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President Lee Fulfills Campaign Pledge to Donate His Personal Assets

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공표년도

창작년도

2009-07-06

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President Lee Myung-bak kept his last-minute campaign pledge to donate his personal assets to the people of Korea.
The Presidential Office announced Monday that the president will contribute three buildings in Seoul and his lifetime savings worth over 33 billion won‚ or more than 26 million US dollars‚ for youth scholarships.
This amount leaves out only the home he plans to live in after retirement out of his entire personal fortune.
The money will be spent through the "Lee Myung-bak & Kim Yoon-ok Foundation" that will be launched by early next month.
The top office believes that by operating the fund the scholarship project will be able to generate annual profits of about 1.1 billion won‚ or around 870 million dollars‚ to aid students in need.
In written remarks about his donation President Lee emphasized that his assets are very precious to him‚ so he would like the money to be spent wisely to help the people.
President Lee added that he made the decision even before deciding to run for president although he did incorporate it into his campaign pledge just 12 days before the election.
In his statement‚ the president also reflected on the fact that everyone who helped him during his underprivileged youth and made him the person he is today were people that were poor and that he wanted to return the favor.
The decision followed President Lee's so-called "fundamental solution" that he announced last month to unify the conservative-liberal split.
And the president vowed to give up his grand canal project last week to embrace the opposition‚ while focusing on improving the livelihoods of the lower-middle class during the second half of this year.
Presidential Spokesman Lee Dong-kwan stressed‚ however‚ that the donation and Lee's comments on his poor upbringing are sincerely motivated.
Kim Bum-soo‚ Arirang News.
Reporter : kimbumsoo@arirangtv.com

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