Yeongpung Cultural Foundation Donates 100 Million Won Each for Neighborly Aid in Andong and Bonghwa

Early Payment of 16.4 Billion KRW to Partner Companies

Global non-ferrous metal company Yeongpung paid transaction fees early to ease the financial burden on its partners ahead of the Lunar New Year holiday.

On the 8th, Yeongpung announced that it had paid 16.4 billion KRW in transaction fees to partner companies and construction firms ahead of the Lunar New Year holiday.

The purpose was to alleviate the temporary concentration of financial management burdens on partners during the holiday period by paying various transaction fees, including construction fees and raw and subsidiary material fees, earlier than the usual payment dates.

Yeongpoong Seokpo Smelter in Bonghwa-gun, Gyeongbuk, Yeongpoong's main business site.

A Yeongpung official said, "This is part of our win-win cooperation and mutual growth policy to support the smooth financial management of our partners," adding, "We implement early payment of fees every year during the holidays."

In addition, Yeongpung provided holiday gift sets worth approximately 150 million KRW to residents of Seokpo-myeon, Bonghwa-gun, Gyeongbuk, where its main business site, Yeongpung Seokpo Smelter, is located, as well as to executives and employees of partner and construction companies.

Separately, the Yeongpung Cultural Foundation recently designated and donated a total of 200 million KRW, 100 million KRW each, to Andong City and Bonghwa-gun in Gyeongbuk through the Community Chest of Korea.

The foundation's donation will be used for emergency support living expenses, medical expenses, fire recovery costs, and housing environment improvements for residents in the respective areas.

Additionally, the Yeongpung Cultural Foundation supported the local community with approximately 40 million KRW, including 11 million KRW for clothing support for students in remote villages, 5 million KRW for after-school activity equipment for children from single-parent and multicultural families, and 24 million KRW for heating costs at senior centers.

A Yeongpung official said, "We hope both our partners and local residents have a prosperous Lunar New Year holiday," and added, "We will continue to seek various support measures to foster win-win cooperation with them."

Yeongpung, established in 1949, is a global non-ferrous metal company. Its main business site, Yeongpung Seokpo Smelter in Bonghwa-gun, Gyeongbuk, is the world's third-largest non-ferrous metal smelter based on zinc production volume (400,000 tons annually). It employs about 600 smelter workers and approximately 1,300 people including partner and construction company employees, serving as a strong pillar of the local economy.

In 2021, Yeongpung became the first smelter in the world to introduce and operate the ‘Z·L·D (Zero Liquid Discharge)’ system, a 100% wastewater recycling facility (zero discharge system), actively practicing ESG management.

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