SK hynix Inc., the world's second-largest memory chip producer, announced on June 5 that it would set up a foundation to foster experts in the three fields of safety, health and the environment (SHE).
The chipmaker plans to provide 35 billion won (US$32.6 million) to the foundation over the next 10 years.
The company said the foundation is designed to cultivate experts who can tackle problems related to public safety, health and the environment.
It said the importance of these three areas has been growing amid rapidly changing industrial environment and technological advancement. But Korean society has not been able to address the ever growing problems related to them due to its lack of expertise. As a result, the social cost of these problems has been on the increase.
The foundation will offer scholarships to future leaders of society, provide support to research activities focused on SHE issues, and promote diverse projects with stakeholders to address SHE issues.
SK hynix said the establishment of the foundation is in line with SK Group's broader efforts to create social value, not just economic value, by solving social problems.