Woori Financial Group Woori Multicultural Scholarship Foundation Selects 430 Scholars This Year

Son Tae-seung, Chairman of Woori Financial Group and Chairman of the Woori Multicultural Scholarship Foundation, attending the scholarship award ceremony of the foundation last year and posing for a commemorative photo.

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Group's Woori Multicultural Scholarship Foundation announced on the 6th that it will select 430 scholarship students to support the academic advancement and talent development of multicultural children and children of small business owners. The Woori Multicultural Scholarship Foundation is a public foundation established in 2012 with a 20 billion KRW endowment from Woori Bank and other affiliates of Woori Financial Group, promoting scholarship and educational projects for multicultural families and marginalized groups.

The foundation will select 330 scholarship students among multicultural children and provide academic scholarships and talent scholarships. The academic scholarship is provided to each enrolled student: 600,000 KRW for elementary students, 1,000,000 KRW for middle school students, 2,000,000 KRW for high school students, and 4,000,000 KRW for university students. The talent scholarship is given to multicultural children aged 8 to 25 who possess special skills or certifications in arts, physical education, languages, or technology, awarding 5,000,000 KRW each. Graduates and out-of-school youth can also apply for the talent scholarship.

Additionally, the foundation supports a special scholarship for children of small business owners who are struggling due to the COVID-19 pandemic. One hundred children enrolled in elementary, middle, or high school, whose business owners are designated as "Baeknyeon Gage" (Century-old Store) or "Baeknyeon Sogongin" (Century-old Small Artisan) by the Ministry of SMEs and Startups and whose sales have dropped by more than 10% compared to the previous year, will receive 500,000 KRW each.

Applications for the multicultural children scholarships can be made on the Woori Multicultural Scholarship Foundation website. Applications for the special scholarship for children of small business owners require submitting a designated application form to the Small Enterprise and Market Service. The application deadline for both scholarships is the 22nd of this month, and final selections will be made by the end of next month after screening.

Son Tae-seung, Chairman of Woori Financial Group and Chairman of the Woori Multicultural Scholarship Foundation, said, “Since 2012, we have selected 3,740 multicultural children as scholarship students to support their precious dreams,” and added, “I hope the Woori Multicultural Scholarship Foundation will be a strong pillar for youth.”

This content was produced with the assistance of AI translation services.