AAPBS held the ’2005 AAPBS Conference’ on September 4th at China’s Chinghwa University for 4 days. Being the first official event held since last year’s inauguration, nearly a hundred representatives and related people from 75 major business school took presence. A living discussion took place concerning the need to build an education model that brings out the virtues of the western education and also reflect the characters of the east. The participants approved that the west developed through competition and that the east should pursue educational development through cooperation and harmony. They also drew concrete ideas towards designing an educational model. Jonathan Woetzel, the author of ’Capitalist China,’ also the director of McKinsey who presented his idea on ’How Asia should confront to the challenges of fast-growing China’ drew attention when Chuanzhi Liu, the president of Lenovo, who took over IBM to become the world’s largest PC suppliers, stated ’A view on the consolidation of Chinese corporation and multinational corporation through the consolidation of IBM and Lenovo.’ In this conference, representatives of the AACSB and EFMD participated and China’s vice-minister of education, Xinsheng Zhang, and the president of Chinghwa University, Binglin Gu, also took presence to show deep interest in business education of the Asia-pacific. On the other hand, KAIST Techno Business School contracted an exchange program with the Indian Institute of Management of India and Sasin Chulalongkorn University Business School of Taiwan. Exchange student programs and joint researches were made possible. AAPBS is an international organization formed in 2004 to resolve the problems of business school education of the Asia-pacific and to collaborate for synergy effects in different aspects. At the moment, Park Sung-Joo, the president of KAIST Techno Business school, is the first president of the organiztion.