The Hyundai Motor Chung Moong-Koo Foundation renamed its scholarship program as the “Hyundai Motor Chung Moong-Koo Scholarship.

The Hyundai Motor Chung Moong-Koo Foundation announced it will take a more active role to foster the next generation of workers, the charity organization established by the automotive giant said Wednesday.

The foundation added that it decided to reorganize its scholarship program to better reflect the commitment of Chung Mong-koo, the foundation’s founder and the automotive group’s honorary chairman, to finding skilled personnel to increase the nation’s competitiveness.

“The Hyundai Motor Chung Moong-Koo Scholarship program will work as a platform to foster next-generation leaders who will lead social change, innovation and play crucial roles to create a sustainable future, in addition to supporting the underprivileged and nurturing the country’s cultural scenes,” the foundation said.

With the rebranding, the foundation has set a goal to support around 1,100 talented individuals in five fields for the next five years. The five fields include global, future industry, international cooperation, social renovation and culture and arts.

In the global field, the foundation will select graduate and doctoral students in eight ASEAN countries, and provide them with support so they can study at graduate schools in Korea and grow into thought leaders.

For the future industry field, the scholarship program will concentrate on future leaders in science and technology to help them take a lead in the Fourth Industrial Revolution. Scholarships will be provided to Korean university students studying intelligent information technology, bio health and new energy industries.

In the field of international cooperation, the program will provide related educational opportunities and support scholarships to university students who wish to work for international organizations. For the social renovation field, the foundation will cooperate with Hyundai Motor Group affiliates to jointly foster social entrepreneurs and social ventures.

For culture and arts, the foundation will promote the next generation of future cultural leaders who will be active on the global stage. It will select middle and high school students and college students majoring in classical music or gugak (traditional Korean music and dance), and offer systematic education programs along with scholarships.

Also, the foundation will provide additional scholarships to students who achieve outstanding performance on the global stage, helping them to become leaders of future generations.

“The foundation will provide the nation’s best scholarship support for talented people to grow into future generation leaders through the Hyundai Motor Chung Mong-Koo Scholarship,” said Kwon Oh-kyu, chairman of the foundation.

Source The Korea Times