Business School Obtains Korea’s First Consecutive 5-Year EQUIS Certifications
Accredited by Both AACSB and EQUIS Consecutively for Five Years for the First Time in Korea

T he KU Business School obtained a five-year EFMD Quality Improvement System (EQUIS) certification from the European Foundation for Management Development (EFMD).

 EFMD gives EQUIS certifications after evaluating universities rigorously in ten categories, including vision and strategy, educational environment, the quality of curriculum, faculty, education facilities, internationalization level, and the quality of students. A five-year certification is given to universities with excellent evaluation scores in all areas, while a three-year certification is given if the evaluation score is below the standard in some areas.

 The screening process is so strict that only 156 universities hold the EQUIS certification worldwide. In fact, only 83 schools have a five-year certification, which makes it one of the most prestigious certifications in the world. The KU Business School obtained Korea’s first three-year and five-year EQUIS certifications in 2007 and 2010, respectively. In this year’s screening, the school succeeded in renewing its five-year certification, again proving its world-class education level.

 The screening was conducted by the Delegation of Inquiry sent by EFMD for three days in May while they were visiting KU. Approximately 50 faculty and staff, undergraduate and graduate students, and alumni were interviewed. The Delegation of Inquiry awarded high marks in all categories, including research capabilities, the quality of students, internationalization level, and education facilities.

 Dong-Won Kim, dean of the Business School and chairman of the Graduate School of Business Administration, said, “The KU Business School proved itself as a world-class university once again by acquiring consecutive five-year EQUIS certifications for the first time in Korea. This is the result of making persistent efforts to be one of the best schools in various categories, including research capacity, internationalization, curriculum, and education infrastructure.”

 The KU Business School also obtained the second of consecutive five-year American Academy of Colleges and School of Business (AACSB) certifications in January 2014. A total of 739 schools in 48 countries are accredited by AACSB worldwide, and only 70 schools, including KU, hold both five-year AACSB and EQUIS certifications.

 The KU Business School has developed into a world-class business school with the following achievements: Ranked first in Korea and 91st in the world in the area of business school research in 2015 (UTD), ranked first in Korea and 21st in average during the past three years in the world in the 2014 Executive MBA rating (FT), ranked first for seven consecutive years (undergraduate) and ranked first for three consecutive years (MBA) by human resources managers in the top 200 Korean companies (Hankyung Business), and ranked first in producing CEOs for the top 500 Korean companies for three consecutive years.