KAIST to Establish New York Campus in the US... Harvard and MIT 'Drop Main Base'

Utilized for Learning and Research Development by Domestic Students and Faculty, Also Fostering Campus Ventures
Dreaming to Become a World-Class Education and Research Institution Surpassing MIT and Harvard University in the Future

Commemorative photo of the signing ceremony for the establishment of KAIST New York Campus Memorandum of Understanding (from left, KAIST President Kwang Hyung Lee, Chairman Hee Nam Bae)

[Asia Economy Reporter Kim Bong-su] The Korea Advanced Institute of Science and Technology (KAIST), which aims to surpass Harvard University and MIT in the United States, is establishing a campus in New York, USA, their strategic base. The plan is to use it as a foundation to nurture the dreams and capabilities of Korean students and professors, while transforming into a global education and research institution through disruptive innovation technology development and talent education via international research collaboration. This is the full-scale implementation of the so-called 'Global Twin Strategy.'

KAIST announced on the 12th that President Lee Kwang-hyung met with Chairman Bae Hee-nam of the Global Leadership Foundation (GLF) group in New York on the 9th and signed a Memorandum of Understanding to cooperate in establishing the New York Global Campus. KAIST plans to select and purchase the campus site and buildings by next year, and officially obtain permits from Korean and U.S. educational authorities to operate the campus. Initially, it will serve as a base where students and professors currently enrolled at the Korean main campus can study and conduct research while nurturing their 'grand dreams.' Additionally, leveraging the global network, it will become a hub for joint research with scientists worldwide, including the U.S., and actively utilize the global market and financial markets established in New York during the technology commercialization process of campus research startups.

President Lee stated, "To provide global education, we will show students a broader and bigger world to encourage their progress. Professors will build global networks for joint research, and campus startups will enter the global market and launch businesses while observing the market. Our goal is to function as a support system for global market entry." He added, "This will be an opportunity to change the paradigm of education in our country. It is a new approach to instill a unique global spirit of challenge in students and to create global value through challenge and innovation. It was promoted to elevate the status of a top-tier science and technology university internationally."

KAIST is determined to compete with prestigious East Coast U.S. universities such as Harvard and MIT through intensive research, development, and education in science and technology fields where Korea has strengths, at the New York campus.

President Lee already visited candidate campus sites in Long Island and Staten Island, New York, on the 9th. Detailed consultations with the board and government will proceed in the future.

He said, "It will also help attract foreign students, professors, and researchers," adding, "I have always been concerned whether students might settle for focusing only on grades within the domestic environment and mindset, or whether professors might be satisfied with being the first domestically rather than globally." He continued, "I believe that KAISTians are not lacking compared to Harvard or MIT in ability but in the size of their dreams. Therefore, rather than targeting only the domestic market in education, research, and startup activities, we will encourage and support a global perspective and experience to expand worldwide." He added, "This year marks the 50th anniversary of our founding, and I feel it is time to embark on a new path. From now on, we will nurture talents who set ambitious goals on the global stage and challenge themselves to achieve those dreams."