LG Chem launches social activity through energy business
LG Chem Vice President Park Jun-sung, left, poses with officials from the Seoul Metropolitan Government and Chest of Korea after signing an agreement to jointly launch social responsibility activities at the Seoul City Hall, Monday. / Courtesy of LG Chem
By Yoon Sung-won
LG Chem, the nation’s leading chemical and materials manufacturer, said Monday it will push for social responsibility activities under cooperation with local government and a social welfare organization.
The company said it has signed an agreement with the Seoul Metropolitan Government (SMG) and the social organization, Chest of Korea, on Monday, to jointly operate a charity project called “Green Partnership.” Under this partnership, LG Chem pledged to invest a total of 3 billion won ($2.56 million) by 2020.
“We believe the Green Partnership project will set a foundation that the public and private sector together will support those in need,” LG Chem Vice President Park Jung-sung said. “We will continue to expand the charity by establishing the Green Partnership with other regional governments in the future.”
The company said it will tap into its business expertise in the eco-friendly energy sector in this charity activity. It said the Green Partnership project consists of a solar energy business and a green remodeling business.
For the solar energy part, the company will build solar power generating panels at public areas such as parks run by regional governments and donate profits to the underprivileged.
In the green remodeling business, the company will install insulation at social welfare facilities and build green areas on the roofs of such buildings, aiming at reducing energy consumption and expenses.
LG Chem said it will first support 750 million won for the joint eco-friendly energy business with the SMG to build solar power plants in the capital city by the first half of 2016.
“The Green Partnership project is not just a one-time provision of supplies,” the company said. “The project is LG Chem’s unique, semi-permanent corporate social responsibility activity that first invests money in solar power plants to raise funds to re-invest in troubled neighbors.”