Chairman Kwon Jun-ha (left) and UNIST President Park Jong-rae pose for a photo at the 500 million won ($332,000) donation ceremony for the Misan Pioneer Scholarship. [UNIST]
Chairman Kwon Jun-ha (left) and UNIST President Park Jong-rae pose for a photo at the 500 million won ($332,000) donation ceremony for the Misan Pioneer Scholarship. [UNIST]

"Complete the summit, and you get the scholarship — no grades, no awards required."

The Misan Pioneer Scholarship, funded by Chairman Kwon Jun-ha and administered by the Ulsan National Institute of Science and Technology (UNIST), drew a 6.5-to-1 competition ratio in its inaugural recruitment. The sole selection criterion: hiking.

UNIST said 978 students applied for the scholarship, far exceeding the initial target of 150. Despite the application period falling during a school break, the strong response prompted Kwon to expand the number of recipients to 350, in recognition of the program's spirit and the students' enthusiasm.

The Misan Pioneer Scholarship is an unconventional program that uses mountain hikes and summit certifications as its scholarship criteria. It was designed to help science and technology students build physical and mental resilience in nature while fostering a sense of achievement and community.

Selected students will climb major peaks in the Yeongnam Alps and other designated mountains across the country during the activity period, then submit their summit records through a certification app. Students who complete six or more summits within the period receive 700,000 won, while those who complete three to five receive 300,000 won.

The scholarship's slogan is "Challengers for the summit, science and technology pioneers who change the world." Its core values are creative insight through reflection in nature, solidarity and leadership forged alongside peers, and a pioneer spirit that pushes beyond limits.

"Climbing a mountain is a lot like studying," Kwon said. "When you keep going, one step at a time, you eventually find yourself surpassing your own limits. I hope UNIST students will strengthen their bodies and minds through hiking and find the strength to take on a bigger world as science and technology leaders."

Kwon is an investment and management professional who has also developed and promoted a fund-based testamentary trust donation model. A testamentary trust involves entrusting assets to a financial institution during one's lifetime for management and investment, with the assets transferred to designated beneficiaries upon death.

Kwon incorporated more than 30 years of investment experience and fund management expertise into this structure. The principal donation is preserved intact, while returns generated through financial management are channeled into scholarships and welfare projects. The model supports stable, long-term scholarship funding while expanding its social impact. UNIST plans to operate the Misan Pioneer Scholarship under this sustainable framework.

"Chairman Kwon's donation is a valuable act of educational commitment that helps students grow into greater talents through the experience of challenge and achievement," UNIST President Park Jong-rae said. "We will run the Misan Pioneer Scholarship so that it blends with UNIST's pioneering spirit and becomes a formative experience students will carry with them for years to come."


nbgkoo@heraldcorp.com