Korea’s business community is coming forward to help those affected by the heavy rains that wreaked havoc across the country this week.
On Friday, some of the country’s largest conglomerates said they would provide money, goods and repair services for those affected by the rains.
Chung Eui-sun (left), vice chairman of Hyundai Motor Group, poses with Han Joong-gwang, chairman of Korea Disaster Relief Association, after donating 5 billion won as a relief fund to help those suffering from rain damages.( Hyundai Motor)
Among them, Hyundai Motor Group put forward 5 billion won ($4.7 million) for the nationwide relief efforts. The auto giant also said it would provide free checkup services on the engine, transmission, ignition and electronic components of vehicles that sustained water damage.
In addition, the company will be operating two trailers fitted with washing machines in affected areas, and distribute food and household necessities.
The company is also offering a 1 million won discount on new light commercial vehicles for those with vehicles damaged in the rains.
Along with Hyundai Motor Group, GM Korea Co. and Ssangyong Motor Co. also began special free checkup campaigns in affected areas.
Local electronics makers have also joined the efforts to help affected citizens regain normality.
On Thursday, LG Electronics sent out a vehicle specially equipped for restoration works, and engineers to service electronic goods.
The company is also sending out teams of engineers to repair large household appliances such as washing machines and refrigerators.
Samsung Electronics set up a service post at a district government office in Geumcheon-gu in western Seoul for repairing damaged goods. As with LG Electronics, the company has also sent out teams of engineers for larger items. Daewoo Electronics Corp. is also offering special services at 30 locations in and around Seoul.
Others including Hyundai Oilbank have sent out employees to lend a hand to recovery efforts.
In addition, CJ Foodville plans to send bread for the volunteer workers, while the convenience store operator GS25 and other retailers have provided food and other items to emergency centers across the country.
Korea’s telecommunications companies are also reviewing plans for providing support measures.
According to industry sources, SK Telecom plans to offer discounts for users in government-designated emergency areas, while KT Corp. and LG Uplus are said to be considering a number of measures.
Meanwhile, local financial firms are rolling over loans and exempting various handing charges for those affected by the recent rains.
The nation’s largest commercial bank Kookmin Bank is offering up to 20 million won as a low interest emergency loan until from Aug. 1 till the end of the year for those who present documents proving that they were affected by the rains.
For small and medium-sized enterprises that sustained water damage, Woori Bank is rolling over outstanding loans, while Industrial Bank of Korea will offer special loans.
By Choi He-suk (cheesuk@heraldcorp.com)