KEB expands scholarship program in Southeast Asia

The Korea Exchange Bank Foundation is expanding its social welfare program for students in developing Southeast Asian countries.

The Korea Exchange Bank Foundation held its 2014 Indonesia Korea Exchange Bank Scholarship Award Ceremony on Oct. 20, 2014, at the Indonesian branch of the bank.

The “Korea Exchange Bank Scholarship” is a social welfare program started by KEB in 1989. Originally for low-income students in Korea, the Korea Exchange Bank Foundation took over the program in 2006 and began offering scholarships to students in other countries with KEB branches, such as Indonesia, the Philippines and Vietnam.

A total of $100,000 will be awarded to 295 recipients, university students with outstanding grades from low-income families across Indonesia, the Philippines and Vietnam.

About 100 people including recipients, family members and university staff attended the awards ceremony in Indonesia, and the 70 recipients were awarded $35,000.

Director of Korea Exchange Bank Foundation Jin Seong-oh, who was also present, said, “South Korea and Indonesia have kept close ties as longtime allies, and I hope both countries will continue their cooperation under the new government led by President Joko Widodo.”

By Sang Youn-joo (sangyj@heraldcorp.com)