Founding Principles

Founding Principles

The Asan Nanum Foundation is a public welfare foundation established in 2011 to commemorate the 10th death anniversary of Hyundai Group’s founder Asan Chung Ju-yung.

The Asan Nanum Foundation is a nonprofit foundation established in October 2011 by Dr. Chung Mong Joon, to commemorate the 10th anniversary of Asan’s passing. With generous contributions from Asan’s family members and affiliated companies, the Asan Nanum Foundation seeks to carry on Asan’s legacy of philanthropy.

‘Asan’ Chung Ju-yung (1915-2001), Hyundai Group’s founder, was born the eldest son into an impoverished farming family in the small village of Asan in Gangwon Province in the Japanese -occupied, present-day North Korea. Known for his entrepreneurial spirit and relentless determination, he was a visionary whose extraordinary accomplishments left an indelible imprint on the history of modern Korea.

Asan once said that “those who believe that anything is possible will be able to achieve everything.” We believe Asan’s guiding principle is also applicable today. By supporting individuals and organizations striving to create positive change in our society, the Asan Nanum Foundation seeks to promote sustainable social development.