Hyundai Motor Group (HMG) Honorary Chairman Chung Mong-koo / Courtesy of HMG
Hyundai Motor Group (HMG) Honorary Chairman Chung Mong-koo / Courtesy of HMG


By Park Jae-hyuk

Hyundai Motor Group (HMG) Honorary Chairman Chung Mong-koo will donate 10 billion won ($8.6 million) to the Korea University Foundation to help ongoing efforts by the Korea University Medicine to establish and operate a vaccine innovation center, according to the automotive group, Wednesday.

“In order to contribute to fellow citizens who have supported HMG, I decided to make a donation for the vaccine innovation center that will contribute to the development of domestic vaccines,” Chung said in a statement. “I hope the center can help people recover health and joy by overcoming infectious diseases.”

The Korea University Medicine decided to name its vaccine innovation center after Chung. It plans to use his donation to improve its R&D infrastructure and develop domestic vaccines that can prevent globally infectious diseases in the post-pandemic era.

Hyundai Motor Group (HMG) Honorary Chairman Chung Mong-koo / Courtesy of HMG
Hyundai Motor Group (HMG) Chairman Chung Euisun, right, and Korea University Foundation Chairman Kim Jae-ho pose at Korea University, Tuesday, after signing an agreement on the HMG honorary chairman’s donation to the foundation. Courtesy of HMG


HMG Chairman Chung Euisun, the honorary chairman’s son, who attended a signing ceremony for the donation on behalf of his father, Tuesday, said that the elder Chung has always thought about ways to help the underprivileged people in our society.

“The recent donation is meaningful, because the honorary chairman has been able to make a contribution for the Korea University Medicine, comprised of the nation’s top-level medical researchers, to establish its vaccine innovation center and for Korea to have sovereignty over its vaccines,” he said. “I hope that this donation lays a cornerstone for global vaccine development.”

Korea University Foundation Chairman Kim Jae-ho said: “The donation will be used to establish and operate the Chung Mong-koo Vaccine Innovation Center, making a great contribution to the development of technologies to prevent and cure infectious diseases.”


HMG honorary chairman to donate W10 bil. for vaccine development
Source: Buhay Kapa PH