The foundation was established in 2013 to help foster development of basic science, materials engineering and information technologies, with a total of KRW 1.5 trillion (R18.5 billion) in grants to be endowed on research projects for 10 years. It has so far provided about KRW 667 billion (R8.2 billion) in funding for 517 research projects from universities and public research institutes in Korea. The foundation will look to expand its support in the areas of future technologies, such as AI, Internet of Things (IoT) and 5G, as well as projects that aim to improve local communities.

“Our goal is to support building the foundation for future science and technology,” said Seong-Keun Kim, Chairman of Samsung Science & Technology Foundation. “We hope to make a lasting contribution to the society by advancing basic science, bringing innovations and redefining the technology industry.”
Mr. Kim, Professor of Chemistry at Seoul National University and Fellow of the Royal Society of Chemistry, was elected as the new chairman this week by the foundation’s Board of Directors.

*Oanda Conversion rate (R1 = KRW 81.52) as at 11 April 2019