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| Car dealers of Hyundai Motor attend a ceremony to celebrate the launch of the fund set up to help the underprivileged at the firm's headquarters in southern Seoul, Dec. 9. Yonhap |
By Lee Kyung-min
A total of 15 car dealers of Hyundai Motor have jointly established a 20 million won ($15,239) fund to help underprivileged, chronically ill children with their medical expenses, the firm said Monday.
The donation was made in the form of a matching grant, whereby the firm matched a previous 10 million won donation by 15 employees.
The funds delivered to ChildFund Korea, a children's advocacy organization, will be used for medical treatment, medicine and operating costs as needed.
The creation of this fund is the latest in a series of social contribution efforts by the car manufacturer. A group of Hyundai employees had set up a 20 million won fund in September to help car accident victims with medical and living expenses. The fund was delivered to the TS Korea Transportation Safety Authority, a state-run organization affiliated with the transport ministry.
The 15 employees attended a ceremony held to celebrate the launch of the fund at the firm's headquarters in southern Seoul.
"We are glad that part of corporate profits was used to help the less fortunate in society," a Hyundai official said. "We will continue our efforts to help the socially vulnerable."
Meanwhile, the firm signed a memorandum of understanding (MOU) with the International Transport Forum (ITF), an inter-governmental organization within the Organization for Economic Cooperation and Development (OECD), Dec. 9, to bolster cooperation in the development of new technologies and business models.
The ITF has 64 member countries and acts as a think tank for transport policy, as well as organizes an annual summit of transport ministers.
The ITF is the only global body that covers all modes of transportation. It is administratively integrated into the OECD but politically autonomous.
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