[Sponsored Report] Serving community as good corporate citizens
A leading global icon in the financial industry, Citibank Korea is leading the way in corporate social responsibility in Korea.
“Citi, It’s Different” is Citi Korea’s motto, which is anchored in the company’s actions.
People’s hearts and minds are being won over as Citi Korea approaches clients in a different manner and grow the business as a profitable and sustainable corporate citizen, working as one team and serving the community.
The top priority for Ha Yung-ku, CEO of Citigroup Korea Inc., the financial holding company, and CEO of Citibank Korea Inc., is customer satisfaction, profitable business growth, employee morale and good corporate citizenship.
Citibank Korea’s corporate social responsibility has been enhanced in the areas of financial and next-generation education, women and diversity, community development and in the environment through partnerships with respected NGOs, universities and institutes.
Another Citi Korea program is the “Think Money” financial education program. Partnering with YWCA Korea in 2006, Citi Korea and its 500 employees have been involved in educating more than 200,000 students in elementary, middle and high schools for more than five years.
Recently, it published Chinese and Vietnamese versions of Think Money textbooks for children of mixed-race families.
Citi has supported the Joyful Union, Korea’s first microcredit organization, for 10 years. Citi has also worked on the Ewha-Citi Global Finance Academy for 10 years, helping 1,200 students benefit from practical knowledge and experiences shared by some 200 financial experts who volunteered from Citibank Korea.
This summer, more than 100 Citi Korea employees left for Inje, Gangwon Province, for “Citi Family Building Houses of Hope.” Each summer, Citi employees voluntarily participate in building houses for neighborhoods. Citi Korea has helped build 21 houses of hope for 13 years.
A few weeks ago, more than 2,800 Citi Korea employees and family members came together to volunteer in 63 activities on Global Community Day. Activities included environmental conservation, clean-up initiatives, financial education and activities to support the poor.
Citi volunteers removed weeds and fertilized pine trees in Namsan Botanical Garden and Seoul Forest. Several hundreds volunteered as artists to paint a wall at Seongdong high school. Many other volunteers spruced up eco-areas for public use.
Citi employees also donated 1,007 items such as clothes, books, golf sets and kitchenware to its NGO partner, the Beautiful Store. Recycling these items will reduce carbon waste. Volunteers worked with the Beautiful Store to run a bazaar that raised 6,931,700 won ($6,200), which will be used to support the poor.
In addition, volunteers delivered 10,200 coal briquettes to help warm 29 low-income households during the winter months, conducted financial education sessions for students using the Citi Foundation-funded Think Money curriculum and painted walls at local high schools.
Citibank started its business as the first foreign bank in Korea in 1967.
As of the end of June 2010, the capital adequacy ratio (BIS ratio) of Citibank Korea is 16.61 percent, the highest among 18 banks in Korea. And its Tier-1 ratio, at 13.75 percent, is the highest among commercial banks in Korea.
At the end of 2009, Citi’s total investment in South Korea reached 5.38 trillion won, making it the largest foreign bank investor in the Korean market.
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