When it comes to corporate social responsibility, German luxury carmaker BMW outshines other foreign automakers in Korea in terms of donations and the quality of its CSR projects, according to companies' regulatory filings over the past five years.
The company data showed cumulative donations of the carmaker between 2011 and 2015 reached up to 18.3 billion won ($16 million), which is higher than the 4.5 billion won of its arch rival Mercedes-Benz over the same period.
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Torben Karasek, chief financial officer of BMW Korea, delivers a speech at the company-sponsored alternative school for North Korean refugee students in April. (BMW Korea) |
Despite being hit by the emissions rigging scandal, Audi-Volkswagen Korea did not spare money for CSR at all last year.
“There is no doubt BMW has taken a lead role in CSR among foreign car brands here, seeking mutual growth with the Korean society,’’ said Kim Pil-soo, an automotive engineering professor at Daelim University in Anyang, Gyeonggi Province.
“Foreign brands need to pay more attention to growing social demand in line with their increased presence.”
Sales of imported car brands rose 8.1 percent in March from a year ago, according to the Korea Automobile Importers and Distributors Association. With the growth trend continuing, the market share of foreign car brands is expected to exceed 20 percent this year.
The professor also underlined the importance of CSR activities for business growth.
“We consider corporate responsibility and a social role important for our brand image and for sustainable business growth,” said a BMW Korea spokesperson.
When it comes to key CSR programs, the company said it prioritizes education by promoting knowledge on automobiles and science among youth. BMW official said it had donated 87 BMW cars to high schools and universities across the country for student research.
The firm also signed memorandums of understanding with engineering schools to provide opportunities for joint research and internship.
“Focusing on corporation citizenship, we’re trying our best to expand our CSR activities beyond just making donations for charity activities,” the company official said.
By Hong Sung-pyo (
hong1@heraldcorp.com)
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