Taekwang Industrial Donates 1 Billion KRW to Gimhae Future Talent Scholarship Foundation on Its 50th Anniversary

Taekwang Industrial Chairman Park Juhwan (right) is donating 1 billion KRW in scholarship funds to Heo Seonggon, Mayor of Gimhae (center).
[Image source=Gimhae City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] The Gimhae City Future Talent Scholarship Foundation announced on the 1st that Taekwang Industrial will donate 1 billion won.

To commemorate its 50th anniversary this year, Taekwang Industrial plans to donate 200 million won annually for five years from this year until 2025.

Headquartered in Gimhae, Taekwang Industrial is a shoe manufacturing company with a 50-year history since its establishment in 1971.

In the 1990s, it expanded overseas to become an international company, and since the 2000s, it has expanded its business areas mainly in Korea and Southeast Asia, including chemical, materials, leisure, and IT sectors, with companies such as Huchems, the leading domestic nitric acid producer; Jeongsan International, an advanced textile materials company; and Jeongsan Aegang, a specialized apartment piping manufacturer.

It has also consistently engaged in social contribution activities both domestically and abroad, such as operating the Jeongsan Scholarship Foundation, building the Gimhae Senior Welfare Center, and establishing a technical school in Phu Quoc, Vietnam. Taekwang Industrial stated that instead of holding a large-scale commemorative ceremony for its 50th anniversary this year, it decided to establish a scholarship fund.

Hyun Jong-won, chairman of the foundation, presented a plaque of appreciation to express gratitude.

Park Joo-hwan, chairman of Taekwang Industrial, said, "We have established this scholarship fund to nurture talents who will be the future leaders in order to grow and develop together with the local community," adding, "We will continue to strive in social contribution activities so that our students can achieve their dreams in a better environment."

Mayor Heo Seong-gon said, "Based on this scholarship fund, the city and the foundation will work harder to establish a more systematic and comprehensive scholarship support system so that local students can overcome difficult situations and focus on their studies."

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