Aekyung Group Chairwoman Chang Young-shin donated 3 billion won ($2.8 million) to the Korea Advanced Institute of Science and Technology, the company said on Monday.

“Based on the belief that natural science and engineering is the way to reviving national competitiveness, we give this donation with hope that KAIST will increase its efforts to help foster intelligent young minds who will guide the path to the future,” Chang said. 

She added that she hopes the money will be used to help create a stable academic environment for the students and improve student welfare.

Chang herself majored in chemistry. In February, she received an honorary doctorate from KAIST.

The school is cited as one of the most prestigious schools in the nation, but recently was mired in a scandal following the suicides of four students and a professor.

KAIST has since relaxed its regulations and is seeking to iron out differences on academic standards based on discussions with the student body, who have showed steady support for the school president despite the suicides.

Aekyung is a leading maker of detergent, shampoo and toothpaste. It also manufactures cosmetics.

By Kim Ji-hyun (jemmie@heraldcorp.com)