SK E&S Overcomes COVID-19 Crisis with 'Shared Growth Vaccine' Alongside Local Communities

[Asia Economy Reporter Hwang Yoon-joo] SK Group's eco-friendly energy company SK E&S is expected to contribute to overcoming the novel coronavirus infection (COVID-19) through 'co-prosperity' with local communities.

On September 23, SK E&S announced that it signed a business agreement at the SK Seorin Building with the Foundation for Large and Small Enterprises and Agricultural and Fisheries Cooperation (Cooperation Foundation) to promote the "Local Community COVID-19 Overcoming Support Project" utilizing the co-prosperity cooperation fund. At this event, SK E&S decided to support the local community with approximately 4 billion KRW worth of co-prosperity cooperation funds through the Cooperation Foundation.

The co-prosperity cooperation fund is a resource voluntarily contributed to the Cooperation Foundation by private companies and public institutions for co-prosperity cooperation with small and medium-sized enterprises (SMEs). Companies that donate to the fund can receive benefits such as corporate tax credits from the government.

This local community COVID-19 overcoming support project is the first nationwide support project conducted by a private company in partnership with the Cooperation Foundation. SK E&S directly selects the supported companies, while the Cooperation Foundation reviews and executes the use of the funds.

In the current situation where the crisis among SMEs and small business owners is unprecedentedly heightened due to the COVID-19 impact, SK E&S includes not only its partner companies but also social enterprises and small business owners within its business area as support targets, providing co-prosperity cooperation funds worth approximately 4 billion KRW to a total of 165 companies.

Through this support project, wages for workers will be supported in September for 62 partner companies in 10 regions and 22 local companies that are struggling due to the prolonged COVID-19 situation.

Additionally, SK E&S selected 32 good small business owners and 49 social enterprises that have consistently contributed to the local community through donations of goods and money, volunteer activities, and employment of vulnerable groups despite the extremely difficult situation compared to the previous year. Rent was prioritized and paid on the 14th to small business owners urgently needing support due to the recent strengthening of social distancing, and labor costs for social enterprises will be paid within this month.

SK E&S's decision to support local small business owners and social enterprises without direct business transactions with the company is based on the judgment that true co-prosperity is possible only when the competitiveness of local economic actors is strengthened. This aligns with Chairman Chey Tae-won's recent emphasis that companies should act as a safety net for stakeholders in crisis situations like COVID-19, urging affiliated companies to actively prepare and implement ways to coexist with local communities.

Meanwhile, key officials including Koo Hyun-seo, Head of the SV Promotion Headquarters at SK E&S, and Guk Shin-wook, Head of Planning and Coordination at the Foundation for Large and Small Enterprises and Agricultural and Fisheries Cooperation, attended the signing ceremony.

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