Hanssem founder’s dream of an independent think tank

Cho Chang-gul, founder of Korea's furniture maker Hanssem, introduced the concept of Western kitchen and dining furniture to Korea in 1970 when a sink was the only piece of furniture in a Korean kitchen, changing the concept of a kitchen, which used to be only for a housewife, to space for family members. Forbes said that Cho is a rare self-made rich man in Korea, but he is paid least among the company’s five registered board directors. The 77-year-old man does not think that he should be paid more just because he is the founder.

He launched Thursday a research foundation named Yeosijae (meaning a house changing with the times), which is a new challenge both to him and to Korea. It is more like an eccentric behavior in that he spends personal money for creating a think tank, which can criticize the reality with objective views, unlike other private think tanks producing reports currying favor with the government and companies. People around him could not stop him from making a reckless attempt that could be out of the government’s favor.

The U.S. was in shock after the New York Times recently reported that the Brookings Institute gave a draft report to companies and reflected their opinions in its final report. If a think tank is used to increase the influence of companies and serves as a tool for a brand campaign, it will not be a think tank but a part of the “ideology industry.” Brookings refuted that it was a malicious news article with a preconceived conclusion, but it could not hide the shameful truth.

Mr. Cho decided to donate half of his stocks or 2.6 million stocks (worth 440 billion won or 339 million U.S. dollars) to Hanssem DBEW, an in-house research entity, in March last year in phases, and donated 600,000 stocks (worth 100 billion won or 90.83 million dollars) first. He admitted that the structure has limitations as the entity has to care about companies for its research, and step down from the post as a board member in Yeosijae. He appointed former deputy prime minister Lee Hun-jai as the chairman of the board, whom he got to know from a study group and gave authority over all researches. The think tank’s board is a dream team consisting of Kim Hyun-chong, a former ambassador to the United Nations, Kim Do-yeon, a former education, science and technology minister, Ahn Dae-hee, a former chief supreme court judge, and Park Byeong-yeop, a former vice president of Pantech. The next step for the financially independent think tank is to grow into a think tank that can represent Korea with a politically independent voice.