GS Group and Hyundai Donate W4 Billion for Ferry Victims

D-Bo , May 27, 2014, 10:53 a.m.


GS Group and Hyundai Heavy Industries donated W4 billion or about $3.9 million each to the Community Chest of Korea to help victims of the ferry disaster.  The donated funds will also be used toward improving safety infrastructure. 

The move came after the country's five major business lobbies agreed to establish a fund for the causes on May 20. Eight corporations have donated a combined W54 billion so far.

GS chairman Huh Chang-soo, who also heads the Federation of Korean Industries, offered his condolences to the families of the victims and expressed hope that the fund will revive hope for them and the country as a whole.

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