Chairman Byung-Kwan Kim(Pen name: Hwajeong July 24, 1934 ~ February 25, 2008) was a businessman who upheld the tradition and honor of the press as well as contributor to democratization of Republic of Korea.

Hwajeong had a keen interest in affairs such as peace on the Korean Peninsula and Northeast Asia as South and North Korea remained divided.

In October 1998, he visited North Korea with a team of Dong-A Ilbo reporters to discuss inter-Korean exchange issues, which was the first as a newspaper executive in the Republic of Korea.

At the time, Hwajeong said, "Taking the opportunity of this visit to North Korea, we will do our part as a bridge narrowing the gap between the two Korea, serving as 'the organization of representation for the nation,' one of the founding spirit of Dong-A Ilbo.

In order to put that commitment into practice, in 2000, Hwajeong devoted his private fortune of 1 billion won to set up the Hwajeong Peace Foundation·21st Century Peace Institute. In addition, he devoted additional private fortune of 200 million won in his late years.

Hwajeong's desire to bring peace to the Korean Peninsula and the Northeast Asia became the basis for activities of the foundation.