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.