SEOUL, Aug. 31 (Korea Bizwire) — Hyundai Motor Group’s Honorary Chairman Chung Mong-koo will donate 10 billion won (US$8.6 million) to a vaccine development center run by a local university to help fight the new coronavirus pandemic, the company said Tuesday.
Chung Euisun, chairman of the South Korean automotive group, attended a signing ceremony for the donation to Korea University Medicine on behalf of his father, Hyundai said in a statement.
The vaccine development institute has been developing vaccines to prevent infectious diseases and treat them. The donated money will be spent to expand the medical center’s existing R&D facility, it said.
The country added 1,372 more COVID-19 cases, including 1,333 local infections, raising the total caseload to 251,421 as of Tuesday.
The honorary chairman has donated a total of 850 billion won to support young talents, underprivileged people and cultural projects through the Hyundai Motor Chung Mong-koo Foundation since 2007, the statement said.