fund
“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.
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