The Pony Chung Foundation accelerates globalization of Korean studies

The Foundation and Korea University has signed an agreement to support young researchers of

Korean Studies at home and abroad. With financial supports from the foundation, the Research

Institute of Korean Studies at the university is expected to boost its research performances.

▲ The Pony Chung Foundation Chairman, Chul-soo Kim (left) and KU President, Jaeho Yeom (right) at the signing ceremony

On May 10, Korea University and the Pony Chung Foundation signed an agreement to support the fellowship and research programs in Korean Studies at KU Main Hall. According to the agreement, both parties are to collaborate to establish a new model of industry-university cooperation.
The contract stipulates that the foundation will donate 750 million won to the university over the next five years. It is the first time that the field of Korean Studies has received any support from the private sector.

* The Pony Chung Foundation was founded in 2005 to promulgate the philosophy and pioneering spirit of Hyundai Development Company Honorary Chairman, Se-yung Chung, who was at the center of developing the nation’s very first automobile, the Hyundai Pony. To nurture future talent, the foundation has not only been working on academic support and scholarship programs in Korea and abroad, but it has also recognized individuals and organizations that lead innovation.

The agreement was as achieved since both parties realized the necessity of exchange between Korean Studies researchers at home and abroad and the importance of recruiting young researchers for the future and providing customized support for them. To facilitate this, the agreement specifies that the foundation and KU will prepare programs for young and future researchers, named the Pony Chung Fellowship and RIKS Academy programs.

Through these programs, young researchers at home and abroad will receive support befitting their research progress and need. By doing so, it is expected that their professional capabilities will strengthen and their research results deepen, which may lead to the development and globalization of Korean Studies. Furthermore, by increasing exchanges among researchers across the world, they can build a close network from the outset. It will be possible for researchers in foreign countries to collaborate with the academy of Korean Studies at home on advanced research subjects. These will all lead to productive relationships between researchers in Korea and abroad.

The agreement is multidimensional. First, unlike existing programs that support only practical research, it values the importance of fundamental programs like Korean Studies. The second point is that it offers customized support to each researcher based on how developed their projects are. They are also given chances for international exchange. Financially supported by the foundation, the Research Institute of Korean Studies at Korea University is expected to pave the way for the globalization of Korean Studies.

KU President Jaeho Yeom said at the ceremony, “I hope that, taking this agreement as a stepping stone, the RIKS will develop as a global research institute of Korean Studies by training many, great scholars.”