Ilhan New

	Ilhan New
Hangul	유일한
Hanja	柳一韓
Revised Romanization	Yu Il-han
McCune–Reischauer	Ryu Ilhan

Ilhan New
Ilhan New
Born	January 15, 1895; Pyongyang, Korea
Died	March 11, 1971 (aged 76); Seoul, South Korea
Nationality	South Korean
Education	University of Michigan (B.Com.) ; University of Southern California (MBA) ; Stanford University (J.D.)

Ilhan New (유일한 柳一韓, January 15, 1895 – March 11, 1971) was a Korean independent activist and enterpriser. He founded La Choy Food Products, Inc. and Yuhan Co, Ltd.. His original Korean name was Ilhyeong New.

Early life

New was born in 1895 in Pyongyang among nine brothers and sisters, and emigrated to the United States at the age of 9.[1] In America he gained a degree from the University of Michigan and founded La Choy Foods in 1920.[2]

Yuhan Corporation

New returned to Korea in 1926, where he established the Yuhan Corporation under the notion that “Only healthy people can reclaim their sovereignty.”[3] Believing that it was the duty and responsibility of a business to develop itself for the prosperity of all of society, New traded Yuhan in the stock exchange for the first time in the Korean pharmaceutical industry and started a programme of employee ownership.[1] He was involved in the establishment of Mangho-Kun and participating in the NAPKO Project, the Country reclamation operation initiated by the United States Office of Strategic Services. In 1943, he authored a booklet entitled "Korea and the Pacific War" which was based on a report he prepared for the Office of Strategic Services (OSS). He also founded several schools.[1]

Death and legacy

When he died at the age of 77, he donated all his wealth to the public foundation named the Korean Society and Education Aid Trust Fund.[1] Jae-Ra New, Il-han New's first-born daughter, also contributed her entire fortune to a Korean public foundation named the Yuhan Foundation when she died in 1991.

The Yuhan Foundation and Yuhan School he founded are active in a variety of public welfare activities, scholarship programs and education for students. These activities are supported by the Yuhan Corporation's high dividend policy.

References

Kate Gillespie; H. David Hennessey (2 February 2010). Global Marketing. Cengage Learning. p. 523. ISBN 1-111-78765-4.
Anne Soon Choi (2007). Korean Americans. Infobase Publishing. p. 47. ISBN 978-1-4381-0714-1.
Wayne Visser; Nick Tolhurst (1 June 2010). The World Guide to CSR: A Country-By-Country Analysis of Corporate Sustainability and Responsibility. Greenleaf Publishing. p. 377. ISBN 978-1-907643-09-5.

External links

Yuhan Corporation Homepage

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[GillespieHennessey2010-1] Kate Gillespie; H. David Hennessey (2 February 2010). Global Marketing. Cengage Learning. p. 523. ISBN 1-111-78765-4.

[Choi2007-2] Anne Soon Choi (2007). Korean Americans. Infobase Publishing. p. 47. ISBN 978-1-4381-0714-1.

[VisserTolhurst2010-3] Wayne Visser; Nick Tolhurst (1 June 2010). The World Guide to CSR: A Country-By-Country Analysis of Corporate Sustainability and Responsibility. Greenleaf Publishing. p. 377. ISBN 978-1-907643-09-5.