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KAIST, the Korea Advanced Institute of Science and Technology, reported on the 16th that Kim Jae-chul, the honorary chairman of Dongwon Group, has further contributed 5.9 billion Korean won as a development fund to enhance the training of AI (artificial intelligence) talent and research facilities. As a result, the total contributions from the honorary chairman to KAIST have now reached 60.3 billion Korean won. Earlier, in 2020, the honorary chairman provided 50 billion Korean won to KAIST as a development fund, encouraging the institution to achieve top-tier capabilities in the AI sector. Moreover, in January of last year, he committed an additional 4.4 billion Korean won in donations.

KAIST, which created the ‘Kim Jae-chul AI Graduate School’ using the honorary chairman’s development fund, intends to finish constructing an educational and research facility by February 2028 in Pangyo-dong, Bundang-gu, Seongnam-si, Gyeonggi Province. The structure will consist of eight floors above ground (including one basement level) with a total area of 18,182 square meters (around 5,500 pyeong).

KAIST President Lee Kwang-hyung said, “We aim to develop the Kim Jae-chul AI Graduate School into a center where leading global AI experts come together to drive innovation, fulfilling the expectations we have been given.” Honorary Chairman Kim Jae-chul remarked, “I hope that top talents nurtured here will help enhance national competitiveness,” and added, “I hope this donation acts as a modest trigger for South Korea’s advancement as a leading AI country.”

In October last year, the honorary chairman also committed 25 billion South Korean won in donations to Seoul National University, asking that the money be allocated for developing AI expertise.