Samsung and SK Group among Korean companies announcing aid for Ukraine
SEOUL, March 7 (UPI) — South Korean companies including Samsung Electronics and SK Group have joined global efforts to support Ukraine amid an invasion by Russian forces.
Samsung Electronics, the world’s largest maker of smartphones and memory chips, announced on Saturday that it would donate $6 million to relief efforts for Ukrainian refugees.
“We are cooperating with international organizations to provide humanitarian aid to Ukrainian refugees. We have decided to donate $6 million to organizations such as the Ukrainian Red Cross,” Samsung said in a statement.
The donation includes $1 million in consumer electronics.
The SK Group pledged on Thursday to donate $1 million to help war-affected children in Ukraine. The Polish unit of SK IET, a subsidiary of the group, plans to deliver the money.
“As part of our philosophy of pursuing social values, we have chosen to take immediate action to provide humanitarian aid to children,” SK Social Values Committee head Lee Hyung-hee said in a statement. .
South Korean internet giant Kakao Group on Friday announced plans to send $3.5 million worth of its KLAY cryptocurrency to Ukrainians.
Hyundai Motor, South Korea’s largest automaker, has not announced support for Ukraine. Russia is one of its main export destinations.
According to the Korea Investors Service, Hyundai Motor and its sister company Kia accounted for 22.7% of the Russian car market last year, after Renault-Nissan’s 33.8%.
“Russia is a very important market for Hyundai. It also has a factory in St. Petersburg with an annual capacity of more than 200,000 cars,” Leaders Index CEO Park Ju-gun told UPI News Korea. “Therefore, it would be very difficult for Hyundai to help Ukraine.”