Samsung Donates Neighborly Love Fund for Year-End... 670 Billion Won Donated Since 1999

[Asia Economy Reporter Kim Hyewon] Samsung announced on the 1st that it will donate 50 billion KRW as year-end neighborly love funds to the Community Chest of Korea and purchase 300,000 calendars from nine non-governmental organizations (NGOs) engaged in youth education and child protection projects.

Since 1999, Samsung has been donating year-end neighborly love funds to the Community Chest of Korea to help socially vulnerable groups. The funds delivered this year will be used to support youth education, provide livelihood assistance to vulnerable groups, and renovate social welfare facilities.

From 1999 to 2003, Samsung donated 10 billion KRW annually, from 2004 to 2010, 20 billion KRW annually, 30 billion KRW in 2011, and 50 billion KRW every year since 2012. The total amount donated by Samsung from 1999 to this year reaches 670 billion KRW.

Thirteen 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 participated in this year-end neighborly love fund donation, each going through approval procedures for external donation contributions.

Image of the UNICEF calendar purchased by Samsung Electronics

To support youth education and child protection projects of domestic and international NGOs, Samsung decided to purchase 300,000 desk calendars from nine NGOs including UNICEF, JA Korea, Children and Future Foundation, Green Umbrella Children’s Foundation, and Blue Tree Foundation, and distribute them to its employees.

Samsung not only provides financial support to NGO projects but also aims to raise employees’ awareness of corporate social responsibility (CSR). Following the proposal of Vice Chairman Lee Jae-yong of Samsung Electronics, since last year, instead of producing calendars internally, Samsung has been purchasing calendars made in partnership with NGOs.

The calendars Samsung purchases were produced in collaboration with NGOs mainly engaged in youth education and child protection projects such as ▲youth learning support ▲support for children from vulnerable groups ▲prevention and treatment of school violence ▲environmental protection. The calendars feature the logos and project descriptions of the respective NGOs along with Samsung’s CSR vision, "Together for the Future! Enabling People." Fourteen affiliates participated in purchasing the calendars.

Last year, Samsung established the CSR vision "Together for the Future! Enabling People" and has been conducting youth education-centered CSR activities such as Samsung Junior & Youth Software Academy, Samsung Dream Class, and Samsung Smart School.

Additionally, Samsung supports nonprofit organizations with good ideas but insufficient funding through "Sharing and Dream," the largest social welfare contest project in Korea, in cooperation with the Community Chest of Korea.

Samsung also sponsors "Samsung Hope Stepping Stone," a self-reliance support program for "youth aging out of care," who live in welfare facilities and enter society upon turning 18 years old.