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네이버 공유 카카오 공유 트위터 공유 페이스북 공유

Time for the Business Community to Join the Efforts to Upgrade Korea's Global Image

In the 21st century, known as a "century of culture," a country's cultural and academic status, as well as its business competitiveness, are determined by its capability to added value. Therefore, having the people of the world properly understand Korea serves as a fundamental means to reinforce the competitiveness of Korean businesses and to enhance Korea's country brand. In response to this phenomenon, world-leading countries, such as the United Kingdom, Germany, France, and Japan, have from long ago established international exchange organizations (British Council, Goethe Institut, Alliance Française, and Japan Foundation), along with making substantial investments in the efforts to promote their own country brand.

As for Korea, the Korea Foundation was established in 1991 as an organization that focused on the implementation of international exchange activities. Over the past 16 years, the Korea Foundation has undertaken various efforts to promote understanding about Korea through the provision of support to such institutions as universities, museums, and libraries abroad.

With a special emphasis on the promotion of Korean Studies abroad and development of Korean galleries at overseas museums, the Korea Foundation has contributed to the establishment of 82 Korean Studies professorships in 57 prestigious universities and the offering of Korean Studies courses at some 270 universities around the world, as well as the opening of Korean galleries in 16 world-famous museums, including the British Museum and the Metropolitan Museum of Art.

One of the key factors behind these achievements was the government's inclusion of the Korea Foundation in 1994 as a beneficiary of the Restriction of Tax Reduction and Exemption Act. By providing a tax-reduction incentive to donors who made financial contributions to the Foundation, the act was instrumental to the Korea Foundation's ability to expand its various programs. Thanks to this inclusion, the Korea Foundation was able to launch a "Designated Donation Program" and receive contributions from the private business sector to supplement its regular program budget. As a result, the Foundation was able to implement 61 projects with the donations received from 36 businesses and individuals, amounting to a total of 27.8 billion won.

In 1998, due to a discontinuance of this tax incentive for donations made to the Foundation, the Foundation again faced difficulties in raising fund from private donors. Accordingly, in 2006, the National Assembly agreed to resume the provision of this tax-reduction incentive for private-sector donations made to the Foundation. Consequently, the Korea Foundation now intends to actively solicit donations in order to expand corporate investment in the academic and cultural programs abroad.

Under the Designated Donation Program, business and individual donors can designate the particular institution and the academic or cultural project for which their donation will be used. And, in conjunction with the recipient institution, it might be possible for such projects to be named after donors. Therefore, the Designated Donation Program can enhance the corporate image of business donors in a more effective and longer-term manner than ordinary publicity or advertising activities. In addition, it will contribute greatly to boosting Korea's country brand throughout the international community. The Korea Foundation looks forward to the participation of interested business and individual donors in the Designated Donation Program.


【 Donation Funds are used to: 】
- Establish professorship chair of Korean Studies at universities abroad
- Support Korean Studies courses at universities abroad
- Provide Scholarship aid for next-generation specialists of Korea abroad
- Support Korea-related research conducted by leading institutes abroad
- Distribute of Korea-related books and materials to overseas libraries
- Conduct Invitation program of next-generation leaders to Korea
- Establish and operate Korean galleries at prominent museums abroad

【 Administration of Donation 】
- If a donor does not choose to designate a specific use or project, the donated funds are used for various international exchanges programs implemented by the Korea Foundation.
- When a donor designates a specific project in a particular country/region, the Korea Foundation fully undertakes the designated project from the start to follow-up measures, based on the Foundation's specialized staff capability and expertise. In this case, a tripartite agreement, among the donor, the Korea Foundation, and the recipient institution, is concluded to outline their respective obligations and rights, and the project may be named by the donor, in consultation with the recipient institution.

【 Examples of Donor-Designated Projects 】
• Establishment of university professorship
- "Yoon Se Young Professor of Korean History" at Harvard University, U.S.
   (SBS Foundation)
- "Chung Ju Young Distinguished Professor of International Economics and Business"
   at Johns Hopkins University, U.S. (Hyundai Group)
• Support for Korean galleries at museums
- Provision of support to the British Museum for its acquisition of Korean artifacts
   (Hankook Samgong)
• Contact
- Fund Management Department
   Phone: (02)-3463-5683
   e-mail: fund@kf.or.kr

- If a Korean business or individual would like to make a contribution to the Designated Donation Program, please contact the Korea Foundation by phone or e-mail. Thereafter, a Foundation program officer will contact a prospective donor to discuss the related program details.

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