GS Group donates W4b to Community Chest of Korea

South Korea’s eighth-largest conglomerate GS Group has donated 4 billion won ($3.67 million) to the Community Chest of Korea, in a gesture to help the socially vulnerable, the group said Wednesday.

The business group has been making year-end donations to the charity organization since 2005 and the latest contribution has brought the accumulated total amount to 60 billion won.

“We hope to offer help and comfort to those who are going through difficult times due to the COVID-19 crisis,” the group said in a release.

The energy and retail conglomerate also vowed to make the best use of its affiliates’ professional capacities to carry out sustainable activities to care for society and ultimately help the vulnerable stand on their own feet.

“For the sake of valuable and sustainable business, companies should not only participate in the country’s economy but also take on the responsibility for transparent management and mutual growth,” said Chairman Huh Tae-soo.

Apart from the group’s donation, individual GS affiliates have been carrying out their own corporate social responsibility programs.

Oil refiner GS Caltex held a blood donation campaign in partnership with the Korean Red Cross, responding to the increased number of hospitalized people amid the pandemic.

GS Retail donated 10,000 units of KF94-certified masks earlier this month to underprivileged people, teaming up with the Korea Disaster Relief Association and golf ball manufacturer Volvik.

GS Home Shopping has been providing a sales channel for products made by social enterprises that hire vulnerable people.

By Bae Hyun-jung (tellme@heraldcorp.com)