KT&G-Korea Mecenat Association Sign Business Agreement for 'Meeting of Business and Art A&B Partnership Project'

Annual Cumulative Donation Amount of the ‘KT&G Sangsang Fund’

[Asia Economy Reporter Seungjin Lee] KT&G and the Korea Mecenat Association announced on the 22nd that they have signed a joint business agreement to promote the ‘Meeting of Business and Art A&B (Art&Business) Partnership Project,’ which aims to revitalize local culture and arts and support young artists.

To commemorate the 10th anniversary of the employee donation fund ‘Sangsang Fund,’ KT&G donated 300 million KRW raised through the ‘Sangsang Fund’ to the Korea Mecenat Association.

According to this business agreement, the two organizations will jointly promote concerts and exhibitions targeting culturally underserved areas and support creative activities of local young artists by utilizing the ‘Sangsang Fund’ resources. In particular, they plan to establish a cooperative system aimed at revitalizing local community culture and arts and discovering and nurturing young artists.

Launched in 2011, the ‘Sangsang Fund’ is KT&G’s unique social contribution fund, where employees voluntarily donate a certain amount of their monthly salary, and the company matches the same amount in a ‘matching grant’ format. This fund has been used to support underprivileged groups domestically and internationally and to address urgent social issues, with an annual operating scale of about 4 billion KRW. Since the establishment of the ‘Sangsang Fund,’ KT&G has donated approximately 32 billion KRW over the past 10 years to domestic and international disaster relief and support projects for underprivileged groups.

KT&G and the Korea Mecenat Association plan to hold ‘Sangsang Fund Cultural Sharing’ performances and exhibitions from August to December at ‘KT&G Sangsangmadang,’ a complex cultural and artistic space located in Hongdae, Nonsan, Chuncheon, Daechi, and Busan. Young musicians who wish to participate in the ‘Sangsang Fund Cultural Sharing’ performances can download the application form from the KT&G Sangsangmadang website and submit it via email from the 26th until August 3rd. Twenty selected musicians will receive a support fund of 1 million KRW and opportunities to perform jointly with established musicians.

Shim Young-ah, Head of KT&G’s Social Contribution Office, said, “To commemorate the 10th anniversary of the ‘Sangsang Fund,’ we have launched the ‘Meeting of Business and Art A&B Partnership Project,’ which can provide practical support in the field of culture and arts.” She added, “We will continue to contribute to the development of the cultural and artistic ecosystem and expand support for artists through various cultural contribution projects.”

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