Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
Asan Institute chairman hails Korea-US alliance at Johns Hopkins donation event
Chung Mong-joon, founder and honorary chairman of the Asan Institute for Policy Studies, speaks during a donation event at the School of Advanced International Studies at Johns Hopkins University, Washington, Monday (local time). Courtesy of Asan Institute of Policy Studies
By Lee Hyo-jin
Chung Mong-joon, founder and honorary chairman of the Asan Institute for Policy Studies, expressed hopes that his $7.5 million donation to Johns Hopkins University will help advance studies on the South Korea-U.S. alliance and security issues on the Korean Peninsula.
"To this day, the seeds of goodwill that the United States planted on the frozen battlefields of the Korean soil continue to bear fruit," Chung said during a donation ceremony held at the university’s School of Advanced International Studies (SAIS) in Washington on Monday (local time).
Chung, who earned his doctorate in international relations from SAIS in 1993, contributed the $7.5 million endowment to establish the MJ Chung Distinguished Chair in Security Studies, according to the Seoul-based think-tank.
The funds will support research and education on Korean Peninsula affairs and North Korean nuclear issues.
The donation ceremony was attended by officials from the South Korean Embassy in the U.S., SAIS Dean James Steinberg, faculty members and students.
In his speech, Chung emphasized South Korea’s transformation into an icon of successful industrialization and democratization, describing it as "an example of what U.S. commitment can achieve."
On security issues, he proposed revisiting the idea of redeploying U.S. tactical nuclear weapons to bases in South Korea.
"Today, the U.S. has deployed around 100 tactical nuclear weapons in Germany, Belgium and the Netherlands. It is illogical to station such weapons in Europe while not deploying them on the Korean Peninsula, where the security environment is more serious," he said.
Chung also called for U.S.-led efforts to form an Asian version of the North Atlantic Treaty Organization (NATO), bringing together like-minded partners to counter North Korea, China and Russia’s military expansion.
"As time goes on, more experts and leaders are calling for the establishment of a collective security system in Asia. The U.S., along with its allies and partners, must demonstrate a firm commitment to deterring the military adventurism of North Korea, China and Russia. We need an 'Asian NATO,' which could be called the Indo-Pacific Treaty Organization," he said.