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Conglomerates team up to support rain victims
Samsung, SK, Hyundai, LG donate a combined W10bBy Kan Hyeong-woo
Published : July 20, 2023 - 15:06
South Korea’s leading conglomerates and business groups have donated 19 billion won ($15 million) as part of relief and recovery efforts for the victims of the recent monsoon rains which caused flooding and landslides in many parts of the country.
Korea's four largest groups, Samsung, Hyundai Motor, SK and LG, led the charge Thursday in raising financial support for those most affected by the downpours with a combined donation of 10 billion won.
Samsung Group announced a 3-billion-won relief fund as eight affiliates took part in the donation, including Samsung Electronics, Samsung Display and Samsung SDI. In addition to financial support, Samsung has been carrying out other on-site support efforts such as donating goods and conducting free maintenance work on damaged home appliances.
Hyundai Motor Group donated 3 billion won and dispatched three buses equipped with laundry machines, as well as a bus designed to support a comfortable rest and recovery space for victims and relief workers. Hyundai Motor is also offering a free checkup for vehicles in affected regions and a discount of up to 50 percent for repair services.
SK Group and LG Group each vowed to donate 2-billion-won as they expressed their will to continue to provide support along the path to recovery for victims. SK Telecom and SK Broadband have set up telecommunication support booths and internet protocol televisions to provide Wi-Fi services at temporary shelters, while LG Household and Health Care plans to offer toothbrushes, toothpaste, shampoo and body wash to the displaced.
Posco Group also announced a 2-billion-won donation. Posco’s steel plant in Pohang will donate relief goods worth about 50 million won to North Gyeongsang Province, one of the areas most affected by the monsoon rains.
Lotte Group and Hanwha Group each contributed 1 billion won to assist rebuilding and restoration activities in flooded regions and to support relief efforts. Lotte’s retail affiliates donated drinking water, instant cup noodles and snacks for 4,000 people. Hanwha Life Insurance and Hanwha General Insurance said they will suspend insurance fees and loan repayments for six months for customers affected by the torrential rains.
Moreover, 10 firms -- Celltrion Group, CJ Group, Doosan Group, HD Hyundai, Hyundai Department Store Group, Kakao, KT&G, LS Group, Mirae Asset Financial Group and Naver -- chipped in 500 million won each to support victims across the country.
Most of the donations from the business sector are being handled by the Hope Bridge Korea Disaster Relief Association.
According to the Center Disaster and Safety Countermeasures Headquarters, there have been 2,278 cases of public and private property damage as of 6 a.m. Thursday. Nearly 3,200 people have been displaced. Over 32,000 hectares of farmland, about the same size as half of Seoul, have been flooded. The torrential downpours have led to 46 deaths and four missing persons. The heavy rain also has killed almost 800,000 livestock nationwide.
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