Samsung Electronics Chairman Lee Jae-yong attended the awards ceremony for the Samsung Ho-Am Prize held in Seoul, Thursday, renewing his commitment to inheriting the group’s founding spirit of “patriotic industrial service,” according to company officials.

It was the first time for Lee to take part in the annual event as chairman of the tech giant.

The Samsung Ho-Am Prize, which uses the pen name of Samsung Group’s late founder Lee Byung-chull, was established in 1990 by his son Lee Kun-hee, the late chairman and father of Lee Jae-yong.

The prize is presented to individuals and groups who have contributed to academics, arts, social development and welfare of humanity. The award is currently managed by the Ho-Am Foundation, established in 1997.

Members of the founding family have attended the ceremony to honor the founder’s legacy.

This year’s prize winners include: Ihm Ji-soon, a physics and mathematics professor at Pohang University of Science and Technology; Choi Kyoung-shin, a chemistry and life science professor at the University of Wisconsin-Madison; Sun Yang-kook, an engineering professor at Hanyang University; Marcia Haigis, a professor at Harvard Medical School; pianist Cho Seong-jin; and Global Care, a nonprofit for medical services.

Under the leadership of Lee, who took office in October 2021, the Ho-Am Prize extended the fields of the recipients to include basic science. According to industry sources, Lee suggested including basic science, citing a lack of support despite its key role in strengthening the nation’s industrial competitiveness.

The awards ceremony took place at the Samsung-owned Shilla Seoul hotel. Each winner received a cash price of 300 million won ($226,000). The foundation has awarded a combined 32.5 billion won to 170 winners since 1990.