The groundbreaking ceremonies for the Asan Institute for Life Science and its residential hall took place on the 23rd, attended by 500 guests including Chairman of the Board Chung Mong Jun, advisory committee members, and President Lee Jung Shin of AMC. President Lee and Chairman Chung gave speeches to celebrate the event for the Institute that will house major life science research facilities such as translational and clinical research centers and industry-academic cooperation companies. The new Asan Institute of Life Science is to be completed by November 2011, with 13 stories above ground and 4 stories below, expected to serve as the cornerstone of Koreas healthcare industry that leads the life science sector. With the expansion, the institute plans to form a global network with many international research institutes through conducting joint research, advancing the development of new medicines and technologies and joining the ranks of world-class hospitals. The groundbreaking ceremony for the new residential hall will be held together. The hall will house 650 rooms and a day-care facility, with 14 stories above ground and 2 stories below.