EQUIS Reaccreditation in April 20162016-04-20Hit:4783
KAIST College of Business successfully received the Five-year Full Accreditation from the European Foundation for Management Development (EFMD) at a meeting held on 12 April 2016.
Achieving the EQUIS Accreditation for the third time after first acquiring it in 2010, KAIST College of Business reaffirmed its reputation as Korea's leading business school by obtaining not only the EQUIS Accreditation but also the Association to Advance Collegiate School of Business (AACSB) Accreditation in North America at the same time.
EFMD, along with AACSB, has been encouraging business schools to maintain a high quality of education by reissuing EQUIS Certification every three or five years. In order to receive EQUIS Accreditation, schools must pass a rigorous examination in ten areas including: faculty and students, internationalization, quality of program and curriculum, coordination with corporations and ethical standards.
KAIST College of Business successfully obtained the 5-year Re-accreditation by gaining a good reputation in excellence for: the quality of students and outstanding faculty, distinctive portfolio of research incorporating disciplinary expertise in Finance and IT Management, as well as addressing contemporary challenges in green business and social enterprises. The EQUIS Accreditation is known for its strict standards and complex process in granting accreditation. It includes rigorous internal reviews, self-assessment and adjustment, and it can take several years to complete.
Tong Suk Kim, Dean of KAIST College of Business pointed out that “achieving the EQUIS re-accreditation is a good example showing that the educational system and research level of KAIST College of Business has reached a comparable level with the world’s most prestigious business schools,” and added that “from this year, the 20th anniversary, KCB will keep putting effort into become one of the world’s top 20 prestigious business schools by 2025.”
KAIST College of Business is Korea’s only accredited business school from four international agencies – the Graduate Management Admission Council (GMAC), Partnership in International Management (PIM), AACSB and EFMD.