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Taking Corporate Social Responsibility Seriously
Samyang Group serves society in various sectors
Taking Corporate Social Responsibility Seriously
  • By matthew
  • March 15, 2010, 15:59
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Samyang Group, comprised of chemical, foodstuffs, pharmaceuticals and other related businesses sectors, is perhaps one of the most serious companies in Korea in terms of social contribution. Since being established in 1924, Samyang Group has consistently strived to serve society and those who are less fortunate.

Last December, Samyang Group donated a total of 300 million won to the Social Welfare Charity Fund Association in order to help those who are socially-marginalized. Samyang Group has been making charitable donations to the Social Welfare Charity Fund Association every year since 2001. “In an effort to fulfill our corporate social responsibility and our management philosophy, we operate a charitable fund to help those in need in our society. We must remember that some may be experiencing a winter colder than ever before this year, following the economic downturn,” said one Samyang Group official.

Samyang Group constantly conducts corporate social responsibility activities, such as the Love Thy Neighbors Campaign, the Environment Protection Campaign, and various scholarship programs. The majority of Samyang employees regularly participate in volunteer community activities, such as One Company Visiting One Village campaign, as well as charity bazaars and sharing briquette events, while blood donation is also a very common activity.

Samyang launched the nation's very first non-governmental scholarship foundation, the Yangyoung Foundation, in 1939, and another scholarship foundation, the Sudang Foundation in 1968. Samyang held the 2010 Scholarship Granting Ceremony for both foundations in mid-February. The two scholarship foundations selected 86 students from 29 colleges and universities and 60 high school students, with a total of 670 million won being given to 146 students. The number of students and college professors that have been supported by the Yangyoung Foundation and Sudang Foundation currently stands at approximately 20,000. The Yangyoung Foundation was established by Kim Yeonsoo, the founder of Samyang Group, while the Sudang Foundation was established by Kim and his sons and daughters. Every May, the Sudang Prize is granted to scholars who have made notable achievements in the fields of basic science, applied science and cultural science, with total prize money reaching 300 million won.

Samyang's executives and their families visited one-parent families, parentless children who are also the breadwinners of a family, as well as elders living alone to present them with gift packages comprised of raw rice, sugar and other necessities. Samyang sponsored the event by donating a vast amount of sugar, one of Samyang's main products. The company has been sponsoring the event since 2005.

Samyang stresses the importance and significance of the company's social contributions, even when training the company's newly hired employees. Recently, 21 new employees of the company volunteered to serve lunch at Daejeon Station for nearly 200 homeless people from around the station. After serving lunch, the new employees visited and cleaned the local area. This work was conducted as part of the training course for new employees. “This is a great opportunity for us to understand the company's culture, and is also meaningful because I was actually able to help those in need,” said one of the new employees.