Business leader expands long-term philanthropic giving in Korea
Summary and headline written by AI from the source article. How we work
Won Young-sik, chairman of Ocean In The Blue, a South Korean company, increased his charitable giving to 10 billion Korean won (approximately $7.5 million USD) through the “Good Way With Us” Hope Fund.
He began donating to low-income individuals and elderly people living alone in 2003, and his support has since expanded to include medical expenses and living costs for people with disabilities and serious illnesses.
In 2009, Won joined the Honor Society, a group of high-value donors, and his wife, son, and daughter-in-law also participate in charitable giving. He initially established the Hope Fund in 2021 with a pledge of 5 billion won, and recently doubled that commitment. The funds support scholarships for adolescent immigrants and those from low-income families, medical care for immigrants, learning and rehabilitation programs for people with severe disabilities, and emergency relief for areas affected by wildfires.
This year, the fund also provided electric scooters for people with kidney disease and custom wheelchairs for those with spinal cord injuries. The Hope Fund operates as a donor-customized fund managed by the Community Chest of Korea, allowing Won to direct his contributions towards specific causes.
