Business School at Korea University Receives AACSB Accreditation

The College of Business Administration at Korea University (President Euh Yoon-dae) was accredited by the Association of Advanced Collegiate Schools of Business (AACSB) on August 31, the university announced on September 4.

If undergraduates at the College of Business Administration, and graduate students and students of the Graduate School of Business Administration decide to study at other ACCSB-accredited business schools, their credits earned at Korea University will be honored.

AACSB International is a non-profit organization founded in 1916 by major business schools across the U.S. It assesses the quality of education of business administration. The assessment is performed in 21 areas including the faculty, credit, curriculum, and research.

Currently, 500 schools in about 20 countries are accredited members of AACSB, including Harvard, Yale and the London Business School in Britain.

In 2003, the College of Business Administration and the Graduate School at Seoul National University, and the Graduate School of Management at the Korea Advanced Institute of Science and Technology (KAIST) achieved AACSB membership. But Korea University is the first institution whose college, graduate school, and graduate school of business administration were all accredited by AACSB.

Throughout the one-and-a-half-year accreditation process, Korea University increased the number of full-time professors from 45 to 60. It also plans to hire 10 more full-time professors by 2006 to improve the quality of the education it offers.

“We are going to create a research fund that helps connect companies and professors. The funding system is aimed at attracting talented professors. Several companies have already pledged a research fund of about 50 million won per professor on a yearly basis,” said Jang Ha-sung, dean of Korea University Business School.

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