Booyoung Group said Friday it has signed an agreement to support the United Nations’ human settlements program.
Under the deal, the construction-centered Korean corporation will provide $3 million over the next decade to help urban development and habitat improvement in Africa.
“With the funds, we will improve the side effects of rapid, unplanned urbanization in developing countries, particularly Africa’s poorest ones,” Joan Clos, executive director of the U.N.-Habitat, said at a signing ceremony in Seoul.
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Booyoung Group Chairman Lee Joong-keun (left) and the U.N.-Habitat’s executive director Joan Clos pose after signing an agreement to fund the agency’s human settlements program at a ceremony in Seoul on Thursday. (Booyoung Group) |
Headquartered in Nairobi, Kenya, the U.N.-Habitat set out in 1978 to ensure adequate, sustainable shelter for all humankind.
The agency, which accounts for about 5 percent of the entire U.N. budget, chiefly finances its programs through contributions from central and local governments, foundations and businesses around the world.
Korea is a member of its executive council.
“This donation created the first partnership between a Korean firm and a U.N. agency,” said Booyoung Group Chairman Lee Joong-keun.
“I hope it will strengthen Korea’s stature in the world community and expand the culture of donation.”
As part of its corporate social responsibility efforts, Booyoung said it has built education and welfare facilities in Korea, and more than 600 primary schools in 14 other countries including Vietnam, Laos and Thailand for free.
By Shin Hyon-hee (
heeshin@heraldcorp.com)
