HUG Signs Agreement to Support IT Talent Development in Busan... Establishes 9.8 Billion KRW Scholarship Fund

Lee Myung-ho, President of Korea Securities Depository, Park Hyung-joon, Mayor of Busan Metropolitan City, Kwon Hyung-taek, President of HUG, and Choi Jun-woo, President of Korea Housing Finance Corporation, attended the business agreement ceremony held at Busan City Hall on the 17th. (Photo by HUG)

[Asia Economy Reporter Ryu Taemin] Housing and Urban Guarantee Corporation (HUG) announced on the 17th that it has signed a business agreement with Busan City, Korea Securities Depository, and Korea Housing Finance Corporation to support the development of local IT talent.

The signing ceremony took place at Busan City Hall on the same day, attended by about 30 people including Kwon Hyung-taek, President of HUG, Park Hyung-joon, Mayor of Busan, and two representatives from the Ministry of Land, Infrastructure and Transport and former public institutions.

Each organization agreed to cooperate in fostering outstanding talent in the local IT sector by establishing a scholarship fund worth 9.8 billion KRW for Busan regional talents. HUG plans to contribute a total of 6 billion KRW in scholarships over 20 years, providing 300 million KRW annually.

Kwon Hyung-taek, President of HUG, stated, "Through this business agreement, we have established a sustainable win-win relationship for regional development," and added, "We will continue to strive to realize the social value of public institutions."

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