By Kim Tae-jong
Hyundai Motor Group, the country’s largest carmaker, said it will extend financial assistance and continue its campaign of providing vehicles to selected low-income earners planning to start their own business. The struggles of small shop owners and self-employed people, results of a job market in decline, have been posing a threat to the country’s financial stability and Hyundai is one company focusing on these problems through their efforts in corporate social responsibility (CSR) efforts.
This is the third consecutive year that Hyundai-Kia has been running its ``Gift Car Campaign,’’ in which it picks out a group of applicants who are provided with passenger cars, vans and trucks to be used for their businesses. The company is also providing low-cost loans and other financial programs to help them start out as entrepreneurs.
In the first year of the program in 2010, the company offered cars to six people and organizations, including Cha Sa-soon, a 70-year-old woman who took the driver’s test 960 times before she finally passed, and to Seunggawon, a Buddhist welfare facility for the disabled.
The company provided 30 cars last year and widened financial assistance and expects to deal out the same number of cars in this year’s program. Selected applicants will receive the vehicles between October and February.
Vehicles that will be given include Hyundai Motor’s 1-ton truck, the Porter, the Starex van and Kia’s small-sized passenger car, Ray.
“We want to give hope to our neighbors who have the ability and passion for running their own business but lack the financial basics,” an official from the group said. “This campaign hopefully can deliver the message that people will have a better future.”
“We will give a successful candidate a vehicle fit for their business and also offer them car registration tax and auto insurance premiums worth about 2.5 million won,” the official said.
The group will also provide successful candidates with financial aid worth 5 million won which can be used to open their own business as well as other practical assistance such as education and consulting programs to additionally help them. It will also help them take out loans at low interest rates in association with Hyundai Motor Group Smile Microcredit Bank.
Applications can be accepted until Dec. 15 through e-mail or by post. For more information, visit www.gift-car.kr.
Winners will be selected by a jury consisting of officials from Hyundai Motor Group, Hyundai Motor Group Smile Microcredit Bank and a business consulting firm, who will review applications and interview applicants.