Background
New was born in 1895 in Pyongyang among nine brothers and sisters, and emigrated to the United States at the age of 9.
柳一韓
New was born in 1895 in Pyongyang among nine brothers and sisters, and emigrated to the United States at the age of 9.
He founded Louisiana Choy Food Products, Incorporated. and Yuhan Company, Limited. His original Korean name was Ilhyeong New. In America he gained a degree from the University of Michigan and founded Louisiana Choy Foods in 1920.
New returned to of Korea in 1926, where he established the under the notion that “Only healthy people can reclaim their sovereignty.” Believing that it was the duty and responsibility of a business to develop itself for the prosperity of all of society, New traded Yuhan in the stock exchange for the first time in the Korean pharmaceutical industry and started a programme of employee ownership.
He was involved in the establishment of Mangho-Kun and participating in the NAPKO Project, the Country reclamation operation initiated by the United States Office of Strategic Services. In 1943, he authored a booklet entitled "of Korea and the Pacific War" which was based on a report he prepared for the Office of Strategic Services (Office of Strategic Services).
He also founded several schools. When he died at the age of 77, he contributed all his wealth to the public foundation named the Korean Society and Education Aid Trust Fund.
Jae-Ra New, Il-han New’s first-born daughter, also contributed her entire fortune to a Korean public foundation named the Yuhan Foundation when she died in 1991.
The Yuhan Foundation and Yuhan School he founded are active in a variety of public welfare activities, scholarship programs and education for students. These activities are supported by the ’s high dividend policy.