KT&G (CEO Bok-in Baek) invests KRW 20 billion in scholarship project strengthening.

September 30, KT&G announced the Company would invest KRW 20 billion in KT&G Scholarship Foundation in the form of treasury stock (KRW 15 billion) and cash (KRW 5 billion). The total accumulated investment by KT&G will amount to KRW 93.7 billion.

KT&G Scholarship Foundation was established in 2008 for the purpose of deploying scholarship projects to resolve academic disparities and provide reliable opportunity of education for the educational alienation class. Its main project is ‘Sangsang Scholarship Program’ which provides scholarship and learning aid money for the children of the underprivileged. The ‘Total-Care’ program delivers sustainable and reliable support for children from middle school through college freshman.

From this year on, the foundation enforced its scholarship projects by starting ‘Art, Music and Physical Education Scholarship Program’ for talented students with economic difficulties and ‘Sangsang Restart’ for the self-reliance of adolescents in the residential care,

With the new funds from dividends generated by the treasury stocks, KT&G Scholarship foundation will strengthen existing projects and also continue to develop differentiated new programs.

Jinhan Kim, head of Corporate Social Responsibility division, said “KT&G decided to invest in scholarship foundation in order to fulfill its social responsibility as a corporate citizen by enforcing the scholarship program. The company will endeavor to realize ‘co-prosperity’ one of its core corporate values.”