Kim Bong-Jin, founder and CEO of Woowa Brothers, and his wife, Bomi Sul, became the first Koreans to sign The Giving Pledge.
Courtesy of Woowa BrothersSouth Korean businessman Kim Bong-Jin, founder and CEO of Woowa Brothers, which started the country’s largest food delivery app, Baedal Minjok, has pledged to give away more than half of his wealth.
Kim and his wife, Bomi Sul, became the first Koreans to sign The Giving Pledge, a global, multi-generational commitment by some of the world’s wealthiest to give a majority of their wealth to philanthropy or charitable causes, either during their lifetimes or in their wills.
The 45-year-old Kim owns a 9.9% stake in Delivery Hero, a German delivery app that acquired Kim’s company in 2019 for 4.8 trillion won (US$4.3 billion). It’s not clear how much Kim’s net worth is, but generally signatories of The Giving Pledge have more than $1 billion in wealth.
Kim was the 219th signatory of The Giving Pledge, launched in 2010 by Bill and Melinda Gates, and Warren Buffett. Last year, 13 new billionaires joined the campaign.
“Ten years ago, when I was running a small company of less than 20 employees, I read an article about Bill Gates and Warren Buffett making the pledge and had a wild dream of one day making the pledge myself,” Kim wrote in his pledge letter published Thursday. “It is very overwhelming that I am making such a pledge, today.”
Kim and his wife donated $9 million to philanthropy in the past three years, he said in the letter. “The process of giving made us feel rewarded and fulfilled, even gave us the motivation to grow our business further. It also taught us many things related to practical issues involved with giving,” he wrote.
Although he did not provide details about his giving, “we are envisioning how to resolve the issue of educational inequality, support arts and culture, and establish an organization that could help philanthropic institutions in carrying out their work,” he said.
Earlier this month, Brian Kim, the founder of South Korea’s top mobile-messenger operator, Kakao Corp., announced that he also would donate more than half of his wealth—estimated at US$8.9 billion—to solve social issues. He did not say at the time whether he would sign on The Giving Pledge.
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South Korean Businessman Kim Bong-Jin Vows to Give Away Half of His Wealth - Barron's
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