Busan firms donate W150m to Venezuela earthquake relief

Some of Busan's most prominent corporate citizens have stepped up to help Venezuela recover from a devastating earthquake. Busan city will hold a Venezuela earthquake relief donation ceremony and an honorary chairperson appointment ceremony for the Busan Community Chest of Korea at the city hall protocol room at 3 p.m. Tuesday.

The event will be attended by Mayor Jeon Jae-soo, along with Lee Su-tae, chairman of Panasia Co. and current head of the Busan Community Chest of Korea, and former Chest chairs Shin Jeong-taek, chairman of Sewoon Steel Co., and Choi Geum-sik, chairman of SB Sunbo Co. The three companies will each donate 50 million won ($32,600), for a combined contribution of 150 million won, to support earthquake victims and recovery efforts in Venezuela.

The funds will be channeled through the Community Chest of Korea to support emergency relief and reconstruction work on the ground.

On June 24, two powerful earthquakes of magnitude 7.2 and 7.5 struck Venezuela in quick succession, causing widespread casualties, property damage and mass displacement centered on the capital Caracas and the northern coastal region. The disasters have prompted an outpouring of urgent humanitarian aid from the international community.

Panasia, Sewoon Steel and SB Sunbo are longstanding Busan-based companies known for consistent charitable giving and community engagement whenever disasters strike at home or abroad. Notably, the heads of all three firms have served as chair or former chair of the Busan Community Chest of Korea, helping to lead a culture of giving in the region.

Tuesday's event will also include a ceremony appointing Mayor Jeon as honorary chairman of the Busan Community Chest of Korea.

"The warm generosity shown by Busan's businesses today will give the people of Venezuela the hope to rebuild their lives," Jeon said. "As honorary chairman of the Busan Community Chest of Korea, I will do my utmost to ensure that Busan's spirit of solidarity extends beyond its citizens to become a source of hope for the world."