Hanwha Group Donates 1 Billion KRW for Flood Damage Recovery Fund
[Asia Economy Reporter Hwang Yoon-joo] Hanwha Group will donate 1 billion KRW to support the recovery of areas affected by the prolonged heavy rains.
On the 11th, Hanwha Group decided to donate 1 billion KRW to the Hope Bridge Korea Disaster Relief Association to help residents affected by the heavy rains quickly return to their daily lives. The donation will be used for disaster relief supplies and recovery efforts in flood-affected areas. Six affiliates, including Hanwha Corporation, Hanwha Total, Hanwha Construction, Hanwha Solutions, Hanwha Life Insurance, and Hanwha General Insurance, participated in this donation.
In addition to the donation, Hanwha Group’s financial affiliates, Hanwha Life Insurance and Hanwha General Insurance, will provide additional financial support to affected customers. For customers impacted by the heavy rains, they will implement a six-month grace period for insurance premium payments and loan principal and interest repayments. Furthermore, the accident insurance claim procedures and documentation will be simplified, and insurance payments will be expedited.
Employees will also contribute. About 100 employees working at business sites in the Chungcheong region plan to visit rural villages in Chungnam affected by flooding next week to assist with the removal of submerged facilities and other recovery work.
Meanwhile, Hanwha Group practices shared growth management with local communities by supporting disaster victims and socially marginalized groups during floods, wildfires, earthquakes, and other incidents, helping to overcome difficult economic situations.
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In 2017, Hanwha donated 1 billion KRW to support recovery from the earthquake damage in Pohang, Gyeongbuk. In 2019, it donated 500 million KRW for recovery from wildfires in Gangwon and 3 billion KRW for year-end aid to underprivileged neighbors. This year, to overcome the COVID-19 crisis, Hanwha Life Insurance provided its training center as a residential treatment facility and purchased and donated various quarantine supplies.
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