Ferrari Donates 1 Million Euros to Support Ukrainian Refugees
Donation to International Humanitarian Project Supporting Ukraine
Support for Local Relief Efforts Focused on Refugee Reception in Italy
"Decision to Suspend Vehicle Production for Russian Market Until Further Notice"
[Asia Economy Reporter Hyunseok Yoo] Ferrari announced on the 11th that it will donate 1 million euros (approximately 1.36 billion KRW) to support Ukrainian refugees.
The funds will be delivered through the Emilia-Romagna region, where Ferrari's headquarters are located. The funds will be used for international humanitarian projects supporting Ukraine in cooperation with the Red Cross and the United Nations High Commissioner for Refugees (UNHCR), as well as local relief activities focused on accommodating refugees in the Italian region.
Additionally, donations will be made to NGOs supporting Ukrainian refugees who will reside in areas near Ferrari's headquarters, such as the Chernobyl Association in Maranello, Fiorano, and Formigine.
Along with this, Ferrari has decided to suspend vehicle production for the Russian market until further announcements, considering the current situation. Ferrari stated that it will continue to closely monitor the situation and comply with all rules, regulations, and sanctions.
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Benedetto Vigna, Ferrari's Chief Executive Officer (CEO), said, "Ferrari hopes for a swift return to dialogue and a peaceful resolution regarding the current situation, but at the same time, we could no longer remain indifferent to those suffering," adding, "Ferrari will always stand with all the people of Ukraine who are currently facing humanitarian threats."
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