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A KAIST Student Donates USD 26,000 to His Alma Mater
A KAIST undergraduate student who developed and sold a smart phone application donated USD 26,000 to his alma mater. Seung-Kyu Oh of the School of Electrical Engineering gave his donation to President Steve Kang of KAIST on November 24, 2015. This is the largest amount donated by an enrolled undergraduate. In 2010, at a time when android smart phones were just being released, Mr. Oh decided to develop a subway app because existing subway apps were not user-friendly. Mr. Oh’s “Subway Navigation” app checks the current operation hours and gives users the shortest path when the user selects points of departure and arrival. The calculation for the shortest path involves factors such as which train comes first, where and to what train to transfer, the first and last trains of the day, transfer passageway usage time, etc. To make the app useful to the largest number of people, Mr. Oh distributed it on the open market. Currently, the app is ranked the second most downloaded subway app, and has even made considerable advertising profits, having accumulated more than 5,000,000 users. This year, Mr. Oh received an offer from Kakao, an Internet company based in Seoul, Korea, to take over the app and sold it to them. Mr. Oh said that making a donation KAIST was the first thing that came to his mind when he earned this profit. Mr. Oh, who graduated from the Korea Science Academy, a science magnet high school, said that he felt a sense of responsibility for receiving support from Korea since high school, and that he decided to donate to KAIST as a way of returning the support that he had received so far. He further said that “if an individual’s efforts and talents created some profit together with what he or she learned from school, then the school that supported the student in furthering his studies has also played a significant role,” and that “likewise, our stellar alumni can contribute more to our younger classmates’ growth and development.” Mr. Oh, who is at his last semester, plans to join Kakao and will take on a job managing his subway app. President Kang said he hopes that “all KAISTians will emulate Mr. Oh’s example to support the school” and that “the university will use the money to invest further in its future.”
KAIST Receives a Donation of USD 6.41 Million
“We’ve made a real effort to save our money, but can’t spend it all just on ourselves. Please use it to foster talented students in the field of science, who will enrich our country,” said donors at the donation ceremony held today on campus. A married couple in their 70s donated their real estate, worth approximately USD 6.41 million, to KAIST on November 16, 2015. Seung-Woong Lee, the husband, and Jeong-Ja Cho, his wife, turned over three properties, including buildings in Seoul and Uijeongbu, to the university. The couple made a promise to themselves to return their assets back to the Korean society since the beginning of their marriage life. They decided that KAIST was the institution with the most potential to contribute to Korea’s growth. This spring they took that step. The Lee couple said, “We strove to be frugal to gather such a sum of money. We engaged in all sorts of jobs after we left for Seoul from the countryside when the nation was impoverished.” Mr. Lee said, “On one snowy winter day, I was riding a bicycle on my way back home. Then I saw a restaurant and, at that moment, I yearned for a bowl of soup in such cold weather. But I just rode past because the whole family could eat with the money that I would spend for the soup.” Ms. Cho said, “At the beginning, I was rather unhappy with my husband’s very frugal personality. But as time passed, I noticed I had become just like him.” She added, smiling, “I often wandered around the market to get even the smallest discounts, and the shops sometimes refused to sell me the goods.” Their assets are the result of that work ethic and humility. The couple said, “Today is definitely the happiest day of our life because we would keep our promise. We hope that KAIST will foster outstanding talents in the field of science and technology, students who will advance our nation in the future.” President Steve Kang of KAIST said, “I would like to express my most sincere gratitude toward to this generous couple who have donated their lifetime assets so willingly to KAIST. Their invaluable support will surely become our springboard to continuously pursue our excellence in science and technology.” In the picture from left to right are Ms. Jeong-Ja Cho (wife), Mr. Seung-Woong Lee (husband), and President Steve Kang.
KAIST and Chongqing University of Technology in China Open an International Program
With the help of KAIST, Chongqing University of Technology (CQUT) in China established an electrical engineering and computer science program and admitted their first 66 freshmen this fall semester. The joint program was created to foster skilled engineers in the fields of electrical engineering and computer science, which are necessary for the development of the Korean and Chinese Industrial Complex located in Chongqing City. KAIST has provided CQUT with a majority of the program’s curricula currently offered to its students in Daejeon, Korea. Under the jointly administered program, KAIST takes on education and research while CQUT is responsible for student selection and administration. KAIST has dispatched eight professors to teach the related fields in English, and 17 CQUT professors will teach the rest of the curricula. In August 2014, KAIST and CQUT singed a cooperation agreement for education and research exchange and created the CQUT-KAIST Education Cooperation Center, which is headed by Professor Young-Nam Han of the Electrical Engineering Department at KAIST. The two universities will expand their collaboration to include graduate programs by 2016. In the picture below, President Steve Kang of KAIST (right) shakes hands with President Shi Xiaohui of Chongqing University of Technology (left).
Experts Gather to Develop a Korean Supercomputer on KAIST Campus
KAIST hosted an inauguration ceremony for the Super-Capacity Computing Advancement Forum on July 2, 2015, to increase Korea's national computing capacity. It represents a gathering consisting of experts drawn across industry, university, and institutes in super-capacity computing. More than ten experts from the university, including President Steve Kang and Professor Oh-Joon Kwon of the Department of Aerospace Engineering, attended the ceremony. This forum was created to secure a competitive edge in the global market by establishing a long-term strategy for the development of super computers. The recent rise of new service industries, such as voice recognition, artificial intelligence, and the Internet of Things, has increased the need for super-capacity computing to deal more rapidly with big data. The need is made more urgent by increased investment by leading countries in this field. The forum will organize and operate working-level subcommittees to promote in-depth discussions on issues related to super-capacity computing systems. Open forums and public hearings will be held until October, to gather information and insights needed to advance the field. President Steve Kang, the Chairman of the Forum, said, “The forum will have a great impact on Korea’s effort to become a world leader in super-capacity computing. We plan to debate the pros and cons of potential solutions to the Korean government, to assist them in building the nation’s competitiveness in super-capacity computing capability.”
KAIST and Sejong City Goverment Agree to Establish a Graduate School of Medical Science and Engineering
KAIST and the government of Sejong City will cooperate to establish a graduate school of medical science and engineering. On June 11, 2015, President Steve Kang of KAIST and Mayor Choon-Hee Lee of Sejong City signed a memorandum of understanding at the city hall of Sejong to establish the school. Under the agreement, the two organizations will work out details to establish the graduate school in Sejong on such issues as administrative assistance, financial support, curriculum development, and the creation of an environment conducive to the growth of medical science. President Kang said, “Once this graduate school is established, KAIST will be able to offer Korea and the world top-notch researchers in the field of medical science. I have high hopes that the school will produce high-impact research breakthroughs and lead in the advancement of interdisciplinary studies in biotechnology.” In the picture below, President Steve Kang of KAIST (third from the left) holds the signed memorandum of understanding with Mayor Choon-Hee Lee of Sejong (fourth from the left).
KAIST to Host Conference on the Financial Technology Industry
To take place in the Korea Federation of Banks building on May 21, 2015, Seoul Around 200 individuals to be present including Oh-Kyu Kwon, the former Minister of Finance and Economy and Chang-Hyun Yun, the former president of Korea Institute of Finance KAIST will hold a conference to discuss prospects for Korea’s financial technology industry (FinTech) and to address the rapid changes taking place in both national and global finance markets. The conference will be held in the Convention Hall of the Korea Federation of Banks building in Myeongdong, Seoul on May 21, 2015 with a theme entitled “The Challenge and the Task of Korean FinTech Industry in the Global Finance Market.” Around 200 individuals including Oh-Kyu Kwon, the former Minister of Finance and Economy, Jiwon Jung, a member of a standing committee of Financial Services Commission, and Steve Kang, the President of KAIST will attend the meeting. The term “FinTech” originates from the combination of two words, finance and technology, to describe a new form of financial system based on Information Technology (IT). The precise definition and boundary of FinTech is not fully established yet, but this will provide Korea with an opportunity to take the lead in the finance industry with its cutting-edge IT. The conference will focus on the methods by which Korean FinTech companies can acquire a competitive edge in the global finance market. The keynote speaker, Tong-Suk Kim, the Dean of College of Business, KAIST, will speak about “The Challenge and the Task of Korean FinTech.” The talk will emphasize how the FinTech industry can create an innovative industry, destroying the existing paradigm of payment system and Internet-only banks. The keynote speech will be followed by a talk on “The Requirements for Establishing Korean FinTech Ecosystem” by Jong-Hyun Kim, a researcher at Woori Finance Research Institute, Korea. Additional talks, which will be given by KAIST professors, are: “Korean Economy and the Role of FinTech” by Professor Young-Sun Kwon of the Department Business and Technology Management; “Korean FinTech in ICT Perspective” by Professor Yoon-Joon Lee of the Department of Computer Science; “The Current State and Possibilities of Korean FinTech” by Professor Byung-Tae Lee of the School of Management Engineering; and “The Task and Challenge of Promoting FinTech Industry” by Professor Byung-Chun Kim of the School of Management Engineering. Also, Professor Chang-Hyun Yoon of the School of Business Administration, University of Seoul, will give a talk on “The Crisis in Korean Finance Industry and the Role of FinTech.” The conference will also hold a discussion session on “The Promotion Methods for Korean FinTech Industry.” Participants for the discussion will include Jae-Sung Song from the Ministry of Science, ICT and Future Planning, Dong-Hwan Kim from the Financial Services Commission, Jeon Jin from Samsung Economic Research Institute (SERI), Hyo-Jin Lee of 8Percent, In-Chang Hwang from the Korea Insurance Research Institute, and Jae-Kyu Lee from Koscom. Byung-Chun Kim, the Director of KAIST’s Financial Engineering Research Center, who organized the FinTech conference said, “FinTech industry will evolve from simply attempting to attract consumers to understanding the lifestyle patterns of consumers to provide customized service and information.”
KAIST and Hancom Sign for Development of Mobile Healthcare
KAIST signed a memorandum of understanding with Hancom, Inc., an office suite developer in Korea, to foster mobile healthcare software programs. President Steve Kang and Chairman Sang-Chul Kim of Hancom held a signing ceremony on March 13, 2015 at the KAIST campus. Based on the agreement, KAIST and Hancom will exchange research personnel to build Dr. M, a smart healthcare platform developed by the university, collaborate in research and development, and cooperate in the transfer of research developments from the university to the software industry including Hancom. KAIST and Hancom also signed a memorandum of understanding on the development of software in April 2014. The Hancom-KAIST Research Center opened on campus last October.
President Steve Kang Received an Honorary Degree from Fairleigh Dickinson University
At its 71st Commencement held on May 20, 2014, Fairleigh Dickinson University (FDU) in Teaneck, NJ, conferred an honorary doctorate (Doctor of Science) on President Steve Kang. FDU is President Kang’s alma mater. He received a bachelor’s degree from FDU in electrical engineering in 1970. For details, please refer to the press statement released by FDU on May 20, 2014. Fairleigh Dickinson University holds 71st Commencement on May 20 During the Commencement ceremony, the University will confer honorary degrees on Joyce Carol Oates, Rachel Robinson, and Sung Mo “Steve” Kang (BSEE’70). http://inside.fdu.edu/prpt/71st_commencement.html
KAIST and Seoul National University Agree to Expand Cooperation in Education and Research
The presidents of two top-notch universities in Korea, KAIST and Seoul National University (SNU), met on July 23rd at the SNU campus and agreed to expand their academic cooperation to promote the univresities" mutual development. To start, President Yeon-Cheon Oh of SNU proposed a student exchange program through which SNU students can take courses at KAIST for six months. In return, President Steve Kang suggested that KAIST establish a liaison office on the SNU campus to facilitate better communication between two universities, thereby developing more exchange programs for research and education.Additionally, the two public universities will set up a task force to implement the agreement, conduct joint research programs, and hold regular meetings between their faculty members.President Kang said, “SNU has superb academic and research programs not only in the fields of science and technology but also in the humanities, arts, and social sciences. KAIST will surely benefit from SNU’s excellence in a broad range of academic disciplines, and SNU will have an opportunity to capitalize on KAIST’s expertise in science, engineering, and technology to enhance its growth.”At the conclusion of their consultation, the presidents expressed the hope that the agreement will strengthen the two institutions" capacity for competitiveness and globalization, preparing them to compete with leading universities in the world.
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