may have to return to their respective countries to get the visa issued at their own expense. 2. EXPENSES FOR STUDY AND LIVING The following expenses will be covered by KOICA during the participant s stay in Korea. - Tuition fee - Accommodation sharing a room basis (mainly the dormitory of a training institute) - Living & Meal allowance: KRW 999,000 per month - A medical checkup after arrival and during the summer in the following year - Overseas travel insurance, etc. KOICA supports the full tuition fee, full dorm residence fee and certain amount of living expenses (meals and other daily expenses) for the first 3 semesters (2016 Fall~2017 Fall) of KOICA-KAIST scholarship program. KAIST covers the full tuition fee, full dorm residence fee and living expenses for the last semester (2018 Winter/Spring). Program Information 37

PART VI. SUPPORT SERVICE (Unit: KRW) Tuition Fee Dorm Fee Living Expenses 15,910,000/semester 150,000~170,000/month 999,000/month In addition, participants may be invited to a special event organized by KOICA with the aim of promoting friendship among each other and understanding about Korea during the program. 3. INSURANCE During the program participants will be covered by the New group accident insurance (2). The insurance covers expenses for medical treatment and hospital care caused by diseases or accidents within the scope and limit of insurance coverage. Participants should first pay by themselves and then be reimbursed for the expenses later, on the condition that the case falls under the coverage of the insurance. Limits of Coverage (subject to change) - Death or Permanent Disability by Accident: KRW 100 million - Medical Expenses by Accident: KRW 50 million - Medical Expenses by Disease: KRW 50 million - Death by Disease: KRW 100 million - Liability: KRW 10 million (deductible: KRW 200,000) Main Scope of Coverage - Death or Permanent Disability by Accident & Death by Disease: The insurance shall pay the insurance money up to the above limit. - Medical Expenses by Disease and Accident: The insurance shall cover the medical expenses at actual cost within the limit of the medical insurance subscription amount per case (for details, refer to the insurance policy) - Medical checkup at the participant s option and the fee for a medical certificate and diseases caused by pre-existing medical conditions, etc. are not covered by the insurance. The insurance coverage is limited to the treatment incurred within Korea. 38 Program Information

PART VI. SUPPORT SERVICE Deductibles (Insured persons are responsible for deductibles, as described below.) 1) Maximum Coverage Limit per Day Outpatient services: KRW 250,000 Medicine: KRW 50,000 2) Deductible per day (outpatient) Clinic: KRW 10,000 Hospital: KRW 15,000 University hospital, level 3 hospital: KRW 20,000 3) Deductible per day (medicine): KRW 8,000 4) Dentistry and Oriental (Chinese) medicine: Uninsured items and prosthetic dentistry 5) Hospital treatment The beneficiary is responsible for 10% of the costs. 6) Orthopedics Equipment and consumables (e.g., wristbands and cast shoes) 7) Fees for issue of certificates 8) In the case of uninsured items and material costs, a detailed statement must be submitted. 9) Receipts from medical institutions or pharmacies must be submitted. Credit card receipts will not be accepted. Procedures, Services and Diseases Not Covered by the Insurance 1) Medical check-up, vaccination, nutritional supplements, and tonic medicines 2) Mental disease and behavior disorder 3) Dental care To receive dental care, prior consultation with the coordinator of KOICA is required. 4) Congenital cerebropathy 5) Herbal remedies 6) Obesity 7) Urinary diseases: Hematuria and urinary incontinence 8) Diseases of the rectum and anus 9) Tiredness and fatigue Program Information 39

PART VI. SUPPORT SERVICE 10) Freckles, hirsutism, atrichia, canities, mole, wart, pimple, and skin ailments such as hair loss due to aging 11) Medical expenses caused by treatments for enhancing appearance (e.g., double-eyelid surgery) 12) Costs that are not related to treatments and medical check-up costs that are not related to a doctor s diagnosis. 13) Diseases that participants already had before arrival in Korea 40 Program Information

PART VII. REGULATIONS Part VII REGULATIONS 1. ACADEMIC REGULATION a. Attendance and Absenteeism 1. Students are expected to attend all of the classes he/she has registered for each semester. Any student who, without good reason, has failed to attend class for at least one-third of the total classes shall be prohibited from sitting for the exam. 2. In the event a student will be absent for any of the reasons below, the student must notify the appropriate department, faculty, and dean and get approval in advance: - Death of an immediate family member (grandparents, parents, siblings) or equivalent circumstance - Academic planning, field-trips, on-location training, etc. - Participation in seminars or conferences (including international ones) as approved by the Graduate School Dean - Other events as approved by the Graduate School Dean 3. In the event of student illness or emergency situations, students who will be absent for less than seven days (including holidays and weekend days) need to submit written notification of such absence to the Graduate School Dean. For absences longer than seven days, students must submit a written diagnosis by a physician. b. Must reside in a dormitory - Students must reside in Graduate Students Dormitory of KAIST College of Business unless there is no vacancy in the dormitory. All rooms are double occupant and single rooms are unavailable. If there is no vacancy in the dormitory, KAIST and KOICA will arrange alternative accommodations. Program Information 41

PART VII. REGULATIONS c. Must reside abide by dormitory regulations - KAIST College of Business has very strict dormitory regulations and all students must abide by them. - A student who violates dormitory regulations will be evicted from the dormitory and he/she must return to her country immediately. d. Light meals can be cooked in the shared kitchen - Heating stove, fridge, microwave, sink and other basic facilities are installed. - The kitchen needs to be in order and be cleaned by individuals who use the common area. Those who fail to maintain the kitchen tidy and neat will be given warnings. Three warnings will lead to a restriction in using the kitchen. - Cooking inside the dormitory room is prohibited at all times. e. Examinations and Grade Evaluations 1. Minimum Grade Point Average Requirement - Anything below GPA 2.5 will be subject to academic warning. If students get GPA below 2.5 for 2 times, students will be expelled from school. 2. Regular Exams and Make-up Exams - Regular Exams: Mid-term (8th week), Final (End of semester) - Make-up Exams: In the event a student cannot sit for an exam due to military service, illness, or any other emergency, the student must notify the faculty before the test date, and obtain the approval from academic advisor and chair professor of Finance MBA to sit for the exam at another time. 3. Qualifications to Sit for an Exam - Any student who, without good reason, has failed to attend class for at least onethird of the total classes shall be prohibited from sitting for the exam. In the event of illness or emergency situations, students need to provide a written explanation of their absence. 42 Program Information

PART VII. REGULATIONS 4. Scholastic Performance Evaluation Method - Scholastic performance will be based on GPA 4.3 for each course registered. Grades will be based on classroom performance (presentations, attendance) and test performance (mid-term and final exams). - Grades will be calculated on a curve as follows: - A+ to A-: 40% of the students in the class - Below B+:60% of the students in the class 5. Evaluation Standard: Evaluation Ranking GPA 4.3 4.0 3.7 3.3 3.0 2.7 2.3 2.0 1.7 1.3 1.0 0.7 0.0 Grade A+ A A- B+ B B- C+ C C- D+ D D- F Program Information 43

PART VII. REGULATIONS 2. PARTICIPANT S RESPONSIBILITIES Participants are required - to take up the scholarship in the academic year for which it is offered (deferral is not allowed). - to follow the training program to the best of their ability and abide by the rules of the training institute and KOICA. - to reside in the accommodation designated by the training institute for the duration of the course except for holidays or temporary leave. - to maintain an appropriate study load and achieve satisfactory academic progress for the course. If the participant fails to attain certain grades required by the university, his or her status as a KOICA program participant may be suspended. - to participate in all activities associated with the approved course of study including all lectures and tutorials, submit all work required for the course and sit for examinations unless approved otherwise by the training institute in advance. - to notify the training institute in advance and get an approval for temporary leave. - to advise KOICA and the training institute of any personal or family circumstances such as health problems or family problems which may seriously affect their study. - to refrain from engaging in political activities or any form of employment for profit or gain. - to agree to KOICA collecting information concerning them and passing that information onto other relevant parties, if necessary. - to return to their home country upon completion of their training program. - not to extend the length of their training program or stay for personal convenience; neither KOICA nor the university will provide any assistance and be responsible for extension of their stay. 44 Program Information

PART VII. REGULATIONS 3. WITHDRAWAL - In principle, a participant is not allowed to withdraw from the course at his or her own option once the course starts. - A participant may withdraw with valid personal or home country s reasons (such as health or work issues) when acceptable to KOICA. In this case, he/she is not allowed to re-apply for KOICA s scholarship program for the next two years after the withdrawal. - If a participant fails to attain certain grades required by the training institute, he or she may be forced to withdraw and return home upon withdrawal. In this case, he/she is not allowed to re-apply for KOICA s scholarship program. - A participant who has withdrawn is not allowed to re-apply for KOICA s scholarship program for the next two years after the withdrawal. - The participant who withdraws must return to the training institute the living allowance he or she has already received for the remaining period from the date of departure from Korea. 4. TEMPORARY LEAVE - Participants may take a temporary leave during the school vacation (to the participants home country or for a trip abroad) under the condition that the trip does not affect their schoolwork and as long as they notify the university in advance. - KOICA and the university will not pay the airfare for the trip and his or her living allowance will be suspended from the day of departure to the day of return during temporary leave. - If the participant is found to have made an unreported temporary visit to his or her home country or traveled to other countries or made a trip despite the university s disapproval, he or she may be suspended from the KOICA scholarship. Program Information 45

PART VII. REGULATIONS 5. ACCOMPANYING OR INVITING FAMILY - As KOICA s Scholarship Program is a very intensive program which requires full commitment to and concentrated effort for study, participants CAN NOT bring any family members. - KOICA does not provide any financial or other administrative support for the dependents of the participants. - If a participant invites family members within the duration of one month, one must take a full responsibility related to their family members travel to and stay in Korea including administrative and financial support as well as legal matters in Korea. The participant is required to sign and submit the Written Pledge with supporting documents by acknowledging their responsibility and conditions of brining their family members in Korea in advance. A copy of the Written Pledge is available at University Office. 6. OTHERS - KOICA will assume any responsibility only within the limit and scope of the insurance for participants. - KOICA is not liable for any damage or loss of the participant s personal property. - KOICA will not assume any responsibility for illness, injury, or death of the participants arising from extracurricular activities, willful misconduct, or undisclosed pre-existing medical conditions. - If the participants violate any of the rules of KOICA and the training institute during their stay in Korea, their status as a KOICA program participant may be suspended. 46 Program Information

PART VIII. CONTACTS Part VIII CONTACTS 1. CONTACT INFORMATION a. Korea International Cooperation Agency (KOICA) Program Manager: Ms. Hyungwon LEE Capacity Development Program Team Capacity Development Department Address: 825 Daewangpangyo-ro, Sujeong-gu, Seongnam-Si, 13449 Gyeonggi-do Republic of Korea Tel: +82-31-740-0419 Fax: +82-31-740-0684 E-mail: leeh@koica.go.kr Homepage: http://www.koica.go.kr Program Coordinator: Ms. Minha BAI Tel: +82-31-8017-2660 Fax: +82-31-8017-2680 E-mail: minha0422@global-inepa.org b. Finance MBA Office, KAIST College of Business Training Manager: Ms. Jaime KIM Tel: +82-2-958-3123 Fax: +82-2-958-3160 Email: jaimekim@business.kaist.ac.kr Homepage: http://www.business.kaist.ac.kr Program Information 47

APPENDIX. Fellows Facebook & Twitter Appendix. facebook.com/koica.icc The Fellows Facebook is a place for fellows to ask questions and write comments on KOICA fellowship programs. So, if you have questions regarding our program, please feel free to join our Facebook community. twitter.com/koica.icc Do you have a Twitter account? It seems everyone does these days. If you have a Twitter account, be sure to follow us @koica_icc 48 Program Information

[FMB 500E]: Statistical Analysis for Finance [MGT 503 EB]: Management Statistical Analysis Professor Byung Chun Kim (bckim@business.kaist.ac.kr) Business School KAIST

Syllabus Lecturer: Kim Byung Chun :X-3699 T.A.: Ms. Jae sun Yun :X-3697 Lecture Hour: Mon,Wed 13:00~14:20 Office Hour: Mon ~ Fri 14:00~17:00 Software: Excel, JMP, SAS Evaluation: Homework & Quiz: 15%, Midterm:35%, Final: 50% Midterm Exam: March 23(Mon) 19:00~ 22:00 Final Exam: May 18(Mon) 19:00 ~ 22:00 You can bring your notebook in the exam.

Text Book: Business Statistics: Communicating with Numbers, Jaggia & Kelly, 2013, McGraw - Hill Reference: Statistics For Business and Economics, David R. Anderson, Dennis J. Sweeney & Thomas A. Williams, 11 th Ed., 2011, South- Western

Schedule week contents Software 1 Data and Statistics, Descriptive Statistics, Graphical EXCEL, JMP Presentation 2 Descriptive Statistics II: Numerical Methods. EXCEL, JMP Introduction to Probability 3 Discrete Probability Distributions, Random Variables EXCEL, JMP 4 Continuous Probability Distributions, Random Variables EXCEL, JMP 5 Sampling and Sampling Distributions EXCEL, JMP 6 Point & Interval Estimation EXCEL, JMP 7 Hypothesis Testing EXCEL, JMP 8 Midterm Exam.: March 23(Mon) 19:00~

Schedule week contents Software 9 Point & Interval Estimation, Hypothesis Testing EXCEL, JMP 10 Hypothesis Testing EXCEL, JMP 11 Statistical Inference about Means with Two Populations EXCEL, JMP 12 Inferences about Two Population Variance, Goodness of EXCEL, JMP Fit Test, ANOVA 13 Simple Regression EXCEL, JMP 14 Simple regression, Multiple Regression EXCEL, JMP, SAS 15 Multiple Regression Analysis: Model Building EXCEL, JMP, SAS 16 Final Examination: May 18 (Mon) 19:00~ Final Exam

Class Syllabus Corporate Financial Policy 501.E Professor: Martin J. Dierker, Ph.D. Office: S.226, Telephone 958-3415 Email: dierkerm@business.kaist.ac.kr Time and Location: TBA Teaching Assistants: TBA Office Hours: Monday, Wednesday 11:30-12:30 (other times by appointment) Note that this syllabus is tentative and changes can be announced in class anytime I also welcome class suggestions to improve the learning experience Course Description: This course introduces the students to the foundations of finance, mainly from the perspective of a corporation. The main questions we will discuss are What (long-term) investments a firm should engage in? (capital budgeting) How the firm should finance these investments? (capital structure) To address the first question, we will introduce the concepts of cash flow and the cost of capital, which will be combined to engage in discounted cash flow (DCF) valuation. For the second question, we will discuss the indifference of capital sources in the world of Modigliani-Miller, and why capital structure matters in the real world. We then proceed to study how taxes and bankruptcy costs affect target leverage rates for a publicly traded corporation, and will also cover the pecking order theory. See page 3 of the syllabus for more details. Course Objectives and Special Features: The main objective of the course is to get an appreciation for the terribly difficult challenges modern corporations face. Critical, independent thinking is far more than important than passive memorization of course lectures or (mathematical) methods. The official course language is English. A significant focus of this class is on verbal discussions in the class room. It is not necessary to be perfect in English instead you should aim to present yourself in a confident, professional way in English. This includes being clearly understood by your teacher and classmates. The instructor wants to encourage active participation in class. Class Reading: The textbook for this class is Corporate Finance by Ross, Westerfield, and Jaffe. The book is currently available in the 9 th edition. Note that the international edition is available here in Korea and is significantly cheaper. Please note that there are several similar books, so check to buy the right one. You must have access to the book, but do not need to own it. The class will cover the

initial 17 chapters in the textbook. The students need to read the relevant chapters in the textbook in advance and participate in class discussions. You can also use a Korean textbook for studying. In addition, it is recommended that students read some English language financial publications. Recommended choices are: The Wall Street Journal (U.S. focus), Financial Times (European focus), and The Economist magazine (British magazine with excellent in-depth articles on business, economics, and financial markets). Such reading will be helpful to your understanding of finance, and also increase your value in the job market. Grading: The final grade will be determined as follows: Participation in class discussions and homeworks 15% Midterm exam: 25% Final exam: 35% Group work (1 case study project with group presentation and one or two group data analysis projects) 25% One midterm and one final exam will be held for this course. Not attending exams is only permissible for medical reasons (bring doctor s note, which can be in Korean). Exams are closed book, and the only tool allowed is a calculator. Exams require you to explain your thought process calculating numbers is not sufficient. The grading reflects emphasis on discussion and presentations. I intend to hold the class not with too much lecturing, but hope for a lot of interactive discussions. Students may be called upon to answer questions or express their opinion. The textbook material is not definitive, but open to debate. I value independent thinking is emphasized, while memorizing or repeating the textbook is not sufficient. Grade distribution: A: around 35-45%, B around 45-55%, C and below 0-10%. Towards the end of the semester, we will engage in a case study project. Students should form their own teams (or will be assigned to teams) and prepare a short written summary. In addition, each team will present in class. Both content and style of the presentation will be graded. I also include 1-2 data analysis projects which show you how class material is applied in quantitative research in the financial services industry. Course Policies: Attendance: You are responsible to attend class regularly. You will not be able to learn and participate in discussions without regular attendance. Note that the instructor aims to present the material from a slightly different angle than the textbook. Please also interact with your classmates, both Korean and international.

Assignments: About five assignments will be made by the instructor. They will be graded on the basis of check-plus, check, check-minus. The main purpose of the assignments is to provide some practice for the exams. You need to follow general KAIST classroom policies, including policies on academic honesty. Students guilty of cheating in an exam or showing plagiarism in writing reports will receive an F in the course and whatever additional disciplinary action the University imposes. If you are uncertain about any rules, you must ask about them in advance or you will receive a grade of F if you break the rules. If you have any personal problems, please talk to the instructor early. Tentative Schedule of Topics: Topic Reading 1. Introduction to corporate finance ch. 1 2. Accounting and finance: From earnings to cash flows ch. 2 3. Time value of money and NPV ch. 4 4. Basic valuation of bonds and stocks ch. 8, 9 5. Alternative Investment rules ch. 5 6. Capital budgeting and discounted cash flow valuation ch. 6 7. Corporate Strategy, flexibility, real options, and NPV ch. 7, notes Midterm: Last week in March (23 th or 25 th ), with preparation session in advance 8. Risk, return, and the CAPM ch. 10, 11 9. The CAPM and the cost of equity capital, WACC, and corporate finance applications ch. 13 10. Market (in-)efficiency (time permitting) ch. 14 11. Capital structure ch. 16, 17 Case study report due and in class presentations: May 4-8 12. An alternative to WACC: APV (time permitting) ch. 18 13. Short-term financing and cash management ch. 26, 27 Final exam: May 18 th or 20 st (with preparation session in advance) Note: This class is the basic finance class with focus on the perspective of corporations. Our insights depend on important issues that we will only cover on an intuitive level, such as the functioning of asset markets (CAPM) and the (in-) efficiency of these markets (ch. 14). Both will be analyzed more deeply in your investments class. Short-term financing and cash management is discussed from a purely applied perspective.

Investments FMB506E & FMB507E (Syllabus as of: Jun. 24, 2015) Professor: Kyoungwon Seo Fall 2015 Time: 10am 11:20am, Mon&Wed Office Hour: By appointment Office: S392 E-mail: kseo@kaist.ac.kr Classroom: TBA Teaching Assistant: TBA TA Office Hour: By appointment Overview This course introduces students to basic and up-to-date investment theories in finance and their empirical evidence that are of practical value. The topics to be covered include standard asset pricing models and portfolio management. FMB507E (for the latter half of the semester) requires knowledge of FMB506E, in particular, the Mutual Fund Theorem, the CAPM, the APT and skills of handling software to apply the theories to the real world. Text Bodie, Z., Kane, A., and Marcus, A.J., Investments and Portfolio Management, 9th Edition (Global Edition), McGraw-Hill. Grading (for each of FMB506E and FMB507E) Final: 70% Assignment: 20% Attendance & participation: 10% Exam The midterm (week 8) and final (week 16) exams are in class, closed-book and timed. The final exam is cumulative. The time and place will be announced. Assignments You are expected to hand in hard copies of your assignments. The main purpose of the assignments is not to evaluate you but to help you understand the material. So, you are encouraged to discuss the assignments with, teach and learn from each other. However, the final draft to submit must be your own work. Grading the assignments will be based on how much effort you put, not on whether your answers are correct. Course Schedule (Tentative) FMB506E: Topic 1. Portfolio theory (Ch. 5,6,7) Topic 2. CAPM (Ch. 8,9) Topic 3. Multifactor models (Ch. 10) FMB507E: (Part of multifactor models that were not covered in FMB506E) Topic 4. Efficient market hypothesis (Ch.11) Topic 5. Performance evaluation (Ch. 24) Topic 6. Hedge funds (Ch. 26) 1

FMB 508E Corporate Finance 1 Fall 2015 Professor: Inmoo Lee email: inmool@business.kaist.ac.kr Office: Supex 324 Phone: 958-3441 WWW site for FMB 508E http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm Office Hours: 4:00-5:00 p.m. on Tuesday and by appointments. Hours: Tuesday and Thursday 8:30-9:50 a.m. Lecture Room: *** Teaching Assistant: *** (email: ***) Course Objective: This course is designed to help you develop a deeper understanding of the issues and the basic tools needed for corporate finance managers. The issues addressed in this first half of an advanced corporate finance course include capital structure and payout policy, how to raise external capital, and real options. It is designed for everyone who has taken introductory corporate finance course. This course will cover cases as well as academic papers on the issues being covered in the class. Required Materials 1) Various materials available on the course web site Recommended Materials 1) Corporate Finance by Ross, Westerfield and Jaffe (10 th edition, 2013, McGraw- Hill/Irwin) 2) Corporate Finance (3 rd Edition) by Jonathan Berk and Peter DeMarzo (Prentice Hall, 2013) Contact Information I strongly encourage you to contact me on a regular basis and discuss the topics of our class. You can always call me at my office (958-3441). The best way to communicate, however, is through email. My email address is inmool@business.kaist.ac.kr Grading Policy: The grade will be based on the following; Date of examination Contribution to the final grade Exam 10/20 50 % 2 Case analyses 30 % 1 Assignment 10 % Attendance and participation 10 % 1

Exam The exam is a closed-book exam but you can bring an A4 size paper with any relevant hand-written notes you might want to reference in one side of the paper. The scores of students who violate this rule will be reduced by 50%. Group Works Everyone will be assigned to a group of four or five. Each group is responsible for the submission of a group report for each case and assignment. Case Analyses and Assignment Each group is responsible for the submission of 2 executive case summaries and 1 assignment. The summaries are due on the day when a new case is discussed. You have to submit a hard copy in addition to sending me an email with attachments. The executive summaries and assignments are not accepted without penalty after the due time which is 7:00 a.m. on the due date. Groups submitting an assignment after a due time will receive a partial or zero score depending on the time submitted. For a late submission, 20% of the score will be deducted for each one-hour-bracket after 7:00 a.m. For example, if an assignment is submitted at 9:10 a.m., then 60% (= 20% 3) of the score will be deducted from the graded score (i.e., if the score without a penalty is 90, then the final score will be 36(= (1-60%) 90)). This means that a case or an assignment submitted after 12:00 p.m. will receive a zero score. On the due date of each case assignment, some groups will be asked about their report and therefore, each group should be prepared to answer any questions regarding the submitted assignment. When you submit the assignment through an email, please use the following rule for the attachment: File name should be in the following format: Group#_Case# or Group#_Ass# (for example, for the group, 1, and for the case 1, Group1_Case1 (for the assignment 1, Group1_Ass1 )). You also have to bring a hard copy of the assignment to the classroom and submit it at the beginning of the class. Every group should be prepared for the presentation of a case, if asked to do so in the class. Participation & Attendance Most students with regular participation and attendance will get 7 points out of 10. Students with very active participation and perfect attendance will get 10 points. Students with no participation or many absences will get 2 point. Group Management Each member of a group is expected to motivate others to participate equally. If any member of a group is shirking his or her duties, please bring that to my attention as early as possible. I will try to work with the group to solve the problem. To discourage someone from shirking, a peer evaluation will be done at the end of the semester to identify those who are obviously freeriding. Those who receive the worst evaluation (1 out of 5) from all other members will get zero scores for all group assignments. Those who receive the worst evaluation from the majority of group members will receive 70% of the scores of all group assignments. Academic Dishonesty I have no tolerance for acts of academic dishonesty. Such acts damage the reputation of the school and the degree and demean the honest efforts of the majority of students. The minimum penalty for an act of academic dishonesty will be a zero for that assignment or exam and more severe penalties will be considered depending on the seriousness of dishonesty. 2

Course Schedule The schedule is attached in the following. The names of journals and books marked in the schedule are: JACF: Journal of Applied Corporate Finance, JF: Journal of Finance, JFE, Journal of Financial Economics, BD: Corporate Finance by Berk and DeMarzo. RWJ: Corporate Finance by Ross, Westerfield and Jaffe. Both topics and articles to be covered are subject to change. Any changes made will be posted on the class web site. Course Schedule Weeks Topic Due date 1 Week (9/1,3) 2 Week (9/8, 10) 3 Week (9/15, 17) 4 Week (9/22, 24) Introduction and Review of Capital Structure Theories (RWJ 16 & 17 and BD 14, 15 & 16) Graham and Harvey (Spring 2002, JACF) More on Capital Structure (RWJ 17 and BD 15 & 16) Rajan and Zingales (Dec. 1995, JF) Baker and Wurgler (Feb. 2002, JF) Barclay and Smith (Winter 2005, JACF) Hovakimian, Kayhan and Titman (2012, RFS) Case Studies: Hill Country Snack Foods Co. Payout Policy (RWJ 19 and BD 17) Floyd, Li and Skinner (July 2014, U of Chicago WP) Brav, Graham, Harvey, Michaely (Sep. 2005, JFE) Overview of External Financing (RWJ 15, 20 and BD 23 & 24) Smith (1986, JFE or Midland Corporate Finance Journal) Case 1 Due (9/15) 5 Week (10/1) 6 Week (10/6, 8) Venture Capital (RWJ 20 and BD 23) Aspects of financial contracting in venture capital by Sahlman (Summer 1988, JACF) Kaplan and Lerner (2010, JACF) Chuseok Holiday (9/29) IPOs (RWJ 20 and BD 23) Ritter (2003, North-Holland Chapter 5) Ritter and Welch (August 2002, JF) IPO Pricing (RWJ 20 and BD 23) Schmidt (May, 2010, HBR) Kim and Ritter (September 1999, JFE) Ass 1 Due (10/1) 7 Week (10/13, Real Options (RWJ 7, 22 & 23 and BD 21 & 22) McDonald (Spring 2006, JACF) Triantis and Borison (Summer 2001, JACF) Real Options (RWJ 7, 22 & 23 and BD 21 & 22) Case 2 Due 3

15) Case: Laura Martin: Real Options and the Cable Industry (10/15) 8 Week (10/20) Wrap-up Exam (10/20) 4

FMB551E: Computer Programming in Finance KAIST Business School, Spring 2015 Professor: Suk-Joon Byun Office: Supex 388 Phone: 958-3352 E-mail: sjbyun@business.kaist.ac.kr Class times: Tuesday/Thursday 2:30 4:00 p.m. Office Hours: Tuesday 4:00 5:00 p.m. Teaching Assistants: (Tel: 958-3968) Description: This course provides an introduction to the implementation of common financial models using EXCEL and VBA(Visual Basic with Applications). This course covers a number of topics in corporate finance and investments. The topics are net present value, cost of capital, financial statement modeling, portfolio models, efficient portfolio and Monte Carlo of investment problem. Textbook: Financial Modeling, fourth ed., (2014) by Simon Benninga, MIT Press. Homeworks: There will be several homeworks in this course. Identical work receives zero marks for everyone involved. Unless otherwise stated in class, homeworks will be due in one week. The due date for assignments is strict. If your homework solution is submitted after the due date you will lose 20% of your score for each late business day. Grading: - Participation 10 % - Homeworks 30 % - Final Exam 60 % Topics: - EXCEL functions - Introduction to VBA - Basic financial calculations - Cost of capital - Portfolio model - Black-Scholes model - Monte Carlo methods 1

Korea Advanced Institute of Science and Technology FMB 552EA Financial Databases Fall 2015 (1st Half) Class Hours: 2:30 p.m. - 3:50 p.m. on Tuesdays and Thursdays Room: Professor: Inmoo Lee Tel.: 958-3441 Office:324 Supex Hall Office Hours: 2:30-3:20 p.m. on Wednesday and by appointments E-mail: inmool@business.kaist.ac.kr http://www.business.kaist.ac.kr/faculty/inmoo/teaching.htm Teaching Assistants:??? Course Objectives: This course introduces a number of financial databases that are widely used to analyze various financial issues. The databases covered include Thomson Reuters EIKON, Capital IQ, and Bloomberg. In addition, the course will introduce a database language, SQL, to students by using PROC SQL in SAS. The course requires many practices of downloading the data from various sources and analyzing the data using PROC SQL, SAS or Excel. During the course, students are asked to replicate some parts of empirical studies on various topics in Finance using the data retrieved from various sources. The course does not focus on understanding the theories behind each empirical result being discussed in the class since those are going to be covered in other finance courses. Rather, the course focuses on how to use various databases in replicating some of the empirical results found in previous studies. The course will be taught in English and all presentations should be made in English. Required Materials: Course materials available on the course website. SAS, Database Help Desk and TA Help Hours 1

Everyone is required to practice downloading the data from the databases covered in the classroom and use PROC SQL in SAS to manipulate the data. For this course, you have to have access to SAS (you can download and install this program from the KAIST web site (http://kftp.kaist.ac.kr/). From Mondays to Thursdays, there will be someone to help you with the use of databases at the KOSCOM Data Center on the third floor (check the available hours). In addition, in every Friday morning, there will be a TA who will answer any questions on the use of databases for two hours (10:00 12:00) at the KOSCOM Data center. You are also allowed to use the Reuter Trading Center during the TA session. Contact Information Anyone is welcome to stop by my office during the office hours to discuss any class related issues. I strongly encourage students to contact me even outside my regular office hours whenever a more clear explanation for a covered topic is necessary. The best way to communicate is through email but an alternative arrangement can be made once an email is received with a clear indication of an alternative arrangement. Grading Policy 1. Exam (40%) 2. 3 Group Assignments (30%) 3. Final Group Project and Presentation (20%) 4. Participation and Attendance (10%) Exam Exam is an in-class exam. Everyone is allowed to bring a cheat-sheet in which anything to be referenced can be hand-written in one-side of the paper. Any violation of the rule will be severely penalized. The exam will cover both PROC SQL and databases covered in the class. You should be able to write some basic programs using PROC SQL and database commands used to retrieve information from the databases. Assignments 2

Everyone will be asked to join a group of 4 (or less) students on the first day of the class. Each group is responsible for the submission of a group report on four assignments and for the preparation of a presentation during the class. Assignments should be submitted through an email by 7:00 a.m. on the due date. Groups submitting an assignment after a due time will receive a partial or zero score depending on the time submitted. For a late submission, 20% of the score will be deducted for each one-hour-bracket after 7:00 a.m. For example, if an assignment is submitted at 9:10 a.m., then 60% (= 20% 3) of the score will be deducted from the graded score (i.e., if the score without a penalty is 90, then the final score will be 36(= (1-60%) 90)). This means that an assignment submitted after 12:00 p.m. will receive a zero score. On the due date of each assignment, some groups will be asked about their report and therefore, each group should be prepared to answer any questions regarding the submitted assignment. When you submit the assignment through an email, please use the following file naming rule for the attachment: File name should be in the following format: Group GroupName Ass (for example, for the group, A, and for the assignment 1, Group A Ass1). You also have to bring a hard copy of the assignment to the classroom and submit it at the beginning of the class. Final Group Project & Presentation The final group project is composed of two parts: 1) Company analysis; and 2) Portfolio analysis. You have to use PROC SQL in SAS for the second part. First, each group is responsible for choosing one foreign company and one Korean company and collecting the data on those two companies from various sources. You have to write analyst research reports for those two companies. You can certainly reference others reports but you have to list the references and sources. In addition, you have to include your own analysis in addition to others. Second, you have to choose twenty largest companies in a country of your choice and twenty largest Korean companies as of December 31, 2004 based on the market capitalization on that date. Form value-weighted portfolios of the following three at the end of 2004: 1) Foreign; 2) Korean; and 3) Foreign plus Korea. Calculate the monthly returns of three portfolios until the end of December 2014 and then report the following: 1) Arithmetic and geometric average returns; 2) Standard deviation of returns; 3) Correlation coefficients of three portfolios; 4) Run the market model (similar to the CAPM Model but without risk free rates being 3

subtracted) regression using a relevant market portfolio proxy and report each portfolio s alpha and beta; and 5) Figure of cumulative returns of three portfolios. One thing to note is that the returns should be in US dollars. You have to explain the sources of the data and include the programs used to analyze the data. Each group is responsible for the submission of a final group report on those two items. The report should be no longer than 20 pages (double spacing with at least 10 pts) including all exhibits. In addition, each group should prepare a 15-minute presentation at the end of the semester. Most groups with adequate preparation and good presentations will get 17 points. Groups with very thorough analyses and creative ideas with good presentations will get 20 points. Groups with poor preparation but good presentations will get 13 points. Groups with poor presentations will get 3 points off from the above mentioned points. Each group should notify me of the topic of the report through an email by September 24. The due date for the submission of the report together with presentation materials is October 13 (by 7: a.m. as for the assignments). When you submit the final report through an email, please use the following rule for the attachment: File name should be in the following format: Group GroupName FP (for example, for the group, A, Group A FP). You also have to bring a hard copy of the assignment to the classroom and submit it at the beginning of the class. Participation & Attendance Most students with regular participation and attendance will get 7 points out of 10. Students with very active participation and perfect attendance will get 10 points. Students with no participation or many absences will get 2 point. Group Management Each member of a group is expected to motivate others to participate equally. If any member of a group is shirking his or her duties, please bring that to my attention as early as possible. I will try to work with the group to solve the problem. To discourage someone from shirking, a peer evaluation will be done at the end of the semester to identify those who are obviously free-riding. Those who receive the worst evaluation (1 out of 5) from all other members will get zero scores for all group assignments. Those who receive the worst evaluation from the majority of group members will receive 70% of the scores of all group assignments. 4

Course Schedule The following summarizes topics and articles to be covered in each class during the semester. Both topics and articles to be covered are subject to change. Any changes made will be posted on the class web site. Class discussion of articles will focus on key hypotheses/theories, methodologies and results in tables and figures from each article. Week Topic Due Date 1W (9/1,3) Introduction, SAS and PROC SQL Financial Data Sources and EIKON 2W (9/8,10) 3W (9/15,17) 4W (9/22,24) Finance Topic: M& A 1. Andrade, Mitchell, and Stafford, (2001,JEP) EIKON and Capital IQ Finance Topic: IPOs and SEOs 1. Ritter (2003, North-Holland Chapter 5) Bloomberg: Introduction and Equity Finance Topic: Share Repurchases and Stock Splits 1. Chan, Ikenberry and Lee (2004, JFQA) 2. Ikenberry, Rankine and Stice (1996, JFQA) Chuseok Holiday (9/29) Ass 1 (9/8) Ass 2 (9/22) Final Report Topic (9/24) 5W (10/1) 6W (10/6,8) 7W (10/13,15) Bloomberg: Excel Finance Topic: Value Premiums 1. Fama and French (1992, JF) Bloomberg: Bond and Others Finance Topic: Price Momentum 1. Jegadeesh and Titman (1993, JF) Term Project Presentations 8W (10/20) Exam (10/20) Ass 3 (10/6) Final Group Project (10/13) Final Exam (10/20) 5

Autumn 2015 FMB 555E Ethics of Finance and Social Responsibility Instructor: Prof. Ji Soo KIM (김지수; 金 知 壽 ) Phone: (02)958-3017 e-mail: Office Hours: Class Hours: Classroom: jskim@business.kaist.ac.kr After Class or By Appointment Mon 7:00~9:50 P.M. To be announced (SUPEX Management Building) TA for Session B: To be announced TA s Room, Tel/e-mail: To be announced Background of Course Information: In the late 20 th century and early 21 st century, we observed some noted failure examples of Enron, World Com and many other firms engagement in deception, fraud and misconduct by focusing on excessive risk-taking. In lining with this trend, KAIST has required a course in ethics of research as 1 unit requisite course from 2009. KAIST School of Finance and Accounting has substituted this by FMB555 (initially as FIN500) for finance MBA students since 2010. Ethics of finance and social responsibility is designed to prepare the enrollees of the class to apply an ethical decision-making attitude and practice, largely in business including finance industry/business discipline. The course tries to deal with corporate governance as well as leadership as a business decision maker while talking the fundamentals of business/finance ethics. Some of the goal is to engage the student by focusing on cases and business scenarios of a certain interesting issues. The cases may cover various issues including finance/securities industry, possibly including e.g. KOSDAQ market, etc. Students are asked to look into the issues from an ethical/social responsibility perspective. KAIST and AACSB requirement/recommendation make FMB555 ethics course as a requisite one for finance MBA program. Students, largely for foreign students who do not command Korean language, are required to enroll in this English Session. The English 1

session will largely use cases or other handouts. Exams will be essay-type questions to be answered only in English. (To take the exam in the classroom, no electronic dictionary, i.e. lap top computer, cellular/smart phone, etc., is allowed to refer but paper dictionary for English-Native Language/Native Language-English translation.) Text: Cases from 1) Business Ethics Ethical Decision Making and Cases (8 th Edition), O.C. Ferrell, John Fraedrich, and Linda Ferrell, South-Western Cengage Learning, 2011 2) Harvard Business School or Other Cases. Class Schedule: (This may be changed/adjusted if necessary.) August 31 September 7 September 14 September 21 September 28 October 5 October 12 October 19 Introduction and Business/Finance Ethics Case Arthur Andersen Case Enron: Questionable Accounting, Case The Subprime Meltdown Case The Fraud of Bernard Madoff Case Accounting Fraud at WorldCom Case Keidanren: Foreign Political Contributions in Japan Case Livedoor: the Rise and Fall of a Market Maverick No Class (Chuseok Thanksgiving Holiday) Case Kitchen Best: Ethics When Doing Cross-Boundary Business in Southern China Case Yinguangxia: an Epitome of Corporate Governance Flaws in China Case Shanzhai! MediaTek and the White Box Handset Market Discussion: Learning as a gov t official from an emerging economy Term Paper Submission in Final Exam Week Grading: Class Presence/Discussion Participation, etc. 50% Term Paper 50% 2

Korea Advanced Institute of Science and Technology Graduate School of Finance and Accounting Micro-Analysis of Financial Economics (FMB556) First Half, Fall 2015 Instructor: Sungmin Kim Textbook: Robert Pindyck and Daniel Rubinfeld, Microeconomic, Eighth Edition 2013, Pearson, International Edition Course description: Microeconomics is an essential foundation of finance and financial management. The primary goal of this course is to develop the abilities of students to apply fundamental microeconomics principle and analytical tools to a range of decisions on financial matters. Although there are so many issues in microeconomics, this course will focus on selected issues which are important in understanding finance and financial markets. Students will also be introduced to more advanced topics in microeconomics. In fact, another major objective of the course is to equip students with background concepts and tools for more specialized courses in economics and finance. The class schedule below is a guideline rather than a fixed one. The best way to come to classes prepared is to read the relevant textbook chapters beforehand 1

Requirements and grading: There will be a final exam. In addition, there will be group presentations to facilitate class discussions. Finally, students are required to read a book related to economic analysis, which will be assigned at the beginning of the course and to submit a written report based on the book. Assuming your course work is completed successfully, your final grade will be based 60% on your final examination, 30% on your written report on an assigned book and 10% on your class participation. Preliminary course outline: Week 1: Introduction, Basic Supply and Demand Week 2: Basic Supply and Demand Week 3: Consumer Behavior Week 4: Uncertainty and Consumer Behavior Week 5: Behavioral Economics Week 6: Markets with Asymmetric Information Week 7: Market Failures, Externalities, and Government Intervention Week 8: Final Exam 2

Korea Advanced Institute of Science and Technology Graduate School of Finance and Accounting Financial Environment and Macro-economy (FMB557) First Half, Fall 2015 Instructor: Sungmin Kim Textbook: Charles I. Jones, Macroeconomics, Third Edition Course description: Finance and Macro-economy has become more closely related each other. It is almost impossible to understand behaviors of financial markets without understanding of macroeconomic development. The primary goal of this course is to develop the abilities of students to apply fundamental macroeconomics principle and analytical tools to understand various macroeconomic phenomena. Making use of theory and basic economic reasoning, the course will cover major macroeconomic issues including: the determination of income and output, inflation, unemployment, and long term economic growth; central banking, the money supply, and the banking system; fiscal spending, taxation and deficits; and open economy issues of international trade, exchange rates, and the balance of payments. The course will include discussions on the aspects of the current global financial crisis as they pertain to the subjects covered in the week. The class schedule below is a guideline rather than a fixed one. The best way to come to classes prepared is to read the relevant textbook chapters beforehand. 1

Requirements and grading: There will be a final exam. In addition, there will be group presentations to facilitate class discussions. Finally, students are required to read a book related to macroeconomic analysis, which will be assigned at the beginning of the course and submit a written report based on the book. Assuming your course work, your final grade will be based 60% on your final examination, 20% on your written report on an assigned book and 20% on your class participation. Preliminary course outline: Week 1: Introduction and Overview Week 2: Macroeconomic Data Week 3: Production, Output and Economic Growth Week 4: Employment and Labor Market Week 5: Money and Inflation Week 6: Business Cycle and Short-Run Model Week 7: Stabilization and Aggregate Supply/Aggregate Demand Framework Week 8: Final Exam (week 8) 2

Korea Advanced Institute of Science and Technology Graduate School of Finance and Accounting Money and Banking (FMB605) Second Half, Fall 2015 Instructor: Sungmin Kim Textbook: Thomas Bishop, Money, Banking and Monetary Policy, Second Edition 2013, Jiphil Media and other materials Course description: It is essential to understand a broad picture of the financial system where decisions on financing and investment are made. The purpose of this course is to develop the abilities of students to understand basic principles and key issues concerning money and banking in the macroeconomic context. It starts from roles of money and banking in the economy with the ultimate goal of understanding monetary and financial system. Then it will discuss each segment of financial markets with a particular emphasis on their roles and functions in the context of the whole financial system. The course will cover monetary system and monetary policy. Requirements and grading: There will be a final exam. In addition, there will be group presentations to facilitate class discussions. Finally, students are required to read a book related 1

to finance, which will be assigned at the beginning of the course and submit a written report based on the book. Assuming your course work is completed successfully, your final grade will be based 60% on your final exam, 15% on your group presentation, 15% on your written report on an assigned book and 10% on your class participation. Preliminary course outline: Week 1: Introduction and overview of financial system Week 2: Overview of financial system and FINTECH Week 3: Markets for monetary assets Week 4: Markets for non-monetary assets Week 5: Markets for non-monetary assets and role of central bank Week 6: Creation of money and monetary policy Week 7: Monetary policy Week 8: Final exam 2

KOREA ADVANCED INSTITUTE OF SCIENCE AND TECHNOLOGY Graduate School of Finance FMB 680 FISCAL, MONETRY POLICY AND FINANCIAL REGULATION Fall 2015 (2 nd Half Week) Instructor: Professor KWANGWOO PARK, Ph. D. Office: 232 Supex Hall (Tel: 02-958-3540) Office Hours: MW 10:00-11:00 AM E-mail: kpark3@kaist.ac.kr TA: Hyun Dong Kim, hyundong@business.kaist.ac.kr, 958-3617 Text: i) The Economics of Money, Banking, and Financial Markets, 10 th edition, by Frederic Mishkin, Pearson Education, 2013, and ii) Online Reader to accompany Mishkin s text at www.pearsonglobaleditions.com/mishkskin. Course Goal: This course is designed to help you understand fiscal policy, monetary policy, and financial regulation where successful interactions between financial institutions and the financial markets are crucial. To achieve the goal of this course effectively, we seek to bridge the gap between practitioners and academicians by applying theory to practice. The learning objectives of this course are: 1. Student will produce professional business documents. 2. Students will demonstrate effective interpersonal communication in a team setting. 3. Students will use appropriate analytical tools to identify problems in financial policy and regulation and develop a solution. Course Introduction: We first examine theory of banking and macro-economy. Then, thoughtful application to the real world is facilitated by exploring the financial institutions industry and discussing cases and articles.. Issues regarding the internationalization of financial markets and international financial regulation such as Basel 3 are also discussed to comply with the importance of these topics. Finally, issues continuously in the news and the subject of vigorous banking policy debate will be discussed. Grading: There are 100 total points in the class and they are distributed as follows: Review Reports 15 point s 3 reports Presentation 15 points 1 presentation Exam 40 points Week 8 Term Paper 30 points Due Dec 28 th 5 PM Grade Distribution: A(+,0,-): 40~60%, B(+,0,-):40~60%, C: 0~20% Test: You are responsible for the materials covered in the class and in the textbook. The exam will be a combination of problem solving and short essay questions. Short essay questions will in part ask you to define and/or compare terms used in the text and in part ask you to answer specific issues we discussed in class.

Review Reports: You are required to write a review report on TWO outside speakers talk. The appropriate length of a review report without cover page is double-spaced 2~3 pages, which at least include the summary and critiques of the speaker s presentation. Your critical evaluation of the article will add points on your article review. Each review report is worth 5 points. Presentation: You are required to make a presentation on a finance policy issue of YOUR OWN COUNTRY such as monetary policy, deposit insurance, financial supervision, fiscal policy, etc. You should prepare PowerPoint presentation slides (less than 15) to present your work for about 10 minute-presentation. Please notify me your intention of presenting a specific topic as soon as possible. A presentation is worth 15 points. Term Paper: You are required to write a term paper on one of the four subjects; i) evaluation of mergers in the financial services (or banking) industry around the world, or ii) the role of macroeconomy, monetary policy, and the stock market, or iii) the new financial regulation in the banking industry including new Basel 3 Accord, or iv) the emergence of the FinTech industry. Detailed instructions will be followed during the early stage of the semester. The points for term paper writing and presentation are 30 points. The final term paper output may not be complete but should contain originality and significant implications in the related field. Upon approval by the instructor, you can choose Academic Dishonesty: We follow all KAIST procedures on academic dishonesty. Students guilty of cheating will receive an F in the course and whatever additional disciplinary action the University imposes. Assignments: (Subject to Change) Week 1 (Oct. 26 & Oct. 28): Introduction Ch. 1 Ch. 2 Ch. 8 Why Study Financial Markets and Institutions? An Overview of the Financial System An Economic Analysis of Financial Structure Week 2 (Nov. 2 & Nov. 4): The Role of Ministry of Finance: Fiscal Policy Ch. 21 Planned Expenditure and Aggregate Demand: The IS Curve Outside Speaker (Nov. 4): Tax Policy in Korea (By Dr. M.J. Han (한명진 기획재정부 국장), Ministry of Finance and Strategy) Week 3 (Nov. 9 and Nov. 11): The Role of Central Banks: Monetary Policy Ch. 14 Central Banks: A Global Perspective Ch. 16 Conducts of Monetary Policy: Tools, Goals, and Targets Outside Speaker (Nov. 11): The Role of Central Banks around the World (By Dr. J.S. Bae (배준석 한국은행 금융제도팀장)), The Bank of Korea Week 4 (Nov. 16 and Nov. 18): Financial Crises and Deposit Insurance Ch. 9 Financial Crises in Advanced Economies

Ch. 10 Financial Crises in Emerging Market Economies Outside Speaker (Nov. 18): Deposit Insurance around the World (By Dr. S.G. Oh (오승곤 예금보험공사 연구위원), Korea Deposit Insurance Corporation Week 5 (Nov. 23 and Nov. 25): International Collaboration in Financial Policy and Regulation Ch. 14 International Financial System Student Presentation (1) Outside Speaker (Nov. 25): International Collaboration to Cope with Climate Change and the Creation of a Green Climate Fund (GCF) (By Mr. Ousseynou Nakoulima), Director of Country Programming, GCF Week 6 (Nov. 30 and Dec. 2): International Financial Regulation Ch. 12 Economic Analysis of Financial Regulation Ch. 13 Banking Industry: Structure and Competition Student Presentation (2) Outside Speaker (Dec. 2): The Prospect of Basel 3 Financial Regulation (By Dr. S.D. Jung(금융감독원 정신동 박사)), Financial Supervisory Service Week 7 (Dec. 7 and Dec. 9): Monetary Policy Transmission Mechanism Ch. 26 Transmission Mechanisms of Monetary Policy Student Presentation (3) Week 8 : 2-Hour Final Exam Term Paper is Due Dec 28 th 5 PM at the course Lecture Forum.

KOICA Program Course Roadmap All the coures offered by Finance MBA has or follows certain sequences. Thus, different courses are offered each semester. Please use this course map to plan your studies. Mandatories Electives 1. Quantitative Analysis Module Statistical Analysis for Finance Microanalysis of Economic Strategy Financial Programming Financial Economics and Finance Financial Data Analysis Financial Environment National Accounts Financial Database and Macro economy and Budgeting 7. Economics & Public Finance Module <Policy Concentration> 2. Corporate Finance Module 3. Investment Banking Module 4. Asset Management Module Financial Management Corporate Finance I Corporate Valuation Theory of Corporate Restructuring Corporate Finance II Mergers and Acquisitions Finance and Science & Tech Policies for Economic Dev Advanced Corporate Corporate Governance International Finance Financial Policy Investment Banking Special Topics in Investment Baking Venture Capital Investments Case Studies in Investment Banking Money and Banking Monetary Policy Advanced Monetary Policy Private Equity Investments Financial Product Design Special Issues in Monetary Policy Investment I Investment II Fixed Income Investments Fixed Income Financial Market Special Topics in Portfolio Management Risk Management Monetary Policy I Derivatives I Market Microstructure Credit Risk Modeling Special Topics in & Trading Strategies and Credit Derivatives Monetary Policy II Derivatives II Security Market Analysis Foreign Exchange Markets and Foreign Exchange Policy Global Political Economy 8. Policy Module <Policy Concentration> Derivatives Trading Strategies International Financial Markets Behavioral Finance Monetary Polices in East Asian Economic Development Developing Countries and Developing Countries I Distinguished Lectures in Northeast Asian East Asian Economic Development Asset Management Financial Markets and Developing Countries II 9. Emerging Market Module <Policy Concentration> 5. Accounting Module Financial Accounting Financial Statement Analysis I Financial Statement Analysis II Advanced Accounting I Advanced Accounting II Managerial Accounting I Managerial Accounting II Tax Accounting I 6. Financial Institutions Management Module Ethics and Social Responsibility of Finance Finance and Law Commercial Bank Management Corporate Law Business Strategies in Financial Service Industry Principles of Insurance and Risk Case Studies in Bank Management Strategic Mngt and Leadership in Financial Institutions Financial Marketing