Asan Foundation chairman Chung Mong-joon holds a copy of an autobiography of his late father Chung Ju-yung, who established the foundation, while speaking at a ceremony to deliver scholarships to students at the Asan Institute for Life Sciences in Seoul on Thursday. (Lee Sang-sub/The Korea Herald)

Asan Foundation offered 5 billion won in annual scholarships to 1,724 students Thursday.

The scholarship recipients break down into 835 high school and 659 university students, with 230 of them the children of soldiers, police officers and firefighters.

The foundation offered to pay full tuition fees for the first time for 84 university students, who are at the risk of dropping out for financial reasons. It also gave full tuition scholarships to another 130 college students who voluntarily tutor younger students in need. Last year, 70 university students received full scholarships for tutoring kids in need.

Asan Foundation has given 35 billion won in scholarships to about 22,000 students since it was established in 1977 by the late Hyundai Group founder Chung Ju-yung.

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