Ha Noi (VNA) – A 2.6 million USD fund raised by several Republic of Korean (RoK) financial groups opened with an emphasis to be placed on Viet Nam’s education.
On August 27, a licence to the RoK-Viet Nam Fund’s operation in Viet Nam was handed over by Vu Xuan Hong, President of the Viet Nam Union of Friendship Organisations.
The fund, operating since June 2007, is headquartered in Seoul and founded by Lee Sang Joon, a descendant of Vietnamese Prince Ly Long Tuong who left Viet Nam for the RoK in the 13th century. Lee now is the President of the Golden Bridge Group and along with the Chungsoo Fund, Sochon Fund and a few of RoK universities are the primary backers of the fund.
Addressing the inauguration ceremony, the fund’s President Paik Nak-Whan said the fund will also assist Viet Nam in its socio-economic, cultural and humanitarian work. “We wish to serve a bridge or a door for good-will to the people of Viet Nam and RoK,” he said.
According to the fund trustee, initially 50,000 USD per year for scholarships for Vietnamese students, and another 50,000 USD for humanitarian activities will be set aside for its operations.
Vice Foreign Minister Nguyen Phu Binh, who was the first Vietnamese Ambassador to the RoK, said the event was part of activities to mark the 15th anniversary of the establishment of the diplomatic ties between the two countries.-Enditem
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