On May 31, 2016, Konkuk University (KU) announced that Mr. Seokhoon Kwon, a fourth-year business student won an essay contest on entrepreneurship jointly hosted by the Embassy of Israel and Maekyung Media Group. As a result, Mr. Kwon was chosen to participate in a field trip to Israeli firms and major R&D centers with other college students. In his essay, Mr. Kwon argued that through partnerships with Israel in technology and human resources, large corporations in Korea could create a business platform that leads to commercialization of R&D. He emphasized the importance of Korea and Israel building mutually beneficial relationships and business models satisfying both sides for continued collaboration, which would in turn have a positive effect on Korea’s job market by bringing new products and industries. Approximately 100 guests, including Deputy Prime Minister and Minister of Education Joon Sik Lee, Ambassador of Israel to Korea Uri Gutman, Maekyung Media Group’s Chairman Dae-whan Chang, Konkuk University President Heeyoung Song, Nobel Laureate Aaron Ciechanover, attended the award ceremony, which took place at Maekyung’s headquarters the day before.