Growth
In 1974, the Junior College became a 4-year engineering school and it is renamed as Ajou Institute of Technology. The college quickly became one of the best engineering schools in Korea in the late ‘70s and early ‘80s thanks to the significant endowment from the CEO of Daewoo International (one of the largest conglomerates in Korea at that time) in 1977. It was envisioned as the MIT or Caltech of Asia. Indeed, ‘Ajou’ literally means ‘Asia’ in Korean. A number of newly-minted Ph.D.s joined the faculty during this period and thereafter, notably from renowned research institutions in France and the USA, and top-notch high school students were aggressively recruited with scholarships. The institute established its academic reputation.
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