LG Household & Health Care Provides COVID-19 Disaster Relief Funds to Household Goods Retailers

[Asia Economy Reporter Seungjin Lee] LG Household & Health Care will provide a total of approximately 522 million KRW in disaster recovery support funds to household goods agencies nationwide, whose business environment has deteriorated due to the prolonged COVID-19 pandemic.

As part of sharing the pain caused by COVID-19, LG Household & Health Care will provide 1 million KRW in disaster recovery support funds per household goods agency within this month. Currently, there are 116 household goods agencies trading with LG Household & Health Care nationwide, and a total of 116 million KRW will be supported.

Separately, LG Household & Health Care will also support labor costs of 400,000 KRW per employee working at the household goods agencies, totaling approximately 131 million KRW. Additionally, to support easy and convenient business activities of the household goods agencies, smart terminals will be provided. The total cost for purchasing the terminals is 275 million KRW, and they will be distributed free of charge to each agency by August.

Earlier, LG Household & Health Care implemented a win-win incentive system for household goods agencies in April and June, providing a total of 970 million KRW. LG Household & Health Care plans to establish a 5.7 billion KRW fund for mutual growth by the end of this year and continue various win-win cooperation activities targeting agencies and partner companies.

An LG Household & Health Care official said, “Due to the high-intensity social distancing measures, economic activities have contracted, worsening the business environment of frontline agencies,” adding, “We will share the pain with our partner companies as companions for mutual growth and build long-term partnerships.”

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