BUSINESSWOMAN DONATES 70 BILLION WON TO KAIST

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A businesswoman in her 80s has donated over 70 billion won to KAIST, South Korea's top science and technology university. She hopes that her donation will help the nation produce its first Nobel Prize winner in science. Here is more.

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[Soundbite] LEE SU-YOUNG(CHAIRPERSON, KAIST DEVELOPMENT FOUNDATION) : "I thought developing science and technology is the only way for South Korea to survive and prosper."

Lee Su-young is the chairperson of the KAIST development foundation. After working as a journalist for more than ten years, the 83-year-old entrepreneur started her own farm with only two pigs. She then expanded her business into the sand mining and real estate sectors and made a fortune. Lee has achieved her wealth by overcoming various hardships and discrimination against unmarried businesswomen. During the turbulent days of the 80s, she even had to confront an organized crime ring in a dispute over business rights.

[Soundbite] "I am resilient. I experienced hardships and failures, of course. Pursued by gangsters, I had to run away only with a suitcase."

Now, she has made huge donations as a meaningful way to spend her money. Having already donated nine billion won, Lee again announced a donation of real estate worth 67.6 billion won to KAIST. Her donations totals 76.6 billion won, the largest-ever amount the university has received. Lee is a graduate of Seoul National University's School of Law, but she decided to donate her wealth to KAIST.

[Soundbite] "I was deeply moved by former KAIST President Seo Nam-pyo's attitude and messages. He said science is the driving force behind South Korea's development."

She plans to make even more donations.

[Soundbite] "I will make more donations. My entire wealth has not yet been fully assessed. I don't know how much it is. But I will donate them, too."

She criticized the wealthy's common practice of leaving inheritances as a shortcut to spoil their children.

[Soundbite] "Children of the wealthy don't know how to earn money. They only spend money. They squander all their wealth in their 50s."

KAIST will establish a foundation named after Lee and assist research projects with a goal to have a Nobel Prize winner in science.

[Soundbite] "I hope my donations will be used to help the nation produce Nobel Prize winners. I ask other people to join and develop this project."