Samsung Donates 50 Billion KRW in Neighborly Love Fund Ahead of Year-End

On the 1st, Sung Danhee, President of Samsung Social Contribution Business Division (center), and Cho Heungsik, Chairman of the Community Chest of Korea (third from the left), held a year-end neighbor love donation ceremony at the Community Chest of Korea building. (Photo by Samsung)

[Asia Economy Reporter Jeong Hyunjin] Samsung donated 50 billion KRW in year-end Neighbor Love funds to the Community Chest of Korea on the 1st.

On this day, Samsung held a year-end Neighbor Love fund donation ceremony at the Community Chest of Korea building located in Jung-gu, Seoul, attended by Sung In-hee, President of Samsung Social Contribution Division, Cho Heung-sik, Chairman of the Community Chest of Korea, and representatives of Samsung Electronics employees. At the donation ceremony, President Sung said, "I hope the unwavering cooperation between Samsung and the Community Chest will greatly help the underprivileged in our society."

This year’s year-end Neighbor Love funds were contributed by Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung SDI, Samsung SDS, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, Samsung Securities, Samsung Asset Management, Samsung C&T, Samsung Engineering, Cheil Worldwide, S-1, Samsung Bioepis, and Samsung Economic Research Institute. The number of affiliates participating in the year-end Neighbor Love fund donation increased from 13 last year to 16 this year, with each company undergoing its own external donation approval process.

To support socially vulnerable groups, Samsung has so far donated a total of 720 billion KRW to the Community Chest of Korea. The donated funds will be used in various areas such as youth education support, medical support for vulnerable groups, and welfare enhancement for people with disabilities.

Additionally, Samsung plans to purchase 310,000 copies of next year’s calendar jointly produced with eight NGOs including UNICEF, Blue Tree Foundation, Korea Life Line, Environment Foundation, and the Movement for the Disabled First, and provide them to its employees. Samsung explained that since 2019, it has not produced its own New Year calendars but has utilized calendars made in partnership with NGOs.

The joint NGO calendar production involved 15 affiliates including Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung SDI, Samsung SDS, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, Samsung Securities, Samsung Asset Management, Samsung Biologics, Samsung Bioepis, Cheil Worldwide, Wellstory, and Samsung Economic Research Institute.

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