Myoung-Cheul Chung is a Master's Degree graduate of New York University.

In 1995, as a tribute to Nancy and Lowell Swortzell, he established the ongoing Myoung-Cheul Chung Fellowship Award to support graduate and undergraduate students at New York University.

More recently, he established Scholarship Awards in South Korea.

"I believe that we must give back what we receive, so that the nourishing and enriching cycle can continue. That is why I established my Fellowship Awards."