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267 KT&G to Provide 500 Million won for Restoration from Pohang Earthquake 2017.11.16

▶KT&G CEO Bok-in Baek

KT&G (CEO Bok-in Baek) decided to immediately provide 500 million won for the restoration of damage from the earthquake in Pohang.

KT&G will donate 500 million won to Korea Disaster Relief Association for the daily necessities of the victims. In addition, Korea Ginseng Corporation, an affiliated company of KT&G will deliver 10,000 bottles of red ginseng drinks.

Nov 15, A 5.4 magnitude earthquake struck Pohang and the quake was followed by aftershocks of lesser intensity. The quake injured 57 people and left about 1,500 homeless, officials said.

Jinhan Kim, head of KT&G Social Contribution Office, said, “It is a great pity that many people were injured, and the damage of properties was serious. We made an immediate decision for support based on the suggestion of board members and employees that the KT&G should support residents in earthquake damaged area.”

In September 2016, KT&G provided 500 million won for the restoration of cultural assets damaged by earthquake in Gyeongju. The Company has supported damaged areas including donating 1,500 million won related to the sinking of Sewol ferry, 350 million won for the wildfire victims in Gangwon province and Gyungsangbuk province, and 200 million for the earthquake victims of Nepal.

KT&G spent 2.5% of its total sales equivalent of approximately 72.8 billion won for corporate & social activities. This amount is over ten times of the average of top 200 Korean companies, 0.2%, published by the Federation of Korean Industries (FKI). The ratio is one of the top among the whole Korean companies.


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