[THE INVESTOR] A total of 255 companies spent 2.92 trillion won (US$2.63 billion) last year to support underprivileged people, according to the report by the Federation of Korean Industries on Sept. 26.

The corporate social responsibility funds were provided to social welfare programs that range from scholarships and day care centers to parks and welfare facilities.

The figure represents a 6.8 increase from 2.71 trillion won in 2014, according to the FKI. The contributions come as many South Koreans called for corporate social responsibility in recent years amid widespread perception that conglomerates are to blame for the wealth gap.

“Companies are now acting in a leading role of not just making contributions and donations but also participating in various activities that can actually lead to changes in society,” said Lee Yong-woo, an FKI official.

About 30 percent of the contributions were made to help those unprivileged, while the remainder were donated for academic research, disaster relief, environmental conservation and culture, the FKI said.

(theinvestor@heraldcorp.com)