Samsung’s chairman donates 20 billion won for youth fund

Samsung chairman, Lee Kun Hee. (AP Photo/ Lee Jin-man, File)

Lee Kun Hee, Samsung’s chairman, announced that he donated 20 billion won for “Hope for Youth” fund aiming to provide more job opportunities for youth.

Some of Samsung’s executives and presidents are expected to donate 5 billion won to the fund as well. Lee Joon, head of communication team in Samsung, said that they decided to donate 25 billion won for the fund hoping to overcome the social problems the youth face looking for jobs.

Lee is making this donation from his personal belongings. His son, Lee Jae Yong, vice chairman of Samsung, participated in the donations as well, though the amount he donated remains unknown.

“Hope for Youth” fund was established through volunteering donations aiming to help youth looking for jobs and starting their lives. President Park Geun Hye suggested establishing this fund last September, being the first one to donate in it.