BMW provides new opportunities for Korean society

BMW Korea has spent approximately 11 trillion won ($10 million) over the years in contributing to Korean society as a model for other foreign affiliated firms, said the company Tuesday.

The total amount of donations made in the past six years has reached 22.5 billion won as of 2016 with BMW Financial Service Korea, eight official dealer companies and its customers joining in.

The BMW driving center, the world’s first vehicle culture complex, has seen 400,000 visitors since its opening in 2014. In addition, a regional distribution center in Anseong, Gyeonggi Province, a complex cultural facility in Songdo, Incheon, and the world’s 5th BMW satellite R&D center are to create new jobs once they are constructed.

New opportunities for Korean firms have also been brought about as the number of Korean subcontractors affiliated with BMW has increased to 26 companies, with related contracts worth 2 trillion won last year. The company’s dealer network is also to be expanded to 186 companies this year.

The BMW Korea Future Fund, which has allowed BMW to become one of the biggest imported car brands in Korea to pursue consistent social contribution programs in the form of a non-profit foundation, has supported young people through programs including the Junior Campus, Young Engineer Dream Project, Next Green, and Hope Sharing School.

With the aim of training talented individuals in the automobile sector, the Apprentice Program began in 2004, employing a total of 854 students through the program as of February.

The Ausbildung program is also to be implemented in Korea as the company signed a memorandum of understanding with Mercedes Benz Korea and Korean German Chamber of Commerce and Industry in March to train students, specifically in car maintenance, until 2022. 

By Yim Ji-min (jiminy@heraldcorp.com)