102 Listed Companies of Top 10 Groups Saw Decrease in Donations Last Year

[Graphic and Analysis by Heejin Lim]

[Asia Economy Reporter Park So-yeon] Last year, the total amount of donations made by the top 10 domestic conglomerates' listed companies slightly decreased. Analysts suggest that the economic slowdown due to the impact of COVID-19 and other factors led companies to reduce their donations. Despite the difficult circumstances, the total donations from LG and GS groups notably increased.

On the 17th, Asia Economy analyzed the total donations of 102 listed affiliates of the top 10 groups based on their 2019-2020 business reports. The total donations last year amounted to 1.099 trillion KRW, showing a 1.56% decrease compared to the previous year (1.1165 trillion KRW).

The conglomerate group with the largest decrease in total donations compared to the previous year was Hanwha Group, which donated 19.5 billion KRW last year, down 15.18% year-on-year. Following that, Samsung Group donated 364.1 billion KRW, a 10.93% decrease compared to the previous year.

POSCO donated 50 billion KRW, down 8.31% year-on-year, and Shinsegae also donated 28.1 billion KRW, a 5.63% decrease from the previous year. SK donated 277.9 billion KRW, down 5%. Lotte donated 67.2 billion KRW, a 2.3% decrease.

On the other hand, the conglomerate groups with the highest increase rates were GS, followed by LG.

GS Group's total donations from seven listed affiliates increased from 6 billion KRW the year before last to 9.7 billion KRW last year, a 60.67% increase. LG Group's donations from 13 listed affiliates rose from 66.4 billion KRW the year before last to 106.5 billion KRW last year, a 60.37% increase.

Next, Hyundai Heavy Industries Group donated 26.9 billion KRW the year before last and 32.2 billion KRW last year from six listed affiliates, an increase of about 19.58%. Hyundai Motor Group donated 143.8 billion KRW last year from 12 listed affiliates, a 3% increase compared to the previous year.

By group, Samsung Group ranked first with total donations of 364.1 billion KRW. This was followed by SK, Hyundai Motor, Lotte, LG, POSCO, Shinsegae, Hyundai Heavy Industries, Hanwha, and GS in that order.