Jeonbuk-do Specially Designated Scholarship System Shows 'Visible Results'

Jeonbuk Province and Provincial Talent Lifelong Education Promotion Institute Introduce Special Designated Scholarship System in October... Donation Intentions and Donation Letters Continue

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Jeonbuk Province announced on the 9th that it is showing visible results as a result of groundbreaking efforts to expand and improve the scholarship program for nurturing talent in Jeonbuk, in collaboration with the Jeollabuk-do Talent Lifelong Education Promotion Institute (hereinafter referred to as the Promotion Institute).

Jeonbuk Province and the Promotion Institute improved the scholarship system last October to diversify the funding sources for the scholarship program and create an environment where individuals and companies can donate and support scholarships more efficiently and actively.

Previously, when individuals and companies donated scholarships, the funds were capitalized and scholarships were paid from the interest income. However, due to the reduction in fund interest caused by low interest rates, the amount of scholarship payments and the number of beneficiaries have been decreasing every year, causing a continuous crisis.

In response, Jeonbuk Province established the ‘Promotion Institute Scholarship Program Operation Regulations’ and the ‘Promotion Institute Sponsorship Association Operation Regulations’ in October this year and introduced a special designated scholarship system to solve practical difficulties and provide various scholarships to more students.

The special designated scholarship refers to a scholarship system that determines the recipients and amounts of scholarships by reflecting the donor's opinions.

Since then, pledges and designated donation letters have been submitted from companies such as LS Co., Ltd. (48 million KRW), Korea International Trade Association (Chairman Gu Ja-yeol, 12 million KRW), Jungseok Chemical Co., Ltd. (CEO Kim Yong-hyun, 50 million KRW), and Nonghyup Provincial Office Branch (10 million KRW).

Among them, LS Co., Ltd. and the Korea International Trade Association designated the purpose of using the scholarships for nurturing international financial talent for the establishment of a financial hub promoted by Jeonbuk Province, while Jungseok Chemical Co., Ltd. promised to donate scholarships aimed at nurturing talent to challenge the region's future industries.

Kim Hak-kwon, director of the Promotion Institute, said, “We will further activate and systematically operate the Promotion Institute's scholarship program, including the operation of the special designated scholarship system, so that future local talents can pursue their dreams and hopes without worrying about tuition fees.”

Meanwhile, the Promotion Institute operates the special designated scholarship as well as the Hometown Talent Scholarship, Jeonbuk Love Scholarship, Hope Scholarship, and Future Talent Special Scholarship annually.

Detailed information on scholarship eligibility, application methods, and scholarship donations and sponsorship association guidance can be found through the Promotion Institute or its website.

Jeonju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr

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