Chung foundation to help underprivileged

By Kim Tae-jong

Chung Mong-koo Hyundai Motor Group Chairman

The Chung Mong-koo Foundation said Wednesday it will step up its support of students from low-income families.

The foundation is funded by and named after the chairman of Hyundai Motor Group, the world's fifth-largest automaker.

It came as part of the foundation’s plan for this year, which also includes medical support for people in underprivileged regions.

The foundation will focus on fostering outstanding figures among students from underprivileged households, a Hyundai Motor official said.

“The foundation will strengthen its support for youth education, believing it is the most crucial investment for the future,” the official said.

The foundation launched a program last year for children in agricultural and fishing villages nationwide to provide them with opportunities to experience various afterschool activities.

Along with that, the foundation will soon set up another educational program for elementary and secondary school students from underprivileged families to help them develop their talent and creativity.

The number of beneficiaries this year will be 17,600.

The foundation will first sponsor student club activities for one year. It will select 180 clubs by evaluating ideas for their operation as proposed by students.

It will also offer more scholarship so that students from low-income households can receive high-quality education.

It has already provided financial support to students without parents and children of policemen who died on duty. This year, it plans to offer help to creative students as well as to the children of firemen who died on duty.

The foundation will continue to issue tuition fee loans with low or zero percent interest rates so that students finish their academic courses without suffering excessive financial burdens.

It will also support students struggling with high interest on loans from the secondary banking sector or private moneylenders so that they will not become credit delinquents.

Along with the support for students, the foundation will also expand other welfare programs aimed at providing medical services to the socially neglected and those suffering from rare diseases, in partnership with medical institutes.