The Nam Center has recently secured major gifts and grants, which altogether are worth about $2.9 million, and that these funds certainly open new chapters for the U-M Korean Studies Program. Here is a brief summary of the recently secured funds:
• Chairman Woon-Hyung Lee, a UM alumnus and the Chairman of SeAH Group, will establish two endowment funds at the Center, each with $500,000: Woon-Hyung Lee Korea Culture Fund and Woon-Hyung Lee International Korean Studies Fund. These funds will strengthen the Center’s programming that promotes cultural, educational, and international experiences. The Woon-Hyung Lee International Korean Studies Fund endowment qualifies for a matching contribution from the University’s President’s Donor Challenge Fund, which will bring additional $250,000. In addition, the SeAH-Haiam Art & Science Scholarship Foundation, for which Chairman Lee serves as the Foundation Chairman, committed to providing $10,000 each of next three years in support of the Center’s activities in cultural and teacher-training programs.
• The Academy of Korean Studies awarded an Overseas Leading University Program for Korean Studies (OLUKS) grant to the Center. This five-year grant that totals KRW 1,000,000,000 (approximately $880,000) will significantly strengthen the Center’s scholarly programs. During the next five years, the Center will offer a number of academic conferences and symposia on modern and contemporary Korea. The grant will also allow the Center to fund state-of-the art research projects, conference travels, and student fellowships.
• The Korea Foundation agreed to provide funds to create the Korea Foundation Korean Language Program Directorship. This $750,000 gift will be utilized to make the directorship a permanent position at the U-M, thereby bolstering the Korean Language Program (KLP) with organizational stability and programmatic leadership. Combined with the Center’s current support for the KLP, the Korea Foundation’s gift will put the KLP on an exciting trajectory for continued growth.