Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Shinhan Card offers libraries for children
Shinhan Card CEO Lee Jae-woo, left in the back row, poses with Future Foundation Chairman Song Ja, second from left in the same row, and children on Apr. 2 during a ceremony to launch the 300th library established jointly by the company and foundation. / Courtesy of Shinhan Card
By Yi Whan-woo
By Yi Whan-woo
Shinhan Card plans to build 50 libraries at child care centers across the country as part of its effort to improve the learning environment for children in poor areas.
The credit service arm of the Shinhan Financial Group set up 291 libraries in child care centers between 2010 and 2012, and donated 1,100 books to each.
The company has built libraries to enhance educational opportunities for elementary and secondary school students from low-income households and rural areas, as well as to provide community centers for both children and older residents in underprivileged regions.
The firm has established the libraries in a joint effort with the Kids and Future Foundation, a civic group that supports children.
Aside from constructing libraries, the company and foundation introduced a mentor system last year in which volunteer college students teach younger children to become active readers.
Another charitable effort of the company is the “Beautiful Card,” a credit card that enables cardholders to accumulate points and use them to make donations. Cardholders can donate up to 0.8 percent of their points to certain charities.
Shinhan Financial Group has held a number of volunteer events, with a total of 14,495 Shinhan employees donating their time in 2012. Shinhan Card CEO Lee Jae-woo led 92 volunteer service teams that worked on a variety of charitable events, which included cooking for seniors, gardening and escorting mentally challenged teens to outdoor events.
Many employees also donate 10,000 won or more each month from their salaries. Every month for the past five years, the employees have donated about 10 million won from their paychecks, which helps pay for children’s medical expenses.
Family members of employees, as well as Shinhan Card’s customers, now also contribute to the company’s charitable fund.