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Hyundai Motor Chung Mong-Koo Global Scholarship to reduce number of application cycles, eligible fields

Published: 17 Dec. 2025, 14:37

LEE TAE-HEE
[email protected]

Winners of the Hyundai Motor Chung Mong-Koo Global Scholarship for graduate students for the fall 2025 semester pose for a photo during the award ceremony on Sept. 27. [HYUNDAI MOTOR CHUNG MONG-KOO FOUNDATION]

The Hyundai Motor Chung Mong-Koo Global Scholarship for first-year graduate students will open applications only once a year and narrow down eligible fields of study starting from the 2026 academic year, the Hyundai Motor Chung Mong-Koo foundation announced on Wednesday.

According to the foundation, these changes were made to better support students on an individual basis.

Students were previously able to apply for the scholarship twice per year: in December for those set to start their first year in the spring semester, and in June for those prepared to do the same in the fall.

But applications will now open once per year in the fall.

The scholarship was also open to students pursuing graduate programs in business, economics, future industries, Korean language and Korean studies at one of five partner universities: Seoul National University, Korea University, Yonsei University, Hanyang University and KAIST.

Overseas public officials pursuing graduate studies in business, economics, policy or public development at KAIST's College of Business or at the KDI School of Public Policy and Management could apply as well.

However, starting next year, applicants will need to be enrolled in Korean language or Korean studies graduate programs at Seoul National University, Korea University, Yonsei University or Hanyang University. KAIST will no longer be included, as it has neither program.

Public officials will still be able to apply for the scholarship if they are set to study policy or public development at the KDI School of Public Policy and Management. Since business is no longer an eligible field of study, those enrolled at KAIST's College of Business will not have access to the scholarship.

The changes were implemented as part of the foundation's new mid- to long-term plans aimed at strengthening support for scholars, including their postgraduate careers.

The Hyundai Motor Chung Mong-Koo Global Scholarship for graduate students offers full tuition, a monthly stipend of 1 million won ($680) and one-time grants of 2.5 million won at the start of their first year and 1 million won at graduation. Students can also receive up to 2.5 million won per year to attend international conferences.

Other eligibility criteria, such as allowing international students from eight Asean countries — Laos, Malaysia, Myanmar, Vietnam, Indonesia, Cambodia, Thailand and the Philippines to apply for the scholarship — will remain the same.

BY LEE TAE-HEE [[email protected]]