[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] The Busan Metropolitan City will accept applications for the 'Busan Local Talent Scholarship' support for three weeks from the 17th to November 4th.
The 'Busan Local Talent Scholarship Project,' introduced for the first time in the second semester of 2022, is a regional win-win development project promoted through collaboration between Busan City and public institutions relocated to Busan Innovation City.
Busan City plans to support living scholarships and employment incentives for outstanding local talents over 20 years by utilizing a total donation of 9.78 billion KRW from the Housing and Urban Guarantee Corporation (President Kwon Hyung-taek, 6 billion KRW), Korea Securities Depository (President Lee Myung-ho, 1.98 billion KRW), and Korea Housing Finance Corporation (President Choi Jun-woo, 1.8 billion KRW).
The support targets currently enrolled students in their third year or above (second year for junior colleges) majoring in IT and business fields at universities located in Busan. The number of selected students this time is 195 in the IT field and 35 in the business field, totaling 230.
The scholarship amount is 1.5 million KRW per person and can be received concurrently with national scholarships, merit scholarships, etc. Selection will be comprehensively based on criteria such as undergraduate grades from the previous semester, English proficiency, certifications, income, and community contribution plans, with payments expected around December.
Detailed application qualifications and submission methods, including eligible universities and departments, minimum credit requirements (3.8 or higher in the previous semester), and income eligibility (income below the 9th decile of the Korea Student Aid Foundation's financial support brackets), can be found on the Busan Youth Platform on the Busan City website.
Park Hyung-jun, Mayor of Busan, said, "Through the scholarship donations from the representative public institutions relocated to Busan?the Housing and Urban Guarantee Corporation, Korea Securities Depository, and Korea Housing Finance Corporation?students in the Busan area will be greatly helped to focus steadily on their studies and job-seeking activities," adding, "We will do our best to create a virtuous cycle structure where outstanding students settle in the region and become the driving force for regional development."
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