One of the greatest human minds, Alvin Toffler, once predicted that the 21st century would be based on knowledge and information. This proved to be true, considering the power of those two elements. Modern corporations struggle to acquire more knowledge and information than other groups do, giving birth to the trend. Korea University Research and Business Foundation (KURBF) has also been aware of the drift since its foundation.

The history of KUrBF started in 2004, when it was granted approval for its installation by Korea University (KU). Its first head was Professor Jeong Ji Tae (medicine). Since then, it has been involved in various businesses, aiding students and school in pursuing higher knowledge and information. Its current supervisor is Professor Kim Sang Sig (Electrical Engineering), with three vice-heads each for the Anam Campus, the Sejong Campus, and the College of medicine. Its missions consist of four sub-elements with one core mission as follows: improving industry and academy cooperation to increase the chance of acquiring research funds; establishing advanced research fund management methods; forming a researcher-friendly environment; and obtaining novel intellectual property rights. Combining these four sub-elements results in the ultimate goal of the foundation; creating high revenue for KU and pursuing world class competency in research management and business promotion.

The foundation’s pursuit for acquisition of intellectual property rights is vividly shown through its support for researchers. As parts of its research promotion, it cooperates with diverse corporations to earn necessary research funds. As professors or researchers bring in necessary research fund, the foundation helps them keep record of expenses so that no budget is wasted. The number of employees who are in charge of managing research fund reaches 100 and the amount of money they manage is more than 400 billion won each year. However, the amount of earned research fund is somewhat less than those of Seoul National University, Yonsei University, and Korea Advanced Institute of Science and Technology (KAIST), which will need further attention and effort.

▲ Professor Yoo Seung Kwon (Chemical and Biological Engineering). Photographed by Bae Mi Seon

Also, the foundation also works hand in hand with researchers in figuring out how intellectual property can be industrialized. When researchers of the foundation publish their papers or works, KUrBF protects it so that no outsiders illegally take advantage of the research materials. What is more is that the foundation toils to maximize profits by licensing or patenting the result. Government ministries have been a long friend of KUrBF. Including the ministry of land, Transportation, and maritime Affairs; and the ministry of Education, Science, and Technology, various government entities are contacting the foundation in promoting promising businesses. In fact, of all the profit made by the KUrBF in 2009, businesses related to national research and development programs ranked first with 62.4 percent.
Among these various constructive programs, the Campus CEO program, first started in KU, seems to be the most helpful one for students. During the course, students are given an opportunity to learn first-hand investment skills, enhance communication skills, and form lasting cooperation networks that would serve them well if were they to actually found their own firm. This year, the program has helped eight participants see the commencement of their own business. recently, the city of Seoul has adopted the Campus CEO program and is doing a similar business.

The foundation hopes to continue interacting with students in the future. “We will focus on the Campus CEO program to support student businesses and start an undergraduate course related to it,” says Professor Yoo Seung Kwon (Chemical and Biological Engineering), vice director of KUrBF. Yoo also comments, “I hope more students become aware of the foundation and its role so we can help them in every way possible.”

In the knowledge-based 21st century, knowledge equals power. KUrBF is the foundation most aware of the trend. It will definitely help students and researchers arm themselves with the power necessary in this competitive century.