The Mukmin Commerce Scholarship Began with Condolence Money from the Late Lee Wongap, Founder of Busan Textile

Honoring the Late Founder’s Will: Mukmin Commerce Scholarship Funded by the Bereaved Family
Scholarship Program for Children of Busan Chamber Employees Continues for 25 Years

The Busan Chamber of Commerce and Industry (Chairman Yang Jaesaeng) held the 2025 Mukmin Commerce Scholarship Award Ceremony on the 28th and presented the scholarship to Shim Jaehun, a sophomore in the Department of Taxation at the University of Seoul, who was selected as the scholarship recipient.

On this day, Yang Jaesaeng, Chairman of the Busan Chamber of Commerce and Industry, Lee Donggeon, Chairman of Bubang Group, and officials from the Mukmin Commerce Scholarship Foundation attended to congratulate Mr. Shim on his award.

The Mukmin Commerce Scholarship was established in honor of the will of the late Lee Wongap, founder of Busan Textile and former Vice Chairman of the Busan Chamber of Commerce and Industry. After his passing in 1989, condolence money was donated by his family to the Busan Chamber of Commerce and Industry as a scholarship fund, marking the beginning of the scholarship.

Later, Bubang Group made additional contributions to the scholarship fund, forming the framework of the Mukmin Commerce Scholarship Foundation. Since 2000, scholarships have been awarded annually.

In accordance with the wishes of the bereaved family, who recalled that the late Mr. Lee was always concerned that employees of the Busan Chamber of Commerce and Industry worked hard in the industrial field for the revitalization of the local economy but were not adequately rewarded, one student each year is selected from among the children of Busan Chamber of Commerce and Industry employees based on outstanding academic performance. The selected student receives a scholarship certificate and a scholarship of 5 million won.

Lee Donggeon, Chairman of Bubang Group, who was the first Korean to serve as president of the world-renowned private volunteer organization Rotary International, said, "I hope that the Mukmin Commerce Scholarship Foundation, which was established in accordance with my father's wishes, will continue to operate well, so that more scholarships will be created and more students will benefit."

Chairman Yang Jaesaeng expressed his deep gratitude to Chairman Lee Donggeon for carrying on the spirit of sharing of the late Chairman Lee Wongap, and offered words of encouragement to Shim Jaehun, who was selected as a scholarship recipient, saying, "I hope you will further excel in your studies and grow into an outstanding talent who contributes to the development of the nation."

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