Supporting Disabled Families Since 2010... Scholarship Fund Established
Employees as Mentors & Youth Mentees Save, Company Also Supports
Support Expanded, Monthly Savings Increased from 60,000 KRW to 140,000 KRW
LG Uplus announced on the 7th that it has supported asset formation for a total of 488 youths from families with disabilities over 15 years through the 'Dudream U+ Magic Savings Account' in partnership with the Korea Disabled Rehabilitation Association.
Hosted by LG Uplus and organized by the Korea Disabled Association, the Dudream U+ Magic Savings Account is a matching fund-type social contribution activity that has selected first-year middle school students (aged 13) from families with disabilities every year since 2010 to create scholarship funds for college tuition or employment preparation.
LG Uplus employees serve as mentors and donate 20,000 KRW monthly from their salaries, while the mentee youths also save 20,000 KRW monthly. LG Uplus matches this with 60,000 KRW each month, operating as a savings installment plan.
The mentee youths receive a scholarship including the accumulated savings of 6 million KRW plus a certain amount of interest upon graduating from high school, which can be used for college admission or funds for social independence.
Additionally, employee mentors who donate monthly participate in cultural experiences, summer camps, and other online and offline activities with their mentee youths.
Starting this year, the number of employee mentors per youth mentee will increase to two. This change reflects the increased number of employees wishing to participate and internal feedback aimed at reducing the burden of one-on-one communication for the youth mentees.
The scale of funds for youth independence will also increase. When two employee mentors and one mentee each save 20,000 KRW monthly, totaling 60,000 KRW, the company will increase its support from the existing 60,000 KRW to 80,000 KRW. This means that 140,000 KRW will be accumulated monthly per mentee, and upon high school graduation, the scholarship amount will be 8.4 million KRW plus interest.
So far, LG Uplus has accumulated approximately 2.168 billion KRW in savings.
The 15th Dudream U+ Magic Savings Account launch ceremony is scheduled to be held on the 23rd at the LG Uplus Yongsan building in Yongsan-gu, Seoul. After the launch ceremony, 30 mentees and 60 mentors will participate in a 2-day, 1-night ski camp before starting full-scale activities.
Lee Hong-ryeol, Head of ESG Promotion Office at LG Uplus, said, "We hope that employee mentors and youth mentees from families with disabilities will form deep bonds through the program and have an opportunity to realize their dreams."
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