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FREQUENTLY ASKED QUESTIONS

  • How do I sign up?
    Registrations will be through an online form—available from 2/11 when early registrations begin. Participants will need to submit information regarding teams and then pay the registration fee to be fully registered for the competition. Please keep an eye open on the KBC website and the KBC social media account, where further information regarding registration will be posted.
  • Can I participate without a group?
    Yes, the KBC Committee has decided to allow individual participants for those who struggle to find a team. If individuals sign up in groups of less than 4 (international); or 5 (domestic), they will be matched with other individual participants to create a team. As soon as the KBC Executive committee finds a pair, individual participants will be informed directly through email. Please note that KBC does not take any liability regarding conflicts within a team.
  • What are the judging criteria?
    Participants will be graded by judges on their presentation, business report, and Q&A. Please refer to the rulebook uploaded on the KBC website for more specific criteria. For more detailed information about judging criteria please refer to the rubric and rule book uploaded on the KBC website.
  • How will the online competition work?
    To ensure participant safety amidst COVID-19, KBC will be held online. In accordance with this change, presentations will be done live through zoom where the order is chosen by a random generator. While participants are presenting, it will be the KBC staff member having control over the slides in order to prevent any further modifications in the slide. Competitors are expected to prepare for crossfire Q&A as other teams are presenting. More information regarding the format can be found in the rubric and rulebook.
  • How can international applicants participate?
    KBC has decided to accept international applicants starting from the Fall 2021 competition. The KBC Executive Committee does not expect foreign competitors to face any difficulties or differences, for the competition will be held online. Domestic and international participants will be judged by the same judges with identical judging criteria and rules. International participants should keep in mind that they are expected to adhere to deadlines and competition schedules in KST and that payments must be done in KRW.
  • How will the changed QnA system work?
    During the online competition, each team will be allotted a 7-minute question and answer session, which will be facilitated through the "raise hand" function on Zoom. The judges will have the option to use the entire 7 minutes for their Q&A session. However, if the judges finish their questioning before the 7 minutes are up, the remaining time will be given to the opposing team to ask questions. The team answering the questions will have the discretion to choose whose question to answer. In the event of the Loser's Bracket, teams will be given a 5-minute question and answer session, along with 5 minutes of presentation time.
  • What are the important deadlines?
    Early Registration: 2/11 ~ 3/1 Regular Registration: 3/2 ~ 3/20 Late Registration: 3/21 ~ 4/7 Mentorship Program: TBD Business Report and Presentation Deadline: ​4/8 Competition Date: 4/10
  • What happens if we submit our assignments over the due time?
    Overdue submissions will result in point penalties. Please refer to the rulebook for specific details regarding the penalties. Further details regarding the competition format, schedule, legality, eligibility, warnings, and submissions are detailed in the KBC rulebook.
  • Are we allowed to team up with participants from multiple schools?
    No, participants are not allowed to combine schools. KBC only allows participants to team up with their school participants.
  • What are the minimum and maximum participants that we can have in one team?
    The maximum occupancy for each team is 8 participants and the minimum occupancy for each is 5 participants.
  • Do we have to team up with the same grade levels?
    No, you do not need to team up with your same grade levels. Participants are allowed to team up with different grade levels in their schools.
  • What kind of awards are there?
    Participants/Teams can earn awards if they show excellence in the following criteria: 1st, 2nd, and 3rd Place Award KBC Best Speaker Award KBC Best Presentation Award KBC Best Business Report Award KBC Best Q&A Team Award KBC Sustainable Entrepreneurship Award 1 Best Presenter and 1 Best Q&A Award for each school
  • Who is eligible to participate?
    The Korea Business Competition is open to all high school students, as the primary goal of the competition is to inspire and motivate students to enhance their entrepreneurial skills and demonstrate their creativity.
  • What kind of business ideas are eligible for the competition, and what are the restrictions or limitations, if there are any?
    In the competition, all kinds of business ideas will be eligible, in encouraging participants to think creatively and innovatively. However, Participants will need to be prepared to provide a detailed explanation following the criteria and prepare for potential Q&A questions.
  • What kind of feedback or evaluation will the participants receive, and how will this help them improve their skills and knowledge?
    The Korea Business Competition will be providing a mentoring system in place to the ensure participants with valuable insights and guidance throughout the competition. The team of experienced mentors will work closely with the participants to help them refine their business ideas, develop their skills, and etc.
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