Without any solution for the financial difficulties, the struggles of the foundation and its affiliated corporations became known to the public. The debt was so great that neither the foundation nor the constituents of the school - its students, faculty, and staff - have the capability to repay the debt. The school tried to find an enterprise which would take itself over, yet not one corporation wanted to take the risk due to concerns over possible opposition from within. Amid this frustration,Dr. Kim Hui-su stood forward to take charge of the university.Dr. Kim, a Korean-Japanese businessman organized a new Board of Directors for the school and became the Chairman. He was born in Kyungnam, Korea, but went to Japan alone at the age of 13. After graduating from Tokyo Denki University, he founded and ran a company named Keumjeong. In Japan, he studied and later ran a company under a hostile racial discrimination. During that time, he realized that a country could only achieve independence by educating its youth. Such thinking led him to found educational institutions in Japan even before the appointment. With his new position as the Chung-Ang’s Chair of the Board, he first became in charge of managing a higher education institution. It was a historic event as he was the first Korean-Japanese to take a significant role in the Korean education.
Dr. Kim could not foresee, however, the confusion and obstacles he would face upon the takeover. For one, he was not aware of exactly how deep the foundation was in debt. Moreover, he wasn’t used to general practices in the Korean society. However, he could carry on his duty helped by his philosophy in life, "Enter the world empty, leave it empty." As he kept in mind all along that his wealth is for his homeland, he continued to do his best to make the nation prosperous.
When he became the Chairman of the school’s Board of Directors, he settled all its debts and recruited Dr. Jae-Chul Rhi as the 7th president of the University. Also, Dr. Kim built a faculty office building and the Law building in the first campus, completed the central library, and planned to construct a dormitory and the student union hall in the second campus. At the same time, he divided the College of Liberal Arts & Science into the College of Liberal Arts and the College of Science, and spun off advertising and public relations from the Department of Mass Media into a separate department in 1989. Furthermore, in the second campus, he added the Department of Russian Language and the Department of Bioengineering, the Graduate School of Industrial Technology Management, and the Graduate School of Public Administration.