Amorepacific today announced the plans and visions for the Suh Kyung-bae Science Foundation built by the personal donation from Amorepacific Chairman Suh at a press conference in Seoul.
A non-profit organization dedicated to continued, long-term support for basic science, a discipline that holds great significance, the foundation will be funded by a personal donation of KRW 300 billion in shares from Chairman Suh.
At the inaugural meeting on July 11, the new foundation discussed key agenda items including the name of the organization, announcement of its visions and formation of its board of directors. It obtained approval from the Ministry of Science, ICT and Future Planning as a non-profit organization on August 4th and has pledged to support creative research projects in bioscience that require further development and hold significant potential for benefiting the advancement of science and the betterment of humanity,
Research Support Program
- Eligibility, Process, Benefits, Schedule and Etc.
Suh Kyung-bae Science Foundation is committed to the betterment of humanity by supporting innovative scientists in their quest for great discovery. It aims to help young, creative researchers in basic science and promote the field of bioscience in a bid to pave the way for furthering the advancement of humanity.
Based on the principle of putting scientists first, the foundation plans to identify innovative research projects with great potential benefits, create a free research environment that challenges scientists to expand their horizons and lend continued support to achieve long-term objectives.
Eligible for the foundation’s support are young, creative and dedicated Korean scientists residing in Korea and elsewhere who seek to conduct new research in basic disciplines of bioscience1). The foundation is scheduled to select 3-5 scientists through an open recruiting process and grant up to KRW 2.5 billion per project over a five-year period. It will also perform interim assessment on the selected projects to decide whether to lend continued, long-term support after the initial grant period.
The selection process consists of three components: document screening, assessment of full proposal and debate while key evaluation criteria include the uniqueness of research subject, its potential benefits and the competency of researchers.
- The document screening involves review of the summary of the research proposal by the judging panel for each department with blind assessment adopted for fair evaluation.
- The full proposal assessment is a peer view that looks at the full proposal to determine its feasibility.
- In the debate component of the process, the judging panel and the researcher engage in a Q&A session to evaluate the proposal and the researcher’s competence more thoroughly.
- After adding the scores for the three components, the judging panel chooses a list of candidates among the applicants before the board makes the final decision.
To ensure expertise and impartiality, the foundation plans to set up a scientific advisory board and a judging panel, both composed of experts from Korea and abroad. The board will lend advice on the overall operation of the foundation and overseas support programs (selecting young Korean scientists living abroad and managing a network of expatriate researchers) while the judging panel, composed of experts in different fields, will be responsible for assessing research projects submitted.
The inaugural invitation is scheduled to be announced in November this year with applications to be received in January and February of next year. After the document screening (May to April) and the rest two components of the selection process (May), the foundation will make its final decision in June 2017.
In the first few years after its inception, the organization plans to focus on identifying talented scientists and selecting key research areas. It will also create an environment where scientists can fully concentrate on their research, which the foundation expects will lead to further support for the selected researchers in the long-term.
“I hope that talented Korean scientists keep developing new ideas and that a validation process helps turn those ideas into unique, creative research subjects, which could lead to innovation and promote global competitiveness of the Korean scientific community,” said Chairman Suh, “This, in turn, could raise Korea’s competitiveness as a country and contribute to the advancement and betterment of humanity.”
[Reference] Background/history: Giving back to community by promoting science
The founding chairman cherished talents. He was keen to support them and remained faithful to the like-minded people. One of the pillars that served as the foundation for Amorepacific as it is today was his appreciation for talented individuals.- Cosmetics is My Life: The Story of Suh Sung-whan, Founder of Amorepacific
From early on, Mr. Suh Sung-whan, founding chairman of Amorepacific, was committed to giving back to the community by nurturing talents and achieving technological innovation. His dedication to making the company a responsible corporate citizen led to the establishment of the Sung-whan Scholarship in 1963 - the company’s first corporate social responsibility (CSR) initiative.
Mr. Suh said, “Whether it is financially sound or not, even a small business can be a good company if it makes money and at the same time gives back to the community.” This attitude towards social contribution paved the way for Amorepacific to become a responsible corporate citizen.
In line with the corporate slogan “Beauty for Humanity, Beauty for Everyone” launched in 1974, the founding chairman exhibited his dedication to giving back to the community by nurturing talents when he lead the establishment of the Pacific Scholarship and Culture Foundation in 1973, Pacific Educational Foundation in 1978 and Pacific Welfare Foundation in 1982.
With the modification of the slogan to “Beauty for Humanity, Prosperity for Everyone” in 1992, the three pillars of management philosophy – service, respect and a new future – were created in response to growing calls for social contribution. The company engaged in a variety of CSR activities including a campaign to help child breadwinners in 1992, a concert for children suffering from heart diseases in 1994, a thesis/design competition for female college students and a fundraiser for African refugees in 1995 and an event for female welfare workers and a seminar for women’s welfare in 1998.
Mr. Suh’s legacy lives on in the new millennium. Amorepacific remains committed to sharing with others through direct and indirect support for outreach programs as a leader in the cosmetics industry and a responsible corporate citizen.
The Amorepacific Foundation (formerly Pacific Academic and Cultural Foundation) sponsors academic, educational and cultural programs aimed at producing talented individuals while the Amorepacific Welfare Foundation (formerly Pacific Welfare Foundation) works for a better, more prosperous world by assisting the underprivileged in raising their quality of life.
In 2000, Amorepacific fully funded the establishment of the Korea Breast Cancer Foundation, the first non-profit organization of its kind, and has since conducted the Pink Ribbon Campaign to raise awareness about breast cancer. The year 2004 saw the launch of Hope Store, a micro credit program dedicated to helping underprivileged female breadwinners and funded entirely by the Beautiful World Fund established through the donation from the founding chairman. The Make Up Your Life Campaign launched in 2008 supports women cancer patients in their fight against distress and depression.
Competitive edge in science and technology is a must for becoming a global leader. The Amorepacific Research Institute, a home to creative and future-oriented talents dedicated to cutting-edge technologies, develops world-class products based on the principles of service, respect and a new future. I am confident it will contribute to making this world more beautiful and prosperous.- Suh Sung-hwan, founding chairman of Amorepacific
Suh Sung-hwan, founding chairman of Amorepacific believed that competitive edge in science and technology was a prerequisite to becoming a world-leading company – a belief that is seen as having paved the way for Amorepacific as it is today. In 1954, Amorepacific opened a research laboratory, the first of its kind in the Korean cosmetics industry. It started investing heavily in research in 1957 by sending its researchers to Europe and Japan so they could learn advanced technologies. The initiative later lead to the establishment of the Pacific Research Institute in 1978, Research Complex 1 dubbed Sungjigwan of the Research Center in 1992 and Research Complex nicknamed Mizium in 2010.
Amorepacific has also formed partnerships with renowned universities, research institutes and companies in Korea. In 1999, the company signed a research sponsorship deal with the Korea Institute of Science and Technology (KIST) and the medical science department of Seoul National University (SNU) and Yonsei University. In particular, Amorepacific worked with SNU on a ten-year study on the characteristics and aging of Koreans’ skin. In the year 2006, it worked with the Korean medicine department of Kyung Hee University to build the first research center dedicated to developing oriental medicine-based cosmetics in Korea.
In its research lab in Shanghai, China, the company conducts joint research with Peking University, Fudan University and Sichuan University on the characteristics of Chinese women’s skin and products that suit local climate and needs as part of its efforts to expand global collaboration in research and development.
Amorepacific also is committed to the advancement of academic community. In conjunction with the Korea Federation of Women's Science and Technology Associations, the company launched the Amorepacific Women Scientists Award in 2006 and started offering grants to young dermatological scientists in 2010 through the Amorepacific Dermatological Science Program. Since the year 2015, the company has sponsored molecular and cell biologists in their research as part of the Next-Generation Scientist Award.
The Amorepacific Foundation has funded a primate research project since 2006 while the company helped the launch of the Biodiversity Foundation in 2013 in a bid to protect the ecological system and preserve biodiversity. Amorepacific also sponsored the Women Eco-Science Forum 2013 in order to promote discussions on biodiversity and sustainable development.
- 1) Young scientists as defined by the foundation: e.g. post-doc scientists capable of conducting research independently / assistant professors (within three years of appointment) / principal researchers (within three years of being appointed as principle researcher at a research institution/organization) / others with similar qualifications