GS Holdings donates 4 billion won to Community Chest of Korea

GS Holdings Chairman Huh Tae-soo [GS HOLDINGS]

GS Holdings donated 4 billion won ($3.07 million) to the Community Chest of Korea, the company said Tuesday.

The money will be used to help people who are financially struggling.

The company has been annually donating money to the Community Chest of Korea around the end of year since 2005, donating a cumulative 68 billion won as of this year.

GS Holdings said it will continue to make donations, also helping the community in other ways such as focusing on climate change problems.

“To become a good and sustainable company, we need to contribute to the economy and society,” said Huh Tae-soo, chairman of GS Group, in a statement.

GS companies have been making various donations.

In August, GS Retail donated 100 million won to Good Neighbors, a non-governmental organization, to help child abuse victims. GS Shop, an online shopping mall run by GS Retail, donated clothes, shoes and other products worth 110 million won in July to BeautifulStore Foundation to sell at its charity stores.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]