Hyundai Oilbank Selected as a Company Recognized for Community Contribution

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Oilbank announced on the 8th that it was selected as a 'Community Contribution Recognized Company' in 2020.

The 'Community Contribution Recognition System' is a program jointly hosted by the Ministry of Health and Welfare and the Korea National Council on Social Welfare to acknowledge the efforts of companies and institutions that actively contribute to revitalizing local communities and exemplary social contribution activities.

Hyundai Oilbank, located in Daesan-eup, Seosan-si, Chungnam, was recognized for its contribution to increasing the income of local farmers and fishermen. It has been highly evaluated for significantly aiding community development by sustaining local rice purchasing projects and rockfish release projects for over 10 years.

The local rice purchasing project, started in 2003, involves buying approximately 1 billion KRW worth of newly harvested rice annually from farms near the factory and distributing it to underprivileged neighbors in 15 cities and counties of Chungcheongnam-do. This project has established itself as a representative community contribution activity that supports farmers and those in need while widely promoting excellent local rice. Hyundai Oilbank also purchases sweet potatoes every year to donate to local organizations and supports crop growth stimulants to foster high-quality agricultural products to increase the consumption of local agricultural produce.

The rockfish release project has been releasing 150,000 juvenile rockfish annually into Samgilpo Port near the company since 2002 to increase fishermen's income and revitalize fishing villages. This project, initiated to help fishermen struggling with the depletion of fishery resources, has grown into a distinctive community contribution activity with participation from companies located in the Daesan Petrochemical Complex. In particular, since 2005, the 'Samgilpo Port Rockfish Festival' has been held, attracting tens of thousands of tourists every year and contributing to the revitalization of the fishing village.

A Hyundai Oilbank official said, "We are very pleased to be recognized for the various activities we have promoted to coexist with the local community," and added, "We will continue activities that provide practical help in the future."

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