Late Jeong Sang-young, Honorary Chairman of KCC, Donates 200 Billion KRW Estate

The late Jeong Sang-yeong, Honorary Chairman of KCC.
[Photo by KCC]

[Asia Economy Reporter Lee Junhyung] KCC announced on the 1st that it will return stocks and tangible assets worth 200 billion KRW from the legacy of the late Honorary Chairman Jeong Sangyoung to society.

The bereaved family of the late Honorary Chairman Jeong, including Jeong Mongjin, Chairman of KCC, and Jeong Mongik, Chairman of KCC Glass, will donate 10 billion KRW to Minjok Leadership Academy. Part of the donation will be awarded as scholarships to low-income and highly talented students. The donation will also be used to expand infrastructure such as discovering gifted individuals in various fields, developing educational programs, and providing advanced scientific educational equipment and materials.

Additionally, the bereaved family will donate assets and tangible items worth 200 billion KRW to the Seojeon Cultural Foundation. The donation, which includes 150 billion KRW from the late Honorary Chairman Jeong’s legacy and land and personal belongings in Naegok-dong, Gangnam-gu, Seoul, donated by Chairman Jeong of KCC, will be used to build and operate a specialized audio equipment museum. According to KCC, this museum is expected to become a new sanctuary in the city by introducing analog experiences to the general public through audio.

A KCC official said, "The late Honorary Chairman Jeong repeatedly emphasized during his lifetime that ‘industrial patriotism,’ which means being faithful to the basics and contributing to national development, is the essence of a company," adding, "We will continue various social return projects in accordance with this will.”

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