A number of employees of Hyundai Oilbank Daesan Oil Refinery Plant are seen each holding a gift pack which were bought with the fund made with 1 percent of their salaries donated for social services at the Byol, Byol(All Kinds of Rudolph) Meeting they held near Christmas last year before visiting a welfare facility. (Photo: Hyundai Oilbank)

Hyundai Oilbank has been looking after its neighbors with a fund made up with 1 percent of the monthly salaries of each of its officers and staff, which have been donated since October 2011. All members of its labor union participate in the charitable move to contribute to the growth of society’s giving culture.

A board with outside directors manages Hyundai Oilbank’s 1 Percent Sharing Foundation in a transparent and fair manner, while its Operation Committee is made up of members of the headquarters office and representatives of the union, which meets regularly to provide model social contribution services, dutifully reflecting various opinions of every officer and staff of the company.

All service stations affiliated with the oil company also joined the movement and started to donate 1 percent of their monthly net profit from 2014. They put up a sign board reading “One Percent Sharing Service Station,” so customers would appreciate their charitable deeds and also help to steer the private service stations around them to participate in the movement.

The foundation has been helping needy people in a number of ways, including providing them with meals, free supplies of heating oil to the low-income families in the name of “Love Heating Oil,” and overseas educational support projects for under-developed countries around the world.

The One Percent Sharing Dining Room has been a representative social contribution service for Hyundai Oilbank thru which the company provided 50 million won annually to each of the selected welfare facility providing welfare services for its 300 members who are 65 years in age and older on average.

The welfare facility operates 5 dining rooms in Seoul, Daejeon and Seosan and the Seoul office and Daesan plant employees have been visiting those welfare facilities with gifts on Christmas and at year-end every year holding such events as “Byol, Byol (all kinds) Santa,” and “Byol, Byol (all kinds) Rudolph.”

The company has also been supplying heating oil to the needy families worth around 400 million won free of charge every year, in addition to the projects to repair the educational facilities in isolated regions in under-developed countries.

From 2013, Hyundai Oilbank built kindergartens, primary schools, and children’s libraries in Vietnam. The company built a middle school in the Gorka region in Nepal in March, this year.

Hyundai Oilbank’s social welfare services have not been limited to the Salary One Percent Sharing Service. The oil company has also been providing social contribution services to diverse areas in and around Daesan, South Chungcheong Province, where its oil refinery is located; Every year, the company bought 1 billion won worth of rice produced in the farms in the region and donated them to the needy neighbors; the company has also been freeing 200 million won worth of baby rockfish in the sea around the Samkilpo every year for about 10 years to help the fishing communities in the area to make both ends meet.

The company also set up a scholarship foundation to provide 100 million won worth of scholarships to the children of economically distressed families in the area, while another 50 million won was given to students with excellent curricular records and the needy students to meet their school expenses.

The company has also been holding the university admission explanation sessions for the students about to take the college admission exams and their families the Seosan region where more educational infrastructures need to be built, along with other diverse social welfare services including cultural events such as drama theaters.

The company has also been providing snow plows during the winter to remove snows, along with other social service events to improve residents’ welfare programs.