Samsung donates 50 billion won to year-end community fund

Samsung announced on Monday that it has donated 50 billion won to the Community Chest of Korea as part of its year-end charitable contributions.

The company has been making year-end donations to the Community Chest of Korea as a "Neighborly Love" fund for 26 consecutive years since 1999, with total contributions amounting to 870 billion won to date. From 1999 to 2003, Samsung donated 10 billion won annually. The amount was increased to 20 billion won per year from 2004 to 2010, 30 billion won in 2011, and 50 billion won annually since 2012.

This year’s donation involved 23 Samsung affiliates, including Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, Samsung Securities, Samsung C&T, Samsung Engineering, Cheil Worldwide, and S-1.

The participating affiliates confirmed they followed internal approval processes to allocate funds for external donations. Samsung stated that the funds would be used to support youth education programs and assist vulnerable groups in society.


Do-Young Kwak now@donga.com