Cement Industry Sees Regional 'Fund Management Committees' Launched One After Another

Members of the Yeongwol Fund Management Committee, Park Jin-gyu, Plant Manager of Hanil Hyundai Cement Yeongwol Plant (back row, from left), Hong Young-ki, Deputy Governor of Yeongwol County, Son Kyung-hee, Chairman of Yeongwol County Council, and Kim Kwang-ho, Plant Manager of Ssangyong C&E Yeongwol Plant, are posing for a commemorative photo at the Fund Management Committee inauguration ceremony held at Yeongwol County Office on the 3rd.
[Photo by Korea Cement Association]

[Asia Economy Reporter Kim Jong-hwa] The cement industry is steadily launching regional fund management committees in various areas. The cement industry expects that as these regional fund management committees actively operate win-win programs for local communities, they will be able to directly support and benefit the communities.

Hanil Hyundai Cement and Ssangyong C&E held the launch ceremony of the Yeongwol Fund Management Committee at Yeongwol County Office, Gangwon Province, on the 3rd. The ceremony was attended by local figures including Hong Young-gi, Deputy Governor of Yeongwol County, Son Kyung-hee, Chairperson of Yeongwol County Council, and seven members of the fund management committee.

In February last year, the cement industry signed a 'Voluntary Fundraising Agreement for Expanding Social Contribution by the Cement Industry' worth 25 billion KRW with local district lawmakers to expand direct support for communities where production plants are located. The fund management committees were launched starting with Donghae in September last year, followed by Gangneung and Jecheon. Yeongwol was launched this month, and committees in Samcheok and Danyang are planned to be launched soon.

The scale of fund raising for the Yeongwol Fund Management Committee this year is about 3.2 billion KRW, based on last year's production volume, with Hanil Hyundai Cement's Yeongwol plant contributing about 1.9 billion KRW and Ssangyong C&E's Yeongwol plant about 1.3 billion KRW.

The chairman of the Yeongwol Fund Management Committee is Professor Oh Bu-young of Seokyeong University. Chairman Oh stated, "We will strive to operate the funds transparently and stably so that cement companies can continuously establish a corporate culture of coexistence and cooperation with local communities."

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