The Samil Foundation was

established in 1966 by the late Chairpersons Lee Jeong-lim and Lee Jeong-ho, who founded Korea Petrochemical Ind. Co., Ltd.
The Samil Foundation has operated the three major projects including the Samil Prize, the Samil Scholarships and the financial supports for the welfare service organizations to preserve and hand down the spirit of the March 1st (Samil) Movement thus contributing to Korea’s academic, cultural prosperity and industrial development.
In over almost 6 decades since its inception, the Samil Foundation has been primarily funded by the same founding corporation, K.P.I.C, which is now succeeded and operated by Chairman Lee Soon Kyu.