On June 19, UNIST announced that it has received a generous donation of 1 billion KRW from the Undang Nanum Foundation to revitalize youth entrepreneurship within the Ulsan region and invigorate the startup ecosystem, fostering regional economic growth and innovation.
The donation presentation ceremony was held at the Main Administration Building of UNIST, attended by key representatives from both organizations, including UNIST President Chong Rae Park and Vice President Hyun Sil Ahn of Research Affairs at UNIST, and Chairman Sang Hyun Lee of Undang Nanum Foundation.
The funds will be allocated to the designated university-industry cooperation project focused on revitalizing student startups. This initiative will help create an entrepreneurial-friendly environment and generate high-quality jobs, encouraging young entrepreneurs to establish themselves locally and sustain their growth.
President Park expressed his gratitude, stating, “Undang Nanum Foundation has become a steadfast partner of UNIST.” He further noted, “We will utilize this fund to build the ‘Pioneers Platform,’ where students can dream freely, learn from failures, and rise again as innovators.”
Chairman Lee remarked, “We hope this donation serves as a foundation for developing a vibrant startup ecosystem where the region and the university grow hand-in-hand.” He also emphasized, “The foundation is committed to creating a society where young people can challenge themselves and flourish.”
Founded in 2024 as a non-profit organization, the Undang Nanum Foundation has been actively supporting various initiatives to foster success for future generations. At its inception, Honorary Chairman Ju-Yong Lee of KCC Information & Communication contributed 5.2 billion KRW toward supporting cultural, athletic, and educational programs within the community.
In recent years, the foundation has expanded its regional contributions, including the reconstruction of the ‘Jongha Gymnasium’ into the ‘Jongha Innovation Center’ in 2024, with an investment of 33 billion KRW, along with other donation activities aimed at benefiting the local community.
