KAIST (President Kwang Hyung Lee) announced on the 29th that it has solicited a development fund of KRW 1 billion from MVITRO (CEO Young Woo Lee) for joint research at the KAIST-NYU Joint Campus, which is being pursued to be KAIST's first campus on the United States.
KAIST plans to use this development fund for research and development of various solutions in the field of 'Healthcare at Home' among several joint researches being conducted with New York University (hereinafter referred to as NYU).
Young Woo Lee, the CEO of MVITRO, said, "We decided to make the donation with the hope that the KAIST-NYU Joint Campus will become an ecosystem that would help with Korean companies’ advancement into the US."
After announcing its plans to enter New York in 2021, KAIST has formed partnerships with NYU and New York City last year. Currently, NYU and KAIST are devising plans for mid- to long-term joint research in nine fields of studies including AI and bio-medicine and technology, and are promoting cooperation in the field of education, including exchange students, minors, double majors, and joint degrees under the joint campus agreement,
The ceremony for the consigning of MVITRO Co., Ltd.’s donation was held at the main campus of KAIST in the afternoon of the 29th and was attended by KAIST officials such as President Kwang Hyung Lee and Jae-Hung Han, the executive director of KAIST Development Foundation, along with the NYU President-Designate Linda G. Mills, and the CEO of MVITRO, Young Woo Lee.
< Photo. (from left) Kwang Hyung Lee, the President of KAIST, Linda G. Mills, the President-Designate of NYU, and Young Woo Lee, the CEO of MVITRO, pose for the photo with the signed letter of donation on May 29, 2023 at KAIST >
Linda Mills, the nominee designated to be NYU president next term said, “I am proud to join our colleagues in celebrating this important gift from MVITRO, which will help support the partnership between KAIST and NYU. This global partnership leverages the distinctive strengths of both universities to drive advances in research poised to deliver profound impact, such as the intersections of healthcare, technology, and AI."
President Kwang Hyung Lee said, "The KAIST-NYU Joint Campus will be the first step in extending KAIST's excellent science and technology capabilities to the international stage and will serve as a bridgehead to help excellent technological advancements venture into the United States." Then, President Lee added, "I would like to express my gratitude to MVITRO for sympathizing with this vision. I will work with NYU to lead the creation of global values.”
On a different note, MVITRO Co., Ltd., is a home medical device maker that collaborated with Hyundai Futurenet Co., Ltd. to develop an IoT product that combined a painless laser lancet (blood collector) and a blood glucose meter into one for a convenient at-home health support, which received favorable reviews from overseas buyers at CES 2023.
The KAIST Development Foundation announced on May 9 that an anonymous donor in his 50s made a gift of real estate valued at 30 billion KRW. This is the first donation from an anonymous benefactor on such a grand scale. The benefactor expressed his wishes to fund scholarships for students in need and R&D for medical and bio sciences. According to the Development Foundation official, the benefactor is reported to have said that he felt burdened that he earned much more than he needed and wa2022-05-11
CEO Beom-Jun Kim of Woowa Brothers also known as ‘Baemin,’ a leading meal delivery app company, made a donation of 100 million KRW in honor of the late Professor Kyong-Yong Chwa from the School of Computing who passed away last year. The fund will be established for the “Kyong-Yong Chwa - Beom-Jun Kim Scholarship” to provide scholarships for four students over five years. Kim finished his BS in 1997 and MS in 1999 at the School of Computing and Professor Chwa was his a2022-03-25
President Lee signs an MOU with New York-based Big Continent Inc. Chairman Hee-Nam Bae on funding the New York campus President Kwang Hyung Lee announced a plan to open a KAIST campus in New York with funding from New York-based entrepreneur Hee-Nam Bae. President Lee and Big Continent Inc. Chairman Hee-Nam Bae signed the MOU last week for the funding to open the campus in New York. President Lee said it will take years to open up a campus in New York in order to conform with both Korean an2021-12-13
Dong-Myoung Kim donated 2 billion KRW to fund the Kim Jae-Chul AI Graduate School Dong-Myong Kim, a 90-year-old resident living in Seongnam City in Kyonggido made a gift of 300 million KRW in cash and property valued at 1.7 billion KRW to fund the Kim Jae-Chul AI Graduate School. KAIST President Kwang Hyung Lee and a senior leadership team warmly received Kim during the donation ceremony on December 6 and delivered a plaque of appreciation. Kim, a certified judicial scrivener, sent a letter2021-12-08
Jungheung Group, a construction company in Korea, made a pledge to donate 30 billion KRW for semiconductor research and education at KAIST. Junghueng will spend 20 billion KRW to construct the semiconductor education and research facilities that will be established in Pyeongtaek City in collaboration with Samsung Electronics, and 10 billion will go for supporting the educational training program. The pledge ceremony was held at the Daejeon campus with Jungheung Group Chairman Chang-Sun Jung, K2021-07-20