Honorary Chairman Chung Mong-koo Donates 10 Billion KRW of Personal Funds for 'Vaccine Center Establishment'

Korea University Medical Center Aims for Completion Next Year
"Supporting Domestic Development to Repay Public Support"

Chung Mong-koo, Honorary Chairman of Hyundai Motor Group

[Asia Economy Reporter Changhwan Lee] Chung Mong-koo, Honorary Chairman of Hyundai Motor Group, will donate 10 billion KRW to establish and operate the ‘Chung Mong-koo Vaccine Innovation Center’ being promoted by Korea University Medical Center. Chairman Chung has contributed to social development by donating billions of won of his wealth to society so far.

On the 1st, Hyundai Motor Group announced that Honorary Chairman Chung donated 10 billion KRW of his private funds to Korea Joongang Academy. The donation will be delivered to 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 the prevention and treatment of global infectious diseases after COVID-19.

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

At the donation agreement signing ceremony held yesterday at Korea University Inchon Memorial Hall, Hyundai Motor Group Chairman Chung Euisun attended on behalf of Honorary Chairman Chung.

Chairman Chung said, "Honorary Chairman Chung has always been concerned about helping the underprivileged in society," and added, "It is meaningful that Honorary Chairman Chung’s will is added to the process of Korea University Medical Center, composed of the nation’s top medical researchers, establishing the Vaccine Innovation Center and securing Korea’s vaccine sovereignty."

Hyundai Motor Group Chairman Chung Eui-sun (right in the photo) is taking a commemorative photo with Kim Jae-ho, Chairman of Korea Joongang Academy, after signing the donation agreement.

Korea University Medical Center is creating the ‘Mediscience Park,’ which will be responsible for biomedical research, industry-academia cooperation, and education, aiming for completion next year. The Chung Mong-koo Vaccine Innovation Center, the flagship facility of Mediscience Park, will secure basic research on vaccines and therapeutics as well as future convergence capabilities for infectious disease response.

Honorary Chairman Chung has consistently emphasized the principle of repaying the support he has received from the public and has steadily practiced it.

A representative example is the establishment of the ‘Hyundai Motor Chung Mong-koo Foundation’ in 2007 by donating 850 billion KRW of private funds to carry out public interest projects in various fields such as nurturing future talents, supporting marginalized groups, and sponsoring culture and arts.

Up to last year, the Hyundai Motor Chung Mong-koo Foundation has spent a total of 221.9 billion KRW on social contribution projects over 13 years. The number of direct and indirect beneficiaries reaches approximately 830,000 people.

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