LG Chem Donates Winter Supplies and Scholarships to Vulnerable Groups Using Solar Power Profits

Seoul Hope Development Center Operating Profit 62 Million Won
Scholarships Awarded to 31 Students
Heating Recharge Kits Provided to 300 Vulnerable Households

LG Chem and Energy Peace officials are posing for a commemorative photo after delivering scholarships to students from vulnerable groups. Photo by LG Chem

[Asia Economy Reporter Choi Seoyoon] LG Chem delivered scholarships to vulnerable groups and supported winter supplies to help them withstand the cold as the year-end approached.

LG Chem announced on the 26th that it conducted the 5th Seoul Hope Green Scholarship Project and Energy Welfare Project using this year’s operating revenue of 62 million KRW from Energy Sharing and Peace (hereafter Energy Peace) and the Seoul Hope Green Power Plant.

Now in its fifth year, the Seoul Hope Green Scholarship Project supports scholarships by receiving stories from children and youth in vulnerable groups in Seoul. This year, scholarships of 1 million KRW each were awarded to 31 students. The selection of scholarship recipients was made by considering the children’s stories and recommendations from welfare workers across the 25 districts of Seoul. Since the first scholarships were awarded in 2018, a total of 131 students have been selected as scholarship recipients.

Additionally, ‘thermal charging kits’ were delivered to 300 vulnerable households in Seoul. The kits include windproof vinyl and door draft stoppers that keep indoor spaces warm, insulating air caps known as ‘Bbokbbok-i,’ and insulating foam block sheets. From 2018 to this year, 3,781 households have received winter supplies.

The scholarship and energy welfare projects are operated using the revenue generated from the Seoul Hope Green Power Plant. Located at the Jungnang Water Reclamation Center in Seongdong-gu, Seoul, the Seoul Hope Green Power Plant is a public solar power plant installed by Energy Peace, sponsored by LG Chem, and supported by the Community Chest of Korea.

Over five years, the solar power plant has produced 3,566,668 kWh of electricity (as of October 2022), resulting in a carbon reduction effect equivalent to 1,660 tons. This is comparable to planting 200,000 young pine trees. Energy Peace has been conducting welfare projects for vulnerable groups worth a total of 1.24 billion KRW over 20 years using the annual electricity sales revenue of 62 million KRW from the power plant. The cumulative support amount until this year is 263.5 million KRW.

Kim Taeho, CEO of Energy Peace, said, “We hope that the scholarships and thermal charging kits will bring some warmth to vulnerable groups during the winter.”

Kang Jaecheol, Head of Sustainability at LG Chem, stated, “We will continue to support local community neighbors so they can have a warm winter despite the cold wave. Through various donations and ESG activities, we will lead efforts to create real value for customers and society and build a sustainable future.”

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