[THE INVESTOR] AmorePacific Group chairman Suh Kyung-bae is dipping into his own pockets to establish a public interest foundation, the cosmetics company said on July 11.

The foundation, tentatively named the “Suh Kyung-bae Science Foundation,” will be launched in September, according to those close to the organizers. 

 

The main aim will be to fund the research of up-and-coming scientists in new and creative fields, AmorePacific said.

The launch date has been set for September, and details of Suh’s donation will be unveiled then.

A total of seven people including Suh, Seoul National University’s professor of chemical and biological engineering Kim Byung-ki and KAIST’s biological sciences professor Oh Byung-ha, are launching the foundation.

The seven stressed that it was imperative that South Korea reidentifies itself as a fast-mover, and not a fast follower in order to pursue faster, trendier and more effective science and technology in the future.

By Kim Ji-hyun (jemmie@heraldcorp.com)