FCRC
Global Leaders in the World
of Corporate Finance
Global Leaders in the World
of Corporate Finance
The Finance Case Research Club (FCRC) is an academic organization affiliated
with the Seoul National University College of Business Administration. FCRC aims
to foster professionals in the field of finance. With over twenty years of history,
FCRC is now counting over 300 alumni active in various prestigious financial and other
institutions, both in Korea and abroad. We seek intelligent, dedicated individuals
with passion for finance, as well as strong teamwork and leadership skills.
Build a firm foundation in
the theory of finance by
studying various textbooks
Develop keen insight by
applying theories
to real-world cases
Hone teamwork and
leadership skills through
collaborative seminars
Global Leaders in Corporate Finance
Investment Banking
Markets / Equity Research
Private Equity / Venture Capital
Management Consulting
Domestic / International Financial Institutions
FCRC holds weekly sessions every Thursday evening, for a total of seven sessions each semester. Topics for each
session range from theoretical debates to real-world case studies. Through these sessions, we aim to gain deeper
insights into the underlying principles and practical applications in each field of finance. Sessions often take place
under the guidance of alumni and our advisor.
Week 1
Financial Statement Analysis
Analyze and compare financial statements of firms in
various sectors and understand the relationship
between each financial statement
Week 2
Cost of Capital / Capital Structure
Gain a comprehensive understanding of the theory
behind capital structure and how they affect firm valuation
Week 3
Valuation Reading
Learn various methods of conducting valuation
as well as advantages and shortfalls of each
Week 4,5
Valuation Case Study
Conduct valuation on real-world firm and
discuss discrepancy between theory and practice
Week 6
M&A Case Study
Design a M&A plan for a firm planning to
expand its size or create synergies
Week 7
Joint Session
Present on and discuss various topics in finance
with peer academic organizations
Choi, Dosung
Dear Visitor,
I am Dosoung Choi, Professor of Finance at Seoul National University,
and am very proud to introduce to you FCRC, the academic organization founded and guided under
my supervision. Over the past decade, Korea has seen near explosive changes in the size and
importance of the finance sector, particularly in the corporate and investment banking industry.
There is a dire need for the development of specialists equipped with a global mindset,
proficiency in English, theoretical knowledge as well as familiarity with the actual dealings
in the corporate world.
In the spring of 2000, a small group of students and myself gathered to begin regular discussions
about financial issues and/or financial cases in English.
What brought us together was a genuine interest in the study of corporate finance by solving and discussing real life finance cases.
Over the years, I have been immensely pleased to watch this small gathering grow rapidly to
eventually become an organization of substantial size known to you as the FCRC.
FCRC has seen its senior members entering the business world as competent experts, joining the most
prestigious institutions such as Goldman Sachs, Morgan Stanley, Citigroup, among others.
Such successful expansion and growth is because FCRC has never lost
its fundamental raison d'etre - mutual passion for the world of corporate finance.
That is why I take great pleasure and pride in my ongoing guidance of FCRC and my personal
relationship with its members.
I appreciate your sincere interest in FCRC and welcome you to learn more about us.
If thereafter you come to conclude that you would like to join and show us your potential,
do not hesitate. That potential will become a reality.
Chae, Joon
Dear Visitor,
I am Professor Joon Chae, a professor of finance at Seoul National University.
I am very pleased to introduce my beloved student club FCRC,
the one and only academic club that educates corporate finance using real world case studies.
In Korea, the financial industry is relatively stagnant than other major industries including automobile and construction. However, to promote economic growth the development of service industries, majorly the financial industry, is essential. In Korea, we have many intelligent and diligent people who are capable of developing the financial industry.
While some people dismiss the importance of financial industry especially after the financial crisis, it is undisputable that no industries can strive unless the financial industry is fully developed.
In fact, the true reason behind the recent financial crisis is not the existence of financial industry, but is the incapability of players within the industry.
Accordingly, my predecessor Professor Dosung Choi and I tried to take the right steps to nurture outstanding players that can contribute to the development of financial industry.
When Professor Choi left Seoul National University, agreeing with FCRC’s vision and value, I took over the role to supervise this club.
I have continuously observed how exceptional and capable students of our club have trained themselves to become top-notch experts in the financial industry.
The unrivaled history of FCRC proves the effectiveness of training programs and how much senior members have successfully led the juniors.
I believe such success will lead to the bright future of our club.
Once you decide to join our club, you can surely be the next player to dedicate in creating the brilliant future of FCRC.
Thank you.