AmorePacific Group to Establish Science Foundation Named after Its Chairman

The promoters consisting of AmorePacific Group chairman Suh Kyung-bae and prominent scholars in Korean scientific circles announced that they agreed to establish the Suh Kyung-bae Science Foundation at its inaugural meeting held on July 11, 2016.

As a public interest foundation created on the basis of the private donation from the chairman, the science foundation will conduct its activities in earnest starting from this upcoming September, equipped with board of directors, executive office, and an advisory committee in its organization. It plans to locate promising young scientists, who are creative and enthusiastic in exploring new areas in life sciences, while supporting their research activities in the long term.

Concerned about the limitations of the domestic scientific research, the chairman of Korea’s largest cosmetic maker made it clear that he hopes the foundation will contribute to the advance of scientific technology. “Over the last decades, South Korea has made great strides by strategically acting as a fast follower, who quickly learns advanced scientific technologies focusing on practical research, but in preparation for a new age, it should get out of the old strategy and switch into a first mover. To do this, the foundation will help our young scientists become creative explorers who venture into untrodden areas,” he said.

Chairman Suh stressed first of all that the science foundation will operate independently from the business group, adding, “What I want to make clear is that the foundation will never carry out the same research as the group has already conducted.”