SM Group to donate 7 billion won to Yeoju University scholarships

SM Group Chairman Woo Oh-hyun has announced a donation of approximately 7 billion won to cover national scholarships for incoming students at Yeoju University for the 2027 academic year. This move serves as a response to the Ministry of Education's recent decision to restrict national scholarship and student loan support for 20 universities, including Yeoju University.

Woo, who also serves as the chairman of the Dongshin Education Foundation which operates the university, aims to minimize the financial burden on students and parents caused by the government's restrictions. Since acquiring Yeoju University in November 2021, Woo and SM Group have invested heavily in the institution, with cumulative donations exceeding 21 billion won. These investments include facility renovations, talent development scholarships, and university development funds.

Following the acquisition, Yeoju University's freshman enrollment rate increased from the high 60% range to 93% this year. In response to the Ministry of Education's restrictions, the university plans to file an injunction and an administrative lawsuit to contest the decision and seek continued government support.