A Master of Business Administration (MBA) degree is a general management degree that teaches business students about finance, human resources, marketing, strategy, and operations management, among other topics.
Peer-to-peer education, which includes accomplished business professionals and contact between students from various backgrounds, distinguishes MBA degrees from ordinary Master’s programs. Studying for an MBA in a foreign country also provides an excellent opportunity to network and develop new business opportunities.
Why Study in South Korea?
While choosing a study abroad destination, you must ask yourself why you’re choosing the specific study abroad destination. Well if you’re planning to pursue MBA in South Korea then you should not worry as the reasons to choose South Korea are many. The country offers immersive culture along with world class educational faculty. If we compare the cost of studying and living in South Korea then we will come to know that this cost is very less as compared to the cost of living and studying in other destinations. Both national and international students will find a very safe environment in South Korea. The fear of financial assistance must not be a concern if you’re choosing South Korea to pursue an MBA program as there are a number of scholarships offered to international students. Moreover, the competitive educational system in South Korea will prepare you for the job market.
Eligibility Criteria for MBA Program in South Korea:
Aspirants interested in pursuing an MBA in South Korea must first meet the fundamental eligibility requirements for admission to South Korean universities.
- A bachelor’s degree in any related field is required.
- Students must take the TOEFL, GMAT, and IELTS exams and have authentic results.
- Varied Universities have different qualifying rules thus students should examine each university’s eligibility criteria before applying.
Intake & Application Deadlines
A two-semester system is used MBA courses in South Korea.
- March is the start of the academic year.
- Applications are accepted between September and November for March enrollments.
- Applications are accepted between May and June for September enrollments.
Average Tuition Fees for MBA in South Korea
The fees for MBA in South Korea would vary on various factors like the university you choose, the course you choose, the city you choose, and the public/private factor of the university, however, the average fee for MBA in South Korea is 14.95 Lac per year. Along with fitting the average fees in your budget, you must fit a lot of other expenses in your budget too such as medical insurance, dormitories, food, and accommodation expenses. The tuition fees to study in South Korea vary merely on the type of college and course one wants to enrolled in, study destination and the course duration. The average tuition fees are:
Undergraduate Course: $1,600 to $13,000
Postgraduate Program: $1,500 to $10,000
MBA Course: $1,100-20,900
Types of MBA
The Techno MBA is a premier MBA program that develops global leaders with experience in technology and management. It is the first full-time MBA program in Korea.
Master of Business Administration
The Global Master of Business Administration program is an 18-month full-time MBA program designed to prepare future executives with globalized management and leadership skills. The Global MBA program’s courses are taught entirely in English.
Chonnam National University’s Worldwide MBA is becoming more competitive as a global MBA as a result of international collaboration and standardization, as well as internal stability provided by exceptional teachers, an efficient network, and a professional academic system.
Finance MBA is a 2-year program. Finance MBA students at Korea Advanced Institute of Science and Technology (KAIST) are required to take the same mandatories. To enhance financial basics, students are required to take 12 credits from finance & accounting based mandatory courses.
Top MBA Colleges in South Korea
Although there are number of B schools and universities to study MBA in South Korea for Indian Students, below are some of the top business schools:
Graduate School of Business, Seoul National University
At the Graduate School of Business, Seoul National University, one of, if not the most prestigious university for MBA in South Korea, provides two full-time MBA programs (one of which is totally in English), as well as an executive MBA option.
SKK Graduate School of Business (SKK GSB), Sungkyunkwan University
SKK GSB began offering full-time MBA programs in 2004, the same year the school was created. According to the school, around 60% of its faculty are international, and 32 percent of the full-time MBAs in the 2015 graduating class were as well.
Korea University Business School (KUBS)
KUBS is South Korea’s oldest college business school, having been founded in 1906. MBA aspirants have a choice of five MBA programs. Prospective students can spend one semester at any of the school’s 30 worldwide partner schools while pursuing a full-time, one-year global MBA.
Korea Advanced Institute of Science and Technology (KAIST) – KAIST College of Business
The KAIST College of Business, located north of Seoul, is a technology-focused management school. The larger university, Korea Advanced Institute of Science and Technology, is ranked first in South Korea and sixth in Asia and is among one of the best MBA colleges in South Korea. It offers two MBA specializations: the Techno MBA, for those interested in working in South Korea’s high-tech sector, and the Finance MBA, for those looking to advance their careers in the global financial market.
Scholarships Available for MBA in South Korea
If you want to pursue an MBA degree program in South Korea and fear of expense is bothering you then you must know that there are few scholarships provided that will cover the expenses of pursuing MBA courses in South Korea.
Sol Bridge International Scholarship
This scholarship is granted by the Sol Bridge International School of business. It helps the international students pursuing MBA programs in South Korea by providing partial funding to them.
Forte Fellowship Programme
This scholarship is granted by the Forte Foundation. Forte Fellow Program is a scholarship that provides partial funding to international students pursuing an MBA program in South Korea. Students of every nationality are eligible to apply for this scholarship.
Amba 50th Anniversary Scholarships
Amba 50th Anniversary Scholarship is awarded to the students who want to pursue MBA in business. This scholarship is granted at Amba accredited Business School only.
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Why Chose MBA in South Korea
Korean Universities are Encouraging Globalization
Korean Universities are well known for their quality of education. Many of these Korean MBA programs offer dual degrees with well-known worldwide universities, students can obtain a variety of cultural and business perspectives from both Korea and a partner school in Asia, Europe, or North America.
Seoul, Korea is the Most Wired City
Technology – particularly computer and internet technology – is unrivalled. Most MBA programs in Korea include knowledge and application of this technology. Students will understand how Korea is able to continue developing this technology, as well as the techniques employed by Korean MBA graduates working for businesses such as LG and Samsung.
Korea is Becoming Multicultural
Korea is growing increasingly tolerant of diversity. There are two options here. One thing to keep an eye on is Korea’s shift in cultural orientation as it becomes more global. The other is that as Korea becomes more globalized, there will be more chances for people from all over the world to work there.
Top Industry to Choose Post MBA & Avg Median Salary
|Jobs||Avg Median Salary|
|Finance Control & Strategy||$95,000|
|Executive Management & Change||$93,000|
|Compliance, AML, KYC & Monitoring||$85,000|
|Logistics, Operations & Purchasing||$76,000|
|Program & Project Management||$70,000|
Stay-back & Jobs Option After Graduation
If you apply for a professorial visa and hold a Bachelor’s degree in Natural Sciences and Engineering or a Master’s degree in a humanities field from a Korean university, you can only work full-time in South Korea after graduation.
If you don’t have any of the aforementioned skills, finding a work placement may be difficult. In response to an increase in the number of overseas students overstaying their visas in recent years, the South Korean government has tightened visa criteria for applicants, commencing with Vietnamese students in 2019. As a result, you must be vigilant in your job search.