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Returning 10% of Income Back to Society
E-Land Social Contributions
Returning 10% of Income Back to Society
  • By kady
  • December 16, 2015, 02:00
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E-Land Life Bag.
E-Land Life Bag.

 

Stacks of emergency kits ready to be distributed.
Stacks of emergency kits ready to be distributed.

 

Delivering an E-Land Life Bag to Chinese people in need during the Yunnan Province earthquake last year.
Delivering an E-Land Life Bag to Chinese people in need during the Yunnan Province earthquake last year.

 

The E-Land Group has given 10 percent of its net income in social contributions, putting sharing into practice. The company has three principles to guide its social contributions: sincerity, transparency, and consistency.

The E-Land Group has a mission of “Making profits and using them in the right way,” and therefore tries to spend its money for good reasons. Since 2002, it has donated 10 percent of its total income to society with the slogan “Be the First, Be the Best!” This shows the company’s own special social contribution activities.

Since 1997, the E-Land Group has not only supported its neighbors in need through its own welfare foundations but has also given a practical hand to people in underdeveloped countries by doing activities like emergency relief. It abides by the principle of returning 10 percent of net income to society for Korean corporations as well as overseas corporations.

The E-Land Group follows the 10 percent donation rule in China as well. The company has built two schools in minority ethnic regions, 1300 handicapped people were given prosthetic legs, and victims of leukemia were supported financially by the company. One hundred thirty thousand emergency kits amounting to 22.1 billion won (US$18.7 million) were delivered to disaster areas such as an earthquake and flood regions.

During the Yunnan Province earthquake last year, the E-Land Group affiliated with a Yunnan charity assembled and delivered 10,000 emergency kits to the area containing bedding, sanitary tools, medicine, and daily supplies. The emergency kits amounted to 1.7 billion won (US$1.4 million).

The E-Land Group contracted with the China Education Development Foundation in June 2014 to donate 24 billion won (US$20 million) for the next three years. This is the largest amount of scholarship in China, and 15,500 students will become beneficiaries. The E-Land Group has been awarded in the China Charity Awards for the last two years by the Chinese government in acknowledgement of their true sharing activities.

Last June the company decided to prop up the China Fund for the Handicapped for next five years by pledging to supply them with 10.8 billion won (US$9.15 million). It is the largest amount of money given by local and foreign capital companies in China. Five thousand severely handicapped people and 5,000 handicapped children will be able to take advantage of it, 10,000 in total.

The E-Land Group not only emphasizes staff volunteering and consistency but also regards warm caring as the greatest value of their social contributions. It leads them to pay more attention to areas that other companies do not care about very much. “The E-Land Group will make more efforts to look after neglected people in society,” a spokesman for the E-Land group said.