SK chief renews will to support young talent

SK Group Chairman Chey Tae-won on Monday renewed his will to support the nation’s young talent, urging them to make Korea a “leading country.”

“You should not remain satisfied with South Korea being among the Organization for Economic Cooperation and Development member countries,” he said during a scholarship awarding event in Seoul on Monday. “The responsibility of making it a country that leads the world rests on your shoulders.”

Chey, who doubles as the board director of the Korea Foundation for Advanced Studies, attended the foundation’s scholarship presentation ceremony to greet and congratulate this year’s 30 recipients. The students will be offered tuition fees and living expenses while studying abroad for five years.

During the ceremony, Chey added this year marks the 70th anniversary since the end of the Korean War, but also the 70th anniversary since SK Group’s founding. “Korea is the only country that has gone from receiving OECD aid to becoming an OECD country. Please take great responsibility in making Korea become a ‘leading country’ of the world,” he said.

In explaining the purpose behind establishing the foundation, Chey added it was to foster great talent who can contribute to developing the nation – as Korea was able to advance itself due to such talent in the past.

In stressing the importance of studying, he also emphasized the importance of exercising to stay healthy.

“I injured my leg recently, and it was uncomfortable and tiresome. Just as you plan out your study schedules, I hope you will also squeeze in time to plan your exercise routines as well,” said Chey.

The Korea Foundation for Advanced Studies was founded in 1974 by Chey’s late father and former Chairman Chey Jong-hyun. Since then, the foundation supported Korean students with outstanding academic records to complete doctoral programs at top-tier institutions abroad.

As of 2021, some 4,000 students, including 860 Ph.D. students, have received scholarships under the program.