Ahn Cheol-soo to donate 150 billion won

By Lee Tae-hoon

Ahn Cheol-soo, a medical doctor-turned-IT tycoon, expressed his intention Monday to donate half of his stocks in AhnLab, the country’s biggest anti-virus software firm that he founded in 1995, to further children’s educational opportunities.

The 49-year-old-computer expert is known to own 37.1 percent of AhnLab shares, currently worth 302.4 billion won ($269 million).

Political pundits say this may be construed as a sign that the media-shy-IT-mogul is gearing up for a presidential bid, forestalling criticism that he has accumulated a large portion of wealth by stock ownership.

“I’d like to put a small resolution that I have long planned into practice,” he said in an email that he sent to employees of the IT-firm. “I plan to use about half of my stocks in AhnLab for society.”

Independent lawmaker Kang Yong-seok and some ruling party lawmakers have harshly criticized Ahn over a sudden surge in AhnLab’s stock price, which has nearly tripled in value after rumors abounded that he would run for Seoul mayor on Sept. 1.

Some Grand National Party (GNP) Assemblymen have criticized him for receiving 10.4 billion won in dividends from AhnLab since 2004, despite having distanced himself from management of the company after resigning as CEO in March 2005.

Ahn currently serves as chairman of the company's board of directors and is the dean of Seoul National University’s Graduate School of Convergence Science and Technology.

Ahn became an overnight political sensation shortly after allegedly expressing his interest in running in the Oct. 26 by-election, before later bowing out and supporting lawyer-turned-activist Park Won-soon.

Polls show that he would beat Park Geun-hye, the leading presidential contender of the governing GNP, or any other presidential hopefuls.

However, he urged people not to link his donation to any political ambitions.

“There is no other hidden motive,” he said in the email. “It is nothing more or less than fulfilling what I decided to do a long time ago.”

The IT guru noted that he wants the money to be used to give dreams and hope to underprivileged children.

“I will humbly accept the opinion of many people on how to use it in the most meaningful way, but I hope the money will be spent for the education of children from low income families,” he said.

Ahn added that he made the decision as he believes corporations have social responsibilities and it was the right time for him to put a sense of “noblesse oblige” into action.

Ahn is widely popular, especially among voters in the 20s through 40s, due largely to his clean and upright image.