60 undergraduates at National University of Laos selected as first scholarship recipients
Scholars to receive tuition, monthly stipends and career-exploration programs
Support to expand to include study opportunities in South Korea
Foundation says project carries on founder's philosophy of nurturing talent
The Hyundai Motor Chung Mong-koo Foundation launched a new local education support project in Laos and held a scholarship certificate ceremony for its first 60 recipients at the National University of Laos on Friday, the foundation announced Monday. All 60 scholars are undergraduates at the university who demonstrated strong academic performance and financial need.
Each recipient will receive annual tuition support of 2 million Lao kip and a monthly academic stipend of 2 million kip through the end of their regular semesters. Beyond financial support, the foundation plans to run a career-exploration program that includes aptitude assessments and expert mentoring, helping scholars map out concrete career paths based on their strengths and interests after graduation.
Laos has a median age of about 25.3, making it one of the younger nations in the region with strong potential for future growth driven by its youthful population. At the same time, the country's gross tertiary enrollment rate stands at roughly 15 percent — low compared with other ASEAN member states — leaving young people with relatively limited access to higher education.
The foundation selected Laos as the first country for its overseas local education support initiative in line with founder and Hyundai Motor Group Honorary Chairman Chung Mong-koo's philosophy of building a "ladder of hope" for future generations through education, with the aim of broadening opportunities for young people with potential.
The project is significant in that it extends the foundation's talent-development model beyond South Korea's borders, the foundation said. While the existing CMK Global Scholarship has supported outstanding students from ASEAN countries in pursuing their studies in South Korea, the new initiative broadens that scope to help young people in their home countries continue their education, build their capabilities and grow into future leaders for their communities.
"For Laos's younger generation to grow into the human capital that sustains the country's continued development, it is vital to expand access to education and build a foundation for developing their capabilities," said Jeong Mu-seong, chairman of the Hyundai Motor Chung Mong-koo Foundation. "We will continue to support the scholars selected this time so they can pursue their studies with stability and turn their potential into concrete career paths."
Meanwhile, the foundation has operated the CMK Global Scholarship undergraduate program since 2024 to offer talented students from ASEAN countries the opportunity to study in South Korea and to promote the internationalization of Korean universities and people-to-people exchanges between South Korea and ASEAN. Starting with Indonesian undergraduates, the program expanded its selection to include Vietnam in 2025.
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