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Posted : 2012-12-27 07:09
Updated : 2012-12-27 07:09

Corporate social contributions top 3 tril. won last year

More than 200 Korean companies spent over 3 trillion won ($2.7 billion) last year to support underprivileged people, a survey showed Thursday.

The contributions come as many South Koreans called for corporate social responsibility in recent years amid widespread perception that conglomerates are to blame for the wealth gap.

A total of 222 companies provided 3.12 trillion won to social welfare programs that range from scholarships and daycare centers to parks and welfare facilities, the Federation of Korean Industries said, citing its survey conducted between August and October.

The figure represents a sharp increase from 1.08 trillion won in 2002, according to South Korea's largest business lobby.

The survey also showed that eight out of 10 CEOs said they would keep contributions at the current level or expand them despite the recent economic slowdown.

Out of the 222 companies the 16 companies that posted losses last year did not reduce their contributions, according to the FKI. (Yonhap)

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