Jaecheol Kim, Honorary Chairman of Dongwon Group, Makes Generous Donation of 60.3 Billion Won to KAIST

"In the era of artificial intelligence (AI), a new future lies in the ocean of data. I hope that KAIST will rise to become the world's top AI research group." This was the message left by Jaecheol Kim, Honorary Chairman of Dongwon Group, as he made a generous donation to KAIST.

On January 16, KAIST announced that Honorary Chairman Kim has pledged an additional 5.9 billion won in development funds, bringing his total donation to 60.3 billion won.

Jaecheol Kim, Honorary Chairman of Dongwon Group. Courtesy of KAIST

This is Kim's second donation since 2020. He has requested that the funds be used to foster AI talent and strengthen research infrastructure.

The establishment of the current "KAIST Graduate School of AI" was also made possible by Honorary Chairman Kim's donation in 2020. Since then, he has hoped that KAIST would achieve world-class capabilities in the field of AI.

Recently, upon hearing that KAIST's AI research has ranked fifth among global universities over the past five years, he pledged this additional donation, requesting that the ranking be raised to first place. The newly pledged funds will be used to cover the shortfall in the construction costs of the AI education and research building.

Previously, President Kwang Hyung Lee told Honorary Chairman Kim, "Carnegie Mellon University (CMU), which is currently recognized as the world leader in AI, has 45 faculty members in its AI department. To surpass CMU, the KAIST Graduate School of AI needs to expand its faculty to over 50 members and build a new research building dedicated to research."

In response to this explanation, Honorary Chairman Kim replied, "I will build the building for you," and it is said that this additional donation was made to fulfill that promise.

The AI education and research building will have a total floor area of 18,182 square meters (5,500 pyeong), with one basement level and eight above-ground floors, and is scheduled for completion in February 2028. Once completed, it is expected to serve as a world-class AI research hub, accommodating 50 faculty members and 1,000 students.

Separately, since 2021, KAIST has been selecting an additional 60 master's students and 10 doctoral students each year as "Dongwon Scholars," in addition to its regular admissions quota, for a period of 10 years. These master's and doctoral students have received tuition and research grants from the donation for three years, and starting in 2024, KAIST is allocating its own budget to create an environment where the scholars can focus on their research.

Going forward, KAIST plans to build a world-class faculty at the Jaecheol Kim Graduate School of AI and operate a systematic master's and doctoral program to nurture global AI talent.

Honorary Chairman Kim stated, "I hope this donation will serve as a small catalyst for Korea to advance as a leading nation in AI. Above all, I look forward to seeing global core talent grow here at KAIST and ultimately contribute to enhancing the nation's competitiveness."

President Lee responded, "Honorary Chairman Kim's unwavering support will be a driving force for KAIST to secure global AI leadership. We will ensure that the Jaecheol Kim Graduate School of AI grows into a mecca where the world's top AI talent gathers to drive innovation, fully living up to the Honorary Chairman's expectations."