On August 11, a ceremony was held at UNIST’s main administration building to commemorate the completion of a KRW 30 billion development fund generously donated by Duksan Group Honorary Chairman Junho Lee. The event was attended by Chairman Lee, Duksan Group President Soo-Hoon Lee, UNIST President Chong Rae Park, key university officials, and student startup representatives, all reaffirming the significance of this notable contribution.
Chairman Lee expressed his heartfelt motivation, stating, “Hearing about UNIST’s vision for the future continues to inspire me deeply. Its goals align perfectly with the innovative transformation of traditional manufacturing that I have long envisioned.” He continued, “Starting my business journey in Ulsan over 40 years ago, I faced numerous challenges in a tough environment. I hope this contribution will serve as a stepping stone for the next generation of entrepreneurs, helping them overcome difficulties and compete on the global stage. I wish for this to lay a solid foundation for young ventures in Ulsan.”
President Park responded, “With this contribution, we will empower our students to challenge themselves freely and develop innovative platforms capable of transforming both regional and national futures.” He further added, “We are committed to utilizing these resources to support Ulsan’s industrial paradigm shift and to enhance Korea’s overall competitiveness.”
The ceremony featured speeches, reflections on the donation, plans for revitalizing the startup ecosystem, presentations of student entrepreneurial projects, and the official transfer of funds.
Chairman Lee pledged a total of KRW 30 billion in development funds in 2021, marking the largest donation in UNIST’s history. Following an initial contribution of stocks valued at approximately KRW 2.7 billion in 2023, he completed the donation this year with an additional stock transfer valued at KRW 27 billion.
These funds will be allocated to establish the ‘Challenge Convergence Center (name tentative),’ a hub designed to foster regional startup ecosystems and cultivate technological talent. The facility will serve as a convergence and innovation space, equipped with experimental startup education, incubation services, and infrastructure for global industry-academic collaboration. UNIST aims to position this center as a key node within the “Busan-Ulsan-Gyeongnam Startup Belt,” leading the industrial transformation of Korea’s southeastern region.
The ‘Challenge Convergence Center’ will also function as a shared startup campus, jointly operated by local governments, universities, and companies. Venture capitalists and accelerators will be stationed on-site, supporting research-driven startups led by faculty and students, with a “Startup Fast-Track” system designed to accelerate the commercialization of laboratory ideas.
To date, UNIST has produced 194 startups with a combined valuation of approximately KRW 1.3 trillion. Recently, UNIST Technology Holdings was selected as the manager of a KRW 12 billion public technology commercialization fund, further accelerating the translation of research outcomes into market-ready products.
President Park emphasized, “UNIST was founded on the aspirations of Ulsan’s citizens. We will continue to support young talents to succeed and become a catalyst for regional growth,” adding, “Ulsan is transforming from a city losing its youth into a vibrant startup hub.”
Meanwhile, Duksan Group is a leading mid-sized enterprise at the forefront of key national industries such as semiconductors, OLED, and secondary batteries, pioneering domestic material and component localization with proprietary technologies. This donation is expected to serve as a catalyst for the global expansion of regional ventures and to foster a new era of industrial innovation.
