The Korea Advanced Institute of Science and Technology (KAIST) announced on May 1 that its Department of Computer Science has established a scholarship fund worth 2 billion won to support students facing financial difficulties. The donations included contributions from alumni, professors, current students, and also from Kim Byung-kyu, chairman of KRAFTON.
The Department of Computer Science began fundraising in May 2024 and secured 1 billion won through the donation of alumni Lee Beom-kyu, who co-runs the non-degree program "SW Academy Jungle." Additionally, Chairman Kim Byung-kyu donated another 1 billion won, bringing the total fund size to 2 billion won.
The fundraising involved participation from current students, alumni, faculty, and both former and current professors. The couple Kim Jeong-taek and Ahn So-yeon, both from the class of 1992, donated 200 million won, while the couple Seo Ha-yeon, from the class of 1995, and Han Dong-hoon, from the class of 1996, donated 40 million won. Honorary Professor Hwang Gyu-young and New York University Professor Cho Kyung-hyun also contributed to the scholarship fund. In particular, alumnus Lee Seung-hyun donated the full amount of $220,000 (equivalent to 300 million won) as a reward he received for reporting a vulnerability in Google's Chrome browser.
Ryu Seok-young, the head of the Department of Computer Science, said, "I hope this scholarship allows students who have faced constraints in their career choices due to financial difficulties to take on their desired challenges for a semester or a year," and added, "I expect support to begin in the fall semester of 2025, and that the scholarship system will be expanded to the entire KAIST."
Chairman Kim Byung-kyu emphasized, "I decided to do a matching donation because I resonate with the intention to prioritize support for students who are contemplating their career paths for economic reasons," and noted, "I hope this will encourage the restructuring of the scholarship system at the school level."
President Lee Kwang-hyung stated, "Students should not have to give up their studies and dreams for economic reasons," and added, "We will actively develop the scholarship system in line with the wishes of the donors."
The KAIST Development Foundation plans to expand the "TeamKAIST" campaign, which allows participation from the general public and alumni, leveraging this fund to discover more sponsors.