Pohang University of Science and Technology or POSTECH is a private university, based in Pohang, South Korea, which is dedicated to research and education in science and technology. In 1998, it was ranked by Asiaweek as the best science and technology university in Asia. Furthermore, from 2002–2006, one of Korea's most circulated daily newspapers, JoongAng Ilbo ranked POSTECH as the leading university in Korea. In 2010, Times Higher Education ranked the university as the 28th best university in the world, the third best in Asia, and the best in South Korea. The same year, QS World University Rankings ranked the university 112th overall in the world. for that year, its JoongAng Ilbo ranking was number two in Korea, after KAIST . The official history of POSTECH begins on November 9, 1986. However, the school's opening is actually celebrated on December 3 (concatenating 12 from the month and 3 from the day gives 123). The full name of POSTECH at the beginning was Pohang Institute of Science and Technology. The first students matriculated on March 2, 1987, all of whom lived in 4 dormitories in their first year.