Speaking on the occasion, Kumho Asiana Group Chairman Park Chan Bup praised the great academic achievements the students have made and said he hoped that they would contribute to the development of the mankind.

Of the total, 158 scholarships were granted to students from 35 universities and the remainder to the winners of the Korean speaking contest that took place early this year. 

The talented-but-poor students will receive the scholarships worth roughly US$18,000, with US$100 per scholarship for each school term.