The Woojung Education and Culture Foundation, founded by construction-based conglomerate Booyoung Group, conferred its biannual scholarship totaling 400 million won ($370,000) to students from Asian and African nations.

In the conferment ceremony on Monday at the Korea Chamber of Commerce and Industry, 100 students each received 4 million won to cover their spring semester tuition fees, according to company officials.

The event was attended by Booyoung chairman Lee Joong-keun, former Prime Minister Han Seung-soo, and ambassadors of the beneficiaries’ countries.

Since starting its scholarship program in 2010, the foundation has so far offered financial support to 179 students from Southeast Asian states.

This year, it increased the number of applicable countries to 12: Vietnam, Cambodia, Laos, Thailand, Sri Lanka, East Timor, Fiji, the Philippines, Bangladesh, Myanmar, Kenya and Ghana.

“We shall expand our reach beyond Asia, to Africa,” said Lee.

“It is our hope that these students will build bridges between Korea and their home countries in the future.”

The group will also offer special recruitment opportunities to students with high academic performance, officials said.

By Bae Hyun-jung (tellme@heraldcorp.com)