Moonsook Science Foundation Chairman Lee Woo-kyun, left, and Women's Bioscience Forum President Baik Ja-hyun pose after signing a memorandum of understanding on supporting female bioscientists in Seoul, Wednesday. Courtesy of Women's Bioscience Forum

The Women's Bioscience Forum (WBF) and the Moonsook Science Foundation signed a memorandum of understanding (MOU) Wednesday to nurture talented female bioscientists in the country and celebrate their achievements.

The signing ceremony was held at the foundation's office in Korea University in Seoul, during which the foundation agreed to sponsor the annual Saebyul Award, the WBF said.

The WBF founded the award in 2005 to honor outstanding young female bioscientists in Korea and support women's advancement in the scientific community. A total of 56 female scientists have received the award since its establishment.

The WBF is an organization of female scientists in biology. It was established in 2001 and aims to strengthen the country's competitiveness in life science by empowering women in the field and supporting gender equality.

The organization provides and promotes research opportunities and networks for female scientists and protects their rights and welfare.

This year, three female life scientists who are taking doctorate courses and two who are going through post-doctoral courses will each be given a 1 million won ($760) and 2 million won scholarship, respectively.

"We're glad to be able to continue discovering new generations of talented female scientists through this MOU," WBF President Baik Ja-hyun said. "It is especially more meaningful that the Saebyul Award will be handed out with the sponsorship of the Moonsook Science Foundation, which has run its scholarship and research programs for a long time."

The Moonsook Science Foundation was founded in 2012 to foster talent in the life and environmental sciences. The foundation is named after its late donor Moon Sook.

Born in 1924 in North Pyongan Province, North Korea, Moon came to South Korea in 1947 and ran a freight transport business and served as a board member of the Korean Women Entrepreneurs Association.

She was diagnosed with stage 4 tuberculosis in her 20s but fully recovered after receiving treatment at a public nursing home in Masan, South Gyeongsang Province. In return, she established the foundation to contribute to the advancement of medical science and provided scholarships to hundreds of students at Korea University who are studying medical sciences to save lives. She was awarded a national medal in 2014 for her accomplishment.

This year's Saebyul Award will be held at the Korean Federation of Science and Technology Societies in Seoul in September.