Old Dormitory Disappeared... Booyoung Lee Joong-geun 20 Billion, KAIST Remodeling Completed

Received Honorary Doctorate Degree
Recognized for Contributions to the Advancement of Science and Technology

Booyoung Group announced on the 14th that it has completed the remodeling of the aging dormitories at KAIST, funded by a donation from Chairman Lee Joong-geun.

On the same day, Chairman Lee attended the completion ceremony of the dormitory remodeling held at the Woojeong Research Building (formerly Nanum Hall) on the KAIST Daejeon campus. This project was initiated with a donation of 20 billion KRW from Chairman Lee to renovate the old dormitories. Chairman Lee has been contemplating and proposing solutions to social issues such as low birth rates and aging populations. This donation was also made as part of nurturing talent in science and technology.

The completion ceremony was attended by Kim Myung-ja, Chairperson of the KAIST Board of Trustees, and Lee Kwang-hyung, President of KAIST, among others. KAIST awarded Chairman Lee an honorary doctorate degree in recognition of his contributions to the advancement of science and technology.

The remodeled dormitories include four buildings: Nanum Hall on the Daejeon campus, Gungdong Apartments, Sojeongsa, and Pajeongsa on the Seoul campus. Nanum Hall, completed in 1989, had ceased operation due to aging, and the Gungdong Apartments, built in 1993, had deteriorated facilities causing inconvenience to students. Sojeongsa and Pajeongsa, constructed in the early to mid-1970s, were in a severely dilapidated state.

Chairman Lee Joong-geun of Booyoung Group. Photo by Yonhap News

Booyoung Group remodeled not only the exterior but also the overall facilities including mechanical, electrical, communication, and fire safety systems. KAIST named the newly transformed dormitory after Chairman Lee’s pen name, ‘Woojeong (宇庭).’

At the completion ceremony, Chairman Lee said, "I am pleased that the long-awaited dormitory remodeling at KAIST has been completed," adding, "I hope students will study freely in a good environment and grow into talents who contribute to the development of national science and technology." A KAIST official stated, "Chairman Lee’s support has been a great help in laying the foundation for scientific research," and added, "In recognition of his contributions to national and social development, we awarded him an honorary doctorate."

Chairman Lee has consistently supported education by donating over 130 dormitories, libraries, and gymnasiums to elementary, middle, high schools, and universities nationwide. He established the Woojeong Academy, which operates five schools including Neungju Middle and High School in Hwasun, Jeonnam, Deokwon Girls’ Middle and High School, and Deokwon Arts High School in Seoul. He also acquired Changshin University and provides full scholarships for one year to all new students, contributing to the development of local talent.

He has also addressed the low birth rate issue. Since 2021, Booyoung Group has been providing 100 million KRW per child to employees who have given birth, creating a significant impact in the business community. As President of the Korea Senior Citizens Association, he proposed raising the age definition for seniors, which the Ministry of Health and Welfare selected as a key task for 2025. Recently, he gained attention by proposing the re-designation of United Nations Day as a national holiday, aiming to express gratitude to the 60 UN countries that helped South Korea during the Korean War and to improve diplomatic relations.