[Asia Economy Reporter Kim Heung-soon] The Samsung Scholarship Foundation, established under the leadership of the late Samsung Group Chairman Lee Kun-hee, is officially ending its scholarship program after 19 years.
According to the business community on the 9th, the Samsung Scholarship Foundation recently notified its members that it will officially conclude its scholarship program. The program is ending as the last group of scholarship recipients selected in 2015 complete their five-year doctoral studies.
The Samsung Scholarship Foundation was established in 2002 to nurture outstanding global talents who will lead Korea's future, reflecting Chairman Lee Kun-hee's philosophy emphasizing talent development. The foundation provided overseas study opportunities to selected scholars. Each year, 100 international students were selected, supporting a total of 1,400 students over 14 years until 2015.
A Samsung official explained, "Since overseas study has become more common than when the scholarship program started, and excellent talents have sufficient opportunities to receive scholarships through other fields, we decided to discontinue the scholarship program to strengthen social contribution projects targeting low-income and marginalized groups instead of selecting international students."
Instead of supporting overseas students, Samsung is conducting corporate social responsibility (CSR) activities focused on youth education, such as Samsung Dream Class and Samsung Youth Software Academy. Since 2013, Samsung has also been running the 'Samsung Future Technology Development Project,' a public interest initiative that allocates 1.5 trillion won over 10 years to support research teams selected for projects in fields like advanced science, materials technology, and information and communication technology (ICT).
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