30 years backing 'Korea's Nobel Prize' for engineering

Group launches Gwiturami Academic Award with four mechanical engineering societies

Gwiturami Group Chairman Choi Jin-min (second from right) congratulates award recipients at the 2026 National Academy of Engineering of Korea ceremony held in March. From left: Shin Hak-cheol, NAEK board chairman; Yoon Eui-joon, NAEK president; Kim Jang-woo, CEO of MangoBoost and Seoul National University professor (New Frontier Award); Kwon Oh-kyung, distinguished professor at Hanyang University (NAEK Grand Prize); Jang Jin-ah, Mueunjae Chair Professor at Postech (Young Engineer Award); Chairman Choi; and Choi Ki-joo, president of Ajou University. [Gwiturami Group]
Gwiturami Group Chairman Choi Jin-min (second from right) congratulates award recipients at the 2026 National Academy of Engineering of Korea ceremony held in March. From left: Shin Hak-cheol, NAEK board chairman; Yoon Eui-joon, NAEK president; Kim Jang-woo, CEO of MangoBoost and Seoul National University professor (New Frontier Award); Kwon Oh-kyung, distinguished professor at Hanyang University (NAEK Grand Prize); Jang Jin-ah, Mueunjae Chair Professor at Postech (Young Engineer Award); Chairman Choi; and Choi Ki-joo, president of Ajou University. [Gwiturami Group]

Gwiturami Group, chaired by Choi Jin-min, is drawing attention for its longstanding support of engineering and technology development.

The group operates heating, refrigeration, air conditioning and energy businesses through affiliates including Gwiturami, Beomyang Cooling, Sinseong Engineering, Century and Gwiturami Energy. As of 2023, the group's total sales stood at 1.25 trillion won ($814 million).

Since its establishment in 1996, the group has fully funded the prize money for the National Academy of Engineering of Korea Grand Prize — often called "Korea's Nobel Prize" for engineering. In 2022, it raised the prize from 100 million won to 200 million won. This year, marking 30 years of sponsorship, the group expanded the total prize pool to 600 million won, with the Grand Prize itself doubling again to 400 million won.

The group also added 100 million won each for the Young Engineer Award and the New Frontier Award, reaffirming its commitment to advancing engineering and technology. Total support for the NAEK has now reached 8.75 billion won.

The NAEK credited the sponsorship with helping to identify and honor engineers who have contributed to the nation's industrial development, thereby spreading a culture of technology and laying the groundwork for economic growth.

The group established the Gwiturami Academic Award in the field of mechanical engineering last year. The award is run jointly with four major mechanical engineering societies — the Korean Society of Mechanical Engineers, the Society of Air-Conditioning and Refrigerating Engineers of Korea, the Korean Society of Combustion and the Korean Society for Fluid Machinery — and provides a total of 150 million won in prize money to outstanding researchers and full-time faculty. The group said it plans to broaden the scope of support so that researchers can focus entirely on their work.

Through the Gwiturami Cultural Foundation and the Gwiturami Welfare Foundation, the group has returned a cumulative 61 billion won to society over the past 41 years through academic support, scholarships and welfare programs, benefiting students, researchers, engineers and vulnerable groups. Chairman Choi established the cultural foundation in 1985, contributing personal funds after the boiler business reached stable footing and laying the groundwork for the group's social contribution activities.

"Chairman Choi holds a firm belief that contributing to national competitiveness through engineering development and education support is essential, and he has put that belief into practice," a Gwiturami Group official said. "His sustained commitment to academic research and scholarship programs over many years has earned genuine recognition."


freiheit@heraldcorp.com