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KASF aims to raise $10 million by 2020

April 15, 2014

Korean American Scholarship Foundation gave $620K to 260 students last year

The KASF conference, from April 11 to 13, was attended by more than 100 directors of the board from Los Angeles, New York, Washington, D.C., Chicago, Atlanta, Houston and Detroit and held at the Oxford Palace Hotel in Los Angeles.

By Goo Sung-hoon and Tae Hong

The Korean American Scholarship Foundation, the largest organization of its kind, has begun a fundraiser to meet its goal of $10 million in scholarship money by 2020.

The KASF held a conference from April 11 to 13 to discuss promotion of the goal and the strengthening of the network of Korean Americans. It was attended by more than 100 directors of the board from Los Angeles, New York, Washington, D.C., Chicago, Atlanta, Houston and Detroit and held at the Oxford Palace Hotel in Los Angeles.

In the last year, the KASF has given $620,000 to 260 students in scholarships, according to Augie Lee, national chairman of the board of directors.

He said the organization plans to start a fundraising campaign to reach the $10 million goal in order to accommodate the growing number of high-achieving students who apply for scholarships.

“Despite its 45-year history, the reality is that many Korean Americans don’t know about KASF,” Lee said. “We’ll work toward informing the Korean community about available scholarships and bring directors with influence onto our board.”

One notable donor so far has been Dr. Lee Sang-nam, who donated $100,000 to the fund, said Kim Yong-hwe, national vice chairman of the board.

The former national chairman of the board gave $10,000 in cash and has designated the sum of his life insurance upon his death — $90,000 — to the organization. The money will go toward the “Lee Sang-nam Scholarship.”

Another donor is Neo Blue, a jean company based in downtown L.A. It gave $10,000 to the fund last year in July.

The KASF grants $2,000 scholarships to Korean American high school and college students based on five qualifications: financial needs, school grades, community service, recommendation letters and personal essays.

The conference was sponsored by The Korea Times. For more information on KASF, visit www.kasf.org.