LG Group said Wednesday its executives will donate a combined 10 billion won ($8.8 million), including 7 billion won from chairman Koo Bon-moo’s personal fortune, to a government-initiated fund supporting young jobseekers.

LG is the latest to join the youth employment fund following other big companies such as Samsung, Hyundai Motor and SK.

“We want to support the fund that aims to help expand job opportunities for young people and strengthen their job safety,” the group said in a press release.

LG said it also plans to expand its own industrial-educational cooperation programs across affiliates.

The group has operated curriculums in partnership with 10 colleges to offer on-site experiences and support their employment.

The group recently signed agreements with an additional eight colleges nationwide for the program. 

The group said it is also seeking to create jobs for youngsters in North Chungcheong Province where it operates a creative economy center as a start-up accelerator.

By Lee Ji-yoon (jylee@heraldcorp.com)