New Charity Foundation Holds First Conference

The 'Beautiful Foundation,' which was founded to help the poor and nonprofit foudations, had its first conference on August 22 at the Art Sunjae Center in Seoul Chongro-Gu, Angook-Dong.

The People's Solidarity for Participatory Democracy has played a major role in creating the foundation, and Moon Gook-hyun, the president of Yuhan-Kimberly, and Kim Seun-yoo, the president of Hana Bank, will participate as directors in the group.

During the openning conference, the participants emptied their wallets to symbolize the spreading of the merits of donation.

The major goal of the Beautiful Foundation is to give people a place to donate their money to society. To give additional incentive and motivation to individual donators, the names of donators will be attatched to the different fund names and the money will be used according to the donators' wishes.

People can make donations in various ways: cash, art pieces, real goods, or real estate. There is no limitations on how much can be given, however, if a person wants a fund named after them, they should donate at least 10,000,000 won.

'The Most Beautiful Ways of Using Money Consulting Head Office,' which will report how the money was used to donators, will be created to manage the funds.

The 'Beautuful Foundation' will also hold the campaigns, 'Bequeath 1 Percent' and 'Sharing the Market,' as a ways of securing money. There are already 27 people who have stated that they will leave 1 percent of their estate to the foundation, and 10 companies will participate in the 'Sharing the Market' campaign, in which companies donate 1 percent of their net profits.

by Ha Jae-shik