Dongwon Group said on the 16th that Honorary Chairman Kim Jae-cheol signed a pledge to make an additional donation of 5.9 billion won to the Korea Advanced Institute of Science and Technology (KAIST). Kim, the honorary chairman, is the founder of Dongwon Group and Korea Investment Holdings.
According to Dongwon Group, Honorary Chairman Kim has donated a total of 60.3 billion won of his personal funds to KAIST to foster talent in Korea's artificial intelligence (AI) field and lay the foundation for related industries. In 2020, Kim donated 50 billion won to KAIST to establish the "Kim Jae-cheol AI Graduate School," and later contributed an additional 4.4 billion won.
Dongwon Group said that as the design of the Kim Jae-cheol AI Graduate School building has moved into full swing, it decided to donate an additional 5.9 billion won to cover the shortfall for smooth construction. KAIST plans to build the Kim Jae-cheol AI Graduate School building in Pangyo, Seongnam, Gyeonggi Province, with Kim's donation.
The Kim Jae-cheol AI Graduate School is expected to be completed in Feb. 2028 with a footprint of about 5,500 pyeong (18,182 square meters). After completion, it is expected to serve as a world-class AI research hub accommodating 50 faculty members and 1,000 students.
Kim said, "I hope this donation will serve as a small primer on Korea's path toward becoming an AI-advanced nation," adding, "I expect that, going forward, global top talent will grow here and contribute to strengthening national competitiveness."