Korean firms assisting relief efforts
S-OIL provides petroleum products on request from Japanese companies
By Kim Da-ye
Big players of Korea Inc. are reaching out to help victims of the Japanese earthquake and their foreign partners.
Hyundai Motor Group said Thursday it has given 100 million yen to the Korean Red Cross to pass onto its Japanese operation.
Chairman Chung Mong-koo sent letters of consolation to its partners in Japan including JFE Steel.
Samsung Electronics was among the first conglomerate donors, giving 100 million Japanese yen (about $1.27 million) through its Japanese unit Tuesday.
The firm also provided 2,000 sets of relief goods including blankets, underwear and toiletries while some 10 volunteers from Samsung Medical Center will be dispatched to Japan.
LG also sent through its Japanese unit 100 million yen and comforting messages to its close partners including Hitachi, Toshiba and Panasonic. The group will also collaborate with aid agencies to provide earthquake victims with daily necessities.
Another 100 million yen came from SK Group on Wednesday to the Korean Red Cross for relief efforts there.
POSCO contributed the same amount through its Japanese arm while its employees are collecting donations separately.
The Kumho-Asiana Group said it will contribute 60 million yen to Japan’s Miyagi, Ibaraki and Fukushima prefectures. Asiana Airlines, Korea’s second-largest airline and a key subsidiary of the Kumho-Asiana Group, has also been providing blankets and food to people from the disaster-struck areas.
Financial firms such as Shinhan Financial Group, many board members of which are Korean-Japanese, donated 100 million yen and Hana Bank gave a half a million yen Tuesday.
The biggest donation, so far, was made NCJapan, a unit of Korea’s largest games company NCsoft that gave 500 million yen or 7 billion won.
S-OIL supported the earthquake-struck Japan by urgently supplying 2.4 million barrels of petroleum products after the firm received a series of requests from Japanese oil companies.
Park Bong-su, executive vice president for marketing, said, “S-OIL decided to provide as much support as possible and has looked into ways to send support in detail, while putting all other export transactions on hold. We increased production fitting Japanese specifications to a maximum, adjusted the supply volumes to other customers and slashed operating inventory levels so as to secure the highest possible volume to help Japan.”
Korean Air loaded Thursday a Japan-bound passenger plane with 60,000 1.5-liter water bottles and 2,000 blankets for the earthquake victims.
KT, the nation’s largest fixed-line operator, will provide free satellite phones to rescue teams dispatched to the affected areas.
Most Korean firms donated 100 million yen or 1.4 billion won, significantly less than the amounts to China after the great Sichuan Earthquake in 2008. Samsung, for instance, gave 30 million yuan or 4.5 billion won.