It has already been eight years since the Korean MBA model was launched. In September 2006, the Ministry of Education implemented a new system in anticipation of a need to cultivate domestic graduate schools of business.

This system authorizes only suitable schools that passed the ministry’s criteria for Korean MBA courses.

The reason for this was to foster high-level “professional business schools,” which corresponds to Korea’s circumstances as well as global standards. Thus, the ministry encouraged the existing graduate schools of business to improve their educational courses and conditions.

At present, only 14 universities passed the authorization standard. However, interest in this newly introduced system, the Korean MBA, has been continuously growing.

Nowadays, because of the continuing economic downturn, Korean MBA courses, which once had high admission rates appear to be losing steam.

Reports The Korea Times

Read the full article here.