KAIST Graduate School of Management has launched its EMBA program and got applications from companies. For its first course in 2004 22 middle-level managers from firms like Samsung Electronics, CJ, Industrial Bank of Korea have applied. Despite the high level of tuition (about US $26,000 an year), the program has turned out to be very popular to Korean firms because it gives them the opportunity to raise future CEO’s without having to send them abroad to get the education. Especially the 5 working day system, which started recently in Korea, made the program more preferable. Professor Younggul Kim, who is in charge of the program, says, “The EMBA program makes it possible for managers to work and study at the same time because all classes are held on weekends. Considering the high demand from companies, we’ve tried to develop a high quality program which may well cost much.”