South Korea is rapidly becoming a hotspot for international students pursuing a Master’s in Business. The country boasts globally acclaimed universities, affordable tuition fees, and numerous scholarship opportunities, making it a perfect destination for aspiring business leaders. This guide outlines everything you need to know, including top universities, costs, requirements, and resources to get started.
Why Study Business in South Korea?
- World-Class Education: South Korean universities rank among the best globally, with robust business programs tailored for international students.
- Affordable Living Costs: Living in South Korea is relatively affordable compared to Western countries, especially outside Seoul.
- Opportunities for Growth: Students gain hands-on experience in one of the world’s most dynamic business environments.
- Cultural Immersion: South Korea’s rich culture, tech-driven society, and warm hospitality create a unique study-abroad experience.
Top Universities Offering Business Master’s Degrees in South Korea
Dankook University
Dankook University is a prestigious private institution known for its innovative curriculum and a strong emphasis on fostering leadership skills.
Programs Offered
- Business Administration
- International Trade
- Media Communication
Tuition Fees
KRW 5,153,000 per semester (approximately $3,900 USD).
Accommodation
- On-campus dormitory options range from KRW 1,200,000 to KRW 2,500,000 per semester.
- Shared rooms with basic amenities and proximity to classes.
Admission Requirements
- A minimum IELTS score of 5.5 or equivalent.
- A bachelor’s degree from a recognized institution.
- Proof of financial solvency: A bank statement showing at least $15,000 USD.
Scholarships
- 50% tuition waiver for 1–2 semesters for international students with IELTS certification.
- Merit-based scholarships for high-performing students in subsequent semesters.
Dankook offers specialized career services, connecting students with top Korean and international companies for internships and job placements.
Visit Dankook University Offical Website
Gachon University
Gachon University is a forward-thinking institution focusing on innovative research and fostering global talent. Its strong business department is popular among international students.
Programs Offered
- Global Economics
- Tourism Management
- Accounting
Tuition Fees
KRW 4,733,000 per semester (approximately $3,600 USD).
Accommodation
- Single Room: KRW 2,014,400 for 4 months.
- Double Room: KRW 1,484,400 for 4 months.
Dormitories come equipped with Wi-Fi, shared kitchens, and study spaces.
Admission Requirements
- IELTS 5.5 minimum or an equivalent English proficiency test score.
- Bachelor’s degree with transcripts.
Scholarships
- 50% waiver for the first semester.
- Continued support of up to 40% for subsequent semesters based on academic performance.
Gachon University’s partnerships with multinational firms make it an ideal choice for students looking for global exposure.
Visit Gachon University Offical Website
Ajou University
Programs Offered
- Business Administration
- Economics
Tuition Fees
KRW 5,209,000 per semester (approximately $3,950 USD).
Accommodation
- Dormitory costs range from KRW 1,500,000 to KRW 2,000,000 per semester, with options for single and shared rooms.
Admission Requirements
- IELTS 5.5
- Financial statement showing a minimum of $16,000 USD.
Scholarships
- 50% tuition reduction for eligible international students.
Additional Features
Ajou University offers mentoring programs, language classes, and cultural activities for smoother integration into Korean society.
Visit Ajou University Offical Website
Korea University Business School
Korea University is one of the most prestigious universities in Asia. KUBS is known for its rigorous MBA programs, top-tier faculty, and global connections with Fortune 500 companies.
Programs Offered
- MBA Programs (Global Business, Finance, and Strategy)
Tuition Fees
KRW 10,000,000 per semester (approximately $7,500 USD).
Accommodation
- On-campus dormitories start at KRW 2,000,000 per semester.
- Premium options include private facilities.
Admission Requirements
- IELTS 6.0 or equivalent.
- A bachelor’s degree with a minimum GPA of 3.0 on a 4.0 scale.
Scholarships
- 50% tuition waiver for outstanding international students.
- Additional grants for exceptional leadership and academic achievements.
KUBS offers dual-degree programs and partnerships with global universities, providing students with international exposure and job opportunities.
Visit Korea University Offical Website
Seoul National University (SNU)
Seoul National University is South Korea’s top-ranked university, known for its academic excellence and research opportunities.
Programs Offered
- Master of Business Administration
- International Trade
Tuition Fees
KRW 6,000,000 per semester (approximately $4,500 USD).
Accommodation
- Dormitory: KRW 1,800,000 per semester.
Admission Requirements
- IELTS 6.5 or TOPIK Level 4.
- Financial statement proving $18,000 USD in funds.
Scholarships
- Full scholarships available for high-achieving students.
- Monthly stipends for selected international scholars.
SNU offers unparalleled networking opportunities with industry leaders and access to advanced research facilities.
Visit SNU Offfical Website
Yonsei University
Yonsei University is renowned for its globally recognized MBA programs, innovative curriculum, and multicultural environment.
Programs Offered
- MBA (Global, Tech, or Finance-focused)
- International Trade and Business
Tuition Fees
KRW 9,000,000 per semester (approximately $6,700 USD).
Accommodation
- Premium dormitories range from KRW 2,500,000 to KRW 3,500,000 per semester.
Admission Requirements
- IELTS 6.5 or higher.
Scholarships
- Merit-based tuition waivers of up to 70%.
Yonsei’s partnerships with global institutions allow students to gain international internships and research opportunities.
Visit Yonsei Offical Website
Sungkyunkwan University (SKKU)
Sungkyunkwan University is one of the oldest universities in Asia and a prestigious name in higher education. Its collaboration with Samsung makes its business programs highly sought after.
Programs Offered
- Global Business Administration
- Financial Management
Tuition Fees
KRW 5,800,000 per semester (approximately $4,400 USD).
Accommodation
- Dormitory costs range from KRW 1,600,000 to KRW 2,200,000 per semester, with options for single and shared rooms.
Admission Requirements
- IELTS 6.0 or equivalent.
- Bachelor’s degree in any relevant field.
Scholarships
- Merit-based scholarships covering up to 70% of tuition.
- Samsung Scholarships for top-performing students in business programs.
Additional Features
SKKU offers an excellent network of alumni and internship programs, thanks to its partnership with Samsung.
Visit SKKU Offical Website
Hanyang University
Hanyang University is celebrated for its practical approach to business education. Its business school is ranked among the best in Korea, emphasizing leadership and innovation.
Programs Offered
- Master of Business Administration
- Financial Strategy
Tuition Fees
KRW 6,200,000 per semester (approximately $4,700 USD).
Accommodation
- Dormitory fees start at KRW 1,700,000 per semester for shared rooms.
Admission Requirements
- IELTS 6.0 or TOEFL iBT score of 79.
- Bachelor’s degree and at least one letter of recommendation.
Scholarships
- 30–50% tuition fee waivers for international students.
- Special funding for students with outstanding academic records.
Hanyang provides dedicated placement services and has strong ties with multinational companies for internships and jobs.
Vist Hanyang University Offical Website
KAIST College of Business
KAIST is renowned for its cutting-edge research and is a top choice for tech-driven business students. Its MBA programs combine business fundamentals with innovation.
Programs Offered
- Global MBA
- Green Business
Tuition Fees
KRW 8,500,000 per semester (approximately $6,400 USD).
Accommodation
- Dormitories: KRW 2,000,000 per semester for shared rooms.
Admission Requirements
- IELTS 6.5 or TOEFL iBT 85.
- A statement of purpose and professional work experience is an advantage.
Scholarships
- Full tuition scholarships available for outstanding applicants.
- Monthly living stipends for selected international students.
KAIST offers unmatched resources for students interested in green business or entrepreneurship.
Ewha Womans University
Ewha Womans University is a leader in higher education for women but also accepts male students for select graduate programs. Its business school has a strong focus on global trade and sustainability.
Programs Offered
- MBA in International Business
- Marketing
Tuition Fees
KRW 7,200,000 per semester (approximately $5,400 USD).
Accommodation
- Dormitory costs start at KRW 1,800,000 per semester for shared rooms.
Admission Requirements
- IELTS 6.0 or higher.
- A bachelor’s degree and academic references.
Scholarships
- Up to 50% tuition fee waivers for first-year students.
- Continued support based on GPA and extracurricular achievements.
Additional Features
Ewha offers specialized programs for international students, including language classes and cultural exchange activities.
Visit Ewha Womans University
Check out our Korean consultant video for more insights.
Be sure to watch our in-depth YouTube guide on applying to Korean universities, securing scholarships, and succeeding in your degree.
Conclusion
In conclusion, pursuing a Business Master’s in South Korea offers excellent academic programs, diverse scholarship options, and affordable tuition. Whether you’re interested in Business Master’s in South Korea programs in Business Administration, Economics, or International Trade, there are plenty of opportunities. With various universities offering strong support and resources, you can find the perfect fit for your educational goals. Watch our Korean consultant video for more insights into Business Master’s in South Korea and to help guide your decision.
