MBA in South Korea

Officially known as the Republic of Korea, South Korea has made a place for itself among the top chosen destinations for higher studies. With its world-class levels of schooling, it has been included in the list of countries with the best education system. With a large section of the population, holding a tertiary education degree, South Korea is counted as one of the most educated countries in the world! South Korea is chosen by aspirants who wish to pursue an MBA abroad because of multiple reasons, the primary one being the job market. So, if you are planning to study MBA in South Korea then here is a blog that might be of help to you.

Why Study in South Korea?

For students planning to pursue studies abroad, this question might strike them as to why choose South Korea for studying MBA. Well, to answer that we must talk about the immersive culture and world-class education facility, the country has to offer. The cost of living is also not very expensive compared to other countries and the safety of students is also taken care of. If students need financial assistance, a number of scholarships are provided too and the competitive education system prepares the students well for the job market.

MBA: Course Overview

A Master of Business Administration (MBA) is a general management degree that instructs business students in a variety of subjects, including operations management, marketing, human resources, and finance.

MBA degrees set themselves apart from standard Master’s programmes through peer-to-peer education, which includes interaction between established business experts and students from varied backgrounds. The chance to network and create new business prospects is another fantastic benefit of pursuing an MBA abroad.

Why Study MBA in South Korea?

Here are some of the reasons why students choose to study MBA in South Korea:

• Globalisation is being encouraged by Korean universities– Education at Korean universities is of a high calibre. Many of these MBA programmes in Korea offer dual degrees with prestigious international universities, allowing students to learn about business and cultural views from Korea and a partner institution in Asia, Europe, or North America.
• Seoul, Korea is the Most Wired City- Technology is unparalleled, especially when it comes to computers and the Internet. The majority of MBA programmes in Korea cover this technology’s understanding and use. Students will comprehend how Korea is able to maintain this technological advancement as well as the strategies used by Korean MBA graduates working for companies like LG and Samsung.
• Korea is Increasingly Cultural- Korea is becoming more accepting of diversity. There are two choices available. Korea’s shift in cultural orientation as it becomes more international is something to pay attention to. The second is that there will be more opportunities for people from around the world to work in Korea as it becomes more globally integrated.

Must Read: South Korean Education System

Eligibility Criteria

Aspirants planning to pursue MBA in South Korea must meet the basic eligibility criteria for securing admission to South Korean Universities for MBA. 

• Students must hold a bachelor’s degree in any related subject.
• Students must appear for TOEFL, GMAT and IELTS and secure valid scores.
• Different universities have different eligibility criteria, students must make it a point to read the eligibility criteria of each university before applying.

Top MBA Colleges in South Korea

Although there are too many universities in South Korea, the number of MBA colleges is not many. In this section, we have listed the top MBA colleges in South Korea.

University	Location	1st-year Tuition Fees
Korea Advanced Institute of Science and Technology	Daejon	INR 15 Lakhs
Sungkyunkwan University	Seoul	INR 20 Lakhs
Sol Bridge International School of Business	Daejon	INR 12 Lakhs
Konkuk University	Seoul	–

Must Read: Business Schools in South Korea

When to Apply?

South Korea follows a 2-semester system. So, if you are an aspirant who is planning to study MBA in South Korea and wants to know the details then this might be of help to you:

• The academic calendar begins in March
• For March enrollments, the applications are accepted between September-November
• For September enrollments, applications are accepted between May and June.

Average Fees for MBA in South Korea

The average fee for studying for an MBA in South Korea is INR 14.95 Lacs/ Year. The cost of living varies depending on different factors. We have made an average budget for the living expenses that will be incurred per semester while studying there:

Dormitories	$600-$1,400 [Rs 42,000-Rs 99,000]
Boarding House	$300-$600 [Rs 21,000-Rs 42,000]
Rented Apartments	$300 [Rs 21,000]
Other Expenses (Food, Medical Insurance etc)	$400-$500 [Rs 28,000-Rs 35,000]

These costs might vary depending on the city and university chosen.

Looking forward to studying in South Korea? Check this blog on How to Apply for South Korean Visa: A Step By Step Guide

Scholarships Available – MBA in South Korea

For students who need financial assistance, a few scholarships are also provided to cover the studying expenses incurred. Listed below are the scholarships available:

• Sol Bridge International Scholarship – SolBridge Admission Scholarships are offered by the Sol Bridge International School of Business. It provides partial funding for international students applying for MBA programmes.
• Forte Fellowship Programme – Offered by Forte Foundation. Provides partial funding to international students pursuing MBA. Students eligible for this scholarship are: Open to all nationalities
• Amba 50th Anniversary Scholarships – This scholarship is awarded to those who pursue MBA in Business and can be taken at AMBA-accredited Business Schools only.

Must Read: Scholarships for South Korea

Top Industries and Average Salary

Here are some of the top industries where you can work after completing your MBA from South Korea along with the average salary you receive in these industries. Check the table below:

Jobs	Avg Median Salary
Financial Services	$100,000
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

FAQs

So, this is all you need to know about MBA in South Korea. Hope it solved some of your major doubts and helped you make a decision. Planning to pursue studies abroad and need help with the process? Get in touch with our Leverage Edu experts and for more such content stay up-to-date with all the information/news on studying abroad.