Samyang Group Yangyoung and Sudang Foundation, Scholarship Fund Delivery
Scholarships of 833 Million KRW Awarded to 88 University and Graduate Students
Tuition and Research Funding Provided to Approximately 23,000 Students and 760 Professors
[Asia Economy Reporter Lim Hye-seon] Samyang Group's Yang Young Foundation and Sudang Foundation announced on the 22nd that they awarded scholarships to 88 university and graduate students nationwide.
This year, the Yang Young Foundation provided scholarships to 77 university and graduate students, and the Sudang Foundation to 11 university students, totaling 8.33 billion KRW. Scholarships are supported for up to four semesters, and starting this year, in addition to tuition fees, learning support expenses are also provided to help students focus on their studies.
The scholarship recipients were selected based on recommendations from each school as students who have excellent academic performance and serve as role models despite difficult circumstances. The two foundations usually hold a scholarship award ceremony at Samyang Group headquarters every year to present scholarships and certificates to students, but this year, the event was omitted due to the impact of COVID-19.
Samyang Group, based on its social contribution philosophy of "providing opportunities to achieve dreams," operates scholarship projects and supports basic science and humanities through two scholarship foundations, the Yang Young Foundation and the Sudang Foundation. So far, the two foundations have provided scholarships and research funds to about 23,000 students and over 760 professors and research organizations. Notably, Yang Younghoe, the predecessor of the Yang Young Foundation, is recognized as the first corporate social contribution activity in Korea.
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The Yang Young Foundation was established in 1939 by the late Sudang Kim Yeon-su, the founder of Samyang Group. The Sudang Foundation was established in 1968 by Chairman Kim and his family as part of expanding scholarship projects. Along with scholarships, it operates the Sudang Award, which selects professors and researchers who have achieved outstanding accomplishments in three fields: basic science, applied science, and humanities and social sciences, awarding plaques and prize money.
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