Established within the wake of the Asian monetary disaster within the late Nineties, Companions for the Future Basis marked its twenty fifth anniversary this yr, standing as a long-lasting instance of American companies’ contributions to Korean society.
Chairman Jeffrey Jones, who has labored to strengthen enterprise cooperation between Korea and the USA for the reason that Nineteen Seventies, believes the muse has grown right into a platform for firms to implement company social accountability (CSR) actions and can additional increase its mission to assist disabled staff and college students at regional universities.
“We offer a platform for firms to implement their CSR actions,” Jones stated throughout an interview with The Korea Instances. “Lots of firms have particular CSR actions that they need to do, however they do not have the personnel or know-how to implement these actions. So we assist them obtain that CSR objective.”
Companions for the Future Basis is a nonprofit group and the charitable arm of the American Chamber of Commerce in Korea (AMCHAM). It was based in 2000, when Jones was the chairman of AMCHAM, based mostly on a $1 million fund raised by means of a charity live performance in 1999.
On the time, Korea was reeling from the aftermath of the Asian monetary disaster, as many small and medium-sized enterprises went bankrupt and numerous staff misplaced their jobs. To assist affected households, the muse launched a scholarship program, believing that educating kids is important to securing the nation’s future.
“In the future I learn a newspaper article a couple of beautiful younger pupil whose father’s enterprise failed, and the image of the article had a younger woman sitting on the curb holding her head as a result of she didn’t have cash for tuition,” Jones stated, citing a survey on the time that exposed almost 70 % of younger folks regretted being born in Korea.
“And I simply felt very dangerous for the folks struggling, so we determined, ‘Let’s ship these youngsters to varsity. They should have a future.’”
Since its institution, the muse has offered scholarships to round 200 college students yearly, with whole contributions reaching roughly 11 billion gained ($7.6 million) so far. By the scholarship applications, many recipients have gone on to work at main firms, whereas some have joined the donor companies that supported the muse.
Notably, the muse has determined to focus its scholarships on college students attending universities exterior Seoul, reflecting the nation’s actuality that alternatives in Korea stay closely concentrated in prestigious colleges within the capital area.
Jeffrey Jones, chairman of the Companions for the Future Basis, speaks in the course of the 18th CEO Servers’ Evening hosted by the American Chamber of Commerce in Korea (AMCHAM) on the Conrad Seoul lodge, Thursday. Korea Instances photograph by Shim Hyun-chul
One case Jones recalled was that of a dental pupil who was on the verge of dropping out as a result of monetary hardship. With the muse’s assist, he was in a position to full his research and finally open his personal clinic. After establishing his follow, the dentist started dedicating at some point every week to offering free dental care to underprivileged neighbors, embodying the muse’s philosophy of giving again to society.
“One of many issues I’m very comfortable about is that it helped Korean folks really feel higher about foreigners doing enterprise of their nation,” he stated. “My philosophy has all the time been to spotlight the nice that donor firms do, not what the muse does, as a result of it’s the donors who actually make it occur.”
He famous that CSR actions don’t essentially work as a value for firms however can convey precise advantages as effectively. For example, he cited the muse’s Race to the Future program, launched within the mid-2000s when a U.S. firm in Korea was affected by extreme labor disputes.
At the moment, Jones and the corporate’s CEO agreed to introduce a donation-matching system through which the corporate would match the quantity its staff contributed. The initiative drew a constructive response amongst staff, enhancing their notion of the corporate and finally serving to ease the labor battle.
“By you giving, you might be forcing the corporate to additionally give, and the staff actually appreciated that,” Jones stated. “It was distinctive as a result of they felt like they have been inflicting the corporate to do good and it made them really feel higher.”
The inspiration is at the moment specializing in increasing its Comfortable Collectively program, which offers job coaching and employment alternatives for folks with disabilities. By the initiative, the muse connects collaborating firms with certified candidates and helps them create a extra inclusive office tradition.
“Below Korean legislation, firms are required to rent a sure proportion of disabled staff,” Jones stated. “However most of them simply decide to pay the high-quality and don’t trouble hiring disabled folks.”
By the Comfortable Collectively program, the muse encourages firms to vary that method by connecting the companies with skilled job seekers with disabilities. Jones stated this not solely helps firms meet their authorized obligations but additionally improves worker morale, as workers members can really feel pleased with working for a extra inclusive group.
“At this level, now we have only a few firms collaborating, however I wish to see it increase,” he stated. “By that enlargement, I hope the muse can assist increase consciousness about folks with disabilities and present that they too might be productive, contributing members of our society.”
