Professor Kim Young-Hwan of Pusan University, chairman of ACEC (APEC Cyber Education Cooperation), founded the "Institute for APEC Cyber Education (IACE)" on Dec 6th, 2002. Professor Kim has been appointed chairman and secretary-general and has received the full support of the Korean Ministry of Education. As the secretariat of the ACEC, the IACE will integrate management of all APEC-related projects including the International Internet Volunteer (IIV) and the ACEN Webzine. The IACE is composed of a chairman, an advisory committee and a directorate, under which are the Planning, R & D, and Foreign Affairs departments. The advisory committee counsels ACEC and ACEN businesses, while the directorate, comprised of Korean professors and officers from the Education Ministry who formerly advised the ACEC, manages IACE-related affairs. The planning department is charged with handling the IIV program and the ACEN Webzine as well as day-to-day administrative affairs. The R & D office is responsible for developing and managing the ACEN Webzine, which is scheduled for publication in 2003. Personnel from the R&D office will also perform research and development projects for APEC. The Foreign Affairs department is in charge of all the cooperative and foreign affairs for the ACEN Webzine and ACEC. Pusan University will be the home of the IACE, which is planning to hire two full time researchers and five contract employees this month. The Ministry of Foreign Affairs and Trade will officially commend Professor Kim Young-Hwan for his ACEC-related activities.