AASP: Asian Actuarial Scholarship Program,supported by the Life Insurance Social Contribution Fund, selects about 6 outstanding students from Asian countries (current: China, Thailand, Vietnam, Indonesia, Mongolia) every year. The selected students complete the master's program in the actuarial major of the Department of Statistics and Actuarial Science at Soongsil University. This program subsidizes tuition, admission, dormitory, living expenses, and round-trip ticket purchases by subsidizing the selected students with annual expenses of US$20,000 per student for two years.
The program has a support system for all aspects of life, including support for Korean language classes. It also assigns a dedicated assistant for international students to assist them with airport pick-up, dormitory, bank and hospital-related work. It also provides instructional help to international students and provides support for SOA exams. If a student wishes, we have them complete an internship at a domestic life insurance company during the vacation period so that they can gain experience related to their major.
The graduate major courses offered by this department are systematically linked to the North American Society of Actuary (SOA) exam, and we also offer additional courses that are helpful in practice.
Starting with the selection of 4 students in the first semester of 2011, 21 students have graduated from the AASP program. Currently, 10 students are studying hard to complete the course. The competitiveness of the AASP program is increasing over time in many Asian countries.