Hanil Holdings Udeok Foundation Supports Over 4,500 People in 37 Years

Hanil Holdings Woo Deok Foundation took a commemorative photo after awarding scholarship certificates to the first batch of 2020 scholarship students at its headquarters in Seocho-gu, Seoul on the 30th of last month. Photo by Hanil Holdings

[Asia Economy Reporter Moon Hyewon] Hanil Holdings announced on the 3rd that the ‘Udeok Foundation’ awarded scholarship certificates to the first batch of 2020 scholarship students on the 30th of last month.

The Udeok Foundation provides full scholarships to about 200 students annually until their graduation. Up to 2019, the number of scholarship recipients supported by the Udeok Foundation reached 4,547.

The Udeok Foundation was established in 1983 by Udeok Heo Chaekyung, the founder of Hanil Cement. Currently, Heo Jeongseop, the second-generation honorary chairman, serves as the chairman of the board, and the third-generation Heo Giho, chairman of Hanil Holdings, supports the foundation.

The Udeok Foundation operates for public interest purposes such as providing scholarships and academic research funds, with assets totaling 105 billion KRW. Over approximately 37 years since its establishment, it has carried out public interest projects worth about 29.3 billion KRW, including 22.2 billion KRW for scholarship programs, 5.6 billion KRW for public interest projects, and 1.5 billion KRW for academic research funds.

A representative of the Udeok Foundation stated, “We select about 80 new scholarship students annually and provide full scholarships. We will continue to show interest and support for various public interest projects so that our social contribution activities can continue and expand without change.”

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