Daewoo International donates W100 million for social enterprises

Daewoo International Corp. said Thursday it has donated 100 million won ($86,300) to help set up a social enterprise as part of its social contribution campaign.

The POSCO-affiliated trading firm said it has been backing a childcare center for multicultural families, which is gearing up to transform into a social enterprise in 2012. The plan needs approval from the Ministry of Employment and Labor.

Operated by a community welfare center in southwestern Seoul, the facility has looked after nearly 700 children on monthly average over the last three years, Daewoo noted.

“We feel grateful that the childcare center is adding force to help multicultural households settle down in Korean society by nurturing their children and providing fine education,” Shin Young-kwon, senior managing director at Daewoo, said at a ceremony in Seoul.

With Daewoo’s support, the facility will expand its services with specialized education programs and advanced equipment starting next year, the firm said.

“We hope the facility will get on its feet as a social enterprise to continue its services and develop practical programs such as job creation for marriage immigrant women.”

Daewoo plans to back the childcare center by 2014 until it secures a firm footing as a social enterprise, it added.

By Shin Hyon-hee (heeshin@heraldcorp.com)