Emeritus Faculty
02-880-6949
Bldg 58, Room 402
skkwak@snu.ac.krProfessor Introduction
Su-Keun Kwak is Professor of Accounting at Seoul National University. Professor Kwak also currently serves as President of the Korean Academic Society of Business Administration. Professor Kwak obtained a B.B.A. in 1977 and studied in the M.A. program at Seoul National University. He received his Ph.D. degree in Accounting from the University of North Carolina (Chapel Hill, USA) in 1987. Prior to joining the faculty of Seoul National University, he taught at Kookmin University. He also was a visiting professor at University of British Columbia (Vancouver, Canada) in 1994. He served as Dean of College of Business Administration during 2007 and 2009. He also served as President of the Korean Association of Small Business Studies. His research interests are mainly in the areas of corporate governance, valuation, M&A, and auditing. His research has been published in several books including M&A cases in Korea. Professor Kwak has served for numerous governmental or non-profit organizations including Securities and Futures Commission of Financial Supervisory Commission, Committee of Korea Deposit Insurance Corporation, Evaluation Committee for Financial Accounting Standards at Financial Supervisory Service, and Committee for Governmental Administration Reform.
Education & Experiences
[Education]
1982 – 87 University of North Carolina (Chapel Hill), Ph.D
1973 – 77 Seoul National University, B.A
[Academic Experience]
[Business Work Experience]
1976 – 78 Purchasing Staff, Olympos Electronic Co., Ltd
1978 – 80 Assistant Manager, Hyundai Mobis Co., Ltd
[Academic Societies Activities]
* President:
- International Business Coach Association (2015–present)
- Korean Association of Academic Societies (2012–2014)
- Korean Academic Society of Business Administration (2011–2012)
- Korean Association of Small Business Studies (2009–2010)
* Vice President:
- Korean Association of Small Business Studies (2000–2008)
- Korea Accounting Association (2004–2005, 2006–2007, 2009–2010)
* Editor: Asia Pacific Journal of Small Business (2004–2006)
[Service Activity]
Korean Government and Non-Profit Organization
Public Accounting
[Awards]
1982 – 87 University of North Carolina (Chapel Hill), Ph.D
1973 – 77 Seoul National University, B.A
[Academic Experience]
- 1998 – present
- Professor, Business School, Seoul National University
- 2007 – 09
- Dean, Business School, Seoul National University
- 1992 – 98
- Associate Professor, Business School, Seoul National University
- 1994 – 95
- Visiting Professor, University of British Columbia
- 1988 – 92
- Assistant Professor, Business School, Seoul National University
- 1987 – 88
- Assistant Professor, Kookmin University
- 1981 – 82
- Teaching Assistant, Business School, Seoul National University
[Business Work Experience]
1976 – 78 Purchasing Staff, Olympos Electronic Co., Ltd
1978 – 80 Assistant Manager, Hyundai Mobis Co., Ltd
[Academic Societies Activities]
* President:
- International Business Coach Association (2015–present)
- Korean Association of Academic Societies (2012–2014)
- Korean Academic Society of Business Administration (2011–2012)
- Korean Association of Small Business Studies (2009–2010)
* Vice President:
- Korean Association of Small Business Studies (2000–2008)
- Korea Accounting Association (2004–2005, 2006–2007, 2009–2010)
* Editor: Asia Pacific Journal of Small Business (2004–2006)
[Service Activity]
Korean Government and Non-Profit Organization
- 2012 – present
- Chairman of Advisory Committee, Financial Intelligence Unit, Financial Services Commission
- 2010 – present
- Board Member, Korea Commission for Corporate Partnership
- 2012 – 14
- Chairman of Advisory Committee, Financial Supervisory Service
- 2004 – 07
- Non-standing Commissioner, Securities and Futures Commission, Financial Services Commission
- 2002 – 04
- Member of Korea Deposit Insurance Committee, Korea Deposit Insurance Corporation
- 2002 – 04
- Member of Evaluation Committee for Accounting Standards, Financial Services Commission
- 1996 – 98
- Member of Committee for Governmental Regulation Reform
- 1989 – 93
- Member of Evaluation Committee for Public Corporations
Public Accounting
- 2015 – present
- Member of Strategic Advisory Committee, Korea Accounting Standards Board
- 2007 – present
- Chair, Financial Support Committee for IFRS Foundation, Korea Accounting Standards Board
- 1996 – present
- Member of Advisory Committee, Korean Institute of Certified Public Accountants
- 1991 – 93<
- Board Member, Representative of Korea, International Accounting Standard Committee (IASC)
[Awards]
- 2014
- Commendation, Financial Services Commission
- 2011
- Achievement Award, Korea Commission for Corporate Partnership
- 2005
- Best Paper Award, 6th Asia-Pacific International Accounting Conference
- 2001
- Excellent Manuscript Award, Korea Accounting Standards Board
Publications
[Publications]
* The Effect of Global Integration of Big 4 Accounting Firm on Audit Quality: Focusing on the Case of EY Hanyoung (with B. J. Kim and J. I. Lee). Korean Accounting Journal 25 (2). 2016.
* Empirical Evidence on the Relation between Real Earnings Management and the Cost of Debt (with J. I. Park). Journal of Taxation and Accounting 16 (5). 2015.
* The Effect of the Interaction between Financial Statement Comparability and Complexity of Client Firms on the Audit Efforts (with E. S. Ki and H. J. Ahn). Korean Accounting Review 40 (3). 2015.
* Research Articles: The Differential Effect of Cash Flows and Accruals on the Market`s Reaction to Cash Dividend Disclosures (with H. J. Ahn and S. Y. Choi). Korean Accounting Review 39 (6). 2014.
* The Future of Accounting in Korea. Korean Accounting Association. 2014.
* The Acquisition and Sales of Kukdong Engineering & Construction by Lone-Star Fund (with J. I. Lee and A. R. Choi). Korean Accounting Journal 21 (2). 2012.
* The Effect of External Auditing on the Cost of Debt -Focused on Privately Held Firms- (with J. I. Park). Journal of Taxation and Accounting 12 (4). 2011.
* Early Adoption of K-IFRS and Goodwill Amortization: The Case of Eugine Corporation`s Acquisition of Himart (with J. I. Lee and S. Y. Park). Korean Accounting Journal 20 (2). 2011.
* A Case on the Change of Accounting Estimates Related to Depreciation. Korean Accounting Journal 19 (5). 2010.
* A Critical Review on the Literature about the Audit Committee. Journal of Taxation and Accounting 11 (4). 2010.
* A Comparative Analysis on Determinants of Audit Fees of KSE, KOSDAQ and Non-Listed Firms (with J. I. Park). Korean Accounting Journal 19 (4). 2010.
* The Effects of Expected Audit Hours and Audit Quality on Audit Fees of Non-Listed Firms (with J. I. Park). Asia Pacific Journal of Small Business 32 (2). 2010.
* The Role of the National Accounting Standards Setter after the Adoption of the International Financial Reporting Standards in South Korea (with K. H. Park, M. Y. Lee, and L. S. Hwang). Korean Accounting Journal 19 (2). 2010.
* The Effect of Credit Rating on Determinants of Audit Fees -Comparative Analysis on Listed Firms and Non-Listed Firms- (with J. I. Park). Journal of Taxation and Accounting 11 (1). 2010.
* The Effect of Divergence between Voting Right and Cash Flow Right, Firm Size, and Firm Risk on Audit Fees (with J. H. Choi). Accounting Information Review 27 (2). 2009.
* A Study on the Relation between the Earnings Management to Avoid Losses, and Earnings Deceases and Analysts’ Earnings Forecasts (with J. I. Park). Korean Accounting & Auditing Research 48 (2). 2008.
* Debt Financing and the Tendency for Firms to Meet or Beat Analysts' Earnings Forecasts with J. H. Choi and B. H. Lee). Korean Accounting & Auditing Research 48 (2). 2008.
* Developments and Applications of Tuition Estimation Methodologies of Professional Schools (with T. S. Ahn, B. H. Lee, H. S. Shim and Y. S. Choi). Korean Journal of Management Accounting Research 8 (2). 2008.
* The Effect of Audit Fee and Audit Hour on Analysts' Forecast Error (with J. I. Park). Korean Accounting & Auditing Research 47. 2008.
* The Effect of Divergence between Cash Flow Right and Voting Right on Audit Hour and Audit Fee per Audit Hour (with J. H. Choi and H. S. Yoo). Seoul Journal of Business. 14 (1). 2008.
* The Implied Cost of Equity Capital and Corporate Government Practices (with H. Y. Byun and L. S. Hwang). Asia-Pacific Journal of Financial Studies. 37 (1). 2008.
* The Association between Audit Fees and the Ownership Structure. Seoul Journal of Business. 2007.
* Auditor Change and Audit Quality. Korean Accounting & Auditing Research. 2007.
* Fraudulent Accounting and Class Action Lawsuits (with K. H. Park and L. S. Hwang). Korean Journal of Management. 39. 2005.
* Study on the Economic Determinants of Non-Audit Services by Auditors. Korean Accounting Association Annual Conference. 2004.
* A Study on the Characteristics and Financial Performance of Kosdaq Small Companies that have Raised Debt from Government (with H. J. Song and C. H. Um). Institute of Management Research. Korean Journal of Management. 2004.
* Accounting Transparency in Korea: A Survey of Listed Firms by Korea Accounting Association (with I. S. Hwang, and H. S. Sim and W. J. Lee). Korean Journal of Management 38 (1). 2004.
* Accounting Information, Earnings, Book Values, Value-Relevance, Economic Situation, Industry Characteristics (with H. J. Song). Accounting Information Review 21: 1-24. 2003.
* Non-Audit Service and Auditor Independence (with C. W. Lee, and K. A. Jeon). Korean Accounting Journal 11 (4): 253-276. 2002.
* Theoretical Review on the Relation between Accounting Value and Environmental Value (with K. R. Kim and Y. K. Oh). 2002. Korean Journal of Management. 2002.
* Implications of British Medieval Accounting- Focusing on Internal Control and Audit - (with W. S. Choi). Korean Journal of Management 36 (2). 2002.
* A Study on the Origin and Development of Modern Financial Disclosure Policy and Accounting Principles (with H. J. Song). Korean Journal of Management 36 (2). 2002.
* The Rationalization of Tuition Setting and Financial Resource Allocation in Korean State Universities: Based on the Case of S University (with H. J. Song, H. C. Lee and K. J Cho). Korean Journal of Management Accounting Research 2 (1). 2002.
* Regulation on Financial Disclosure. Accounting History Research. 2002.
* Research on Accounting Objective and Value System (with Y. K. Oh and K. R Kim). Financial Supervisory Service. 2001.
* Evaluation of Footnotes Disclosure Cases. Accounting Research Institute 8. 2001.
* Research On the Cost of Nuclear Energy Safety Regulation. Ministry of Science and Technology. 2000.
* Strategies of New Product Development in Korea Automotive Firms for Enhancing International Competitiveness. The Institute for Industrial Policy. 2000.
[Books]
* The Principles of Accounting 2nd edition. Shinyoungsa. 2013.
* The Principles of Accounting (with H. J. Song). Shinyoungsa. 2010.
* The Case of Medicine Pharmaceutical: The Series of Business Case Analysis 10. Woodeungbul. 2010.
* Cross Border M&A Casebook (with J. W. Jegal and D. S Choi). ChangHae. 2008.
* Accounting Fraud Case Studies. SNU Institute of Management Research Case Series1. Wodeumji. 2008.
* The M&A Cases in the Global age II (with J. W. Jegal and D. S Choi). Changhae. 2005.
* M&A Cases in the Global Age. Changhae. 2004.
* Cases of Recent M&A 2 (with J. W. Jegal and D. S Choi). Changhae. 2003.
* The Cases of Recent M&A (with J. W. Jegal and D. S Choi). Changhae. 2002.
[Others]
* Business Network Cooperation Method for Creating Shared Value. National Research Council for Economics, Humanities and Social Sciences. 2012.
* Accounting Transparency and National Competitiveness (with I. S. Hwang). Korean Accounting Association. 2010.
* The IFRS era and the Future of Accounting in Korea (with I. S. Hwang). Korea Accounting Institute. 2009.
* Accounting Environment and Accounting Value in Korea (with Y. K. Oh and K. R. Kim). Seoul National University. 2006.
* Construction of Information Infrastructure for the Reform of University Management. Seoul National University. 2006.
* The Implementation Strategy of the Next-Generation Education Information System in Seoul National University. Seoul National University. 2003.
* The Effect of Global Integration of Big 4 Accounting Firm on Audit Quality: Focusing on the Case of EY Hanyoung (with B. J. Kim and J. I. Lee). Korean Accounting Journal 25 (2). 2016.
* Empirical Evidence on the Relation between Real Earnings Management and the Cost of Debt (with J. I. Park). Journal of Taxation and Accounting 16 (5). 2015.
* The Effect of the Interaction between Financial Statement Comparability and Complexity of Client Firms on the Audit Efforts (with E. S. Ki and H. J. Ahn). Korean Accounting Review 40 (3). 2015.
* Research Articles: The Differential Effect of Cash Flows and Accruals on the Market`s Reaction to Cash Dividend Disclosures (with H. J. Ahn and S. Y. Choi). Korean Accounting Review 39 (6). 2014.
* The Future of Accounting in Korea. Korean Accounting Association. 2014.
* The Acquisition and Sales of Kukdong Engineering & Construction by Lone-Star Fund (with J. I. Lee and A. R. Choi). Korean Accounting Journal 21 (2). 2012.
* The Effect of External Auditing on the Cost of Debt -Focused on Privately Held Firms- (with J. I. Park). Journal of Taxation and Accounting 12 (4). 2011.
* Early Adoption of K-IFRS and Goodwill Amortization: The Case of Eugine Corporation`s Acquisition of Himart (with J. I. Lee and S. Y. Park). Korean Accounting Journal 20 (2). 2011.
* A Case on the Change of Accounting Estimates Related to Depreciation. Korean Accounting Journal 19 (5). 2010.
* A Critical Review on the Literature about the Audit Committee. Journal of Taxation and Accounting 11 (4). 2010.
* A Comparative Analysis on Determinants of Audit Fees of KSE, KOSDAQ and Non-Listed Firms (with J. I. Park). Korean Accounting Journal 19 (4). 2010.
* The Effects of Expected Audit Hours and Audit Quality on Audit Fees of Non-Listed Firms (with J. I. Park). Asia Pacific Journal of Small Business 32 (2). 2010.
* The Role of the National Accounting Standards Setter after the Adoption of the International Financial Reporting Standards in South Korea (with K. H. Park, M. Y. Lee, and L. S. Hwang). Korean Accounting Journal 19 (2). 2010.
* The Effect of Credit Rating on Determinants of Audit Fees -Comparative Analysis on Listed Firms and Non-Listed Firms- (with J. I. Park). Journal of Taxation and Accounting 11 (1). 2010.
* The Effect of Divergence between Voting Right and Cash Flow Right, Firm Size, and Firm Risk on Audit Fees (with J. H. Choi). Accounting Information Review 27 (2). 2009.
* A Study on the Relation between the Earnings Management to Avoid Losses, and Earnings Deceases and Analysts’ Earnings Forecasts (with J. I. Park). Korean Accounting & Auditing Research 48 (2). 2008.
* Debt Financing and the Tendency for Firms to Meet or Beat Analysts' Earnings Forecasts with J. H. Choi and B. H. Lee). Korean Accounting & Auditing Research 48 (2). 2008.
* Developments and Applications of Tuition Estimation Methodologies of Professional Schools (with T. S. Ahn, B. H. Lee, H. S. Shim and Y. S. Choi). Korean Journal of Management Accounting Research 8 (2). 2008.
* The Effect of Audit Fee and Audit Hour on Analysts' Forecast Error (with J. I. Park). Korean Accounting & Auditing Research 47. 2008.
* The Effect of Divergence between Cash Flow Right and Voting Right on Audit Hour and Audit Fee per Audit Hour (with J. H. Choi and H. S. Yoo). Seoul Journal of Business. 14 (1). 2008.
* The Implied Cost of Equity Capital and Corporate Government Practices (with H. Y. Byun and L. S. Hwang). Asia-Pacific Journal of Financial Studies. 37 (1). 2008.
* The Association between Audit Fees and the Ownership Structure. Seoul Journal of Business. 2007.
* Auditor Change and Audit Quality. Korean Accounting & Auditing Research. 2007.
* Fraudulent Accounting and Class Action Lawsuits (with K. H. Park and L. S. Hwang). Korean Journal of Management. 39. 2005.
* Study on the Economic Determinants of Non-Audit Services by Auditors. Korean Accounting Association Annual Conference. 2004.
* A Study on the Characteristics and Financial Performance of Kosdaq Small Companies that have Raised Debt from Government (with H. J. Song and C. H. Um). Institute of Management Research. Korean Journal of Management. 2004.
* Accounting Transparency in Korea: A Survey of Listed Firms by Korea Accounting Association (with I. S. Hwang, and H. S. Sim and W. J. Lee). Korean Journal of Management 38 (1). 2004.
* Accounting Information, Earnings, Book Values, Value-Relevance, Economic Situation, Industry Characteristics (with H. J. Song). Accounting Information Review 21: 1-24. 2003.
* Non-Audit Service and Auditor Independence (with C. W. Lee, and K. A. Jeon). Korean Accounting Journal 11 (4): 253-276. 2002.
* Theoretical Review on the Relation between Accounting Value and Environmental Value (with K. R. Kim and Y. K. Oh). 2002. Korean Journal of Management. 2002.
* Implications of British Medieval Accounting- Focusing on Internal Control and Audit - (with W. S. Choi). Korean Journal of Management 36 (2). 2002.
* A Study on the Origin and Development of Modern Financial Disclosure Policy and Accounting Principles (with H. J. Song). Korean Journal of Management 36 (2). 2002.
* The Rationalization of Tuition Setting and Financial Resource Allocation in Korean State Universities: Based on the Case of S University (with H. J. Song, H. C. Lee and K. J Cho). Korean Journal of Management Accounting Research 2 (1). 2002.
* Regulation on Financial Disclosure. Accounting History Research. 2002.
* Research on Accounting Objective and Value System (with Y. K. Oh and K. R Kim). Financial Supervisory Service. 2001.
* Evaluation of Footnotes Disclosure Cases. Accounting Research Institute 8. 2001.
* Research On the Cost of Nuclear Energy Safety Regulation. Ministry of Science and Technology. 2000.
* Strategies of New Product Development in Korea Automotive Firms for Enhancing International Competitiveness. The Institute for Industrial Policy. 2000.
[Books]
* The Principles of Accounting 2nd edition. Shinyoungsa. 2013.
* The Principles of Accounting (with H. J. Song). Shinyoungsa. 2010.
* The Case of Medicine Pharmaceutical: The Series of Business Case Analysis 10. Woodeungbul. 2010.
* Cross Border M&A Casebook (with J. W. Jegal and D. S Choi). ChangHae. 2008.
* Accounting Fraud Case Studies. SNU Institute of Management Research Case Series1. Wodeumji. 2008.
* The M&A Cases in the Global age II (with J. W. Jegal and D. S Choi). Changhae. 2005.
* M&A Cases in the Global Age. Changhae. 2004.
* Cases of Recent M&A 2 (with J. W. Jegal and D. S Choi). Changhae. 2003.
* The Cases of Recent M&A (with J. W. Jegal and D. S Choi). Changhae. 2002.
[Others]
* Business Network Cooperation Method for Creating Shared Value. National Research Council for Economics, Humanities and Social Sciences. 2012.
* Accounting Transparency and National Competitiveness (with I. S. Hwang). Korean Accounting Association. 2010.
* The IFRS era and the Future of Accounting in Korea (with I. S. Hwang). Korea Accounting Institute. 2009.
* Accounting Environment and Accounting Value in Korea (with Y. K. Oh and K. R. Kim). Seoul National University. 2006.
* Construction of Information Infrastructure for the Reform of University Management. Seoul National University. 2006.
* The Implementation Strategy of the Next-Generation Education Information System in Seoul National University. Seoul National University. 2003.
