Bae & Choi Foundation

Bae & Choi Foundation is intended to serve as a conduit for the charitable gifts of its founders, Sungwon Bae and Yoonjung Choi, both of whom were born and raised in S. Korea and immigrated to U.S, and strongly believes that this corporation can serve to enhance charitable activities in both S. Korea and U.S.

This corporation is organized exclusively for charitable, educational, and scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code (or the corresponding section of any future federal tax code).

The specific purposes of the corporation include, but are not limited to:

- Supporting charitable activities aligned with the family’s philanthropic mission.

- Making grants to qualified nonprofit organizations recognized under Section 501(c)(3).

- Enhancing education in S. Korea by grants to public charities that support either individuals or educational institution, or by other similar charitable education activities, without making taxable expenditures, as articulated in IRS Section 4945.

- Engaging in activities that enhance charitable, educational, and scientific objectives consistent with the requirements of a private foundation under Section 509(a) of the Internal Revenue Code.