Happybean

Happy Bean, is an online donation portal operated by the Happy Bean Foundation.

History

It is Korea's first online donation portal site launched by Beautiful Foundation and Naver in July 2005. In 2009, Naver used its initial capital of 3 billion won to cast Ministry of Public Administration and Security in charge of Non-profit and "Happy Bean" in charge.

User's method of donation

Based on the slogan "Happy World Drawing with Clicks," the portal serves as a stepping stone to connect donors and help-seeking groups. In the early days, it was operated as a donation crowdfunding method, in which a charity posted a story on the site, and the donor donated "bean" (100 won per unit). Later, a "theme donation" method was added to select and donate fundraisers of categories within each theme, and a "bean savings bank donation" method was added, in which acquaintances and cafe members gathered together and selected groups to donate. Although the virtual currency "bean" was also charged directly, it was also available for activities within Naver such as knowledgeiN, blog, and café or by clicking on the bean banner pop-up window.[1][2][3][4]

A charity organization

Various [volunteer organizations] can win the support of portal users, and they operate the portal so that users can easily participate in the sharing of charity groups. As a result, charities, [social enterprises], etc. are also helping to establish themselves in society.[5]

On the other hand, organizations that perform projects that contain unethical values, organizations that falsely initiate fundraising contents, and organizations that have been found to have committed or were caught in audits by their respective ministries may be restricted from their use or, in some cases, the amount of money collected may be recovered.[6]

Growth

Happy Bean is showing steady growth. The total amount of donations by year has steadily increased to 5.4 billion won in 2013, 7.5 billion won in 2014, 8.6 billion won in 2015, 10.6 billion won in 2016 and 12.9 billion won in 2017. As a result, the foundation has also been increasing its spending on public utility projects. The annual expenditure on public utility projects was 9.3 billion won in 2014, 10 billion won in 2015, 9.5 billion won in 2016, and 10.7 billion won in 2017, accounting for 80 to 90 percent of the foundation's total spending..[5]As of June 27, 2019, there were about 15.1 million cumulative users who participated in the donation, and the total accumulated donation amount was about 102.5 billion won.[7]

Evaluation

By applying Naver's character as an online portal, the company is said to have presented a new type of donation culture away from the existing donation method.[3]

See also

References
  1. Kwon Hyuk (June 24, 2019). "Naver CSR: Happy Bean, 35 million social contribution activities". Shared Economy.
  2. Lah Hyun-yoon (June 12, 2019). "Donation → Funding →Shall we go?The evolution of Happy Bean's public fund platform". beneficial net.
  3. Bae Soo-ram (November 9, 2018). "Ramie's chaebol: Affiliate-invested "Zero" Naver". Financial Today.
  4. Kwon Hyuk (June 24, 2019). "Naver CSR: Happy Bean, 35 million social contribution activities". Shared Economy.
  5. Kwon Min-soo (October 11, 2018). ""Company and Foundation, Portal and Game Part 1: Good Public Interest Corporation."". MediaSR.
  6. Kim Yeon-soo (February 6, 2019). "Naver Happy Bean, Asiana Airlines...Suspended support activities after Care's 'Painting the Temple of Peace'". News1.
  7. "Happy Bean Status". Happy Bean. June 27, 2019.

Category:Websites

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