Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
Booyoung Group chairman donates 20 bil. won to KAIST
Booyoung Group Chairman Lee Joong-keun, left, poses with KAIST President Lee Kwang-hyung during a groundbreaking ceremony for remodeling of the school’s dormitories in Daejeon, Monday. The chairman donated $15.3 million to KAIST for the remodeling. Courtesy of KAIST
By Baek Byung-yeul
Lee Joong-keun, chairman of construction and real estate conglomerate Booyoung Group, donated 20 billion won ($15.3 million) to the Korea Advanced Institute of Science and Technology (KAIST) for remodeling the school's dormitories, hoping to help nurture outstanding students there, the science and technology university said Monday.
“I hope that KAIST, the cradle of scientific and technological knowledge in Korea, will foster global experts that can contribute to national development,” the chairman said in a statement released by KAIST.
Lee is well known for his strong interest in education support based on his belief that "educational goods are not something that disappears once used, but an investment for the future that is continuously reproduced."
Booyoung Group, which he founded, has been actively engaging in social contribution activities centered on education since its establishment. The chairman has donated educational and cultural facilities to more than 130 grade schools and universities nationwide to foster young professionals.
The donation to KAIST is also part of Lee’s consistent education contribution activities, KAIST said.
"Chairman Lee donated funds for dormitory remodeling, hoping to foster global experts who can contribute to the national development at KAIST, the cradle of scientific and technological knowledge in Korea. We plan to overhaul the entire building, including exterior construction and mechanical, electrical, communication and fire protection," the school said.
Remodeling will be carried out on two dormitories at KAIST's Daejeon campus and two at its Seoul campus. To honor Lee's wishes, KAIST announced that all remodeled dormitories will be named after his pseudonym, Woojung.
"I hope that KAIST students, who lead the development of Korea, will grow their dreams and talents in the Woojung dormitories and grow into highly skilled experts," the chairman said.
“We expect that the good influence of Chairman Lee, who has been contributing to society in various fields, will also spread to KAIST through this donation,” KAIST President Lee Kwang-hyung said. “We gratefully accept the great intentions of Booyoung Group and the chairman for nurturing future experts, and will continue striving to improve the facilities and environment of the aged dormitories.”