Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.
Kumho Petrochemical backs STEM talent with scholarship donation
Kumho Petrochemical Group Chairman Park Chan-koo, left, and KJ Choi Foundation Chief Director Choi Kyung-joo pose after the group donated a scholarship fund to the foundation in Seoul, Wednesday. Courtesy of Kumho Petrochemical Group
By Lee Gyu-lee
Kumho Petrochemical Group donated 30 million won ($20,000) on Wednesday to the nonprofit KJ Choi Foundation to support students pursuing science and engineering degrees, underscoring its commitment to nurturing next-generation technical talent.
The scholarships will be awarded as part of the foundation’s initiative to support the next generation of talent.
A total of five undergraduate and graduate students will be selected among those who are majoring in robotics, computer science, artificial intelligence (AI), information security and cryptography and chemical engineering, which is a core area closely related to the company’s business.
Kumho Petrochemical explained the scholarship initiative reflects its longstanding emphasis on fostering science and engineering talent in Korea, where it has grown from the country’s early days as a marginal player in petrochemicals into a global competitor. The partnership came as the foundation’s response to that commitment.
Founded in 2008 by PGA Tour player Choi Kyung-joo, an eight-time winner on the U.S. men’s golf circuit, the foundation initially focused on developing golf talent but later expanded to support students across broader academic fields after he recognized the lack of tuition assistance systems for university students at the time.
Since 2010, the foundation has been running a scholarship program for 17 straight years to support young students with strong academic potential facing financial hardship.
The program has awarded scholarships to 480 students through 2025, with cumulative funding reaching about 2.45 billion won, supported by participating sponsoring companies.
“As human capital remains central to Korea, we will continue to support the next generation’s push to strengthen the nation through technology,” Kumho Petrochemical Group Chairman Park Chan-koo said.