UNIST Holds Ceremony to Commemorate Full Payment of 30 Billion Won Donation by Deoksan Group Honorary Chairman Junho Lee

Early Fulfillment of Pledge... Construction of 'Challenge Convergence Hall' as the Center of the Southeastern Startup Belt
Honorary Chairman Lee Supports the Renaissance of the Future Industrial Ecosystem and Startup Vitalization

UNIST held a ceremony on the afternoon of August 11 at the university headquarters to commemorate the full payment of a 30 billion won development fund donation by Junho Lee, Honorary Chairman of Deoksan Group.

Junho Lee, Honorary Chairman of Deoksan Group (right), and Jongrae Park, President of UNIST, are holding a ceremony on the 11th at the UNIST headquarters in Ulsan to celebrate the early completion of a 30 billion won donation and are taking a commemorative photo. Photo by UNIST

The event was attended by Honorary Chairman Lee, Suhoon Lee, Chairman of Deoksan Group, President Jongrae Park, key university officials, and representatives of student startup companies, who reflected on the significance of the donation.

This donation aims to help build Ulsan's future advanced industrial ecosystem and to promote the growth of local ventures.

It is an industry-academia cooperation fund established through UNIST to both modernize existing core industries such as automotive, shipbuilding, and petrochemicals, and to expand the industrial landscape into new sectors such as semiconductors, AI, and bio.

Honorary Chairman Lee explained the background of his donation by saying, "The future that UNIST is building aligns with my long-held dream of innovating traditional manufacturing." He added, "When I started my business in Ulsan over 40 years ago, I faced a harsh environment and went through countless trials and errors. Now, I hope that the next generation will face fewer hardships and be able to take on the global market. I wish to be a stepping stone for young venture entrepreneurs in Ulsan."

In response, President Jongrae Park expressed his gratitude, stating, "With this donation, we will create a platform for innovation where students can freely take on challenges and help transform the future of the region and the nation. We will make sure to use this fund wisely to drive a paradigm shift in Ulsan's industry and to strengthen national competitiveness."

The event included a welcoming address and congratulatory remarks, followed by the donor's speech, presentations on strategies to vitalize the startup ecosystem, case studies from student startups, and the official donation handover ceremony.

Honorary Chairman Lee pledged the 30 billion won development fund in 2021, making it the largest single donation since UNIST's founding. He first donated shares worth 2.7 billion won in 2023, and this year, he contributed additional shares worth 27.3 billion won, completing the full payment ahead of schedule.

The donation will be used to construct the 'Challenge Convergence Hall,' a facility designed to promote the local startup ecosystem and cultivate technological talent. This space is envisioned as a hub for convergence-driven innovation, equipped with experimental startup education, incubation facilities, and a global industry-academia cooperation infrastructure. Based on this, UNIST plans to establish itself as the hub of the 'Busan-Ulsan-Gyeongnam Startup Belt,' leading the industrial transformation of the southeastern region.

The 'Challenge Convergence Hall' will also function as a joint startup campus shared by local governments, universities, and companies. Venture capital firms and accelerators will be stationed on-site, and research-based startups led by professors and students are expected to gain momentum. This will fully activate a 'startup fast track' system, allowing laboratory ideas to be commercialized quickly.

To date, UNIST has produced a total of 194 startup companies, with their cumulative value reaching approximately 1.3 trillion won. Recently, UNIST Technology Holdings was selected as the operator of a 12 billion won public technology commercialization fund, accelerating the commercialization of research achievements and technologies.

President Park stated, "UNIST was born from the aspirations of Ulsan's citizens. We will help young people succeed and become a university that provides growth engines for the region. Ulsan will no longer be a city that young people leave, but will transform into a city that attracts entrepreneurs."

Deoksan Group is a mid-sized company that has driven the localization of materials and components in national core industries such as semiconductors, OLEDs, and secondary batteries through its proprietary technology.

This donation is expected to lay the foundation for a renaissance by promoting the entry of local venture entrepreneurs onto the global stage and fostering the future industrial ecosystem.