A $1 million endowment from Dr. Joong Keun Lee, founder and chairman of Booyoung Group, will establish an exchange program with Seoul National University. Chairman Lee, Seoul National University President Yeon-Cheon Oh and GW President Steven Knapp signed the agreement Tuesday.
The gift will fund the Dr. Joong Keun Lee, George Washington University and Seoul National University Endowment. The exchange program will allow graduate students and faculty to explore research in new applications of ondol, or underfloor heating, technology.
“Chairman Lee’s commitment to fostering education between our two universities furthers our commitment to globalization and innovation,” said Dr. Knapp. “His gift simultaneously creates our partnership with Seoul National University while giving us the opportunity to explore this very important technology.”
Through a second agreement with Chairman Lee, the university has committed to exploring the possibility of developing a new residence hall that incorporates ondol technology for students studying at the Virginia Science and Technology Campus.
“Ondol, traditionally utilized by Koreans for thousands of years, promotes a healthy housing culture with an energy-efficient and eco-friendly environment,” said Chairman Lee. “I look forward to more development of ondol in the U.S. market.”