On August 11, UNIST held a ceremony at the Main Administration Building to celebrate the completion of a KRW 30 billion development fund donated by Duksan Group Honorary Chairman Junho Lee. Attended by Chairman Lee, Duksan Group President Soo-Hoon Lee, UNIST President Chong Rae Park, university officials, and student startup representatives, the event underscored the significance of this generous contribution.
The donation aims to strengthen Ulsan’s future-oriented industrial ecosystem and invigorate regional startups. Funds will support industry-university collaboration to modernize the existing core sectors, such as automotive, shipbuilding, and petrochemicals through smart technologies, while also fostering emerging industries, like semiconductors, AI, and biotech.
Honorary Chairman shares his thoughts, urging that the donation, earned through the dedication of Duksan Group employees, be used meaningfully to revitalize startup activities.
Honorary Chairman Lee emphasized that the donation, made possible by the dedication of Duksan Group employees, should be used meaningfully to promote entrepreneurship and regional growth. Chairman Lee shared his heartfelt motivation, stating, “UNIST’s vision aligns with my goal to transform traditional manufacturing.” Reflecting on his more than 40 years of business in Ulsan, he expressed hope that this contribution will support the next generation of entrepreneurs and lay a solid foundation for young ventures.
President Park expressing his deep gratitude, while promising the construction of the Challenge Convergence Center and the fostering of young entrepreneurs.
President Park expressed deep gratitude and pledged to build the ‘Challenge Convergence Center (name tentative)‘ to nurture young entrepreneurs. He said, “With this support, we will empower our students to challenge themselves and develop innovative platforms that can transform both regional and national futures. We are committed to supporting Ulsan’s industrial shift and enhancing Korea’s competitiveness.”
The ceremony featured speeches, reflections on the donation, startup ecosystem plans, student projects, and the official fund transfer. Chairman Lee, who pledged KRW 30 billion in 2021—his largest donation to UNIST—completed the contribution this year with an additional KRW 27 billion in stock, following an initial KRW 2.7 billion in 2023.
These funds will be used to establish the ‘Challenge Convergence Center,’ a hub for regional startups and technological talent. The center will serve as a convergence space for education, incubation, and industry-academic collaboration, positioning itself within the ‘Busan-Ulsan-Gyeongnam Startup Belt‘ to lead the industrial transformation in the southeastern region of Korea.
Director Tae-kyu Han of UNIST Holdings Co., Ltd. announced plans to activate Ulsan’s youth ecosystem.
The center will function as a shared startup campus, operated collaboratively by local governments, universities, and companies, with venture capitalists and accelerators supporting research-driven startups and a ‘Startup Fast-Track’ system to accelerate commercialization.
To date, UNIST has supported 194 startups valued at around KRW 1.3 trillion. Recently, UNIST Technology Holdings was designated as manager of a KRW 12 billion public commercialization fund, further accelerating the commercialization of research.
Chairman Lee and President Park took a commemorative photo celebrating the full payment of the KRW 30 billion fund.
President Park emphasized, “Founded on Ulsan’s aspirations, UNIST will continue to support young talents and serve as a catalyst for regional growth,” adding. “Ulsan is transforming from a declining city into a vibrant startup hub.”
Meanwhile, Duksan Group, a leader in semiconductors, OLED, and secondary batteries, is pioneering domestic material and component localization. This donation is expected to catalyze the global expansion of regional ventures and foster a new era of industrial innovation.
