Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
HD Hyundai foundation supports families of shipyard accident victims
HD Hyundai Chairman Kwon Oh-gap / Courtesy of HD Hyundai
By Park Jae-hyuk
For the first time since its launch in September last year, the HD Hyundai HeeMang Foundation has begun covering living expenses for families of shipyard accident victims.
HD Hyundai said Tuesday that nine families of deceased shipyard workers began receiving financial support from the foundation at the HD Hyundai Heavy Industries guesthouse in Ulsan. The amount each family received was based on the number of family members.
The foundation plans to cover these families' living expenses every month through the end of September next year, conducting annual reviews to determine whether to continue the support.
According to HD Hyundai, this is the nation’s first foundation to provide financial support for families of shipyard workers who died on the job.
The foundation was established with funds donated by HD Hyundai Chairman Kwon Oh-gap, who contributed his own money to fulfill the company’s responsibility as the world’s leading shipbuilder. The name “HeeMang,” meaning “hope” in Korean, reflects the organization’s mission.
“I deeply sympathize with the pain experienced by families who have lost loved ones to industrial accidents,” said Lee Ki-kweon, chairman of the foundation. “We will continue our support so they do not lose hope even in the face of financial hardship.”
In February, the foundation awarded scholarships to three children of workers who died in shipyard accidents. It also plans to cover medical expenses for bereaved families and assist them in accessing legal services.