Geumseong Baekjo Housing Donates 500 Million KRW to KAIST
[Asia Economy Reporter Kim Bong-su] The Korea Advanced Institute of Science and Technology (KAIST) announced on the 21st that it received a 500 million won endowment fund from Geumseong Baekjo Housing.
KAIST plans to use Geumseong Baekjo's endowment fund to support KAIST and local student startups, as well as to operate the Open Venture Lab, which supports prospective entrepreneurs.
Jung Sung-wook, chairman of Geumseong Baekjo, said, "As a businessperson, it is an immense honor to contribute to discovering and continuously growing many startups with potential," adding, "I hope this becomes an opportunity for the 'company-KAIST-Daejeon City' to create innovative cases through public-private-academic cooperation by fostering various ventures."
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Lee Kwang-hyung, president of KAIST, said, "The cultivation of startup companies through this endowment fund will serve as a good model of cooperation among universities, companies, and the local community to promote innovative entrepreneurship," and added, "We will strive to spread the startup culture and develop the local industrial ecosystem based on our innovative research capabilities."
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