"Reflecting on Slavery, Correcting Historical Wrongs" Harvard University Establishes $100 Million Fund

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Harvard University, a prestigious Ivy League institution in the United States, announced on the 26th (local time) that it will establish a fund of $100 million (approximately 125.5 billion KRW) to reflect on its history linked to slavery.

According to the Wall Street Journal (WSJ) and others, Harvard President Lawrence Bacow stated in an email sent to students and faculty on the 26th (local time) that the fund will be used to address educational, social, and economic disparities resulting from the legacy of slavery and racial discrimination.

This announcement is linked to a 134-page report published by the "Harvard and the Legacy of Slavery Committee."

The report, revealed by President Bacow in the email, pointed out that although slavery was banned in Massachusetts during Harvard's founding period from 1636 to 1783, the university enslaved more than 70 Black individuals and subsequently profited from the slave trade and related businesses. It also mentioned that even in the 1900s, Harvard accepted scholars who excluded Black students and advocated racial discrimination.

The committee, led by legal historian and constitutional expert Professor Tomiko Brown-Nagin, recommended through this report that Harvard establish a legacy fund for the descendants of these enslaved people and provide educational and other support. The New York Times (NYT) estimated that these descendants number around 50,000.

Additionally, the committee recommended partnerships with Historically Black Colleges and Universities (HBCUs). This includes creating summer programs for HBCU students to attend and sending Harvard students and faculty to these Black colleges.

President Bacow said, "Slavery and its legacy have been part of American life for over 400 years, and Harvard has benefited to some extent from very immoral enduring practices. We need sustained and ambitious efforts over the coming years to further rectify the ongoing impacts."

Previously, other American universities such as Brown University, Georgetown University, and Princeton Theological Seminary also reflected on slavery issues and announced financial support to correct their pasts.

This content was produced with the assistance of AI translation services.