Samsung is establishing a fund of 200 billion won to support financially vulnerable individuals and small business owners.
On July 16, Samsung announced it will contribute a total of 200 billion won to the Samsung Microfinance Foundation. Samsung Electronics will provide 150 billion won, while its financial affiliates, including Samsung Life, Samsung Fire & Marine Insurance, Samsung Card, and Samsung Securities, will jointly contribute 50 billion won.
This contribution follows Samsung Electronics' announcement in May of a plan to expand its social contributions to 5 trillion won over five years, made after a labor-management agreement.
The funds will be used through the Samsung Microfinance Foundation to support operating capital, startup funds, and emergency living expenses for financially vulnerable individuals and small business owners. Loans will be provided without collateral or guarantees, with interest rates set at 4.5% or lower. Samsung estimates that around 40,000 individuals will benefit from this initiative.
Previously, Samsung Electronics held the 'Samsung Electronics Audit Festival with the Public' last month, where a portion of purchase amounts was refunded in Onnuri gift certificates. The company anticipates that the benefits from the Onnuri gift certificates, initially estimated at around 400 billion won, will double due to customer response.
Industry observers note that major companies are increasingly shifting their social contributions from one-time donations to sustainable support methods, such as financial assistance and revitalizing local economies.
A Samsung official stated, "We will support the economic independence and stable lives of vulnerable groups through expanded financial assistance, and we will continue to practice the value of inclusive finance for marginalized neighbors."
* This article has been translated by AI.
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