Falsified Academic Credentials

Moon Sung-Hwan, president of samyang corporation
Moon Sung-hwan, president of Samyang Corp.

Moon Sung-hwan, president of Samyang Corp., a major Korean chemical and foodstuff company, is facing allegations that he has falsified his academic credentials.

Moon faces the same allegations as those raised against Cho Young-byoung, chairman of Shinhan Financial Group. Cho was embroiled in controversy as his profile on the websites of the financial group and portals ambiguously stated that he “graduated from Helsinki MBA.”

Cho is known to have completed the MBA program of the Helsinki School of Economics. But his profile was written ambiguously, giving the impression that he obtained an MBA from the University of Hensinki, which is a totally different institution from the Helsinki School of Economics.

As allegations arose that Cho tried to falsify his academic credentials, the group corrected his profile on the websites of its own and the portals.

Moon is also known to have obtained his MBA from the Helsinki School of Economics. But according to industry and media reports on August 23, Moon’s profile submitted by Samyang Corp. for publication in the Financial Supervisory Service’s electronic disclosure semiannual report states that he obtained an MBA from the University of Helsinki. Moon’s profile published on a Korean portal site also says he graduated from the University of Helsinki Graduate School of Business Administration.

The Helsinki School of Economics is a business school founded in 1911. In 2010, it merged with the University of Art and Design Helsinki and the Helsinki University of Technology to form the Aalto University. In 2012, the Helsinki School of Economics was renamed the Aalto University School of Business.

Before 2010, the Helsinki School of Economics operated a double degree MBA program with Seoul School of Integrated Sciences & Technologies (aSSIST), a graduate school in Korea offering master and Ph. D degrees in business administration.

The program allowed aSSIST students to achieve a master's degree in business administration together with a second degree from the Helsinki School of Economics. This course allowed aSSIST students to take classes in Seoul every weekend for one year and six months and receive local on-site training for two weeks in Finland to get the two degrees. The double degree MBA program is still operated by aSSIST and the Aalto University.

Critics point out that Moon’s case is different from Cho’s. While Cho’s profile stated his academic credentials in a misleading way, Moon’s profile gives falsified academic credentials.

In response to the controversy, Samyang Holdings, the holding company of Samyang Corp., said, "Moon’s profile was written wrong and we are currently working on correcting it."

Moon Sung-Hwan, president of samyang corporation

Copyright © BusinessKorea. Prohibited from unauthorized reproduction and redistribution