Seoul Scholarship Foundation to Provide 'Emergency Scholarships' for Children of Small Business Owners

Emergency Scholarships for 200 Students Through Foundation Review

[Asia Economy Reporter Lim Cheol-young] The Seoul Scholarship Foundation announced on the 2nd that it will provide the 'Seoul Hope Stepping Stone Scholarship' of 1 million KRW per person to 200 university students from small business owner families who are experiencing economic difficulties due to the economic downturn, to alleviate their educational expenses.

Eligibility for the Seoul Hope Stepping Stone Scholarship includes undergraduate students attending universities located in Seoul or Seoul citizens attending universities outside Seoul. Unlike other scholarships from the foundation, students on leave of absence for the second semester of 2022, students exceeding the standard period, and those who have completed coursework but not graduated (those who finished the regular semesters but have not graduated) are also eligible to apply.

Applicants must be recipients of basic livelihood security, legally designated lower-income groups, or fall within the 4th or lower income bracket for student financial aid in 2022. Additionally, applicants must have an overall semester grade percentile of 70 or above, have completed at least 12 credits in the most recent regular semester, and come from small business owner families with an income certificate amount of 35 million KRW or less in 2021.

Eligible small business owners must have opened their business before 2020 and have continuously operated it. Applications are not accepted if the business is in a suspended or closed state after the announcement date. Businesses in entertainment and leisure industries, gambling industries, and those excluded from small business policy fund support such as lawyers and accountants are not eligible to apply.

The Seoul Hope Stepping Stone Scholarship can be received concurrently with the foundation’s tuition and academic encouragement scholarships or external scholarships. However, it cannot be combined with the same type of emergency financial aid scholarships (such as SOS scholarships), and only one person per small business owner family can receive the scholarship.

Lee Seok-jun, Chairman of the Seoul Scholarship Foundation, said, “Due to the impact of high interest rates, high exchange rates, and high prices, the burden on small business owner families is increasing. We will carefully support scholarships for children of small business owners to reduce their economic difficulties and enhance their academic performance.”

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