NewsMacroKorea's Big Four Conglomerates Pledge 7 Billion Won for Heavy Rain Relief in Southern Regions

Korea's Big Four Conglomerates Pledge 7 Billion Won for Heavy Rain Relief in Southern Regions

Author: Korea Herald Business·

Key Takeaways

  • •Samsung is making the largest single contribution of 3 billion won through nine affiliates and will additionally supply 1,000 emergency relief kits and 300 temporary shelters.
  • •SK pledged 2 billion won through the Community Chest of Korea, while its affiliates are providing volunteer kits, phone-charging stations, portable batteries, and Wi-Fi and IPTV at temporary shelters.
  • •Hyundai Motor Group and LG each donated 1 billion won to the Korea Disaster Relief Association, with Hyundai deploying three laundry-relief vehicles and offering up to 50 percent discounts on repairs for damaged vehicles.
  • •The rainfall from Aug. 15 through Thursday triggered at least 187 landslides in Geoje and Tongyeong, according to the Korea Forest Service.
  • •The four groups made comparable multi-billion-won recovery commitments following Korea's major floods in 2022 and 2023.
Korea's Big Four Conglomerates Pledge 7 Billion Won for Heavy Rain Relief in Southern Regions

South Korea's four major conglomerates — Samsung, SK, Hyundai Motor Group and LG — have committed a combined 7 billion won ($5.1 billion) to relief and recovery efforts in the country's southern regions, which were battered by heavy rain from Aug. 15 through Thursday. Affiliates across the four groups are also rolling out emergency supplies and services for affected residents.

The downpours triggered at least 187 landslides in Geoje and Tongyeong alone, according to the Korea Forest Service on Friday. The damage extends a run of severe summer flooding in Korea in recent years — including the major floods of 2022 and 2023 — and the latest pledges follow the pattern set after those disasters, when the same four groups made comparable multi-billion-won commitments for recovery.

Samsung is making the largest single contribution, donating 3 billion won through nine affiliates including Samsung Electronics, Samsung C&T, Samsung Life Insurance and Samsung Heavy Industries. The group will also provide 1,000 emergency relief kits and 300 temporary shelters. The donation will support local communities affected by the heavy rain in Geoje and Tongyeong in South Gyeongsang Province, as well as Andong and Uiseong in North Gyeongsang Province. Samsung Card will offer financial relief to customers by deferring payments for up to six months and allowing interest-free installment payments.

SK announced its contribution on Friday, pledging 2 billion won through the Community Chest of Korea — one of the two main channels, along with the Hope Bridge disaster relief association, through which major Korean companies typically route disaster donations — for flood recovery and relief efforts in the southern regions. SK Hynix has supplied 630 volunteer kits to flood-hit areas, while SK Telecom has provided phone-charging stations, portable batteries and relief supplies at temporary shelters in Geoje. SK Broadband has installed Wi-Fi and IPTV services at the temporary shelters.

Hyundai Motor Group made a 1 billion won donation to the Hope Bridge at the Korea Disaster Relief Association on Sunday to support the recovery. The automaker is deploying three laundry-relief vehicles to help residents wash contaminated clothing, and it is offering discounts of up to 50 percent on repair costs for damaged vehicles.

LG has also donated 1 billion won to the Korea Disaster Relief Association, the company said Friday. The group plans to provide emergency kits containing blankets, clothing and daily necessities through the Korean Red Cross. LG has worked with the organization since 2022 to prepare and distribute 2,000 emergency relief kits annually for victims of natural disasters.

On the ground, LG Electronics is operating a mobile service for victims, with its service teams visiting affected households to clean and repair water-damaged appliances. LG Uplus is providing Wi-Fi service and phone-charging support at temporary shelters to help affected residents access telecommunications services.