About

Department of Statistics and Actuarial Science at Soongsil University is the only department in Korea, which has both
an statistics tract that develops data analysis capabilities which are core competencies of the future society and
an actuarial science track that maximizes the synergy between statistics and actuarial science.

History

2021. 3 Opened the AI Mobility Convergence Major
2015. 9 Opened Big Data Convergence Major
2011. 3 Opened an Asian actuarial expert training program

2009. 3 Established a dual degree program with Towson University in the USA
2009. 2 Opened an interdisciplinary program of actuary and risk management
2006. 9 Opened an interdisciplinary program of financial engineering and actuary
2005. 3 Changed the department name to Department of Statistics and Actuarial Science and reorganized the curriculum
2000. 3 Newly established a graduate school doctoral program (statistics and actuarial science)

1998. 3 Changed the department name to Department of Information and Statistics
1993. 3 Newly established the statistics master's program (statistics and actuarial science)
1988. 3 Established Department of Statistics

2015. 9 Opened Big Data Convergence Major
2011. 3 Opened an Asian actuarial expert training program
2009. 3 Established a dual degree program with Towson University in the USA
2009. 2 Opened an interdisciplinary program of actuary and risk management
2006. 9 Opened an interdisciplinary program of financial engineering and actuary
2005. 3 Changed the department name to Department of Statistics and Actuarial Science and reorganized the curriculum
2000. 3 Newly established a graduate school doctoral program (statistics and actuarial science)
1998. 3 Changed the department name to Department of Information and Statistics
1993. 3 Newly established the statistics master's program (statistics and actuarial science)
1988. 3 Established Department of Statistics

Department Overview

Department of Statistics and Actuarial Science is the only department in Korea that offers both an information statistics track that develops data analysis ability, which is the core competency of the future society, and an actuarial science track that maximizes synergy by merging the two academic fields of statistics and actuarial science. Students can design their self-directed curriculum according to their interests. Information Statistics: We operate a variety of subjects and programs to train data scientists who can diagnose various phenomena and suggest reasonable alternatives by analyzing large-capacity data generated throughout society. Actuarial Science: This is an academic field dealing with mathematical theories and models necessary to quantitatively analyze and manage various risks related to life insurance, indemnity insurance, and annuity products.

The Right Student for the Department

Self-directed professional talent who can efficiently collect and analyze data to create new value Professional talent who can handle mathematical theories and analysis methodologies related to insurance such as life insurance, indemnity insurance, medical insurance, annuity, and reinsurance

Purpose of Education

We aim to contribute to the development of Korean society by nurturing experts in statistics and actuarial science who can scientifically think about uncertain phenomena.

Educational Goal

Our educational goal is to nurture human resources who can respond to the 21st-century academic flow and the needs of the nation and the local community. To be specific, our basic educational goal is to nurture professional manpower with information analysis ability to use statistics in various applications and research on statistical methodology, which is an essential field in the modern information society. In addition, it is an important educational goal of the department to provide students with an actuarial science track with practical characteristics to nurture specialists in the field of insurance and finance. We make the best effort to educate the theory and application of statistics to achieve these educational goals. We also focus on teaching basic theories and methodologies in the field of actuarial science to increase students' application of these theories to real-world problems.

1. Cultivate statistical experts who efficiently collect and analyze data to produce useful information for decision-making.
2. Cultivate professional talents who can handle mathematical theories and analysis methodologies related to insurance such as life insurance, indemnity insurance, medical insurance, annuity, and reinsurance
3. Nurture talents with international competitiveness through faithful theoretical education that focuses on practicality.

Educational Content

1. Statistics

Students learn basic statistical knowledge through subjects such as Basic Statistics, Sampling Theory, Experimental Design, Linear Planning, Mathematical Statistics 1, Mathematical Statistics 2, Regression Analysis 1, and Regression Analysis 2. They learn how to use statistical packages such as SAS, SPSS, R, and S-LINK in the course of taking these basic courses. In the advanced course in statistics, they learn statistical knowledge actually required by society through subjects such as Decision Making Theory, Time Series Analysis, Data Mining, Multivariate Analysis, and Categorical Analysis. They will be able to acquire statistical analysis skills by analyzing actual data, along with the theory courses. In particular, the data mining class allows students to learn the analytical methods used in customer relationship management (CRM), which has recently become important.

2. Computational Statistics

Students learn how to use basic programs for data processing and statistical analysis using programming languages such as C language, Java, and R through subjects such as Programming Practice, Numerical Analysis, Computational Statistics 1, Computational Statistics 2, and Simulation. The intensive education on how to use package programs such as SAS, SPSS, S-LINK, and Arc allows students to develop the ability to use a wide range of statistical packages.

3. Actuarial Science

Our educational program is the major program of actuarial science established for the first time in Korea and provides a professional and systematic training course to nurture international-level actuaries. Students can acquire systematic and advanced knowledge about actuarial management through subjects such as Financial Mathematics, Actuarial Science, Actuarial Model Theory, Annuity Mathematics, Insurance Principles, Insurance Management, and special lectures on actuarial management. They may also take the Actuary Qualification Exam after completing the program of coursework in the second year.

What is an insurance planner?

An actuary is a profession that performs all kinds of work on actuarial gains or losses. Actuaries are highly specialized in product development, calculation of insurance premiums and liability reserves, profit and loss analysis, and risk management, which is distinct from insurance planners. In foreign countries such as the United States, actuaries are considered as the most promising occupations, surpassing lawyers and certified public accountants.
Even in Korea, actuaries are emerging as high-level personnel due to environmental changes such as globalization, and their expertise ensures long-term job safety.

4. Interdisciplinary Program of Financial Engineering and Actuarial Science

This is a major course where students can comprehensively study financial engineering and actuarial science, which are closely related to each other. Financial engineering is a new academic field that has emerged as a result of the rapid development of the financial industry worldwide and the diversification of financial products. After graduation, the majors in this field are responsible for presenting realistic solutions to various topics in finance and insurance based on mathematical methods. Therefore, they need comprehensive knowledge in various fields such as financial theory, insurance, actuarial science, and basic mathematics. Students, who intend to complete this interdisciplinary program, should attend various courses such as Accounting Principles, Management Principles, Economic Principles, Financial Market Theory, Financial Risk Management, Security Analysis, Derivatives Theory, and Financial Engineering, along with those of information statistics and actuarial science.

5. Interdisciplinary Program of Actuarial Science and Risk Management

Established for a joint degree program with Towson University in the USA, this program is a course where students can comprehensively study the fields of actuarial science and risk management. Similar to the interdisciplinary program of financial engineering and actuarial science, students will study various statistical and actuarial methods for two years each at Soongsil University and Towson University. To apply for a joint degree program with Towson University, you must take the required courses. (For more information, refer to the specialized program menu.)

6. Big Data Convergence Major

This is the undergraduate major course for big data convergence established for the first time in Korea, which is jointly operated by three departments: the Department of Statistics and Actuarial Science, the Department of Software, and the Department of Smart System Software. In order to finish the big data convergence major, you must complete five required subjects and seven elective subjects in the S3IT curriculum. (For more information, refer to the big data convergence major menu.)

7. AI Mobility Convergence Major

This is a convergence major course jointly operated by three departments: the Department of Statistics and Actuarial Science, the Department of Mechanical Engineering, and the Department of AI Convergence to foster AI mobility experts. In order to finish the AI mobility convergence major, you must complete 5 required subjects and 12 elective subjects in the AI mobility curriculum. (For more information, refer to the AI mobility convergence major menu)