Samsung to invest W10 bil. in social welfare


Samsung Electronics plans to invest 10 billion won ($8.72 million) this year to fund nonprofit organizations dedicated to social welfare here.

The company has teamed up with the Community Chest of Korea, the nation’s largest charity organization, to select the fund winners in four areas of social, environmental, cultural and global welfare.

Depending on the project, the firm will give up to 500 million won for three years.

Samsung started the social campaign called “Sharing and Dreams” last year to financially underpin organizations for those in need. This is a part of Samsung’s group-wide policy to enhance its corporate social responsibility (CSR) to give back to the community.

“More than 1,000 nonprofit organizations took part in our campaign last year,” Yoon Ju-hwa, president of the Samsung CSR Committee, said. “We hope more nonprofit entities suggest great ideas to resolve social problems for this year’s program as well.”

Any nonprofit organizations doing welfare business here can apply for funding from July 10 to Aug. 25. Samsung is set to select 50 nonprofit bodies in December, after document reviews and interviews.

Last year, the company picked 51 nonprofits from 1,045 applicants.

Community Chest of Korea Chairman Hur Dong-soo also pledged to spare no efforts to support the nation’s largest charity campaign.

To be specific, applicants for social welfare need to propose ideas to resolve such issues as social polarization, unemployment and the “educational gap.” Those applying for environmental welfare can pitch ideas about ways to improve the quality of life of underprivileged people suffering from air or water pollution.

Global welfare applicants need to present specific measures to improve education or healthcare infrastructure in developing countries, Samsung said.

Samsung Electronics is one of the biggest donors in Asia’s fourth-largest economy.

CSR activities in Asia

It has also carried out various CSR activities across the world including Asia.

Last December, Samsung Electronics gave 1,000 motorcycle helmets to students in Cambodia. Through what it calls the “Helmet Campaign,” the company said it aimed at tackling a serious traffic safety problem in Cambodia. About 70 percent of traffic accident victims are involved in motorcycle crashes. But only 22 percent of Cambodia’s motorcycle riders wear helmets.

Last September, a Samsung Electronics volunteer team went to Uzbekistan to provide information technology education to high school students and collegians in the country. It was the third consecutive year for the company to send volunteers to the country.