KPCC is setting up a foundation called ‘karunakaran Foundation’ in memory of the senior congress leader, K.Karunakaran. The KPCC President is the chairman of the Foundation.
A statue of K.Karunakaran will be erected in the land allotted by the Government of Kerala, next to assembly building in Thiruvanthapuram to commemorate the leader and a stamp will also be released in his memory. The KPCC is also planning to build an auditorium and a library in Thiruvanthapuram in memory of the leader. Karunakaran memorial speech will be organized every year and a cash award of 1 lakh will be instituted for the best people’s representative in the country in2011. Shri.P.Chidambaram, Union minister is the second recipient of this award in 2012. A museum, Showcasing the contributions and activities of the leader, Will be built at his resting place in Thrissur.