LG Supports COVID-19 Spread Prevention with 6 Billion KRW Funding

Social Welfare Community Chest Donates 5 Billion KRW
LG Household & Health Care Provides 1 Billion KRW in Goods Support

[Asia Economy Reporter Dongwoo Lee] On the 26th, LG announced that it will donate 5 billion KRW to the Community Chest of Korea to prevent the spread of the novel coronavirus infection (COVID-19) and support damage relief.

LG plans to provide quarantine supplies to support confirmed patients and prevent the spread of infection in local communities through the Community Chest of Korea. In particular, the company intends to support disaster-vulnerable groups and low-income families affected by economic activity contraction, focusing on the Daegu and Gyeongbuk regions, which have been severely impacted by COVID-19.

Additionally, LG Electronics will support productivity improvement by providing consulting and interest-free funds if partner companies overseas return to Korea or expand domestic production due to the impact of COVID-19, and will guarantee purchase volumes. LG Household & Health Care will provide hand wash products worth 1 billion KRW in kind.

Furthermore, to ensure stable operation of partner companies facing financial difficulties, the scale of interest-free loans for partners will be expanded from 40 billion KRW to 55 billion KRW. The schedule for financial support will also be advanced by four months and is planned to be carried out within this month.