GS Caltex Chairman Huh Dong-soo Establishes Scholarship Foundation in Honor of Daughter

Huh Dong-soo, Chairman of GS Caltex (Chairman of the Heo Ji-young Scholarship Foundation)

[Asia Economy Reporter Hwang Yoon-joo] Heo Dong-soo, chairman of GS Caltex, has established a scholarship foundation in memory of his youngest daughter, Heo Ji-young. Ji-young is known to have passed away recently after a battle with illness.

On the 13th, Chairman Heo established the "Heo Ji-young Scholarship Foundation" and donated 60,000 shares of GS stock. The newly established foundation was added as a special affiliate of the GS Group, and Chairman Heo serves as the foundation's representative. GS explained the reason for the change in stock status as "establishment of a foundation."

Ji-young, the youngest daughter of Chairman Heo, was revealed to have passed away at a young age through a GS stock status change disclosure earlier this year. At that time, Chairman Heo disclosed that he inherited 58,910 shares of GS stock that his daughter held.

Chairman Heo donated 60,000 shares to the Heo Ji-young Scholarship Foundation, which is more than the shares he inherited. Due to this stock donation, Chairman Heo's GS Group shareholding decreased from 1.81% to 1.75%, while the Heo Ji-young Scholarship Foundation newly acquired 0.06%.

The future activities of the Heo Ji-young Scholarship Foundation have not been specifically determined, but it is known that the focus will be on providing scholarships to students facing financial difficulties and supporting students with outstanding research achievements.

Meanwhile, Chairman Heo previously served as the chairman of the Community Chest of Korea and in 2015 donated 3 billion KRW in stocks and cash to establish the Donghaeng Welfare Foundation, a social welfare corporation. The establishment of the Donghaeng Welfare Foundation was also revealed belatedly after a disclosure.

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