Samsung employees commit to donating $17.6 mn in 2024

[Courtesy of Samsung Electronics]

Samsung employees have pledged to share around 23.3 billion won ($17.6 million) in 2024 by participating in initiatives that involve committing donations to the company’s Corporate Social Responsibility (CSR) programs. The commitment reflects their support for the philosophy espoused by Samsung Electronics Chairman Jay Y. Lee that emphasizes shared prosperity and community engagement.

According to Samsung on Tuesday, major Samsung affiliates opened a CSR section on their intranet on November 15th, 2023, that allows employees to commit to donations. Employees chose a CSR program and pledged specific donation amounts, which will be automatically deducted from their monthly salaries to support their chosen programs throughout the year.

Employees can commit to donating to CSR programs affiliated with their respective companies. According to Samsung, around 70 percent of its total workforce across all affiliates participate in the annual donation commitment. Contributions were predominantly directed towards projects supporting stable housing and employment for young individuals preparing to live independently. A project aimed at assisting middle school students via mentoring by university students and an initiative to prevent cyberbullying also drew significant attention.

To encourage more employee engagement in donations, Samsung operates a matching grant program, whereby the company matches the amount committed by employees to the CSR programs. This effectively doubles the contribution employees make, and the initiatives receive increased support as a result.

The matching grant program originated in 2010 as part of efforts to promote a culture of sharing, and combined contributions from employee donations matched by the company totaled 631.8 billion won from 2011 to 2023.

Samsung employees have also committed to donating their skills and knowledge by directly participating in CSR activities. This talent donation encompasses skill-based mentoring, where employees share their experiences and expertise for career and vocational guidance, as well as learning mentorship, where employees act as instructors to aid beneficiaries’ learning in various CSR events.

Samsung evaluates volunteers applying for talent donation based on their expertise, volunteer experience, and motivation. Samsung plans to double the number of talent donors in 2024 compared to previous years, selecting a total of 1,090 individuals for talent donation programs and expanding the initiatives.

Lee has emphasized social contribution under the keyword ‘co-existence,’ to not only to divide the pie but to enlarge it, encouraging and supporting not only small and medium-sized enterprises but also unlocking the potential of youth and vulnerable populations. This approach aims to elevate society’s latent growth potential beyond mere acts of sharing and charity.