The Asan Foundation announced on Wednesday that it awarded 3.94 billion won ($2.8 million) in scholarships to 498 students, including 410 undergraduates and 88 graduate students, at a ceremony held at the Asan Institute for Life Sciences in Songpa-gu, Seoul.
The foundation established a new scholarship program for university students in biomedical sciences to support academically outstanding students from economically disadvantaged backgrounds who aspire to become biomedical scientists. Thirty-five students were selected as recipients this year.
Scholarships were also awarded to 230 "MIU (Men In Uniform) Children's Scholarship" recipients, a program created to support children of military personnel, police officers, firefighters, and coast guard members who serve for national safety. An additional 100 students participating in industry-academia cooperation programs and 45 North Korean defector youth also received scholarships.
The foundation provides annual stipends of 6 million won to biomedical science students and North Korean defector youth, and 4 million won to MIU children and industry-academia cooperation students. Forty-seven domestic and 31 overseas graduate students in biomedical sciences receive 20 to 40 million won annually until graduation, while 10 graduate students in health policy receive 10 million won per year.
Since its establishment in 1977, the foundation has provided a total of 94.9 billion won in scholarships to approximately 37,000 students.
"I hope our scholarship recipients will continue to challenge themselves without giving up despite any difficulties, dedicating their full efforts to grow into innovative leaders," Chairman Chung Mong-joon said. "The Asan Foundation will strive to contribute to helping our young people nurture their dreams with hope and determination."