Samyang Group Donates 300 Million Won in Neighborly Love Fund to Community Chest of Korea

[Asia Economy Reporter Seungjin Lee] Samyang Group announced on the 29th that it donated 300 million KRW in Neighbor Love funds to the Community Chest of Korea to mark the end of the year.

Samyang Holdings, Samyang Packaging, and Samyang Inochem each contributed 100 million KRW to prepare this fund, which will be used for basic living expenses support for marginalized neighbors, education and housing environment improvement, and essential medical expenses. Samyang Group has been donating Neighbor Love funds annually through the Community Chest of Korea since 2001.

A representative from Samyang Holdings said, “We hope that the funds, which carry the hearts of Samyang Group employees, will be of some help to neighbors who are going through even more difficult times due to the ongoing COVID-19 pandemic.”

Meanwhile, Samyang Group is taking the lead in fulfilling its corporate social responsibility by donating funds and goods. In March last year, at the early stage of the COVID-19 outbreak, Samyang Group donated 150 million KRW worth of funds and goods to the Korean Red Cross, and in April this year, it donated cosmetics worth about 900 million KRW to Beautiful Store. The donated cosmetics were provided to socially vulnerable groups in need, such as elderly living alone and low-income families.

In addition, based on the social contribution philosophy of “providing opportunities to achieve dreams,” Samyang Group operates scholarship projects and supports basic science and humanities through two scholarship foundations, the Yang Young Foundation and the Sudang Foundation. The Sudang Foundation runs the Sudang Award, which selects individuals who have achieved accomplishments in basic science, applied science, and humanities and social sciences, awarding a plaque and a prize of 200 million KRW each. So far, the two foundations have supported scholarships and research funds to about 23,000 students and over 700 professors and research organizations.

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