The Pony Chung Foundation awarded scholarships to 30 students in a ceremony in Seoul on Friday.

The students will receive a year of tuition fees and benefits including overseas study trips and connections with mentors.

The foundation also awarded research grants to two scholars, each of whom will receive 40 million won in research expenses and 10 million won in publication subsidies for a year. Those who have acquired doctoral degrees within the past five years are eligible for research support from the foundation.

Two Vietnamese nationals won scholarships as well as the 30 Korean students. Since last year, the foundation has provided full tuition and living expenses to Vietnamese students scheduled to attend graduate school for a master’s degree in Korea.

The Pony Chung Foundation was established in 2005 to honor the late Chung Se-yung, the founder of Hyundai Motor Co., which developed Korea’s first car model, the “Pony.”

By Chun Sung-woo (swchun@heraldcorp.com)