SEOUL, Nov. 23 (Korea Bizwire) – Thanks to record-breaking earnings, Hyundai Motor and Kia Corp. have surpassed Samsung Electronics in charitable donations so far this year, marking a historic first. According to CEO Score, which monitors corporate management activities, a total of 264 out of the country’s top 500 firms by sales collectively donated 1.4 trillion [...]
SEOUL, July 11 (Korea Bizwire) — The government is considering expanding tax benefits by increasing the tax credit rate for charitable donations, aiming to encourage larger contributions. According to government sources, the tax credits for substantial donations will be expanded as part of the official economic policy direction later this year. Currently, the government is [...]
SEOUL, May 9 (Korea Bizwire) — Voices are growing for the need to improve the system to foster regional universities because donations to private universities were concentrated in Seoul last year. According to data from the Korea Advancing Schools Foundation, the combined donation income of the nation’s 192 private universities totaled 408.8 billion won (US$309 [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Koreans are showing compassion through unending support for the victims of the recent earthquake in Turkey. Relief donations from all over the country were gathered in a logistics center in Incheon in response to a call for help from the Turkish Embassy in Seoul. The donations included thick [...]
SEOUL, Feb. 10 (Korea Bizwire) — Major South Korean enterprises, including Samsung, SK and LG, said Friday they were offering donations and relief items to help with efforts to recover from the earthquake that hit Turkey and Syria. Samsung Electronics Co. said it decided to provide support worth US$3 million, including $1.5 million in a [...]
SEOUL, March 7 (Korea Bizwire) — Ukraine’s top envoy to Seoul said Monday his office has raised over US$3 million in donations from South Korea to support Ukrainian efforts in the war against Russia. “We will send some of the donated money directly to the National Bank of Ukraine and use some to buy and [...]
SEOUL, Dec. 21 (Korea Bizwire) — Charity organizations are moving heaven and earth to find creative solutions to overcome the sharp decline in year-end donations resulting from the prolonged pandemic. The Salvation Army plans to host its first-ever K-pop online concert on Sunday. The organization will give online concert tickets to those who make donations. [...]
SEOUL, Nov. 24 (Korea Bizwire) — Large South Korean companies’ social contributions plunged nearly 37 percent in the first nine months of the year amid the coronavirus pandemic, a corporate tracker said Wednesday. CEO Score, which tracks corporate management, said 255 out of the country’s top 500 firms by sales donated a combined 1.01 trillion [...]
SEOUL, Feb. 17 (Korea Bizwire) — Global luxury brands are raking in huge dividends in the South Korean market, while being stingy about making donations. According to the 2019 audit reports of ten foreign luxury brands, their local branches paid 140.2 billion won (US$126 million) in dividends and commissions to their headquarters. The combined sales [...]
SEOUL, Sept. 24 (Korea Bizwire) — COVID-19 is weighing heavily on charities this Chuseok season, with funds drying up and volunteers slow to offer their services due to fear of the virus. Chuseok, the Korean equivalent of Thanksgiving, falls next Thursday this year at a time of heightened vigilance over the possible further spread of [...]