<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&nbsp;<BR>&nbsp;&nbsp;<BR><SPAN style="FONT-SIZE: 14pt"><STRONG>Revision GIST ACT passed by the National Assembly.</STRONG></SPAN></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><SPAN style="FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><STRONG>Title has changed from the president (원장) to the president (총장),&nbsp;the president granted authority over department establishment. <BR>2010 budget up by 3 billion won <BR>Introducing undergraduate course as a comprehensive university<BR></STRONG></SPAN>&nbsp;<BR></SPAN></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">As National Assembly passed the revision to GIST on Dec.30, GIST will become advanced as a comprehensive university as the status of the existing&nbsp;a president (원장)&nbsp;of GIST gets elevated to a president (총장). <BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">GIST(the Gwangju Institute of Science and Technology) whose&nbsp;president is Jung-Ho Sonu asked the ministry of education, science and technology to revise the title of its president last January as the Assembly passed the revision bill of GIST outlining undergraduate courses in 2008.&nbsp; <BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The ministry of education, science and technology referred the bill to a plenary session and it was passed by the vice-ministerial meeting and the Cabinet meeting last July. So far, under the GIST Act enacted in 1993, the&nbsp;president of GIST represented GIST under the name of a&nbsp;president (원장)&nbsp;of an institute, not the president (총장)<SPAN class=EQUIV><I class="fnt_e08 smd.words"><A href="http://endic.naver.com/popManager.nhn?m=search&amp;query=chancellor"><FONT face=굴림></FONT></A></I></SPAN>. <BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">GIST achieves status as a comprehensive university as the GIST Act is amended and undergraduate course begins in 2010.<BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Under the revised bill, not only is the title of the&nbsp;president changed but also GIST is eligible for profit-making businesses. In addition, as authority over creating majors and study courses is given to the president, GIST gets to have a flexibility to exhibit its ability commensurate to its research capability.&nbsp; <BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Furthermore, GIST budget for 2010 increased by 3billion won and set at 1108.996 billion won compared with the previous government proposal.<BR>The increased budget comprises of 2 billion won for the construction of research center, 1 billion won out of the total 8 billion won for the construction of next-generation energy research institute.<BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">As a result, 2010 government contribution to GIST rises by 39.4% year-on-year and surpasses 100 billion won for the first time since its foundation.<BR>In particular, out of the total 17.6 billion won for 2010 new project, one billion won is earmarked for the building cost of faculty accommodation construction project, which is a great achievement.<BR></SPAN></P>

<P><SPAN style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The head of planning in GIST said that this achievement was made because GIST got the government recognition about the appropriateness of the project based on GIST’s concrete business plan for its development and he added that at a time when GIST needed much bipartisan cooperation, especially lawmakers, Woon-Tae Kang and Young-Jin Kim of Democratic party and Jeong-Hyun Lee of Grand National Party gave a big help in securing GIST budget.&nbsp;&nbsp;</SPAN></P>

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