Foundation & Corporate Scholarships You Might Be Missing | Admissions.kr

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Scholarship programs change their terms, deadlines, and eligibility requirements regularly. Always verify current information directly with the sponsoring foundation. Last updated: 2026-03-23

When international students search for scholarships to study in Korea, almost every result points to GKS — the Korean Government Scholarship (국가장학금). GKS is excellent, and you should apply for it. But it is also highly competitive, and if you rely on it exclusively, you may be leaving significant funding on the table.

Korea has a parallel ecosystem of foundation and corporate scholarships that many international students never find, simply because they are not well publicized in English. Some of these programs are specifically designed for international students. Others include international students as eligible applicants but are rarely searched in non-Korean. This guide introduces the most relevant ones, what they offer, and how to approach applying.

📺 Watch: "Study Abroad in Korea with Foundation & Corporate Scholarship" — Korea Higher Education Times

TL;DR

Several major Korean conglomerates and independent foundations offer scholarships worth ₩3,000,000 to ₩10,000,000 per year.
Most require TOPIK Level 3 or higher — language ability is the most common barrier.
Application cycles vary widely: some open in spring, others in fall. Missing the window means waiting a year.
The best starting points: studyinkorea.go.kr, your university's international student office, and the individual foundation websites.

Why Most Students Miss These Scholarships

There are three main reasons:

1. Language barrier in discovery. Many foundation scholarship announcements are posted in Korean on Korean websites. If you are not reading Korean, or not specifically searching for corporate scholarship programs, you will not find them through a basic English-language search.

2. Narrow search habits. Most students type "scholarship + Korea + international student" and stop at the first few results. Foundation scholarships require a slightly different search strategy — searching by the foundation name, or through university international offices that maintain updated lists.

3. Assumption that only GKS counts. GKS is the most famous because it is fully government-funded and includes a stipend plus tuition. But the total monetary value of several foundation scholarships can be comparable, especially when stacked with a university merit scholarship.

The Scholarship Comparison Table

Foundation	Scholarship Amount	Key Eligibility	Typical Deadline
POSCO Foundation (포스코청암재단)	₩6,000,000 – ₩10,000,000 / year	Graduate students in science/engineering, TOPIK 3+	February–March
Samsung Scholarship Foundation (삼성장학재단)	Full tuition + living costs	Exceptional academic record, varies by program	Invitation-based / limited open calls
Lotte Foundation (롯데장학재단)	₩3,000,000 – ₩5,000,000 / year	Undergraduate & graduate, TOPIK 3+	April–May
Asan Nanum Foundation (아산나눔재단)	₩3,600,000 – ₩5,000,000 / year	Graduate students, social impact focus	March–April
Korea Foundation (한국국제교류재단 / KF)	Varies by program	Korean studies, cultural exchange focus	Varies
NIIED (국립국제교육원)	Tuition + monthly stipend	Enrolled in Korean university, GKS-NUS track	February–March
LG Scholarship Foundation (LG연암문화재단)	Tuition + research support	Graduate research programs	March
Hyundai Motor Foundation (현대차정몽구재단)	₩3,000,000 – ₩6,000,000 / year	STEM & social sciences, enrolled students	April–May

Note: Amounts and eligibility are subject to change. Verify current terms at each foundation's official website.

Foundation Profiles: What You Need to Know

1. POSCO Foundation (포스코청암재단)

POSCO, Korea's largest steel company, runs one of the more structured scholarship programs for international students in Korea. The scholarship is primarily aimed at graduate students studying in STEM fields — engineering, materials science, and environmental science are well-aligned with the foundation's focus areas.

The amount ranges from approximately ₩6,000,000 to ₩10,000,000 per year, and some awards include research support beyond the base amount. TOPIK Level 3 is a stated minimum requirement, and competitive applicants typically hold Level 4 or 5.

Applications generally open in February or March. The foundation — now officially called the POSCO TJ Park Foundation — has an English website at postf.org and the application process is relatively well-documented compared to some other Korean foundations.

2. Samsung Scholarship Foundation (삼성장학재단)

Samsung's scholarship program is among the most prestigious in Korea — and one of the most selective. For most international students, the realistic entry point is through a nomination or recommendation process rather than open application. Samsung has several scholarship tracks, some of which operate through university partnerships.

Note that the former Samsung Scholarship Society (삼성장학회) was dissolved in 2021 and restructured. The current entity is the Samsung Dream Scholarship Foundation (삼성꿈장학재단) at sdream.or.kr, which primarily supports Korean students. For international students, the realistic entry point is through university-level Samsung partnership scholarships — ask your university's international office whether your institution has a Samsung-partnered nomination track.

3. Lotte Foundation (롯데장학재단)

Lotte's scholarship program is open to both undergraduate and graduate students enrolled at Korean universities. The award is typically ₩3,000,000 to ₩5,000,000 per year, and the application is conducted through an open call process in spring (usually April or May).

Eligibility commonly includes: enrolled status at a Korean university, TOPIK Level 3 or above, minimum GPA requirements (typically 3.0/4.5 or equivalent), and demonstrated financial need or academic merit depending on the track.

The Lotte Foundation posts announcements primarily in Korean (search "롯데장학재단" for current information). If you are not comfortable navigating Korean-language sites, ask your university's international student office to help you monitor the deadline.

4. Asan Nanum Foundation (아산나눔재단)

Founded by the Hyundai founder's family, the Asan Nanum Foundation supports students and organizations with a social impact orientation. Graduate students working on projects related to community development, social entrepreneurship, healthcare access, or related fields may find this a strong match.

Awards range from approximately ₩3,600,000 to ₩5,000,000 per year. The application process emphasizes your project or research focus and its potential social contribution, so a strong personal statement is important.

The foundation's website is asan-nanum.org, and a portion of the content is available in English.

5. Korea Foundation (한국국제교류재단 / KF)

KF's programs primarily support Korean studies, cultural exchange, and academic research related to Korea-related topics. If your academic focus is Korean history, literature, politics, international relations, or Korean cultural studies, KF scholarships and fellowships are directly relevant.

KF also supports language training programs and short-term fellowships. The kf.or.kr website has an English section and is relatively easy to navigate.

6. LG Scholarship Foundation (LG연암문화재단)

LG runs scholarship support primarily for graduate-level research, particularly in science, engineering, and business. International students at Korean universities are eligible under certain conditions. Applications typically open in March.

The foundation emphasizes academic performance and research potential. The official website is foundation.lg.or.kr, or search "LG연암문화재단 장학금" to find current announcements.

7. Hyundai Motor Chung Mong-Koo Foundation (현대차정몽구재단)

This foundation supports students across STEM and social science fields. Awards range from ₩3,000,000 to ₩6,000,000 per year. The foundation has scholarship tracks for both domestic and international students enrolled at Korean universities.

Applications typically open in April. The official scholarship site is cmkfoundation-scholarship.org, available in Korean; your international office can assist with translation.

Where To Find These Scholarships

Rather than searching each foundation individually, use these aggregator points first:

studyinkorea.go.kr — The official Korean government study portal includes a scholarship database that lists both government and private scholarships. Filter by "foreigner" or "international student" to narrow results.

Your university's international student office (국제처) — This is often the most reliable source. Korean universities receive announcements directly from foundations and can alert enrolled students. Build a relationship with your international office staff early.

University scholarship boards (장학 게시판) — Most Korean university student portals have a scholarship announcement board. Get in the habit of checking it monthly.

NIIED (niied.go.kr) — The National Institute for International Education manages several scholarship programs beyond GKS and publishes opportunities for enrolled international students.

Application Tips That Actually Make a Difference

TOPIK is the first gate. The majority of foundation scholarships require TOPIK (한국어능력시험) Level 3 at minimum. Some require Level 4 or 5. If your TOPIK score is below Level 3, focus on language study first — this single barrier blocks more international students from these scholarships than any other factor. TOPIK exams are held 6 times per year; plan your test dates strategically.

Apply early, even if the deadline seems far away. Many scholarship applications require recommendation letters from professors. Korean professors receive many requests, and asking with sufficient lead time (at least 3-4 weeks) demonstrates seriousness and gives them time to write something substantive.

Tailor your personal statement to the foundation's values. A generic scholarship essay will not be competitive. POSCO's foundation values STEM contribution and innovation. Asan Nanum emphasizes social impact. LG and Hyundai foundations value research excellence. Read the foundation's mission statement and reflect it genuinely in your application.

Stack scholarships where permitted. Some scholarships can be combined with university-level merit scholarships (교내장학금). Check each scholarship's terms carefully — some explicitly prohibit stacking with other government scholarships (like GKS) but do allow university scholarships. Maximizing legitimate combinations is not cheating; it is good financial planning.

Keep records and track deadlines. Set calendar reminders for 6 weeks before each foundation's expected opening date. Missing a scholarship deadline by a few days is a very preventable loss.

Common Mistakes and Questions

"Can I apply for multiple scholarships at once?" Yes, in most cases. Just check each program's terms to confirm there is no exclusivity clause. Applying to multiple scholarships simultaneously is normal and expected.

"Do I need to be enrolled already to apply?" Most of these scholarships require current enrollment at a Korean university. A few (like certain KF programs) accept applications before enrollment. Read each program's eligibility section carefully.

"My Korean is only TOPIK Level 2. Am I locked out?" For most foundation scholarships, yes — Level 3 is a common minimum. Use this as motivation to prepare for your next TOPIK test. Achieving Level 3 before your second semester is a realistic goal with focused study.

"How do I know if a scholarship is legitimate?" Legitimate Korean foundation scholarships never ask for application fees, never promise guaranteed awards before review, and are announced through official foundation websites or university channels. If something feels unusual, verify through your university's international office.

What To Do Next

Check your TOPIK level — if it is below Level 3, register for the next available exam. This is your highest-impact preparation step.
Visit studyinkorea.go.kr and bookmark the scholarship database. Spend 30 minutes reviewing programs relevant to your field and level.
Introduce yourself to your university's international student office and ask them to notify you when foundation scholarship announcements arrive.
Build your materials now: an updated academic CV, a general personal statement draft, and a list of professors who might write you recommendations. Having these ready means you can respond quickly when an application window opens.
Set calendar reminders for February, March, and April — the peak opening season for most of these programs.

Funding your study in Korea often requires combining multiple smaller sources rather than winning one large scholarship. A strategic, patient approach — combined with solid TOPIK preparation — significantly improves your chances.

If you would like help identifying which scholarships match your specific program, language level, and field of study, explore the resources available through Admissions.kr.