‘SNT Heavy Industries & Energy’ Join Forces Generously... Donate 17 Billion KRW in Company Shares and Cash to Unhae Scholarship Foundation

Support for Underprivileged Students by Two Affiliates Amid COVID-19, Practicing ESG Management

SNT Heavy Industries Contributes Additional 10 Billion KRW, SNT Energy Donates 7 Billion KRW

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] SNT Heavy Industries has donated a total of 10 billion KRW to the Unhae Scholarship Foundation, including 1 million shares of its own stock worth approximately 8.6 billion KRW and 1.4 billion KRW in cash.

On the 22nd, SNT Heavy Industries stated that this donation is to support educationally marginalized groups struggling due to the prolonged COVID-19 pandemic and to practice ESG management.

On the same day, SNT Energy also donated a total of 7 billion KRW to the Unhae Scholarship Foundation, including 300,000 shares of its own stock (5.5 billion KRW) and 1.5 billion KRW in cash.

The Unhae Scholarship Foundation plans to expand its scholarship programs for nurturing talent in science and technology and supporting educationally marginalized groups by using dividends from the stocks donated by SNT Heavy Industries and SNT Energy, as well as cash interest income.

An SNT official said, “We plan to strengthen not only donations but also transparent management, ethical management, and social contribution, which are core values of ESG management.”

The Unhae Scholarship Foundation was established in 2013 with a total of 30 billion KRW, including 10 billion KRW from Chairman Choi Pyung-gyu of the SNT Group’s personal funds, 10 billion KRW from SNT Heavy Industries, and 10 billion KRW from SNT Motive.

Following SNT Motive’s additional donation of 10 billion KRW worth of treasury stock in June, the foundation’s principal assets have expanded to approximately 57 billion KRW with the additional contributions from SNT Heavy Industries and SNT Energy.

From 2014 to this year, the Unhae Scholarship Foundation has selected 476 university students and awarded a total of 3.6 billion KRW in scholarships over eight years.

Next year, the foundation plans to select 100 students for the 9th Unhae Scholarship, which is larger than usual, and provide each recipient with a scholarship of 8 million KRW.

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