LG has ended the Yeonam International Joint Research Support Program, which has been ongoing for over 30 years. This support program was initiated by the late Honorary Chairman Koo Ja-kyung to promote the development of pure academic research in Korea and to strengthen university competitiveness. However, due to the prolonged COVID-19 pandemic, the program was unexpectedly concluded.
According to LG on the 2nd, the LG Yeonam Cultural Foundation recently announced the termination of the Yeonam International Joint Research Support Program. This program allowed researchers to stay at overseas research institutions for one year to conduct joint research. Last year, the program was temporarily suspended due to restrictions on visiting overseas research institutions and conducting joint research activities caused by the COVID-19 pandemic.
The LG Yeonam Cultural Foundation explained, "Due to the spread of COVID-19 variants and other practical difficulties in providing support, we have decided to end this program," and added, "We sincerely thank everyone for their interest and support for this program, which has strived to promote academic development and nurture talent."
The Yeonam International Joint Research Support Program, which LG has operated since 1989, was the first private public-interest foundation program to support overseas research for university professors. Under the support of the previous chairman, the program was designed to provide research opportunities for domestic university professors who lacked such chances, enabling them to conduct research at prestigious overseas universities and research institutions, thereby contributing to the advancement of Korean academia and talent development. LG continued the overseas research program even during the difficult conditions of the late 1990s foreign exchange crisis.
LG has invested approximately 40 billion KRW in this program to date, supporting nearly 900 professors across various fields including natural sciences, engineering, humanities, and social sciences.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
