Chairman Chung Mong-koo Donates 10 Billion KRW of Personal Funds to Establish the 'Chung Mong-koo Vaccine Innovation Center'

On the 31st, Korea University held a donation agreement ceremony for the establishment of the 'Chung Mong-koo Vaccine Innovation Center'

Chung Mong-koo, Honorary Chairman of Hyundai Motor Group

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Group announced on the 31st that Honorary Chairman Chung Mong-koo will donate 10 billion KRW of his personal funds to the Korea University Medical Center, operated by the Korea JoongAng Foundation, to establish and operate the 'Chung Mong-koo Vaccine Innovation Center.'

Honorary Chairman Chung stated, "I am donating to the Vaccine Innovation Center, which will contribute to the development of domestic vaccines, to help the people who have supported Hyundai Motor Group." He added, "I hope this will be of some help in overcoming infectious diseases and restoring health and happiness."

Honorary Chairman Chung has consistently emphasized his belief in repaying the support he has received from the public. The donation to the Vaccine Innovation Center is interpreted as part of this social contribution philosophy.

The donation will be delivered to the Korea University Medical Center, which will operate the Chung Mong-koo Vaccine Innovation Center, and will be used for the development of domestic vaccines and expansion of research infrastructure for global infectious disease prevention and treatment after COVID-19.

On the same day, Hyundai Motor Group and the Korea JoongAng Foundation held a 'Donation Agreement Signing Ceremony' at Korea University Inchon Memorial Hall.

Chairman Chung Eui-sun of Hyundai Motor Group attended the ceremony on behalf of Honorary Chairman Chung Mong-koo, and Kim Jae-ho, Chairman of the Korea JoongAng Foundation, was also present. President Chung Jin-taek of Korea University, Vice President for Medical Affairs Kim Young-hoon, Hyundai Motor Group Presidents Kim Geol and Gong Young-woon also participated.

Chairman Chung Eui-sun said, "Honorary Chairman Chung Mong-koo has always been concerned about helping the socially disadvantaged." He added, "It is meaningful that the Korea University Medical Center, composed of the nation's top medical researchers, is establishing the Vaccine Innovation Center and securing Korea's vaccine sovereignty with the Honorary Chairman's will added." He further stated, "I hope Honorary Chairman Chung's donation will serve as a foundation for global vaccine development."

Kim Jae-ho, Chairman of the Korea JoongAng Foundation, said, "The donation will be used valuably for the establishment and operation of the Chung Mong-koo Vaccine Innovation Center and will greatly contribute to the development of infectious disease prevention and treatment technologies."

Korea University Medical Center is creating the 'Mediscience Park,' which will be responsible for biomedical research, industry-academia cooperation, and education, utilizing existing buildings on the Korea University Jeongneung Campus, aiming for completion next year.

The Chung Mong-koo Vaccine Innovation Center, the main facility of Mediscience Park, will secure basic research on vaccines and therapeutics and future convergence capabilities for infectious disease response.

It will be equipped with essential systems for infectious disease research, such as candidate substance efficacy evaluation systems and preclinical research platforms, playing an important role as a multifaceted research hub for new drug development.

Korea University Medical Center named the Vaccine Innovation Center the 'Chung Mong-koo Vaccine Innovation Center' to honor Honorary Chairman Chung Mong-koo's will and to reflect on the significance of the donation.

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