Booyoung's Lee Joonggeun Donates 20 Billion Won for Completion of KAIST Seoul Dormitory Remodeling

Comprehensive Renovation of Dormitories Over 50 Years Old

Booyoung Group announced on September 18 that it held a dormitory remodeling completion and donation ceremony at the Seoul campus of the Korea Advanced Institute of Science and Technology (KAIST) in Dongdaemun-gu, Seoul. The event was attended by Lee Joonggeun, Chairman of Booyoung Group, Lee Kwanghyung, President of KAIST, as well as key officials and students.

Last year, Booyoung Group signed a remodeling donation agreement worth a total of 20 billion won to improve the aging dormitory facilities at KAIST. Following the remodeling of the dormitories at the Daejeon campus in February this year, the company has now completed the renovation of Sojeongsa and Pajeongsa dormitories at the Seoul campus.

Lee Joonggeun, Chairman of Booyoung Group. Booyoung Group

At the completion ceremony, Chairman Lee stated, "This project began with the hope that Korea's scientific talents could focus on their studies and research in a stable environment, and it has now come to fruition." He added, "I hope this will serve as a foundation for KAIST to grow into a world-leading university in science and technology innovation." President Lee Kwanghyung responded, "We will devote our utmost efforts to nurturing the world's best talents."

Sojeongsa (completed in 1972) and Pajeongsa (completed in 1975) at the Seoul campus have been in use for over 50 years, and their aging condition had caused inconvenience for students. Booyoung Group carried out a comprehensive renovation, including exterior construction as well as upgrades to mechanical, electrical, telecommunications, and fire safety facilities. In appreciation, KAIST renamed the dormitories "Ujeong Sojeongsa" and "Ujeong Pajeongsa," after Chairman Lee's pen name.

Guided by his belief that "education is a hundred-year plan for designing the nation's future," Chairman Lee has so far built and donated over 130 dormitories, libraries, and gymnasiums to elementary, middle, high schools, and universities nationwide. He also established Ujeong Academy, which operates five schools including Hwasun Neungju Middle and High School, Seoul Deokwon Girls' Middle and High School, and Deokwon Arts High School. In addition, after acquiring Changshin University, he provides full scholarships for the first year to all new students.

Recently, Chairman Lee proposed designating October 24, the founding day of the United Nations, as a national holiday to express gratitude to the 60 UN member countries that supported Korea during the Korean War and to carry on the spirit of the times.

Booyoung Group has donated a total of 1.2 trillion won to date, not only for education and scholarships but also for raising historical awareness, supporting disaster relief funds, sponsoring underprivileged children, and promoting the globalization of Taekwondo, thereby setting a model for exemplary ESG management.