Kim Jae-cheol, honorary chairman of Dongwon Group, made a large donation to the Korea Advanced Institute of Science and Technology (KAIST) to elevate its artificial intelligence (AI) education capabilities to the world’s top level.
KAIST noted on the 6th that Kim donated 4.4 billion won to strengthen its AI education and research infrastructure. This is the second time Kim has made a donation, following his previous contribution of 50 billion won in 2020.
Kim requested that KAIST equip itself with the highest global level of capability in the AI field while promising his first donation. KAIST used the funds to establish the Kim Jae-cheol Graduate School of AI. As of 2023, KAIST was evaluated as having the 5th highest capability based on papers presented at major conferences in the AI field. Consequently, Kim again requested KAIST to elevate its AI research capability to the world's number one.
Lee Kwang-hyung, president of KAIST, said, "Currently, there are 45 AI professors at the world’s number one institution, Carnegie Mellon University (CMU)," adding that "KAIST should also expand its research staff in the Graduate School of AI from the current 20 to 50 and needs to build new research facilities to focus on research.” Kim reassured, “I will fund the building, so don’t worry,” which led to this additional donation.
KAIST will invest a total of 48.3 billion won, combining the remaining 43.9 billion won from the first donation and the current 4.4 billion won, in constructing a new education and research building. The building will span eight floors above ground and one underground, with a total area of 18,182 square meters (5,500 pyeong). It is expected that 50 faculty members and 1,000 students will use the facility, which aims to be completed by 2028.
Kim remarked, "When I was young, I sought Korea's future in the sea, but in the AI era, the new future will be in the sea of data," and expressed hope that "Korea will nurture key talents to become a leader in the data age and lead the Fourth Industrial Revolution."