I am pleased and honored to welcome the Chairman of Yonsei Corporation, Mr. Bang Woo-young; I also welcome Former President Park Dae-Sun and other former presidents of Yonsei University; I welcome our special guests of honor who have dignified our ceremony with their presence; I welcome the professors emeriti, faculty and staff of Yonsei University; I welcome Yonsei alumni who have come from all corners of the world for their 25th and 50th Reunion; and I welcome our current Yonsei students to the 122nd birthday of our University. Since 1885, we have shared every moment of our modern history and contributed to the nation’s independence and modernization. With God’s infinite grace and blessing we have achieved a miraculous growth and this day see the 122nd year of our foundation. We would not be here were it not for the untiring labor and sacrifice of our predecessors, and to them I extend my deepest respect and thanks. The strength of purpose, the pioneering spirit, and the indomitable will that the founders and their successors have shown in shaping Yonsei into Korea’s foremost private institute of higher education inspire us even today to strive for excellence. Dear members of the Yonsei Family Yonsei has never forgotten its purpose in society and has continued to excel in the four basic areas of education, research, medical service, and community service. As a basic component of the Yonsei Vision 2020 project, we have adopted an MBO (management by objectives) policy to ensure that proposed objectives are met. We are also striving to increase the number of international faculty and students, the number of chair professors, endowments and revenue from intellectual property rights, and these numbers are growing at an accelerating pace. In all areas, we can see signs of marked progress. Construction of our state-of-the-art library, "The 120th Anniversary Academic Information Center" has reached its 40% watermark on schedule. And we have this very day begun construction of the new Gymnasium that will house a swimming pool, various arenas, exercise rooms and classrooms, as well as a 500-slot parking area. For this we thank Yonsei Corporation for its generous donation. Thanks to the sacrifice and cooperation of our members, we have seen dramatic improvement in our financial position. We have created a new Office of International Affairs and promoted the Underwood International College to a full college, as a major step in improving our global academic environment. Our nation's resources are primarily human, and it is Yonsei's duty to discover and nurture future global leaders by providing the highest quality in education, so that our students may stand shoulder to shoulder with the best of competition throughout the world. Increasing our research capabilities is paramount in achieving global competitiveness. We have recently completed selection of the "Global 5-5-10" fields (global top 10 ranking in at least five fields within the next five years), the core of Yonsei Vision 2020. The fields selected are: Korean Studies (East-Asian Studies), Chemistry, Astronomy, Biomedical Science, Material Science, Electrical and Electronics Engineering, Mechanical Engineering, Metabolism Disorders, Nanomedical Research, Aging Studies, Medical Engineering. The University will channel vast funds towards research in these fields, which will include heavy investment into their basic infrastructures. The Committee for the Promotion of Korean Studies will work ceaselessly towards making Yonsei the globally acknowledged No. 1 institution in Korean Studies, channeling its efforts into Korean politics, economy, society and culture. We are already well-positioned to achieve greatness in the biomedical sciences, one of the most important fields in the 21st century, and we will improve our position by integrating all fields of life science and technology into a new Bio-Systems College(생명시스템대학). One of the core objectives of Yonsei Vision 2020 is promotion of innovative culture, which is a precondition for survival in a rapidly changing world. To promote more responsible and more efficient administration, all employees are now required to wear identification tags. Furthermore, in order to improve public relations both at home and abroad, we are circulating the English edition of the Yonsei Newsletter to academic and research institutions all around the world. Dear members of the Yonsei Family The Yonsei Medical Center (YMC) is a point of pride for the University. YMC is striving to achieve global research competitiveness and to provide medical service to all corners of the world. To strengthen its global network, YMC concluded an MOU with New York Presbyterian Hospital to open its branch in the Inchon Free Economic Zone. It also concluded a sisterhood agreement with MD Anderson Cancer Center and is currently undergoing evaluation for JCI (Joint Commissions International) accreditation. Expansion is also moving forward as planned: the construction of YMC's Jong-hab Hall is progressing favorably, and we are close to beginning construction of the Cancer Hospital. The Wonju Campus, which is going to celebrate its 30th year in 2008, has seen significant improvements in its educational program and in its facilities. It has begun implementing its own development program called Vision 2012+, as part of its efforts to become one of the best universities in the nation. Furthermore, it has adopted for the first time in Korea a Residential College program, thereby integrating life and education within the campus and suggesting to the nation a new model of education. Construction of the long-awaited University Church, the new Administrative Service building, and the state-of-the-art Laboratory/Lecture Hall are now in progress. The Wonju Medical School and Hospital, located in the downtown Wonju Ilsan Campus, is drawing up the blueprints for its own long-term development plan, which includes moving out of downtown Wonju to a more expansive area that can house all its medical, educational, and research facilities. Plans to make the Yonsei Songdo International Complex a cutting-edge research park and to make it the nexus of education and research in East Asia are progressing smoothly. We will be contributing to the City of Inchon by accelerating the development of the Incheon Free Economic Zone, thereby propelling Inchon to a central position in East Asia, and simultaneously producing new growth power in Korea in the 21st century. Yonsei is more than simply a globally competitive university; it is God’s institution with an exemplary foundational spirit. The spirit of the founders has been passed down to us, and we continue to realize their dream of providing excellent education and service to the community. Let us all join hands in succeeding the mission of our founders to achieve Yonsei pride through global excellence. May 12, 2007 Jung Chang-Young President, Yonsei University