Ssangyong Cement Purchases 840 Million Won in Local Gift Certificates to Support 'Regional Economic Revitalization'

Ssangyong Cement purchased and delivered local love gift certificates worth 840 million KRW to revitalize the local economy. Shim Gyu-eon, Mayor of Donghae (left), and Won Yong-gyo, Manager of Ssangyong Cement Donghae Plant. Photo by Ssangyong Cement

[Asia Economy Reporter Kim Jong-hwa] Ssangyong Cement has rolled up its sleeves to revitalize the local economy, which has been stagnant due to the impact of the novel coronavirus disease (COVID-19).

On the 17th, Ssangyong Cement purchased and distributed regional love gift certificates worth a total of 840 million KRW, giving 1 million KRW each to employees in the areas where its cement production plants are located (Donghae City, Yeongwol County, and Samcheok City in Gangwon Province).

The distributed regional love gift certificates can be used at traditional markets, restaurants, bookstores, and academies in the respective regions, and 10% of the amount spent by individuals is accumulated as points, effectively resulting in a consumption effect of 1.1 million KRW.

In November, Ssangyong Cement successfully completed a production innovation investment project worth about 100 billion KRW over two years to expand the use of recycled resources. While considering ways to encourage employees at the production plants, the company devised a plan to help small business owners and self-employed individuals in the affected areas who are struggling due to the recent increase in social distancing levels. The decision to provide regional love gift certificates to production plant employees was made with the intention of practicing kind consumption without franchise fees and revitalizing the stagnant local economy.

Ssangyong Cement has also regularly purchased agricultural and marine products produced locally to distribute to employees and has practiced using local restaurants and shops to help activate the local economy.

A Ssangyong Cement official said, "Now, when everyone is struggling due to COVID-19, it is the right time for companies to practice sharing that can coexist with the local community," adding, "We will continue to take the lead in revitalizing the local economy through various social contribution activities in cooperation with the region."

Meanwhile, Ssangyong Cement recently supported the local community with quarantine supplies such as masks and hand sanitizers, as well as emergency disaster relief funds to prevent the spread of COVID-19.

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