Tag: philanthropy

  • Ralph Lauren Partners with Korea National Cancer Center for 2028 Facility

    Ralph Lauren Partners with Korea National Cancer Center for 2028 Facility

    Ralph Lauren will open its first Asian cancer recovery facility in Goyang, South Korea, in 2028 through a partnership with the Korea National Cancer Center Foundation.

    This project extends the New York-listed luxury group’s philanthropy into South Korea. Government registry figures show more than 2.7 million people in the country live with or beyond cancer.

    Inside the Goyang facility

    Plans place the Ralph Lauren Center for Patient and Family Recovery inside the Phase II Proton Therapy Center at the National Cancer Center’s new Innovative Cancer Research Center. The facility will provide recovery rooms, psychological counseling, family education and social welfare support for proton therapy patients.

    Funding flows through Pink Pony, Ralph Lauren’s global oncology initiative founded in 2000. That program currently supports 38 beneficiary projects across 17 countries. The company has funded local cancer programs in South Korea since 2012, but the Goyang project is its first physical center in the region.

    Cancer care should extend beyond treatment itself to helping patients return to their daily lives and improve their quality of life.

    Han-Kwang Yang, president of the National Cancer Center of Korea and chairman of the Korea National Cancer Center Foundation, noted that proton therapy requires extended care. Those long treatment cycles place heavy emotional demands on families, making non-clinical support spaces essential.

    Luxury philanthropy across Asian markets

    Global apparel and luxury houses have shifted corporate giving in North Asia away from generic sponsorships toward long-term civic infrastructure. For luxury groups operating in Seoul’s department stores and duty-free corridors, institutional healthcare partnerships build local goodwill. Transactional marketing cannot match that standing.

    The Goyang facility mirrors Ralph Lauren’s healthcare network in the West. That roster includes facilities at Memorial Sloan Kettering in New York, Georgetown University in Washington, USC Norris in Los Angeles, the University of Chicago and the Royal Marsden in Britain. Adapting that model to East Asia tests whether Western lifestyle brands can anchor specialized public health infrastructure in state-run Asian medical institutions.

    Building out regional healthcare commitments

    Overseas, the retailer recently established the UChicago Medicine Ralph Lauren Center in the United States as part of a wider run of foundation grants. In South Korea, the National Cancer Center has operated under the Ministry of Health and Welfare since 2000. The agency serves as the central coordinator for nationwide oncology research, clinical practice and patient screening.

    Construction on the broader Innovative Cancer Research Center is underway in Goyang. When the complex opens in 2028, the Ralph Lauren facility will begin welcoming proton therapy patients and their families.

  • BNP Paribas Boosts Philanthropy Efforts with New Donor-Advised Fund Platform in Asia

    BNP Paribas Boosts Philanthropy Efforts with New Donor-Advised Fund Platform in Asia

    BNP Paribas Wealth Management has bolstered its philanthropic operations by unveiling a new donor-advised fund (DAF) platform in Asia. The platform, dubbed the “BNP Paribas Bridge Foundation,” is dedicated to assisting Asian entrepreneurs, affluent individuals, and family-run enterprises seeking a robust, well-governed method for conducting philanthropic activities.

    The Foundation operates within the framework of Singapore’s financial and legal system, supervised by a governance board comprising both internal and external professionals. The team’s expertise spans philanthropy, impact investing, and the Asian charitable sector.

    A DAF is a specialized structure intended for philanthropic contributions. Its primary advantages include potential tax benefits and the retention of advisory rights.

    The rise of philanthropy as a key aspect of the entrepreneurial journey in Asia is notable, shifting the focus from wealth accumulation to creating a lasting legacy. The Bridge Foundation caters to this vision by offering a secure and efficient platform for philanthropic donations, adhering to the highest standards of governance and compliance. Arnaud Tellier, BNP Paribas Wealth Management’s CEO in Asia-Pacific, emphasized this point in his remarks on the launch.

    Questions & Answers

    What is the BNP Paribas Bridge Foundation?
    The BNP Paribas Bridge Foundation is a newly launched donor-advised fund platform in Asia by BNP Paribas Wealth Management. It aims to assist Asian entrepreneurs, high net worth individuals, and family offices in their philanthropic activities.

    What are the advantages of a donor-advised fund (DAF)
    A DAF is a vehicle specifically designed for charitable giving. The main benefits include potential tax advantages and the retention of advisory privileges.

    How does the BNP Paribas Bridge Foundation operate?
    The Foundation operates within the framework of Singapore’s financial and legal system. It is governed by a board consisting of both internal and external professionals with experience across philanthropy, impact investing, and the Asian charitable sector.