Stingy Ahn Cheol-soo Donates 150 Billion Won Through Frugality
Lee Joong-geun, Chairman of Booyoung, Gives 100 Million Won Each to Hometown Residents
Donation Queen IU Adds 200 Million Won for New Year, Totaling 5 Billion Won
Although it is still winter, South Korea is heating up with warm acts of kindness that melt the cold. The Community Chest of Korea, also known as the Fruit of Love, announced on the 12th that the sharing temperature has reached 96.9 degrees. The fundraising organization, which is running the 'Hope 2024 Sharing Campaign,' has raised 421.37 billion won as of that day. The campaign aims to collect 434.9 billion won from December 1, 2023, to January 31, 2024, to help those in need. The organization created a Love Temperature Tower where the sharing temperature rises by 1 degree for every 1% of the target amount collected. South Korea is on the verge of boiling over with donation enthusiasm.
News of 'secret good deeds' from people who do not reveal their names or ages is heard everywhere. Recently, it was reported that Bae Seong-jae, a former announcer and broadcaster, has anonymously donated tens of millions of won to help people with disabilities. As individual donors who donate over 1 billion won emerge one after another, they are becoming role models in society. The Honor Society O+ for ultra-high net worth donors who donate over 1 billion won, launched in November 2023, has already welcomed four members. The Korean-style Customized Donor Fund, a program started in 2018 for one-time or pledged donations of over 1 billion won, has recently grown to 15 members. Donations from celebrities known to everyone are gradually shaking the world with their 'good influence.' Who are the leading donors in politics, economy, and entertainment?
Ahn Cheol-soo, the frugal donor who donated 150 billion won
Ahn Cheol-soo, a member of the People Power Party, is showing his worn-out socks after receiving a gift of new socks from a supporter at a talk concert for the future of young people in the metropolitan area held on January 29, 2023, at the Gyeonggi Textile Comprehensive Support Center in Yangju, Gyeonggi Province. Photo by Yonhap News
The leading donor in politics is Ahn Cheol-soo, a member of the People Power Party. In 2011, Ahn donated shares worth approximately 150 billion won of AhnLab (Ahn Cheol-soo Research Institute) to establish the Donggurami Foundation. Known as the 'king of donations in politics,' Ahn is famous for practicing frugality. During the People Power Party presidential primary last year, he attracted attention when cameras caught him wearing socks so worn out that his heels were visible. At the time, Ahn said, "I really save on things and food," adding, "So I saved up and donated 150 billion won."
Lee Joong-geun of Booyoung Group’s generous donation of hundreds of billions... Future donation king Kim Beom-su of Kakao?
In the economic sector, Lee Joong-geun, chairman of Booyoung Group, has been consistently practicing sharing. Lee is the founder of Booyoung, which grew based on the construction industry, and holds about 94% of the group's shares as the major shareholder. The amount Lee has donated from his personal funds so far reaches 265 billion won. Notably, Lee attracted attention with his unique donations.
Chairman Lee Joong-geun (right), founder of Booyoung Group, is receiving the Cambodian National Merit Medal and posing for a commemorative photo. Photo by Booyoung Group
Last year, Lee transferred large sums of encouragement money to the personal bank accounts of his hometown residents and elementary, middle, and high school classmates. In June, he deposited up to 100 million won per person to 280 residents of his hometown, Unpyeong-ri. The payments were differentiated into five levels based on years of residence, and residents reportedly received between 26 million won and up to 90.2 million won after taxes. In August, he gave between 50 million and 100 million won to about 170 alumni of Dongsan Elementary, Suncheon Middle, and Suncheon High Schools.
Recently, he donated 600 buses to Laos and 1,200 buses to Cambodia. Lee donated buses to these countries out of concern for children's safety. During a business trip to these countries, he was worried because children had no proper means of transportation and were riding motorcycles dangerously. Lee said, "Seeing children riding motorcycles without any protective gear in the scorching heat made me think that dangerous situations could occur," adding, "I felt the need for safe public transportation for children."
Someone has already reserved the title of next-generation donation king in the economic sector. Kim Beom-su, founder of Kakao and chairman of the Management Innovation Committee, joined The Giving Pledge, promising to donate half of his wealth to society before he dies. Kim's stock assets are currently estimated at around 6 trillion won. The Giving Pledge is a global philanthropic movement created in 2010 by Bill and Melinda Gates and Warren Buffett, where billionaires pledge to donate more than half of their wealth to charity to become members.
In his Giving Pledge letter, Kim stated, "After achieving the wealth I aimed for, I lost direction in life and wandered for a while, but after reading the poem 'What is Success,' I was able to find my way forward," adding, "Starting with this pledge, my wife and I will tackle social problems that are difficult for companies to approach." Kakao is currently in crisis. The organization is shaken not by management issues but by problems arising from its relationship with society. If Kim keeps his promise, it is widely believed that the crisis will disappear.
IU donates 200 million won on New Year's Day... The original donor is Ha Chun-hwa
The entertainment industry, which grows on the love of the entire nation, also has many high-value donors. Singer IU is the queen of donations in the entertainment world. IU is often the first to extend a helping hand not only to socially vulnerable groups but also to places facing unexpected difficulties due to natural disasters or calamities. She has donated to organizations supporting vulnerable groups such as the Korea Senior Welfare Association, Korea Child Welfare Association, Korea Single Mothers Association, Korea Disabled Welfare Facilities Association, international relief and development NGO Good Neighbors, Green Umbrella Children’s Foundation, Korean Nurses Association, and Korean Medical Association. Her cumulative donations since debut amount to 5 billion won. On New Year's Day, she donated 200 million won to help socially vulnerable groups. Bang Si-hyuk, chairman of HYBE, donated 5 billion won to the Community Chest of Korea in October 2022, becoming the 13th member of the Korean-style Customized Donor Fund. In January 2023, he also donated 5 billion won to his alma mater, Seoul National University, for the expansion and renovation of the Culture Hall.
The original queen of donations in the entertainment industry is Ha Chun-hwa. Her donation amount is overwhelming. Over 48 years, she has donated more than 20 billion won. Ha has said that she continued donating under the influence of her father. In a radio broadcast last September, Ha said, "It’s all thanks to my father’s teachings," adding, "I received praise because I shared, but it’s the same as what my father did."
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