The Korea Sanhak Foundation was founded on March 30, 1974 by the Korea International Trade Association and its member firms as a cooperative arrangement for the business and academic communities and workers with a view to promoting Korea's economic development. 1974. 3. 30 Establishment of the Korea Sanhak Foundation. Chairman Hwal Lee served three consecutive terms. 1982. 11. 1 Chairman Byung-Hyun Shin was inaugurated as the fourth chairman. 1983. 11.10 Chairman Duck-woo Nam was elected as the fifth chairman and served four consecutive terms 2007. 2. 24 Chairman Hee-Beom Lee was elected as the tenth chairman 2009. 3. 18 Chairman ll-Sakong was elected as the eleventh chairman   The initial endowment of 2,600 million won has been increased to 14,800 million won. (Approximately 13 million US Dollars as of 2010)   Fruit of the endowment(interest profit),business earnings(income from dividends and rents) and other miscellaneous incomes.