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Samyang Holdings Exemplifies Industrial-academic Collaboration
Inter-sector Collaboration
Samyang Holdings Exemplifies Industrial-academic Collaboration
  • By matthew
  • May 7, 2014, 07:15
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The Yangyoung and Sudang Foundations host a scholarship awards ceremony on Feb. 19, 2014.
The Yangyoung and Sudang Foundations host a scholarship awards ceremony on Feb. 19, 2014.

 

Samyang Holdings’ Sudang Scholarship Foundation held a Sudang award ceremony at the Lotte Hotel in Seoul on May 7.

At the ceremony, the award winners included Sungkyunkwan University Professor Lee Young-hee for the Basic Science Award, Korea Advanced Institute of Science and Technology Professor Sung Hyung-jin for the Applied Science Award, and Korea University Honorary Professor Yun Sa-sun for the Humanities and Social Science Award. The winners each received a plaque and a cash prize of 100 million won (US$97,300).

Professor Lee was recognized for being a vanguard in carbon nanotubes and graphene research, their industrialization, and elevating the status of local research to a global level.

Professor Sung was recognized for his role in the development of energy and biotechnology that focuses on heat transfer modeling and measurement and flow control, based on his overall research in fluid mechanics.

Professor Yun was highly regarded as having overcome the remnants of the colonial view of history in Korean philosophy, while exploring and transferring the value of Korean Confucianism by pioneering new research topics.

The Sudang award was established by Samyang Group founder Sudang Kim Yeon-su to celebrate the achievements of people who contributed to national and social development in different fields, in a bid to pass on the founder’s spirit to nurture human resources and boost national industry.

Earlier, the Yangyoung and Sudang Foundations hosted a scholarship award ceremony at the Samyang Group’s headquarters on Feb. 19.

The two foundations delivered scholarships totaling 730 million won (US$710,290) to 183 students, including 90 college students out of 23 colleges and 93 high school students. The recipients this time were selected based on the schools’ recommendations among highperforming students with economic difficulties.

The very first local private scholarship foundation, Yangyoung Foundation was started by Samyang Group founder and Chairman Sudang Kim Yeon-su, while the Sudang Foundation was initiated by Chairman Kim Yeon-su and his students in 1968.

The Sudang Foundation has been giving away scholarships to nationwide middle and high schools and colleges including Masters and Ph.D. Programs, while the Yangyoung Foundation has been supporting research expenditures by selecting some 20 college professors annually.

Both organizations, via scholarships, have been helping over 20,000 students and supporting some 600 college professors with their research spending.

Moreover, by initiating the “Sudang Award,” they have been granting a total of some 300 million won (US$291,900) in prize money to people with remarkable accomplishments in basic science, applied science, and humanities and social science in May every year.

The Yangyoung Foundation scholarship and research grant beneficiaries in the past contributed a lot to local academia and industrial growth, as its long list includes leading local physicists Park Chul-jae and Lee Tae-kyu, renowned pharmacology authority Jo Kyu-chan, former Seoul National University President Yun Il-sun, and Korean literature scholar Lee Hee-seung.

As of now, the foundations’ funds stand at 13 billion won (US$13 million), and it is the company’s policy that it will expand the recipient base and business fields gradually to develop them into a cradle of human resources for social, economic, and cultural growth.

Recently, under a management policy pursuing proactive social contributions, the company is aiding in opening up outlets of “BeautifulStores,” while encouraging employees’ volunteer work. BeautifulStore is an organization that sells used donated goods, and with the revenue it runs public service and charity operations. It is establishing itself as the hub of ecological movement as well as regional living and culture.

Likewise, as part of the company’s environmental awareness campaign, it has been hosting a “Nature Love: Art & Writing Festival” since 1996. It has been attracting some 10,000 people annually by featuring colorful events such as writing and art contests under the theme of environmental protection.

Samyang Holdings, after spinning off its food, animal feed, and chemical business arms to Samyang Corp. and its pharmaceutical arm to Samyang Biopharmaceuticals Corp in Nov. 2011, transformed itself to a group share holdings company that mainly runs a trading and lease business.