"I hope young people can dream big and take on challenges even in local areas," said Kang Byung-jung, chairman of Nexen Group, who donated 10 billion won despite challenging economic conditions, including global recession and protectionist regulations. With this donation, Kang has contributed a total of 600 billion won to society over the past 50 years. His consistent philanthropic efforts have established him as a model of nobless oblige in South Korea.
According to industry sources on July 9, Nexen Tire announced on July 7 that Chairman Kang would donate 1,445,087 shares of Nexen Tire to the Busan National University Development Foundation. The shares are valued at approximately 10 billion won, and the funds will be used for future mobility research and scholarships to nurture local talent.
A representative from Busan National University stated, "This is the second-largest personal donation in the university's history," adding that the funds will be allocated for future mobility research, scholarships, and the long-awaited improvement of the university's main entrance.
Kang, born in 1939 in Jinju, Gyeongnam, graduated from Masan High School and earned a law degree from Dong-A University, later completing an MBA at Busan National University's Graduate School of Business. He donated 500 million won to his alma mater after receiving an honorary doctorate in business administration in 1995. The 'Path of Thought' at Busan National University, funded by his donation, has become a beloved campus landmark. In 2018, he contributed 15 billion won to Dong-A University to help develop infrastructure for local talent.
Kang is known for his genuine commitment to 'hometown love' and building infrastructure for local talent development. Regarding his recent donation, he expressed, "I am pleased to support Busan National University at a time when the university plays a crucial role in the co-prosperity of the local community and businesses, contributing to balanced national development. I hope more opportunities arise for young people to dream and take on challenges in their local areas."
His philanthropic journey spans over half a century. Since the mid-1970s, Kang has served as the chairman of Ibanseong Middle School in his hometown, initiating educational and scholarship programs. He has continued to support talent development, aid for underprivileged youth, and cultural and academic sponsorship for over 50 years.
According to the group, the total amount donated through personal contributions and three cultural scholarship foundations, including KNN Cultural Foundation and Nexen Wolsuk Cultural Foundation, is approximately 500 billion won. Including the donation to Busan National University, the total rises to 600 billion won. It is estimated that over 10,000 local talents have benefited from Kang's scholarships.
Kang's contributions extend beyond monetary donations; he actively addresses practical issues in the community. He served as chairman of the Busan Chamber of Commerce for nine years starting in 1994, promoting local economic development, and from 2013 to 2017, he was the chairman of the Busan National University Hospital Development Committee, dedicating himself to the advancement of local economy and healthcare.
He is particularly recognized for addressing long-standing issues in the Yeongnam region, such as the 'Namak River water supply problem,' embodying the social responsibility of business leaders. He donated 3 billion won of his personal funds to support the bid for the 2030 Busan World Expo. His late wife, Kim Yang-ja, who passed away three years ago, also donated 10 billion won in stocks and bonds to a public foundation.
* This article has been translated by AI.
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