By This is pretty cool of Korean President Lee Myung-bak:
President Lee Myung-bak has donated tens of billions of won to establish a scholarship foundation, fulfilling one of his campaign pledges.
The donation is worth more than 33-point-one billion won. After the donation, the president’s assets are worth four-point-nine billion won.
The foundation has been named after the president’s pen name “Chyeonggye.” Former Justice Minister Song Jung-ho, a long-time friend of the president, will head the foundation.
Lee said that he had received significant help from many people when he was young and poor.
He said that he decided to make the donation as a meaningful way to return the favor by helping those who are poor but hardworking. [KBS Global]
More on this announcement from Yonhap as well.
Think about this, President Lee roughly gave up 90% of his wealth to set up this scholarship foundation. How many President’s in American history have ever done such a thing? I cannot think of one off the top of my head.
I wonder how the Korean left will criticize this announcement? I’m sure they will find some way.
7:42 pm on July 6th, 2009 1
That’s pretty incredible.
7:56 pm on July 6th, 2009 2
Incredible…until you realize that it was one of his campaign promises.
9:01 pm on July 6th, 2009 3
Campaign promise or not, giving up 90% of your wealth is impressive no matter how you look at it.
10:06 pm on July 6th, 2009 4
So, following through is a bad thing now?
10:35 pm on July 6th, 2009 5
yes it was one of his campaign promises but what makes this incredible is that he did it with his private funds, not with tax payer’s money. it wasn’t just a small portion of his wealth, but most of his money.
11:35 pm on July 6th, 2009 6
Sure.
11:36 pm on July 6th, 2009 7
…Not to say that he won’t be raking in the cash the moment he leaves office.
11:37 pm on July 6th, 2009 8
No, but I think you forget that campaign promises are rarely altruistic.
11:38 pm on July 6th, 2009 9
Nothing surprising about that. The promise was to use his own money.
11:40 pm on July 6th, 2009 10
In any case, good for him.
2:58 am on July 7th, 2009 11
Bill & Hillary are adopting a Tanzanian child. The adoption will be finalized this week. A public announcement is imminent.
The PR guys will speak of them adopting a boy named Jambo, although his name is truly Michael. It works out nicely since no one wants an MJ connection these days and Bill likes hitting Jamba Juice a few times a week.
Look for 42 to be carrying Jambo on a Segway from his Harlem HQs down to Central Park.
9:00 am on July 7th, 2009 12
at least he put his money where his mouth is.
5:19 pm on July 7th, 2009 13
#4, thanks for that random mind fart.
9:06 pm on July 7th, 2009 14
Campaign promise or not, it’s still a damn good thing to do. Let’s see if any other world leader follows suit.
9:58 pm on July 7th, 2009 15
I understand Mugabe in Zimbabwe will be donating a trillion dollars to help the needy (I think thats about $3 in US)
12:28 am on July 8th, 2009 16
Be that as it may, but giving up most of your wealth is something that deserves come credit.
6:42 am on July 8th, 2009 17
Depends on the promise- but this is, well, NICE. He knows he’ll have plenty left over AND deals after, too- not a damn thing wrong with that!
As long as there’s nothing sneaky about it somewhere or how- good on him.