National Academy of Engineering of Korea Doubles Grand Prize Money from 200 Million to 400 Million Won

The National Academy of Engineering of Korea announced on June 11 that it has doubled the prize money for the 'Grand Prize' from 200 million won to 400 million won. This move is aimed at raising the status of professionals in the field of science and technology in Korea and enhancing their social recognition.

On this day, the Academy stated that it has restructured the 'Grand Prize' and the 'Young Engineer Award', which represent the domestic engineering and technology sector, and newly established the 'New Frontier Award' to discover innovative talent, as well as the 'Dongjin Award' to foster talent in the materials, parts, and equipment sectors.

The Academy adjusted the age eligibility for the 'Young Engineer Award' from under 50 to under 40. In addition, it introduced the 'New Frontier Award' to recognize individuals who have achieved outstanding results in future core technology fields such as AI, biotechnology, and quantum computing.

Lastly, the 'Dongjin Award' was established to honor engineers who have contributed to technological self-reliance and the strengthening of industrial competitiveness in the materials, parts, and equipment sectors. This award, created with support from Dongjin Semichem, will select recipients based on achievements that have generated practical technological innovation and ripple effects in the industry. It is expected to help spread a culture of challenging R&D and contribute to the sustainable development of the field.

The increase in the Grand Prize's prize money was made possible by additional funding from the Kiturami Cultural Foundation. Choi Jinmin, Chairman of the Kiturami Cultural Foundation, explained that this additional contribution is in line with the foundation's philosophy that investing in technological talent is the key to national competitiveness.

Yoon Euijoon, President of the National Academy of Engineering of Korea, stated, "We hope to establish a culture in which engineering professionals receive the respect and recognition they deserve," and added, "The National Academy of Engineering of Korea will continue to identify core technology talent through a fair and authoritative award system, and take the lead in elevating the global status of Korean engineering."

The Academy selects outstanding technology professionals as award recipients through evaluations by a judging panel composed of experts from industry, academia, research institutes, government agencies, and the media. Nominations for each award will begin this month, and after a step-by-step verification process through the end of the year, the recipients will be finalized. The final announcement of winners and the awards ceremony are scheduled for March next year.