KB News Desk
Jang Seong-hwan, a 94-year-old Korean businessman who was the chairman of Samsung Brush and was known for a large real estate donation to KAIST, passed away on Monday, according to the university, Wednesday.
Born in 1930, Jang was the third child of a North Korean family.
After crossing the border to the South at the age of 18 in 1947, he worked in the trade industry and eventually established his own company, Samsung Brush, which manufactures cosmetics containers and various kinds of cosmetics brushes. He subsequently expanded his business to China, amassing significant wealth.
He managed to complete a postgraduate course despite the poverty he lived through in his earlier years. This prompted his interest in philanthropy as he was well aware of the desire of financially disadvantaged students who desperately want to study.
In 2021, Jang donated a six-story building with two basement floors located in Nonhyeon-dong in Seoul’s affluent Gangnam District to the leading national research university.
The building was worth 20 billion won ($14.4 million), and Jang requested that the educational institute do more to nurture skills in science and technology.
At the time, his wife Ahn Ha-ok said during an interview with local media, “We are glad as our dream came true. If our donation can help develop the country’s science and technology, we couldn’t ask for more.”
With funds generated from the donated asset, KAIST is currently constructing a bio-medicine center named after Jang and his wife. The center is due to be completed in August 2026.
In 2022, the school awarded Jang an honorary doctorate in recognition of his contributions to the development of science and technology.
