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Sunday, August 28, 2011

PHILANTHROPY: Hyundai boss gives $462 mn to charity!

For LEED Consultancy / IGBC Certifications, Green Building Design, Green Homes, Green Factory Buildings, Green SEZs, Green Townships & Energy Audits - / Updated on Sunday, August 28, 2011, 16:07.

Seoul: South Korean auto giant Hyundai Motor Sunday said its Chairman Chung Mong-koo has donated USD 462 million to charity as part of a pledge he made in 2006 while being investigated for corruption and breach of trust.
The donation of 500 billion won (USD 462 million) to Hyundai Glovis, the foundation set up in 2007 by Hyundai Automotive Group, is the biggest-ever charitable contribution made by an individual in South Korea, Hyundai Motor said.

The money will be used for scholarships for children from low-income families, the company said.

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