Samsung SDI (006400.KS) said on the 22nd that it has signed an agreement with the Korea Foundation for the Advancement of Science and Creativity and the Korean Chemical Society to sponsor South Korea's team for the International Chemistry Olympiad.
Under the agreement, Samsung SDI will formally support the training, selection and competition participation of the national team operated by the Korean Chemical Society starting in January next year. Winners at the competition will also receive separate scholarships.
The company said it decided to provide the sponsorship to help students in basic sciences compete on the world stage while contributing to the country's scientific and technological competitiveness and to the development of the next generation of talent.
The International Chemistry Olympiad is an annual competition in which high school students from around the world compete in chemistry. South Korea has sent a team since the 24th edition, held in Pennsylvania in the United States in 1992, and has posted strong results each year.
This year's competition, the 59th, will be held in Taipei, Taiwan, from July 19 to 28 next year, with pre-registration set to open in March next year.
"We are continuing a range of efforts to nurture talent in science and engineering, including research support and educational sponsorship," a company official said. "We will keep contributing to the development of future talent in science and technology."
Separately, Samsung Electronics (005930.KS) sponsors South Korea's teams for the International Mathematical Olympiad and the International Physics Olympiad, while Samsung Biologics (207940.KS) and Samsung Bioepis sponsor the national team for the International Biology Olympiad.