Pony Jung Foundation Holds 5th Pony Jung Baldoem Scholarship Certificate Award Ceremony

Supporting Young Adults Preparing for Independence
with Two Years of Vocational Training Funding and More

The Pony Jung Foundation has awarded scholarships and scholarship certificates to young people preparing for independence, helping them achieve their goals.

On the 11th, the Pony Jung Foundation announced that it awarded scholarship certificates to 20 newly selected 5th-generation Pony Jung Baldoem Scholars at the Pony Jung Foundation Building in Sinmunno 2-ga, Seoul. Chairman Mongkyu Chung of the Pony Jung Foundation (left) and Shin Boseong, selected as a 5th-generation scholar, are posing for a commemorative photo. Provided by Pony Jung Foundation

On December 11, the Pony Jung Foundation held a scholarship certificate award ceremony for the 20 newly selected 5th-generation Pony Jung Baldoem Scholars at the Pony Jung Foundation Building in Jongno-gu, Seoul. The event was attended by Chairman Mongkyu Chung and other board members of the foundation, Lee Hoonkyu, Chairman of the Children and Future Foundation, which operates the Baldoem Scholarship program, related staff, and the 5th-generation scholars, totaling around 30 participants.

In September, the Pony Jung Foundation and the Children and Future Foundation recruited applicants and ultimately selected 20 recipients for the 5th-generation Pony Jung Baldoem Scholarship. At the award ceremony, Chairman Mongkyu Chung said, "We support all of you who dream of a better future."

Shin Boseong, the representative of the scholarship recipients, shared, "At a time when I was considering giving up on my dreams, I came across the announcement for the Baldoem Scholarship. After applying with a desperate heart, I am now standing here today."

The Pony Jung Baldoem Scholarship program has been supporting young people preparing for independence, who wish to find employment or start a business, since 2021. It selects young adults aged 18 to 29 and provides up to 24.1 million won over two years, including 12 million won for vocational training and 9.6 million won for living expenses.

The Pony Jung Foundation also supports scholars so they can focus on vocational training in a stable environment by providing reimbursement-type insurance, employment celebration grants, certification achievement incentives, and one laptop or tablet PC per recipient. In case of emergencies related to healthcare, housing, or legal issues, additional emergency support is available.

The Pony Jung Foundation was established in 2005 to carry on the spirit of challenge and the philosophy of valuing talent of the late Seyoung Chung, Honorary Chairman of HDC Group (formerly Hyundai Development Company), who was a pioneer in Korea's automobile industry. In accordance with his wishes, the foundation actively carries out scholarship and academic support programs both in Korea and abroad.

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