Samsung Electronics tops corporate donations among Korea's leading companies

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Samsung Electronics tops corporate donations among Korea's leading companies

The Samsung logo is seen at Samsung Electronics' office in Seocho District, southern Seoul, on Oct. 14. [NEWS1]

The Samsung logo is seen at Samsung Electronics' office in Seocho District, southern Seoul, on Oct. 14. [NEWS1]

 
Samsung Electronics posted the largest amount in corporate donations this year, while SK hynix recorded the biggest increase from a year earlier, according to an industry report on Wednesday.
 
CEOScore, a corporate data research firm, analyzed the donation disclosures of 218 companies among the top 500 by revenue. It found that cumulative donations through the third quarter this year reached 1.17 trillion won ($798.4 million), up 3.6 percent year-on-year, an increase of 48 billion won.
 

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Samsung Electronics donated the most, contributing 110.4 billion won in the first three quarters this year, although this amount was 30.8 billion won lower than during the same period last year.  
 
Korea Electric Power Corporation followed with 109.2 billion won, then Hyundai Motor with 106.9 billion won, SK hynix with 59 billion won, Kia with 56.1 billion won, Posco with 47.8 billion won, LG Household & Health Care with 34.5 billion won, HD Hyundai Heavy Industries with 32.1 billion won and Korea Hydro & Nuclear Power (KHNP) with 30.7 billion won.
 
SK hynix saw the largest increase in donations. Its cumulative amount in the third quarter rose from 41 billion won last year to 59 billion won this year, an increase of 43.7 percent or 18 billion won. The company recently posted record operating profit in the third quarter this year thanks to surging demand for high-bandwidth memory and rising prices for general purpose memory chips.
 
KHNP increased donations by 15.6 billion won, Posco by 13.6 billion won, HD Hyundai Samho by 12.3 billion won and Posco Holdings by 11 billion won.
 
Donation trends varied sharply by industry. The shipbuilding, machinery and equipment sector saw operating profit jump 71.1 percent, and donations increased 21.8 percent, a rise of 23.3 billion won. Steelmakers lifted donations by 40.3 percent, or 18 billion won, while also recording a 13.5 percent increase in operating profit.  
 
In contrast, the petrochemical sector, which is undergoing industry-wide restructuring amid a downturn, reduced donations by 39.4 percent, a decline of 20.9 billion won. The construction and building materials sector cut donations by 26 percent, which amounted to a reduction of 16.5 billion won.


This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY NA SANG-HYEON [[email protected]]
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