donation Archives | Be Korea-savvy
Foreign Businesses in South Korea Stingy with Charitable Donations

Foreign Businesses in South Korea Stingy with Charitable Donations

SEOUL, May 12 (Korea Bizwire) – Corporate analysis website CEO Score revealed in its latest report that foreign businesses are thrifty with corporate philanthropy, donating on average a mere 0.05 percent of their total sales here. Instead, 75.9 percent of their profits were paid as dividends to their head offices back home. According to the [...]

Samsung’s Newfound Virtue and Changes to Come

Samsung’s Newfound Virtue and Changes to Come

SEOUL, March 2 (Korea Bizwire) – Following allegations against Samsung Group and its role in President Park Geun-hye’s corruption scandal, and the subsequent arrest of its de facto leader Lee Jae-yong, Korea’s largest conglomerate decided to abolish its future strategy office while introducing a stringent screening procedure for any donations exceeding 1 billion won ($885,347) [...]

Samsung Electronics Sets New Rule for Donations After Scandal

Samsung Electronics Sets New Rule for Donations After Scandal

SEOUL, Feb. 24 (Korea Bizwire) – The board of Samsung Electronics Co. approved a new clause on Friday that aims to make donations more transparent, after Vice Chairman Lee Jae-yong was arrested over his alleged role in the influence-peddling scandal that led to the impeachment of President Park Geun-hye.  Under the new rule, any plans [...]

Koreans Give Politicians the Middle Finger with 18-won Donations

Koreans Give Politicians the Middle Finger with 18-won Donations

SEOUL, Dec. 9 (Korea Bizwire) – There are certain numbers that, when pronounced in Korean, can convey a completely different meaning than the numbers themselves, like homophones.  And while the number 1,004, pronounced “Cheon-Sa”, can also mean “angel”, the number 18, read “si-pal”, signifies something of an entirely different nature – it’s the four-letter word [...]

Coal Briquette Donations Plummet with Anti-Corruption Law, Political Scandal

Coal Briquette Donations Plummet with Anti-Corruption Law, Political Scandal

SEOUL, Nov. 10 (Korea Bizwire) – Winter is rapidly approaching, but donations of yeontan, coal briquettes that are used in low-income households for cooking and heating, are not as abundant as they were last year.  Officials point to a combination of factors for the change, including the introduction of the new anti-corruption law, President Park’s [...]

50,000 Won Seed Money Blossoms into Success of “Spirits’ Homecoming”

50,000 Won Seed Money Blossoms into Success of “Spirits’ Homecoming”

ASAN, March 23 (Korea Bizwire) – A story of college students majoring in theater donating proceeds from one of their plays to contribute to the production of the movie “Spirits’ Homecoming” was recently revealed to the public. According to Hoseo University and a project team called Dandi, students majoring in theater staged the play ‘Homecoming’, [...]