Arab Today, arab today hyundai firms to set up 500 bln won social foundation
Last Updated : GMT 05:43:04
Arab Today, arab today
Arab Today, arab today

Hyundai firms to set up 500 bln won social foundation

Arab Today, arab today

Arab Today, arab today Hyundai firms to set up 500 bln won social foundation

Seoul - Yonhap

Several former Hyundai Group affiliates will set up a 500 billion won (US$467 million) foundation to help reduce social inequity and fuel corporate activities, the companies said Tuesday. Funding for the Asan Sharing Foundation will come from Hyundai Heavy Industries Co. -- the world\'s largest shipyard -- as well as KCC Group, Hyundai Marine and Fire Insurance Co., Hyundai Development Co., Hyundai Welding Co. and Hyundai Department Store. Of the total, Hyundai Heavy Industries Co. will foot 238 billion won, with the rest coming from other companies. The foundation, which takes its name from the nickname of Hyundai founder and late chairman Chung Ju-yung, will use the money to carry on the legacy and spirit of the entrepreneur, who died in 2001. Hyundai, the largest family-owned conglomerate in the country at one time, was broken up into several separate businesses after Chung\'s death, with his sons and siblings engaged in such diverse businesses fields as carmaking, steel production, shipbuilding and industrial plant manufacturing. The foundation plans to support efforts to reduce the gap between haves and have-nots, and help young entrepreneurs as they try to set up new companies, officials said. \"The goal is to offer timely and necessary assistance that reflects the views of Chung Ju-yung,\" said a spokesperson for the foundation\'s preparatory committee. Chung Jin-ho, honorary professor at Seoul National University, is set to chair the committee. The foundation, however, will not receive contributions from Hyundai Motor Co. and Kia Motors Corp., which already operate a similar foundation. Hyundai Group, currently run by Chung\'s daughter-in-law Hyun Jeong-eun, will not contribute to the foundation, either. Hyundai firms to set up 500 bln won social foundation 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hyundai firms to set up 500 bln won social foundation Arab Today, arab today hyundai firms to set up 500 bln won social foundation

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hyundai firms to set up 500 bln won social foundation Arab Today, arab today hyundai firms to set up 500 bln won social foundation

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday