In order to encourage research and expand support in the basic science field, the Hoam Foundation will expand and reorganize the existing Hoam Science Awards by separating them into the physics and mathematics sector and the chemistry and life science sector starting next year.
The Hoam Foundation, which marks the 30th anniversary of the Hoam Prize this year, announced on Aug. 4 that it will classify the Hoam Prize into the Science Award (Physics, Mathematics, Chemistry and Life Sciences), the Engineering Award, the Medicine Award, the Arts Award, and the Social Service Award from 2021, and the winners will receive a certificate, a medal, and a prize of 300 million won($250,000).
The total prize money will increase by 300 million won ($250,000) from 1.5 billion won to 1.8 billion won.
Since 1991, the Hoam Foundation has contributed to supporting the basic science field and enhancing the international status of the Korean science community by discovering Korean researchers at home and abroad and awarding them the Hoam Science Award.
Previously, a single science award has been awarded to all fields of science, but it is expected that the Hoam Science Award will be further contributed to enhancing the competitiveness of Korea's basic science field by separating and expanding it into the physics and mathematics sectors and the chemistry and life science sector.
The reorganization of the Hoam Prize is said to reflect Samsung Electronics Vice Chairman Lee Jae-yong's determination to "expand support for the basic science sector."
Vice Chairman Lee is known to have first proposed an expanded reorganization with the aim of increasing national competitiveness by expanding support for basic science fields that are relatively weak compared to engineering and medicine.
The Hoam Prize provides an opportunity to actively introduce Korean researchers to the global stage through screening by a screening committee composed of domestic and foreign experts, including Nobel Prize winners, and overseas scholars with international reputation.
The Hoam Prize was established in 1990 by Samsung Chairman Lee Kun-hee to honor the Samsung Group founder Lee Byung-chul’s talent-first philosophy and the spirit of social public interest and human welfare. Up to 30 awards this year, a total of 152 winners were awarded 27.1 billion won.
