Hyundai Motor to Help Cheonan Victims

By Kim Tae-gyu

Staff Reporter

The Hyundai-Kia Automotive Group, the country's second-largest conglomerate, will financially underpin the distraught families of the frigate Cheonan disaster, which sunk in the West Sea late last month.

The Haevichi Social Contribution Culture Foundation affiliated with the group said Friday that it will provide support to the children of the 46 sailors who died in the Cheonan tragedy or remain missing. A total of 38 bodies have been found thus far and eight are still missing.

Eligible children will get 600,000 won every year from the Seoul-based foundation when they enter elementary school and the amount of annual support will increase to 800,000 won during middle school and 1.2 million won for high-school students. College students will receive 4 million won per year.

Haevichi also plans to offer them tickets to cultural performances twice a year.

``We express our deep condolences to the Cheonan crew members, who dedicated their lives to the nation, and express sorrow for the loss to their families. We will not forget about their sacrifice and will help their children grow to become respected members of society,'' said a Hyundai representative.

The Heavichi Foundation was set up in late 2007 by the Hyundai Automotive Group, which is headed by Chairman Chung Mong-koo, to sponsor various corporate social responsibility programs.