The related statutes and regulations are Article 16 (Grant of Leave of Absence of Public Educational Officials) and Article 16-2 (Special Cases concerning Concurrent Posts or Offices of Public Educational Officials) of the Act On Special Measures For The Promotion Of Venture Businesses, and Regulations on Business Startup and Guidelines on Adjunct Appointment of Faculty among KAIST’s regulations. The regulations can be accessed through the regulation management system of KAIST Portal.
 

According to Regulations on Business Startup, “faculty” refers to tenure-track and non-tenure-track faculty serving full-time pursuant to Article 3 of Rules on Personnel Management, but not part-time faculty and research faculty.
 

The procedures for deliberations and approval have been simplified. Deliberations by the Startup Deliberation Committee and approval by the president are no longer required. This means that faculty members themselves are responsible for determining feasibility and business potential. Faculty members’ applications for leave or adjunct appointments are deliberated by respective departments only, not colleges. Provisions interfering with the promotion of faculty startups, causing conflict of interest, or leading to differences in interpretation have been removed.
 

Yes, the utilization of KAIST’s technology is the premise of faculty startups. The purpose of establishing an institutional basis for startup activities among faculty is to utilize technology owned by the university.
 

Faculty startups can be focused on technology developed by faculty or by others, that is, the university. Here, “technology” includes intellectual property rights (industrial property rights, copyrights, new intellectual property rights) and know-how that can be granted technology licenses.
 

Faculty who have applied for leave or are serving concurrent positions due to startup activities may provide student guidance and conduct research following deliberations by the Department Personnel Deliberation Committee, but in principle, their advisees cannot be involved in activities of faculty startups. This is permitted only if the startup research area is similar to the topic of student dissertations. In this case, such students must be registered as researchers and provided with relevant personnel expenses.
 

Faculty members deemed capable of making significant contributions to university development through startup activities are given permission to launch startups. Please submit the relevant materials to demonstrate your value.
 

Faculty members are given priority in the allocation of incubation space on Munji Campus. However, given the decreasing trend in campus incubation space, your incubation may be postponed or space may be unavailable altogether depending on vacancy and purpose of use. Please consult TBIC in advance.
 

Instructions for the reporting of corporations are provided following deliberations by the department (school). You may express interest in incubation at TBIC during this process to receive information on administrative procedures.
 

Yes. In fact, one faculty member established a U.S. corporation in 2018.
 

Yes. In this case, please refer to Guidelines on Extramural Activities and Outside Lectures of Faculty and report the relevant details to your department.