[Newsletter] Spring 2022


DateMay 26, 2022





The Spring edition of The Asia Foundation Korea is here! 

Please check our latest news.



Impact for Breakfast (IFB) Seoul Presents New Policy Recommendations
on ESG at the National Assembly

Photo provided by Congressman Cho Jung-hun’s Office

On April 19, The Asia Foundation organized a dissemination event at the National Assembly to present IFB Seoul’s policy recommendations on ESG and sustainable finance to the next administration of the Republic of Korea. IFB is a global network of family offices, philanthropists, and impact investors. The Asia Foundation manages the Seoul Chapter.

The event was co-hosted by a bi-partisan group of Korean parliament members: Cho Jung-hun (Transtion Korea Party), Kim Sung-joo (Democratic Party of Korea), and Cho Hae-jin (People’s Power Party). The report was presented by Chairman Chung Jinho (The Wells Investment), with comments by Dr. Lee Il Houng (Bank of Korea), Prof. Sohn Jie-Ae (Ewha Womans University), and Dr. Park Chong Hak (Barings Korea).


New Women Entrepreneurs Certified as Personal Initiative (PI) Trainers
and PI Women Entrepreneurs Association Launched

After completing The Asia Foundation’s PI Training of Trainers in September 2021, CEO Park Jiwoo of InGoodCompany Education Center, CEO Yoon Jihye of Endless, and CEO Lim Hayul of Solemaman were certified as new PI Trainers.

While participating in the training, they launched new projects, reflected PI ideas to their business, and established the Personal Initiative Women Entrepreneur Association to vitalize PI culture among women entrepreneurs. As PI trainers, they will deliver PI training for women entrepreneurs in Gyeonggi province from April to July. They also shared their enthusiasm to equip other women peers with PI traits such as self-starting entrepreneurs.


New Board Members Appointed
to the Friends of The Asia Foundation

Dr. Min Sunshik, Ms. Sung Rae Eun, and Mr. Hong Jeongdo (from left)

Dr. Min Sunshik, Chairman of YBM Holdings, was appointed as the new chairman of Friends of The Asia Foundation. He replaced Chairman Moon Kook-Hyun, who will continue to serve Friends of The Asia Foundation as a Board of Director Emeritus.

Ms. Sung Rae Eun, President and CEO of Youngone Holdings and Mr. Hong Jeongdo, Vice Chairman and CEO of JoongAng Holdings have become new Board members. They join The Asia Foundation President David Arnold, former South Korean Ambassador Kathleen Stephens, current Ewha Womans University President Kim Eun Mee, and former Minister Kim Jin-Hyun.

Friends of The Asia Foundation Korea (FOTAF) is a non-profit support organization for the Foundation’s program in Korea. Founding members include former Prime Minister Lee Hong-Koo and former Foreign Minister Han Sung-Joo.

Report: Policy Recommendations on ESG
to the Next President of South Korea

Impact for Breakfast (IFB) Seoul launched the report, "Policy Recommendation on ESG and Sustainable Finance in South Korea,"co-chaired by Congressman Jung-Hun Cho (Korea Transition Party) and President Jinho Chung (The Wells Investment). Interest in ESG has increased exponentially in South Korea in recent years, moving from approximately USD 200-300 million in 2020 to about USD 7 billion by early 2022. Globally, there has been a dramatic rise around the world to mobilize private finance for social and environment impact purposes.

The government is just starting to catch-up around the rapidly evolving ESG trends. Various voices in society expects a greater public role and policy clarity. To articulate this view, from May to December 2021, a group of leaders from the private sector, academia, government, and civil society, identified key priority areas related to ESG and policy recommendations to the next President in South Korea.

ROK-U.S-Australia Trilateral Dialogue Report Released

"Firm Partners In An Unstable Region: Prospects for Trilateral Cooperation between the Republic of Korea, the United States, and Australia" was published. The report is based on a virtual Trilateral Dialogue organized by The Asia Foundation and USAsia Perth Centre in December 2021.

The three countries are drawn progressively closer by shared security challenges, supply chain, energy security, Covid-19 recovery needs, and the significant benefits of enhanced economic coordination.

ROK-U.S-Vietnam Trilateral Dialogue Report Released

"Deepening Ties: Prospects for Trilateral Cooperation between the Republic of Korea, the United States, and Vietnam" was published.

Despite differences in political ideology, relations between the Republic of Korea, the United States, and Vietnam have deepened and evolved since formal diplomatic relations with Vietnam were established more than a quarter century ago. In December 2021, the first-ever trilateral dialogue between scholars, policymakers, and government officials (Track 1.5) from the Republic of Korea, the United States, and Vietnam was held to discuss the political, security, economic, and trade interests central to relations between these three countries. This report is based on the discussions held during the 2021 virtual trilateral dialogue. The Korean delegation was led by Park Jin (now Korea’s Minister of Foreign Affairs).


The IFB’s ESG report dissemination event held at the National Assembly in April was reported by multiple media sources in Korea. Please click the links below to see the full news articles.

The Women News

Title: 아시아재단, 차기 정부에 ESG 경영 정책 방향성 제시 위한 토론회 열어

Date: April 21, 2022


The Energy Daily

Title: 대한민국 ESG 및 지속가능금융강화 정책 보고서 발간회

Date: April 19, 2022


Junggi Economy

Title: "정부, ESG 전략·계획 및 컨트롤 타워 구성해야"

Date: April 19, 2022


The Korea Industry Daily

Title: ESG, 선택 아닌 필수..."신(新)정부, 정책 컨트롤 타워 등 준비해야"

Date: April 19, 2022


The Bell

Title: ESG 활성화 위해 '세컨더리 펀드' 조성 필요

Date: April 21, 2022


The Asia Foundation Korea Office
7F, Bunam Building, 447, Samil-daero, Jongno-gu, Seoul, Republic of Korea (03148)
korea.general@asiafoundation.org | www.asiafoundation.or.kr | Tel: +82-2-732-2044~6

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