The Taiwanese billionaire announced on Monday the establishment of the Tang Prize, a kind of Asian Nobel Prize, for contributions to research in sustainable development, biopharmaceuticals, sinology, and law.
Billionaire Samuel Yin will support the new prize with three billion Taiwanese dollars (75 million euros) to ‘encourage research that will benefit the world and humanity, promote Chinese culture, and improve the world,’ he stated.
The Tang Prize will be awarded every two years starting from 2014. Each recipient will receive a check for 50 million Taiwanese dollars (1.25 million euros), which is more than the Nobel Peace Prize winner (922,000 euros).
