Yonsei University School of Business (YSB) acquired EQUIS (the European Quality Improvement System) accreditation from the European Foundation for Management Development (EFMD). YSB passed the preliminary evaluation in February and the general assessment in November 2011, to finally gain the accreditation this year. It was highly evaluated for its active industry-academia cooperation and extensive alumni network.
The EFMD builds networks between business schools and major corporations, and provides top-level practical training and knowledge about changing trends leading development in management in Europe and all over the world. It consists of over 750 member organizations from academia, business, public service and consultancy in 81 countries. The EQUIS is one of the international accreditations issued by the EFMD based on 10 evaluation criteria including strategy, educational programs, students, faculty, internationalization and corporate connections.
Sang Yong Park, Dean of YSB, said, “Acquiring EQUIS following AACSB certification is the result of our school’s consistent efforts in strengthening education, research and internationalization with the aim of fostering creative leadership.” He added, “YSB has proven its global competitiveness and, as an accredited school, we will further strengthen our management education.”
In 2008, YSB was certified by the AACSB (The Association to Advance Collegiate Schools of Business). Adding EQUIS to its list of accreditations, it has become a business school certified by the world’s two leading international accreditation organizations. In addition, it has become a globally reputable business school also gaining GMAC (Graduate Management Admission Council) recognition and a contract with the CFA Institute, as well as ranking in the UK Financial Times’ Top 100 EMBA for two consecutive years since 2010 and in The Economist’s Top 100 Full-time MBA Programs – the first for a Korean university.