Paco Steel Chairman Baek Young-Joong Donates One Million Dollars to Yonsei Chariman Baek Young-Joong of Paco Steel donated one million dollars to his alma mater, Yonsei. Mr. Baek presented the donation personally to the Yonsei International Foundation, where it will be used to further Yonsei’s globalization efforts. Mr. Baek began his studies at Yonsei in 1952 in the Physics Department, but was unable to finish his studies. However, he was recently awarded honorary baccalaureate and doctoral degrees from Yonsei. Chairman Baek explained his motives for the donation, saying, “I recently visited Mongolia and saw that Dr. Lee Tae-Jun, a graduate of the Severance Medical School, was greatly respected and loved by the people of that country for his medical service. Seeing the effect he had on their lives made me think about things and I decided to make this donation. I hope that my donation will be used for globalization efforts. True globalization isn’t about studying English in the classroom; it’s about going out into the world to serve others.” With Chairman Baek’s donation, the Yonsei Southern California Alumni Association now boasts two million-dollar donation, the first being from Mr. Go Seok-Hwa. Mr. Go entered the Yonsei Department of Business in 1964 and donated one million dollars in 2006, establishing a scholarship foundation in his name to award scholarships to students. The Yonsei International Foundation, established three years ago, now has accumulated 1.3 million dollars in funds. The goal is 13 million dollars, and the funds will be used in globalization and education projects for Yonsei students or other qualified recipients.