According to a report by South Korean news outlet "News1" on January 30th, tobacco and alcohol company KT&G (stock code: 033780) has announced that its internally-formed social welfare fund, the "KT&G Imagination Fund," has accumulated over 40 billion Korean won (approximately 30 million USD) in contributions. Since its launch in 2011, employees of KT&G have voluntarily donated a portion of their monthly salaries, which are then matched by the company. Currently, the fund's total amount has reached 43.8 billion Korean won, primarily used to support vulnerable social groups and address urgent social issues.
The "KT&G Imagination Fund" operates through the scrutiny and decision-making of the Fund Operating Committee, offering donation channels such as donation applications and donation markets. Employees have the opportunity to identify social welfare issues and provide support directly. The donation application system helps vulnerable groups gain support from social welfare institutions in multiple areas such as medical aid, housing environment improvement, and education. Additionally, employees can actively participate in the donation market by selecting fundraising projects they wish to support.
The fund has also engaged in diverse sponsorship activities across the country, including assistance to the elderly and disabled, improvement of residential environments, and year-end sharing, through interactions with local community welfare organizations and others at factories and local headquarters.
The "KT&G Imagination Fund" has not only provided assistance to victims of the Gangneung mountain fire and nationwide floods in South Korea, but also extended international aid to earthquake victims in Turkey through the Korean Red Cross. Additionally, the fund has been used to restore the damage caused by forest fires in the Mount Hwahyun area of the northern border region of South Korea, as well as to support the "Imagination Forest" afforestation project aimed at preventing desertification in Mongolia.
Chairman Goh Young-ho of the KT&G Imagination Fund Operations Committee stated, "By participating in the KT&G Imagination Fund, employees have put into practice the concept of 'shared enterprise,' and we take great pride in this. We will continue to fulfill our corporate social responsibility by promoting a culture of voluntary donations.
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