(9 days left!) Be the first with a 200MP camera! Visit Samsung to reserve and gain $100 in Samsung credit!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung donates $24.6 million to contain coronavirus in South Korea


Last updated: February 26th, 2020 at 13:27 UTC+01:00

In an exemplary display of corporate social responsibility, Samsung Group has announced that all of its affiliates will donate a combined 30 billion won or $24.6 million to support the South Korean government in its efforts to contain the spread of the coronavirus infection in the country.

South Korea is one of the countries dealing with a significant number of coronavirus cases. The government is focusing its efforts on ensuring that the virus does not spread any further as South Korea already has the highest number of confirmed cases outside China.

Emergency support fund also raised for subcontractors

Some of South Korea’s biggest conglomerates have thrown their weight behind the country’s government as it tries to control the spread of the virus. Samsung Group, arguably one of the biggest and most influential conglomerates in the country, has announced that 14 of its affiliate companies will donate a combined total of $24.6 million to the Korea Disaster Relief Association.

It will use that money to acquire relief supplies such as disinfectants, hand sanitizers, daily necessities and other related products. The company has also raised a 1 trillion won fund to provide its subcontractors that are also facing problems due to the virus with emergency funding.

Samsung Electronics and other affiliates held emergency board meetings to quickly approve the expenditure. “We have grown with the people’s support, and have to share with society at such a difficult time,” said Samsung Electronics Vice Chairman and the conglomerate’s de-facto heir Lee Jae-yong.

Samsung had to deal with a coronavirus infection at its smartphone manufacturing factory in Gumi just last week. The infection was confirmed in one of its employees so Samsung shut down the entire factory, which produces smartphones like the new Galaxy Z Flip, over the weekend to disinfect the workplace.

Source General Samsung Group
Load 2 comments

You might also like

Samsung holds retirement ceremony for guide dogs, rehomes new puppies

Samsung Group has a hand in almost every corner of the market, from smartphones and TVs to medicine and cargo ships. Galaxy smartphone users aren’t generally aware of the company’s reach, but Samsung is a conglomerate that makes a lot of technological advancements possible in and outside of South Korea. However, not everything Samsung does […]

  • By Mihai Matei
  • 4 months ago

Samsung heir Lee Jae-yong pardoned by South Korean President, gets cleared of bribery charges

Samsung Electronics Vice Chairman Lee Jae-yong received a huge relief today. The President of South Korea, Yoon Suk Yeol, pardoned Lee on the occasion of next week’s Liberation Day anniversary in the country. Lee Jae-yong can now formally take control of South Korea’s largest conglomerate. Earlier, Lee was sentenced to 2.5 years in prison after being […]

  • By Asif Iqbal Shaik
  • 6 months ago

BREAKING: Samsung boss Lee Jae-yong granted parole, will be released on Friday

Samsung Group’s leader, Lee Jae-yong, was sent to jail a few months ago on bribery charges. However, it was being speculated that he may be pardoned by the South Korean president sometime in August. Now, it is being reported that Lee has been granted parole, which means that he will soon be released from jail. Lee […]

  • By Asif Iqbal Shaik
  • 1 year ago

Is Samsung a Korean company? A short history of the global giant

Samsung is one of the world’s largest technology companies. At $197.7 billion, it ranked second on Fortune’s list of the largest tech companies by revenue in 2020. Samsung is a truly massive conglomerate with a worldwide presence and almost 300,000 employees across the globe. Most of the companies on that list are from the United […]

  • By Adnan Farooqui
  • 2 years ago

Forbes names Samsung Group among top five influential Asian firms

The US-based business magazine Forbes has named Samsung Group among the top five influential firms in Asia. The South Korean consumer electronics giant has been named among firms like China’s Alibaba, India-based HDFC Bank, Sony, and Toyota, thanks to its achievements in the technology segment. Forbes mentioned that the companies it listed as the top […]

  • By Asif Iqbal Shaik
  • 5 years ago

Samsung Group shuts down its website and blogs

Samsung Group, the powerful South Korean conglomerate made up by lucrative companies like Samsung Electronics, has shut down its official websites and blogs after the conglomerate’s corporate strategy office was disbanded in February. The office was shut down following allegations of bribery and corruption which led to the arrest of the conglomerate’s heir Lee Jae-yong. […]

  • By Adnan Farooqui
  • 6 years ago