Nobel Prize in Science Field Goes to KAIST with 67.6 Billion Won Donation

Suyoung Lee, Chairman of Kwangwon Industry (Chairman of KAIST Development Foundation)

[Asia Economy Reporter Junho Hwang] "There must be the first Nobel Prize winner in the field of science from Korea Advanced Institute of Science and Technology (KAIST)."

Lee Soo-young, Chairman of Gwangwon Industry (Chairman of the KAIST Development Foundation), donated assets worth 67.6 billion KRW to KAIST on the 23rd, stating, "After closely observing for a long time, I have come to believe that KAIST is the best university that can contribute not only to the development of our country but also to humanity."

On the same day, Chairman Lee held a donation agreement ceremony at KAIST's Daejeon headquarters to establish the 'Lee Soo-young Science Education Foundation' by contributing real estate worth 67.6 billion KRW. The proceeds from the Lee Soo-young Science Education Foundation will be used as a Nobel Prize research fund by supporting KAIST Singularity Professors.

The Singularity Professor system selects and supports professors who will devote themselves to research that can change the paradigm of scientific knowledge, solve humanity's challenges, or establish original scientific knowledge and theories. Once selected as a Singularity Professor, research funding is provided for a 10-year appointment period, and annual performance evaluations based on papers and patents are deferred. After the appointment period ends, the support period can be extended by 10 years based on evaluations of research progress and acquisition of singularity technology capabilities.

This donation amount is the largest since KAIST's founding. Chairman Lee previously donated real estate in the United States worth 8 billion KRW in 2012 and 1 billion KRW in 2016. His total donations amount to 76.6 billion KRW.

Chairman Lee graduated from Gyeonggi Girls' High School and Seoul National University Law School and worked as a daily newspaper reporter from 1963. In 1971, he established Gwangwon Ranch and started livestock farming. In 1988, he founded the current real estate specialized company Gwangwon Industry and currently serves as its chairman.

Chairman Lee said, "25% of semiconductor master's and doctoral researchers working at Samsung Electronics, a world-leading company, are KAIST graduates," adding, "I hope this donation will be used to elevate the name of the Republic of Korea worldwide through KAIST."

Shin Sung-chul, President of KAIST, said, "We will create a sustainable and stable research environment to produce world-class scientists to fulfill Chairman Lee Soo-young's wishes."

This content was produced with the assistance of AI translation services.