Chairman of Hanjin Group, Executive Team to Donate 3 Billion Won to Youth Hope Fund

The Hanjin Group announced on Nov. 12 that Cho Yang-ho, its chairman, together with the group’s executive team, decided to make a donation of 800 million won (US$689,272) to the public trust fund titled Youth Hope. Chairman Cho will also make a private donation of 2.2 billion won (US$1.9 million), bringing the total donation amount to 3 billion won (US$2.5 million).

The Youth Hope Fund is designed to increase employment opportunities for job seekers and provide support and encouragement for those in part-time jobs. The collected fund will be used for the fund’s enterprises designed to create jobs.

The recent contribution reflects the management philosophy of Chairman Cho, who puts the highest priority on nurturing the talents of his employees. In making the recent donation, the Hanjin Group expressed its hope that young job seekers do not lose their motivation and continue to pursue their dreams.

Meanwhile, the Hanjin Group has continuously made efforts to create jobs. On Oct. 2, members of Korean Airlines, Hanjin Shipping, the Hanjin Group and its subsidiaries attended a Job Fair titled Youth 200,000 Plus Job Creation in a bid to express their support for the government policy of expanding employment opportunities.

During the second half of the year, all subsidiaries hired approximately a total of 1,000 new employees, including 50 hires by Hanjin and 330 by KAL. Hanjin added about 540 more hires to the original plan set early this year. As such, the Hanjin Group plans that the company will continue to take the lead in resolving youth unemployment.