Lee Jae-yong to Expand Ho-Am Prize, Creating a 'Korean Nobel Prize' (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Changhwan Lee] The Samsung Ho-Am Foundation announced on the 4th that starting next year, the existing Ho-Am Science Award will be expanded and reorganized by separating it into the Science Award for the Physics and Mathematics division and the Science Award for the Chemistry and Life Sciences division. This decision is known to strongly reflect the will of Samsung Electronics Vice Chairman Jaeyong Lee to strengthen Korea's basic science sector.

The foundation explained that in the situation where national capabilities in science and technology are becoming increasingly important due to the global spread of the novel coronavirus disease (COVID-19), it actively gathered opinions from domestic and international experts who emphasized the need to encourage research and expand support in the basic science field.

Accordingly, from 2021, the Ho-Am Awards will be presented in the categories of Science Awards (Physics and Mathematics division, Chemistry and Life Sciences division), Engineering Award, Medical Award, Arts Award, and Social Service Award. Recipients will be awarded a certificate, a medal, and a prize money of 300 million KRW. The total prize money will increase by 300 million KRW from the previous 1.5 billion KRW to 1.8 billion KRW.

The Ho-Am Foundation has been recognized for discovering Korean researchers both domestically and internationally and awarding the Ho-Am Science Award since 1991, thereby supporting the basic science field and contributing to raising the international status of the Korean scientific community.

Previously, a single science award was given across all scientific fields, but this time, the Ho-Am Science Award has been separated and expanded into the Physics and Mathematics division and the Chemistry and Life Sciences division, with expectations that it will further contribute to enhancing the competitiveness of Korea's basic science sector.

Physics and Mathematics are traditionally closely related disciplines, while Chemistry and Life Sciences are fields with deepening convergence. The Ho-Am Foundation explained that it decided on the reorganization plan by broadly collecting opinions from numerous domestic and international academic experts and reflecting trends in the international scientific community.

The Ho-Am Award has provided opportunities to actively introduce achievements in Korea's basic science field and Korean researchers on the global stage through evaluations by a judging committee composed of domestic and international experts including Nobel laureates, and an advisory panel of internationally renowned foreign scholars.

This decision is said to strongly embody Vice Chairman Jaeyong Lee's will. It is interpreted as a determination to elevate the Ho-Am Award to the international stature of the Nobel Prize and to foster Korea's basic science sector. Accordingly, it is also known that there is a possibility of further expansion and reorganization of the Ho-Am Award in the future.

The Ho-Am Award was established in 1990 by Samsung Chairman Geonhee Lee to honor the spirit of talent first and social public interest of Ho-Am Byungchul Lee, the founder of Samsung Group, and to recognize individuals who have achieved outstanding accomplishments in academia, arts, social development, and the promotion of human welfare. Up to the 30th award ceremony this year, a total of 152 recipients have been awarded prize money amounting to 27.1 billion KRW.

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