Alumnus Mr. Hui Sung Yoo, the “Donation King” Who Made the World Beautiful and Warm, Became the “Hon
Alumnus Mr. Hui Sung Yoo, the “Donation King” Who Made the World Beautiful and Warm, Became the “Honorary Doctor of Business Administration”
The award ceremony for the Honorary Doctor of Business Administration conferred upon alumnus Mr. Hui Sung Yoo was held in an atmosphere of deep gratitude and respect, acknowledging his generous donations.
In 1958, Mr. Hui Sung Yoo entered the Department of Commerce at Korea University, which is currently known as the Department of Business Administration (Dean=Sang Yong Kim). Despite facing numerous challenges in his life, he displayed unwavering commitment to his studies. Upon graduation, he founded Cho Heung Construction, a venture that would eventually flourish over the next 33 years, diversifying into various sectors, including construction, real estate, civil engineering, and material production. Following the closure of his business, Mr. Yoo turned his attention to supporting his alma mater, Korea University. His philanthropic journey commenced with a substantial donation of 1 billion won in 2011 towards the construction of the Hyundai Motor Hall. In 2015, he contributed an additional 1 billion won as a development fund. In 2017, he generously donated his apartment in Seocho-gu, valued at 2.4 billion won at the time. His commitment to giving back continued with donations of 1 billion won in both 2022 and in May of the current year, totaling an impressive 8.4 billion won in contributions thus far.
Mr. Hui Sung Yoo’s cumulative donations to the Department of Business Administration at Korea University have reached an impressive total of 2 billion won. These donations have significantly contributed to the establishment of the In-Sung Fund, named in honor of his mother and grandmother, bearing the initials “In” from their names and “Sung” from his own. Wat sets alumnus Yoo’s contributions apart is not only just their substantial amount but also their diverse impact. His generosity extends to supporting all members of Korea University, encompassing various aspects such as scholarships for students facing financial difficulties, faculty research funds, medical development funds, and employee merit award funds.
In recognition of his unwavering commitment to philanthropy and continuous support, Mr. Yoo is affectionately known as the ‘Donation King.’ His contributions were so remarkable that he was honored with the National Badge in 2021, a testament to his exceptional dedication to the betterment of Korea University and its community. In recognition of his significant contributions to higher education and his commitment to fostering future talents, Korea University conferred an Honorary Doctorate in Business Administration upon Mr. Yoo on Monday, August 21, 2023 The conferral ceremony took place in the International Remote Conference Room of Centennial Memorial Samsung Hal and was attended by Dong-One Kim, the President of Korea University, Sang Yong Kim, Dean of Korea University Business School, and Hyuk Yoo, the Executive Vice President for Graduate School and Research.
President Kim stated, “Since the establishment of Korea University in 1905, we have grown with the dreams and sincerity of our nation’s visionaries.” He expressed gratitude by saying, “Our alumnus Hui Sung Yoo, who received the honorary Ph.D. degree today, has laid another foundation that will be remembered for generations in the history of Korea University.” Furthermore, President Kim added, “Today’s honorary doctorate degree bestowed upon Mr. Yoo symbolizes our deep appreciation and respect for his extraordinary benevolence and continuous generous contributions, which have warmed hearts around the world.”
In response, Mr. Yoo asserted, “I made the decision to donate to my alma mater from the moment my business began to flourish, and I always held a deep desire to give back to Korea University which holds a special place in my heart.” He continued, “For the remainder of my life, I am committed to doing my utmost for the honor and continued development of Korea University, my beloved alma mater.”
Meanwhile, Korea University Business School has designated Room B205 of Hyundai Motor Hall as the “Hui Sung Yoo Lecture Room” in honor of alumnus Yoo. Furthermore, Korea University Business School intends to utilize the In-Sung Fund, generously donated in May, as a cornerstone to pursue the goal of becoming the Global Top 30 and Asia’s No. 1 Business School by the year 2030.