
The opening ceremony of the Sungkyunkwan University PACE Center was held at its Suwon campus on November 9, 2006. PACE is an international industry-academic cooperation support program that is supported by GM and global IT companies EDS, Sun Microsystems and UGS, with the participation of 11 partner companies including Altair Engineering, Hewlett-Packard and Autodesk.
The PACE program was created to train professionals in Product Lifecycle Management for the development of future vehicles. It has been providing hardware, software and education to distinguished universities around the world since 1999. Institutions selected to participate in the program receive support from PACE for three years and from GM operations in each of their respective countries afterwards. In Korea, GM Daewoo is providing support in the form of hardware, software and education. Students at PACE institutions are able to apply what they learn through various contests and collaborative projects between the company and the universities. They also have the chance to attend the PACE Forum once each year, where they can share information on projects that they have carried out and meet with students from other PACE universities worldwide.
Hongik University was chosen to participate in PACE in design and engineering in October 2005. It has received approximately US$210 million in support. Korea University has received about US$180 million in support after being chosen to participate in engineering in May 2006. A cooperative relationship with Sungkyunkwan University in manufacturing was established more recently. The university will receive about US$280 million worth of hardware, software and practical programs from PACE.
The PACE program is becoming very popular among the engineering departments of universities. Eight students from Hongik University who participated in a summer internship program through PACE were recruited as GM Daewoo employees in the second half of the year.
The PACE program officially started in 1999 and was created upon the proposal of the vice president of GM Engineering. He realized that although the automotive industry is moving toward a math-based and computer design-focused environment, few university graduates possess the technical skills that GM requires. In order to provide students practical skills, we decided to offer our support so that students could use the programs actually used within companies at their universities. To realize this idea, we needed the help of other corporations. To begin with, UGS, which provided its software to GM, agreed to provide its NX program, and EDS its hardware systems to universities. Sun agreed to gather and renovate servers and workstations previously used at GM, which the company replaces every three years, and to distribute them to universities. GM would ultimately be responsible for the foundation of the PACE program. Thus, these four companies "GM, EDS, UGS and Sun" came together to cooperate in the PACE program.
The success of the PACE program has been far more than we ever expected. We planned to provide training on only one software program when we first organized the program. However, a few years later, faculties at the universities requested that a number of software and hardware that the students need be added to the program. Related working-level officials at GM also asked for additional programs that are required. As a result, a diverse curriculum is available through the program. PACE has now grown into a global program in which 10 countries around the world take part.
Candidates for the PACE program are limited to countries where strategic GM operations are located. Within these countries, universities that are strategically important to these GM operations are selected for the program. The selection process for becoming a PACE institution is both rigorous and competitive, as a 20-member selection committee reviews applications from universities worldwide. Universities that are unique in their area are ultimately chosen based on numerous and multifaceted criteria.
The PACE program yields many benefits for GM and its operations including GM Daewoo. First, it helps enhance the corporate image of the company as students utilize the most advanced equipment and technology used at GM Daewoo. Second, the program contributes to recruitment. Students who participate in the program are able to fully utilize technology that is actually used at GM Daewoo. Moreover, we are able to pull students who are especially talented in the automotive field from the beginning through the various internships, contests, collaborative projects and other opportunities we provide. By the time they graduate, the students who worked with the program truly understand the technology used on jobs done at GM Daewoo. The company also recognizes the capabilities the students possess. Thus, both sides are able to meet their expectations. With this perfect match, the turnover rate remains low, and we believe that this is one of the main benefits that PACE provides to GM Daewoo.
The biggest difference between PACE and other industry-academic cooperation programs is a "sustained relationship." While many companies only provide products and services through their industry-academic cooperation initiatives, the 15 companies involved in PACE not only offer their products and services but also maintain a relationship with the universities by organizing various competitions, collaborative projects and other events. We also monitor what the students do and what the faculty is teaching through an audit system. PACE is not just a one-time program. All participating companies strive to maintain the relationships established with universities. This is the most unique trait of PACE.
Sungkyunkwan University is especially strong in manufacturing engineering. We believe that it will lead the effort in this area and contribute greatly to other PACE institutions. Hongik University and Korea University, which began participating in PACE prior to Sungkyunkwan University, are showing excellent results. Students are exploring a new automotive development field by bringing design and engineering together at Hongik University. With Korea University excelling in engineering, both institutions are working to keep up with the fast-changing industry environment and are producing pleasing results.
The number of universities chosen by PACE in Korea will depend on the size of GM Daewoo's operations. Although there are three participating universities at the moment, the number will increase in the future as GM Daewoo grows. I firmly believe that GM Daewoo will continue its growth and will provide the opportunity for more Korean students to participate in PACE.
The PACE program offers great opportunities for students to apply what they have learned and to experience the latest equipment and technology. Moreover, students are able to shape the future of Product Lifecycle Management. This is a wonderful opportunity for all students.
I hope the employees of GM Daewoo will understand that this is not a program from the U.S. This program belongs to GM Daewoo. GM Daewoo will be able to recruit more talented employees through the program, which is an extension of GM Daewoo itself.