Asan Nanum Foundation

The Asan Nanum Foundation (Korean: 아산나눔재단) is a South Korean nonprofit organization established in 2011 in honor of Chung Ju-yung, the founder of Hyundai Group.^[1] The foundation is headquartered in Jung District, Seoul, South Korea,^[2] and focuses on promoting entrepreneurship education.^[3]

Asan Nanum Foundation

아산나눔재단
Formation	October 2011; 13 years ago (2011-10)
Type	Nonprofit organization
Location	Seoul, South Korea
Chairman	Eom Yoon-mi
Honorary chairman	Chung Mong-joon
Website	asan-nanum.org

As of 2024, the foundation has facilitated the formation of ₩2.1 trillion (approximately $1.6 billion USD) in funds.^[1] It has three startup incubation facilities — Maru 180 and Maru 360 in Yeoksam-dong and Maru SF in San Mateo.^[4]

History

The Asan Nanum Foundation was established in October 2011 to commemorate the 10th anniversary of the death of Hyundai Group founder Chung Ju-yung.^[1][5] "Asan" is Ju-yung's art name.^[6] The foundation's initial funding was primarily provided by various companies in the Hyundai conglomerate and Chung Mong-joon.^[7]

In 2012, the foundation established the Chung Ju-yung Angel Investment Fund with an initial capital of ₩100 billion ($75 million USD).^[1] With entrepreneurship competitions,^[8] the flagship fund invests in startups alongside angel investors, accelerators, and venture capitalists.^[9][10]

The foundation launched startup incubation centers Maru 180 in April 2014 and Maru 360 in November 2021.^[11][12]

In December 2024, the foundation announced Maru SF, a San Mateo, California-based facility, to support Korean startups expanding into the United States.^[5]