Ray of light
Donations by self-made entrepreneurs have positive impact
Kim Bong-jin, founder and CEO of Woowa Brothers, is donating more than half his wealth to charity, according to the company, Thursday. Kim is expected to give away at least $500 million and become the first Korean to participate in the Giving Pledge, a global campaign comprised of billionaires who have promised to donate large amounts of money for charitable purposes.
The announcement came a week after Kakao founder Kim Beom-soo vowed to give away half of his wealth, purportedly amounting to more than 5 trillion won ($4.5 billion). These are moving stories like a ray of light in darkness amid the deepening bipolarization of wealth, and aggravated living conditions suffered by the underprivileged due to the persistence of the COVID-19 pandemic.