NATIONAL

Leading biotech academic donates W10b to IVI

By Kim Bo-gyung
  • Published : Jun 20, 2019 - 10:59
  • Updated : Jun 20, 2019 - 11:19

Professor Sung Young-chul of Pohang University of Science and Technology, who is recognized as an expert in the biotech industry, has donated 10 billion won ($8.5 million) to the International Vaccine Institute, the organization said Wednesday.

Sung’s donation is the biggest single donation made to the IVI by an individual donor. It will be delivered via the Korea Support Committee.

The contribution will go toward funding various vaccination projects for children in developing countries across Asia and Africa alongside laboratory research projects that aim to develop vaccines for emerging viral diseases, the IVI said.

Professor Sung Young-chul (first row, second from left) of Pohang University of Science and Technology poses for a photo at a ceremony held to mark his contribution of 10 billion won ($8.5 million) to the International Vaccine Institute. (International Vaccine Institute)

“As someone who has personally witnessed Korea’s transformation from a foreign aid recipient into a donor country, it’s an honor to be able to personally support IVI’s humanitarian mission for people in developing countries, especially children,” Sung said.

“As a biomedical scientist, I understand the value and life-saving potential of vaccines for infectious diseases. I am confident that my donation will enable IVI to accelerate its humanitarian endeavors to discover, develop and deliver safe, effective, and affordable vaccines,” Sung added.

A ceremony took place earlier in the week to mark Sung’s donation, attended by IVI’s leadership, including Director General Jerome Kim, COO and CFO Francois Belin and acting Deputy Director General of Science Song Man-ki, among other officials.

Sung, a member of the Korea Support Committee since February 2016, donated 40 million won to the IVI last year. The donation included 25 million won by Sung won in prize money from last year’s Samil Culture Award. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)