[KS] Korea Foundation Trims O'seas Projects

[Frank M. Tedesco]

>
>                   Korea Foundation Trims O'seas Projects
>    12/13
>      The Korea Foundation is scaling down its overseas projects,
>                   including the promotion of Korean studies, following the
>                   economic crisis here.
>                   The foundation is unable to launch new projects because
>    Korean corporations have markedly decreased donations and
>   because the value of the Korean currency has dropped since
>  late last year, when Korea was rescued by a $58-billion
>  International Monetary Fund (IMF) bailout program.
>
>                   ``We need to encourage private enterprises to make more
>                   donations to the foundation through active public relations
>          activities,'' said Korea Foundation president Lee Joung-binn.
>
>       The foundation has been dependent on the government's
>       donations, which have totalled 35 billion won over the last
>                   four years. One third of the 45,000-won Korean passport
>                   issuance fee has been channeled to the foundation because its
>                   activities are considered ``private diplomacy.''
>
>                   However, the sharp decrease in trips abroad by Koreans
>                   following the economic crisis has dealt a blow to that source
>                   of funds.
>
>                   Vice President Chung Jong-moon said total passport fees
>                   collected reached around 24 billion won before the crisis,
>                   but now stand at half that amount, hampering the foundation's
>                   pursuit of raising up to 200 billion won.
>
>                   ``We plan to maintain overseas projects that have been
>                   implemented for three to five years under an agreement with
>                   foreign universities. However, we face difficulties launching
>                   new projects,'' Chung said.
>
>                   The vice president said the foundation had reviewed its
>                   overall projects with the goal of focusing on some
>                   ``strategic'' projects while driving out various projects of
>                   less significance.
>
>                   According to him, the foundation's annual operation fund has
>                   decreased from 16 billion won to 12 billion won since the
>                   crisis.
>
>                   In fact, the foundation has taken care of a series of
>                   projects to help foreigners deepen their understanding of
>                   Korea, especially in fields where the government's direct
>                   intervention is not welcome.
>
>                   Meanwhile, the foundation plans to hold off on establishing
>                   Korean studies professorships at foreign universities,
>                   deciding instead to divert money to help foreign professors
>                   launch research or publications on Korean issues.
>
>                   So far, the foundation has offered $21 million to establish
>                   Korean studies professorships in at 33 international
>                   universities, including Harvard, Columbia, Stanford, Yale,
>                   University of Chicago and Oxford.
>
>                   The foundation plans to strengthen projects designed to
>                   financially support Korean studies at policy research
>                   institutions overseas. So far, the foundation has made
>                   contributions totalling $15 million to 42 institutes,
>                   including CSIS, Brookings Institution and Heritage
>                   Foundation, in 11 countries.
>
>                   Meanwhile, the foundation plans to inaugurate a program to
>                   invite foreign curators for training on the effective
>                   maintenance and exhibition of Korean art works stored at
>                   overseas museums.
>
>                   The foundation has made efforts to set up Korean galleries at
>                   overseas museums, thus far distributing $6.3 million to 12
>                   museums in six countries.
>
>                   The Korean exhibition, ``Arts of Korea,'' is currently on
>                   display at the Metropolitan Museum of Art thanks to a $3
>                   million donation from the foundation. For the project,
>                   Samsung donated $2 million in the name of the ``Kun-hee Lee
>                   Fund for Korean Art.''
>
>                   The Korean galleries in the British Museum and the Musee
>                   Guimet in France are expected to open in the year 2000.
>
>                   The foundation also plans to restructure its publication
>                   activities regarding the ``Korea Focus,'' a bimonthly booklet
>                   on current topics, and ``Koreana,'' a quarterly guide book on
>                   Korean arts and culture.
>
>                   The organization will temporarily suspend its publication of
>                   Koreana's French and Spanish editions starting next year
>                   based on the belief that European leaders can be reached with
>                   the English edition. Therefore, only three foreign language
>                   editions _ English, Japanese and Chinese _ will be available
>                   in the future.
>
>                   ---------------------------------------------------------------
>                          (C) COPYRIGHT 1998 THE HANKOOKILBO - KOREALINK

http://www.koreatimes.co.kr/14_1/9812/t4151493.htm



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