Shinhan Financial Group Provides Medical Equipment and Supplies Worth 200 Million KRW to India in Partnership with KOICA

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Group announced on the 31st that it will provide medical equipment and supplies worth a total of 200 million KRW to India, which is struggling due to the massive spread of COVID-19.

Since 2019, Shinhan Financial has been conducting emergency relief projects related to overseas disasters and calamities as part of a public-private cooperation project with KOICA (Korea International Cooperation Agency), including support for Nepal's monsoon typhoon damage and emergency relief activities related to COVID-19 in the Philippines.

India is the country most affected by COVID-19, but due to a shortage of medical supplies such as hospital beds and oxygen respirators for COVID-19 treatment, community infections centered on low-income households are gradually spreading.

Accordingly, Shinhan Financial decided to provide 200 million KRW to help stabilize India quickly, and plans to carry out local procurement of supplies and relief activities together with World Vision and Habitat for Humanity Korea, cooperating organizations of KOICA.

In particular, to secure the most urgent medical liquid oxygen and prepare hospital beds, they plan to support oxygen concentrators and the construction of temporary patient accommodation facilities at COVID-19 medical facilities located in Mumbai and other areas. Medical equipment and supplies necessary for treatment will be delivered to areas where COVID-19 is rapidly spreading, such as Kanchipuram.

Additionally, Shinhan Financial will continuously prepare various support measures to stabilize the COVID-19 situation by utilizing local networks such as Shinhan Bank's India headquarters.

Cho Yong-byeong, Chairman of Shinhan Financial Group, said, "I hope this support will help India overcome the COVID-19 crisis even a little," and added, "We will continue to fulfill our corporate social responsibility through humanitarian support such as emergency relief activities for regions experiencing disasters and calamities worldwide."

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