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News Release

Last modified: Tuesday, January 8, 2008

IU's Kelley School of Business signs agreement with South Korea's Sungkyunkwan University

FOR IMMEDIATE RELEASE
Jan. 8, 2008

BLOOMINGTON, Ind. -- Indiana University's Kelley School of Business announced today (Jan. 8) that it has signed an agreement with Sungkyunkwan University of Seoul, South Korea, that will bring together students, faculty and programs of the two globally recognized institutions.

Founded in 1398, Sungkyunkwan University -- known to many as SKKU -- is the old royal university. Now private, it is South Korea's third largest university with 24,000 students and the country's second-ranked business school.

Students from the global business undergraduate program at SKKU will take 75 credits, including the undergraduate business core, at SKKU and finish at the Kelley School with 45 credits. They will receive degrees from both universities.

A very selective program, it will admit only students in the top 1 percent of their high school class. Up to 25 undergraduates will be able to take advantage of the collaborative opportunity with the Kelley School. The dual-degree option has attracted hundreds of applicants.

The second part of the agreement establishes a dual-degree MBA program, whereby students spend two semesters at SKKU's Graduate School of Business and then two semesters taking elective courses at Kelley, and receive two degrees. The schools expect 30 to 40 MBA students to eventually take advantage of this opportunity.

A new executive MBA program, taught mostly in Seoul, but with students spending some time in Bloomington, will make up the third element of the agreement. The executive MBA initiative will be launched as a semi-customized program for Samsung. Faculty from Kelley and SKKU will share teaching responsibilities in this program.

"I am pleased that Indiana University was able to create this partnership with such a prestigious university in South Korea," said IU President Michael A. McRobbie. "It is my hope that over time we will be able to establish even more academic partnerships in other disciplines with SKKU."

Robert C. Klemkosky, the founding dean of SKK Graduate School of Business, and Dan Smith, dean of the Kelley School of Business, collaborated with SKKU President Jung-Don Seo and IU President McRobbie in crafting the memo of understanding. Klemkosky previously taught at Kelley, where he also served as associate dean of research and operations, chair of the Finance Department and director of the MBA Investment Management Academy.

"I have visited Bloomington twice. The first time was in 2003 to hire Dean Klemkosky to found the SKK Graduate School of Business, and again to sign an agreement between the IU Kelley School of Business and Sungkyunkwan University," said SKKU President Jung-Don Seo. "I consider this agreement to be one of the most significant events that will have a lasting impact on business education in South Korea. It is truly a historic event and a unique opportunity for our university."

Smith said he sees today's announcement as the first of several such agreements with leading business schools in South Asia.

"I am delighted with this relationship. Sungkyunkwan University has a world class business school that is recognized as being among the elite in Korea," Smith said. "The faculty and leadership of SKKU share our commitment to innovation and excellence. Our collaborative Executive MBA Program will allow us to have a positive impact on management practice in this important region of the world."

"I am pleased to have been involved in the dual-degree agreements between the IU Kelley School of Business and Sungkyunkwan University," Klemkosky noted. "To my knowledge, it is the first time the Kelley School has offered a dual degree, and we at SKKU are honored to have this relationship."

In addition to the benefits for students learning in South Korea, Smith sees value for other students enrolled at Kelley.

"The business world is global, and students must be comfortable working with partners from all over the world. At Kelley, by having SKKU students in our classes, our students will have an enhanced international experience on a day-to-day basis," Smith said. "Our collaboration in undergraduate education will further contribute to our students' development as citizens of the world. In short, this partnership reinforces our reputation as being among the world leaders in global business education."

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