Ssangyong Motor(President & CEO Lee Yoo-il;www.smotor.com), part of the US$14.4 billion Mahindra Group, announced on April 1 that it has presented 42 students with the first Ssangyong Oneness Scholarship at its main office in Pyeongtaek on March 31.
The Ssangyong Motor Oneness Scholarship Foundation was established with a fund of 150 million won in order to contribute to the community under the Labor Agreement which concluded last year.
The foundation aims to give back to the local community as well as nurture underprivileged, talented students by providing them with educational opportunities.
This year, a total of 42 students (25 middle school students, 15 high school students, and 2 college students) were selected to receive the scholarships which ranged from half a million won to 4 million won. The beneficiaries joined a tour of the company’s main factory after the awards ceremony.
In addition to the scholarship foundation, Ssangyong Motor has conducted a variety of social contribution activities and volunteer programs, such as delivery of coal briquettes to less privileged neighbors, sponsoring the Pyeongtaek Port International Marathon and the Pyeongtaek Environmental Festival, donation of books to elementary schools, and the ‘One stream by One company’ campaign.
Lee Yoo-il, CEO of Ssangyong Motor, who also serves as a co-representative of the Ssangyong Motor Oneness Scholarship Foundation, said, “Ssangyong, in consultation with the labor union, established this foundation to support local students and provide educational opportunities to the less privileged. We will provide scholarships every year and look for ways to increase our support to the local community in diverse areas.”
Kim Gyu-han, the Head of the Ssangyong Workers' Union and a co-representative of the foundation, commented, “We have instituted this foundation as a gesture of appreciation towards local residents who joined hands with us to help revive Ssangyong Motor. I hope that our fund helps local students in financial need.”