Kibo Returns Former Executives' Salaries to Support Vulnerable Groups

59 Million Won Donated to Busan Social Welfare Community Chest

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jeong Yun-mo, hereinafter referred to as Kibo) announced on the 25th that Chairman Jeong Yun-mo and all former executives donated 59 million won, collected by returning part of their salaries and management evaluation performance bonuses, to the Busan Community Chest of Korea.

The donated funds will be used to support local traditional markets, small business owners, and vulnerable groups in the region who are struggling due to the novel coronavirus infection (COVID-19), typhoons, and the rainy season. 27 million won in Onnuri gift certificates will be donated to welfare facilities in the Busan area, 20 million won to the Busan Nam-gu Disabled Welfare Center, and 12 million won to a Save the Children charity event jointly sponsored by Kibo and four other organizations in the Busan area. In particular, the Save the Children sponsorship plans to sell local agricultural products such as vegetables, fruits, and grains purchased from social economy enterprises in the Busan area through a non-face-to-face charity event, and the proceeds will be used to support low-income grandparent households in the Busan area.

Chairman Jeong Yun-mo of Kibo said, "We delivered the donation with the hope of sharing the difficulties of local residents and helping overcome the crisis," adding, "We will continue to pay attention to overcoming COVID-19 and take the lead in realizing social value as a public institution."

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