Hanwha Group said Sunday it will contribute 4 billion won ($3.47 million) toward a public trust fund created by the South Korean government to ease youth unemployment.

Hanwha chairman Kim Seung-youn will donate 3 billion won while group employees will give 1 billion won toward the so-called Youth Hope Fund, proposed by President Park Geun-hye in September to develop job creation and training programs for young people.

“The group chairman decided to support the national-level effort to overcome the issue of youth unemployment and help our future generations gain a better footing in society,” said a Hanwha spokesperson.

Hanwha’s contribution comes after Samsung’s bedridden chairman Lee Kun-hee donated 20 billion won and Hyundai Motor chairman Chung Mong-koo donated 15 billion won to the fund last month.

Meanwhile, Hanwha has pledged to create 17,500 new jobs by 2017, as it seeks to enlarge its recruitment scale in line with its business expansion.

The conglomerate said it created 1,000 new jobs this year after newly completing a 1.5GW solar plant in Jincheon and a 500 MW solar module plant in Eumseong, doubling its recruitment in the latter half of this year.

By Sohn Ji-young (jys@heraldcorp.com)