On March 30th, the opening ceremony of the Institute for Future Policy Studies was held at the Sungkyunkwan University (SKKU) Law School. The institute was founded with a \10 billion donation by Lee Kyu-yong, the chairman of Najain, who graduated from SKKU after majoring in Law. Following the will of Chairman Lee, the institute aims to develop a political system with social policies parallel to the innovation of scientific technologies. Regarding the direction of the institute, Sung Jae-ho, the organization’s first president and also a professor of the SKKU Law School, remarked, “Technological advancement without appropriate moral standards or a policy institute would eventually cause harm to society. Therefore, researchers should further study social policies and public reformation to assist the growth of technologies.” There were also congratulatory messages in the ceremony. Professor Alan Auerbach from UC Berkeley and Professor Timothy Smeeding from the University of Wisconsin-Madison sent their congratulations to the event. Moreover, Yoo Ji-beom, the president of SKKU, said, “Just as the Joseon Dynasty could last for 600 years on the groundwork for a talented workforce, I believe that researchers of the Institue of Future Policy Studies will be the force leading the next 600 years of Korea.” He also remarked that for the development of social policies, he hopes Kingos to show interest in the new institute.