"ASEAN Talent Development"... Hyundai Motor Chung Mong-Koo Foundation Partners with Domestic Universities

The Hyundai Motor Chung Mong-Koo Foundation is partnering with major domestic universities to nurture talent from ASEAN countries. The plan aims not only to internationalize our universities through global talent development but also to address national demographic issues by attracting outstanding overseas talent.

On the 5th, the Hyundai Motor Chung Mong-Koo Foundation announced that on the 4th, it signed a memorandum of understanding for the 'Hyundai Motor Chung Mong-Koo Scholarship' to foster global future talent with Korea University, Seoul National University, Yonsei University, and Hanyang University (in alphabetical order) at the OnDream Society located in Myeongdong, Seoul. The event was attended by Foundation Chairman Jeong Mu-seong, Korea University President Kim Dong-won, Seoul National University President Yoo Hong-rim, Yonsei University President Yoon Dong-seop, and Hanyang University Vice President Jeong Hyun-cheol.

This agreement was established for the foundation and universities to collaborate in nurturing global talent from ASEAN countries and jointly respond to national demographic challenges such as low birth rates and declining school-age populations. The foundation will select promising ASEAN talents and provide scholarships and networking programs, while the universities will offer regular semester courses to cultivate global talent in future industries, business and economics, Korean language and Korean studies, and policy and public development fields. It is expected to absorb the increasing demand for studying in Korea from ASEAN countries and contribute to the internationalization of universities and the inflow of outstanding overseas talent into the country.

(From left in the photo) Kim Dong-won, President of Korea University; Yoo Hong-rim, President of Seoul National University; Jung Moo-sung, Chairman of Hyundai Motor Chung Mong-koo Foundation; Yoon Dong-seop, President of Yonsei University; and Jung Hyun-chul, Vice President of Hanyang University, are taking a commemorative photo after signing the agreement. Photo by Hyundai Motor Chung Mong-koo Foundation

The foundation began the 'Hyundai Motor Chung Mong-Koo Scholarship' global scholarship program in 2020. To date, it has selected 204 scholarship recipients of ASEAN nationality and supported their graduate studies in Korea. Starting this year, the scope will be expanded to include undergraduate students, beginning with Indonesia. In December, partnerships were established with leading Indonesian universities such as Universitas Indonesia, Bandung Institute of Technology, Gadjah Mada University, and President University, and scholarship recipients will be selected from outstanding undergraduates recommended by the presidents of these local universities.

Selected scholarship recipients will receive approximately 23 million KRW per person, covering full tuition for one year of study in Korea, study support expenses, and settlement allowances. They will attend two regular semesters as visiting students at one of the partner universities: Korea University, Seoul National University, Yonsei University, or Hanyang University. Additionally, they will participate in various networking programs such as summer camps and cultural exploration. Outstanding students can continue to receive support as global talents through linkage with graduate scholarships.

The foundation plans to select 300 ASEAN scholarship recipients over six years from 2020 to 2025. It will provide 16 billion KRW in scholarships and growth programs to nurture outstanding talent. Going forward, the foundation intends to expand partnerships with major ASEAN universities to discover talents who will contribute to Korea-ASEAN co-growth and nurture the next generation of leaders who will lead the future of the global community.

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