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A KAIST Research Team Develops Diesel Reforming Catalyst Enabling Hydrogen Production for Future Mobile Fuel Cells
This catalyst capability allowing stable hydrogen production from commercial diesel is expected to be applied in mobile fuel cell systems in the future hydrogen economy
On August 16, a joint research team led by Professors Joongmyeon Bae and Kang Taek Lee of KAIST’s Department of Mechanical Engineering and Dr. Chan-Woo Lee of Korea Institute of Energy Research (KIER) announced the successful development of a highly active and durable reforming catalyst allowing hydrogen production from commercial diesel.
Fuel reforming is a hydrogen production technique that extracts hydrogen from hydrocarbons through catalytic reactions. Diesel, being a liquid fuel, has a high storage density for hydrogen and is easy to transport and store. There have therefore been continuous research efforts to apply hydrogel supply systems using diesel reformation in mobile fuel cells, such as for auxiliary power in heavy trucks or air-independent propulsion (AIP) systems in submarines.
However, diesel is a mixture of high hydrocarbons including long-chained paraffin, double-bonded olefin, and aromatic hydrocarbons with benzene groups, and it requires a highly active catalyst to effectively break them down. In addition, the catalyst must be extremely durable against caulking and sintering, as they are often the main causes of catalyst degradation. Such challenges have limited the use of diesel reformation technologies to date.
The joint research team successfully developed a highly active and durable diesel reforming catalyst through elution (a heat treatment method used to uniformly grow active metals retained in an oxide support as ions in the form of metal nanoparticles), forming alloy nanoparticles. The design was based on the fact that eluted nanoparticles strongly interact with the support, allowing a high degree of dispersion at high temperatures, and that producing an alloy from dissimilar metals can increase the performance of catalysts through a synergistic effect.
The research team introduced a solution combustion synthesis method to produce a multi-component catalyst with a trace amount of platinum (Pt) and ruthenium (Ru) penetrated into a ceria (CeO2) lattice, which is a structure commonly used as a support for catalysts in redox reactions. When exposed to a diesel reforming reaction environment, the catalyst induces Pt-Ru alloy nanoparticle formation upon Pt and Ru elution onto the support surface.
In addition to the catalyst analysis, the research team also succeeded in characterizing the behaviour of active metal elution and alloy formation from an energetic perspective using a density functional theory-based calculation. In a performance comparison test between the Pt-Ru alloy catalyst against existing single-metal catalysts, the reforming activity was shown to have improved, as it showed a 100% fuel conversion rate even at a low temperature (600oC, compared to the original 800oC). In a long-term durability test (800oC, 200 hours), the catalyst showed commercial stability by successfully producing hydrogen from commercial diesel without performance degradation.
The study was conducted by Ph.D. candidate Jaemyung Lee of KAIST’s Department of Mechanical Engineering as the first author. Ph.D. candidate Changho Yeon of KIER, Dr. Jiwoo Oh of KAIST’s Department of Mechanical Engineering, Dr. Gwangwoo Han of KIER, Ph.D. candidate Jeong Do Yoo of KAIST’s Department of Mechanical Engineering, and Dr. Hyung Joong Yun of the Korea Basic Science Institute contributed as co-authors. Dr. Chan-Woo Lee of KIER and Professors Kang Taek Lee and Joongmyeon Bae of KAIST’s Department of Mechanical Engineering contributed as corresponding authors. The research was published in the online version of Applied Catalysis B: Environmental (IF 24.319, JCR 0.93%) on June 17, under the title “Highly Active and Stable Catalyst with Exsolved PtRu Alloy Nanoparticles for Hydrogen Production via Commercial Diesel Reforming”.
Professor Joongmyeon Bae said, “The fact that hydrogen can be stably produced from commercial diesel makes this a very meaningful achievement, and we look forward to this technology contributing to the active introduction of mobile fuel cell systems in the early hydrogen economy.” He added, “Our approach to catalyst design may be applied not only to reforming reactions, but also in various other fields.”
This research was supported by the National Research Foundation of Korea through funding from the Ministry of Science, ICT and Future Planning.
Figure. Schematic diagram of high-performance diesel reforming catalyst with eluted platinum-ruthenium alloy nanoparticles and long-term durability verification experiment results for commercial diesel reforming reaction
2022.09.07 View 8827 -
KAIST Entrepreneurial Partnership to Accelerate Startups and Venture Ecosystem
KAIST will launch the KAIST Entrepreneurial Partnership (KEP) program, which connects faculty members who own technology with those who want to launch startup.
The program encourages open innovation startups using strategies tailored to market-client demand requirements. This is also one of efforts to help realize ‘one startup per lab,’ initiated by President Kwang Hyung Lee’s new innovation strategy. KEP also aims to introduce the best technologies developing at KAIST to startups and to raise the success rate of technology commercialization.
The program will match KAIST faculty and student entrepreneur candidates with parties enrolled in the new Entrepreneur in Residence and Entrepreneurial Partner programs. Each team will be given a six-month test period with funding support.
KAIST will invite entrepreneurial experts from both technology and management fields to support the program participants. Around 30 experts with experience in developing new businesses, startups, and investments in large corporations or venture companies will be recruited as entrepreneurial partners. They will offer support for research and business development (R&BD), technology marketing, attracting venture investment from corporations, mergers and acquisitions, and business openings.
A survey showed that KAIST members who are interested in starting a business are experiencing difficulties finding an entrepreneurial expert (72.2%), with the complicated startup approval procedures (33.3%), and their lack of knowledge on entrepreneurship and funding (27.8%). The KEP program hopes to encourage KAIST faculty members and students who have well-developed business ideas and the appropriate technology but lack the capabilities to realize and develop them into a business.
Associate Vice President of Startups Young-Tae Kim said, “We will develop KEP into KAIST’s distinct entrepreneurial support system and produce exemplary outcomes of faculty and student startups. We will spread the startup DNA and lead the building of a virtuous cycle between entrepreneurship and the venture ecosystem.”
2021.10.14 View 4710 -
KAIST Technology Value Tops in Commercialization Market
KAIST became the first Korean university to achieve 10.183 billion KRW in annual technology royalties, and was also selected as an ‘Institution of Outstanding Patent Quality Management’ and an ‘Institution of Outstanding Public Patent Technology Transfer’ for 2020.
KAIST earns its technology royalties through 56 technology transfer contracts. Following KAIST in the rankings were Seoul National University (SNU) in second place with 8.8 billion KRW from 87 contracts and Korea University (KU) in the third with 5.4 billion KRW from 133 contracts. The data shows the high value of KAIST-created technology in the market.
The Korean Intellectual Property Office (KIPO) started to recognize the Institution of Outstanding Patent Quality Management this year to encourage profit-driven patent management at universities and public research institutes, and KAIST was selected as one of the four first recipients of this distinction.
In addition, KAIST was selected as an Institution of Outstanding Public Patent Technology Transfer, a title given by KIPO to three universities and public research institutes this year with outstanding achievements in technology transfers and commercialization to encourage patent utilization.
Director of the KAIST Institute of Technology Value Creation (ITVC) Professor Kyung-cheol Choi said that KAIST’s achievement in annual technology royalties and technology transfers and commercialization were prime examples of accelerating competitiveness in intellectual property through innovative R&D investment.
In April, KAIST expanded and reorganized its Industry-Academia Collaboration Team into the ITVC to support technology transfers and commercialization. Specialized organizations such as the Intellectual Property and Technology Transfer Center and Industrial Liaison Center have been established under the ITVC, and industry experts have been recruited as special professors focusing on industry-academia collaborations to enhance its specialized functions.
KAIST also operates an enterprise membership system and technology consulting system, aimed at sharing its outstanding intellectual property within domestic industries. In 2019, it secured a technology transfer commercialization fund of 1.2 billion KRW available for three years under KIPO’s Intellectual Property Profit Reinvestment Support Program (formerly the Korean Patent Gap Fund Creation Project).
This program was introduced to bridge the gap between the technology developed in universities and the level of technology required by industry. Under the program, bold investments are made in early-stage technologies at the research paper or experiment phase.
The program encourages enterprises to take active steps for the transfer of technologies by demonstrating their commercial potential through prototype production, testing and certification, and standard patent filing. KAIST is currently funding approximately 20 new technologies under this program as of July 2020.
KAIST’s outstanding intellectual property management has also received international recognition, with its selection as Asia’s leading institution in university R&D intellectual property at the Intellectual Property Business Congress (IPBC) Asia 2019 held in Tokyo, Japan last October.
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2020.08.18 View 8199 -
Cyber MOU Signing with Zhejiang University
KAIST signed an MOU with Zhejiang University (ZJU) in China on March 25. This MOU signing ceremony took place via video conference due to the outbreak of COVID-19.
The collaboration with ZJU had already started with the signing of an MOU for cooperation in technology commercialization last December. Possible cooperation initiatives included facilitating joint start-up businesses, patent portfolios, and technology marketing.
With this general agreement signing, it is expected that the two institutes will expand mutual exchanges and collaborations at the institutional level for education and research.
President Sung-Chul Shin said, “We will work together to devise measures for the systematic advancement of cooperation in various directions, including education, research, and the commercialization of technologies.”
ZJU, a member of the C9 League known as China’s Ivy League, was established in 1897 and is located in the city of Hangzhou. Its population across 37 colleges and schools comprises 54,641 students and 3,741 faculty members. The university was ranked 6th in Asia and 54th in the world in the 2020 QS Rankings.
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2020.03.30 View 10896 -
Professor Suh Chosen for IT Young Engineer Award
(The ceremony photo of Professor Changho Suh)
Professor Changho Suh from the School of Electrical Engineering received the IT Young Engineer Award on June 28. This award is hosted by the Institute of Electrical and Electronics Engineers (IEEE) and the Institute of Electrical and Information Engineers (IEIE) and funded by the Haedong Science Foundation.
The IT Young Engineer Award is given to researchers under the age of 40 in Korea. The selection criteria include the researches’ technical practicability, their social and environmental contributions, and their creativity.
Professor Suh has shown outstanding academic performance in the field of telecommunications, distributed storage, and artificial intelligence and he has also contributed to technological commercialization. He published 23 papers in SCI journals and ten papers at top-level international conferences including the Conference on Neural Information Processing Systems and the International Conference on Machine Learning. His papers were cited more than 4,100 times. He has also achieved 30 international patent registrations.
Currently, he is developing an autonomous driving system using an AI-tutor and deep learning technology.
Professor Suh said, “It is my great honor to receive the IT Young Engineer Award. I strive to continue guiding students and carrying out research in order to make a contribution to the fields of IT and AI.”
2018.07.04 View 8005 -
Ultra High Speed Nanomaterial Synthesis Process Developed Using Laser
Dr. Jun-Yeop, Yeo and the research team led by Professor Seung-Hwan, Ko (both of the Department of Mechanical Engineering) successfully developed a process enabling the location-determinable, ultra high speed synthesis of nanomaterials using concentrated laser beams.
The result of the research effort was published as the frontispiece in the July 9th issue of Advanced Functional Materials, a world renowned material science and engineering academic journal.
Application of the technology reduced the time needed to process nanomaterial synthesis from a few hours to a mere five minutes. In addition, unlike conventional nanomaterial synthesis processes, it is simple enough to enable mass production and commercialization.
Conventional processes require the high temperatures of 900~1,000 °C and the use of toxic or explosive vapors. Complex processes such as separation after synthesis and patterning are needed for application in electronic devices. The multi-step, expensive, environmentally unfriendly characteristics of nanomaterial synthesis served as road blocks to its mass production and commercialization.
Exposing the precursor to concentrated continuous laser beam (green wavelength) resulted in the synthesis of nanowires in the desired location; the first instance in the world to accomplish this feat. The technology, according to the research team, makes possible the production, integration and patterning of nanomaterials using a single process. Applicable to various surfaces and substrates, nanowires have been successfully synthesized on flexible plastic substrates and controlled patterning on the surface of 3-dimensional structures.
Dr. Yeo commented that the research effort has “yielded the creation of a nanomaterial synthesis process capable of synthesis, integration, pattern, and material production using light energy” and has “reduced the synthesis process time of nanomaterial to one tenths of the conventional process.” Dr. Yeo continues to devise steps to commercialize the new multifunctional electronic material and methods for mass production.
The research effort, led by Dr. Yeo and Professor Ko, received contribution from Professor Hyung-Jin Sung (KAIST Department of Mechanical Engineering), Seok-Joon Hong, a Ph.D. candidate, Hyun-Wook Kang, also a Ph.D. candidate, Professor Costas Grigoropoulos of UC Berkeley, and Dr. Dae Ho Lee. In addition, the team received support from the National Research Foundation, Ministry of Knowledge Economy, Global Frontier Program, and KAIST EEWS.
Picture I: Synthesized nanomaterials produced at a desirable location by laser beams
Picture 2: Synthesized nanomaterials built on the 3D structure by using the developed technology
Picture 3: Functional electric circuit made with synthesized nanomaterials
Picture 4: Cover page of July 9th issue of Advanced Functional Materials
2013.08.23 View 9383 -
KAIST's wireless Online Electric Vehicle (OLEV) runs inner city roads
For the first time anywhere, electric buses provide public transportation services and are recharged right from the road.
The Online Electric Vehicle (OLEV), developed by the Korea Advanced Institute of Science and Technology (KAIST), is an electric vehicle that can be charged while stationary or driving, thus removing the need to stop at a charging station. Likewise, an OLEV tram does not require pantographs to feed power from electric wires strung above the tram route.
Following the development and operation of commercialized OLEV trams (at an amusement park in Seoul) and shuttle buses (at KAIST campus), respectively, the City of Gumi in South Korea, beginning on August 6th, is providing its citizens with OLEV public transportation services.
Two OLEV buses will run an inner city route between Gumi Train Station and In-dong district, for a total of 24 km roundtrip. The bus will receive 20 kHz and 100 kW (136 horsepower) electricity at an 85% maximum power transmission efficiency rate while maintaining a 17cm air gap between the underbody of the vehicle and the road surface.
OLEV is a groundbreaking technology that accelerates the development of purely electric vehicles as a viable option for future transportation systems, be they personal vehicles or public transit. This is accomplished by solving technological issues that limit the commercialization of electric vehicles such as price, weight, volume, driving distance, and lack of charging infrastructure.
OLEV receives power wirelessly through the application of the “Shaped Magnetic Field in Resonance (SMFIR)” technology. SMFIR is a new technology introduced by KAIST that enables electric vehicles to transfer electricity wirelessly from the road surface while moving. Power comes from the electrical cables buried under the surface of the road, creating magnetic fields. There is a receiving device installed on the underbody of the OLEV that converts these fields into electricity. The length of power strips installed under the road is generally 5%-15% of the entire road, requiring only a few sections of the road to be rebuilt with the embedded cables.
OLEV has a small battery (one-third of the size of the battery equipped with a regular electric car). The vehicle complies with the international electromagnetic fields (EMF) standards of 62.5 mG, within the margin of safety level necessary for human health. The road has a smart function as well, to distinguish OLEV buses from regular cars—the segment technology is employed to control the power supply by switching on the power strip when OLEV buses pass along, but switching it off for other vehicles, thereby preventing EMF exposure and standby power consumption. As of today, the SMFIR technology supplies 60 kHz and 180 kW of power remotely to transport vehicles at a stable, constant rate.
Dong-Ho Cho, a professor of the electrical engineering and the director of the Center for Wireless Power Transfer Technology Business Development at KAIST, said:
“It’s quite remarkable that we succeeded with the OLEV project so that buses are offering public transportation services to passengers. This is certainly a turning point for OLEV to become more commercialized and widely accepted for mass transportation in our daily living.”
After the successful operation of the two OLEV buses by the end of this year, Gumi City plans to provide ten more such buses by 2015.
2013.08.07 View 24398 -
KAIST has developed a powerless and wireless keyboard that can be folded and easily carried around.
The KAIST Institute for Information Technology Convergence (KIITC) has developed the next generation keyboard that does not need power and wires.
The powerless/wireless keyboard developed by KIITC is flexible, foldable, portable, and compact, making the possession of keyboard easier and more convenient.
The idea of this technology was derived from "Idea Contest for Future Device" opened by KIITC in 2007, and Future Device Team (Team Leader: Dr. Sungkwan Jung) of KIITC embodied the idea and developed full-flexible powerless/wireless keyboard by using the passive Radio Frequency Identification (RFID) technology to support the convenient data input for daily mobile life.
Through the technology, KAIST expects to realize ubiquitous computing and communication environment, open a new market for foldable keyboards, and secure the competitiveness of mobile devices industries in the world market.
KIITC has also successfully transferred the technology of powerless/wireless keyboard to Hanyang Demitech for commercialization.
2010.08.12 View 11524 -
KAIST introduced environmentally friendly public transportation to Seoul Grand Park.
KAIST introduced environmentally friendly public transportation to Seoul Grand Park.
First step toward the commercialization of Online Electric Vehicle (OLEV)
An online electric vehicle (OLEV) developed by KAIST replaced a trackless combustion-engine train running inside Seoul Grand Park in Gwacheon City, South Korea. On March 9, 2010, Seoul City and KAIST celebrated the completion of OLEV that picks up electricity from power cables buried underground through a non-contact magnetic charging method, called electromagnetic induction. Electromagnetic induction is the process of inducing electric current in a coil with the help of a magnet.
The pickup unit installed underneath OLEV collects electricity from a roadway and distributes the power either to operate the vehicle or for battery storage. Whether running or stopped, OLEV constantly receives electric power through the underground cables. As a result, OLEV mitigates the burden of equipping electric automobiles with heavy, bulky batteries—OLEV’s battery size is one-fifth that of the batteries installed in electric vehicles currently on the market.
There is no need to establish massive charging stations or to set aside much time for recharging. If the underground power lines installed on road curbs, bus stops, parking lots, and intersections, the power system could support a substantial portion of public transportation: For example, KAIST estimates that by establishing 20% of the road infrastructure for a bus route in Seoul City, the city could offer its citizens the online electric buses.
The non-contact charging of vehicles while running, idling, or parking is an important and practical technology necessary for the development of commercialized electric vehicles. This technology solves many of the issues related to the current batteries of electric vehicles, including size, expense, and repair/maintenance. In addition, non-contact charging is safer because it prevents potential electrical hazards, such as electric shock, that result from direct contact with power sources. Furthermore, it is more convenient to drive vehicles without overhead wires directly connected to power lines, as is necessary for streetcars and trams.
The recharging strips are divided into several meters of segments in length, and vehicles receive the power each time they pass over one. In other words, a sensor is affixed within each segment. When a car with the pickup equipment drives over the segment, the sensor is turned on for the car to receive electricity. This means that when a car without the pickup equipment passes over the segment, it will not collect any electricity.
The power supply via on/off switch (sensors) relieves safety concerns about electromagnetic field (EMF). Pedestrians or cars without the pickup unit will not be exposed to EMF because the sensor embedded in the segments will not work, thus no electricity generated. In addition, even under the circumstance of EMF yield, the test results for OLEV are well below the 1998 the International Commission on Non-Ionizing Radiation Protection (ICNIRP) guideline, 62.5mG at 20khz. OLEV’s EMF test results range from 20mG (inside OLEV while running) to 50mG (around OLEV while parking).
When talking about a wireless energy transfer such as electromagnetic induction, the most critical issue is how to reserve an air gap of 12cm (in accordance with Korean law) between the surface of roads and the bottom of vehicles while having 60% power transmission efficiency or above. There was a similar research done in the US at University of Berkley—their research was considered unsuccessful because they obtained an air gap of 5-7cm with 60% maximum level of efficiency. Besides, their electromagnetic field (EMF) was quite high (2000A), and they were unable to bring down the high cost of installing power supply system. By contrast, for the first time in the world, KAIST has succeeded to obtain 12cm (and up to 17cm) of air gap with more than 70% efficiency level of power transmission. The EMF is also well below the international standard of 62.5mG. In a nutshell, KAIST has achieved a core technology in terms of capacity, efficiency, and EMF to develop electric vehicles for commercial use.
The city government of Seoul and KAIST signed a Memorandum of Understating (MOU) on the development of an online electric vehicle in August 2009. Against the backdrop of the public’s increased awareness of environmental pollution and the depletion of fossil fuels, the two organizations agreed to introduce eco-friendly vehicles to the city’s public transportation, beginning with the introduction of a trial version of OLEV to places like an amusement park, bus terminal, airport, shopping mall, and the like.
KAIST’s OLEV research team is made up of experts from a variety of fields, including electrical and electronics engineering, computer sciences, civil engineering, information technology, and mechanical engineering. OLEV’s success at Seoul Grand Park is a result of KAIST’s innovative initiatives on convergence research, and KAIST has submitted more than 120 applications for patents right in connection with the development of OLEV.
Online Electric Vehicle at Seoul Grand Park
In terms of power transmission efficiency, KAIST’s research team achieved a maximum pick-up capacity of 62kw/h, 74% with an air gap height of 13cm from a road to the bottom of a vehicle. Composed of one engine and three passenger cars, OLEV travels along a total length of 2.2km beltway. There are four sections of power supply infrastructure established on the route (Sections 1, 2, and 3: 122.5 meters long each, and Section 4: 5 meters long). The power supply cables were laid underground for a total of 372.5 meters, 16% of the total distance of the 2,200 meter route.
2010.03.12 View 12492 -
KAIST Signs MOU with Macquarie for Cooperation in Green Growth Projects
KAIST and Shinhan Macquarie Financial Advisory Co. have reached an agreement for cooperation in the development and commercialization of the KAIST-led two national green growth projects, On-line Electric Vehicle (OLEV) and Mobile Harbor (MH) programs, university authorities said.
KAIST President Nam-Pyo Suh signed a memorandum of understanding with John Walker, Chairman of Macquarie Group of Companies in Korea, and Woo-Gon Hwang, Representative Director of Shinhan Macquarie Financial Advisory Co. on Wednesday, Oct. 21.
Under the agreement, KAIST and Macquarie will cooperate in developing an optimal business structure for a rapid commercialization of OLEV and MH. Specifically, Shinhan Macquarie Financial Advisory will provide financial advice, including basis financial analysis, potential investor inducement and feasibility analysis of the projects.
Shinhan Macquarie Financial Advisory Co. is a joint venture between Shinhan Financial Group of Korea and the Australia-based Macquarie Bank Group which provides global investment banking and diversified financial services.
KAIST"s OLEV is a project to develop a new growth engine for Korea and lead the future of global automotive industry. It is an entirely new concept: the electric vehicle picks up power from underground power supplier lines, while either running or standing, through the non-contact magnetic charging method.
The MH program is designed to develop a system that can load/unload containers from a containership in the open sea and deliver them to their destinations at the harbor.
The Korean government has included these KAIST projects, which both are great technical and engineering challenges, in the nation"s sustainable growth programs, providing substantial research grants. KAIST offers its advanced research capabilities for the nation"s efforts to achieve efficient, environment-friendly utilization of resources as new growth engines that spur the development of related industries and explore global markets.
2009.10.22 View 13223 -
KAIST's Mobile Harbor Program Attracts Two Corporate Investments
KAIST-developed Mobile Harbor Program has attracted investments from Korea"s two big-name industrial corporations, university authorities said on Monday (Oct. 19).
KAIST has recently signed an agreement with Hyundai Wia Corp., a machine parts supplier, to collaborate in the researches of the mobile harbor programs and commercialization. Under the agreement, Hyundai WIA will invest a total of 7.5 billion won in the program for two years starting from January 2010.
KAIST has also received a letter of intent from the Daewoo Shipbuilding & Marine Engineering Co. on investing 20 billion won in the commercialization of the project.
The Mobile Harbor Program is designed to create mobile units that can go out to the ship which are anchored off-shore and unload the cargo and take it to where it is needed. It is aimed at overcoming the shortcomings of the current maritime container transportation systems. Container ships are getting larger and larger, requiring deep waters, large and complex loading and unloading systems, and major investments in facilities.
Prof. Byung-Man Kwak, leader of the program"s R&D team, said: "With the investment from two global industrial companies, the program has gained a crucial momentum. The development of the program is expected to help Korea to become a global leader in marine transportation and maintain its supremacy in shipbuilding."
2009.10.20 View 14316 -
Lecture Hall Named After Venture Businessman Min-Hwa Lee
A lecture hall in the Alumni Start-Up Building on the KAIST campus was named Min-Hwa Lee Hall in a ceremony on Tuesday to pay tribute to KAIST alumnus Min-Hwa Lee"s contributions to the development of Korean venture business.
On hand at the ceremony were Sung-Woo Hong, head of the Small and Medium Business Administration, KAIST President Nam-Pyo Suh, dozens of KAIST alumni representatives, and figures from government research institutes.
Lee, who obtained his M.S. (1978) and Ph.D. (1985) in Electrical Engineering from KAIST, established a fund of 10 billion won along with other KAIST alumni in 2001 and donated it for the construction of the Alumni Start-Up Building for aspiring entrepreneurs. To remember his lofty vision, KAIST decided to name a lecture hall after him.
As a venture businessman, Lee founded the Madison, Ltd., one of the earliest venture companies in Korea, in 1985. Lee then played a leading role in the creation of the Korea Venture Industry Association in 1995, and in the establishment of KOSDAQ and the enactment of a special law for venture enterprises.
KAIST will appoint Lee as an adjunct professor in recognition of his expertise in venture business and commercialization of new inventions. Lee will teach entrepreneurship at the Graduate School of Management and the Institute for Gifted Students, a KAIST affiliate.
"Dr. Lee has made a great contribution to the development of Korean venture business. At a time when commercialization of new inventions was at an infant stage, he nurtured technology ventures and built the foundation for the proliferation of technology venture," President Suh said. "We expect that he will strive to open the generation of technologies which will lead the development of Korea in the future and become a mentor of aspiring entrepreneurs," Suh added.
2009.06.30 View 13970