Diageo to open foundation for needy

Diageo Korea CEO Kim Jong-woo speaks at a press conference in The Westin Chosun Seoul, downtown Seoul, Tuesday. / Courtesy of Diageo Korea

By Cho Mu-hyun

Diageo Korea, the No.1 whiskey seller in the country, announced Tuesday that it will spend 5 billion won over the next five years, to fund a foundation to help the underprivileged.

In cooperation

with the Ministry of Gender Equality and Family, the foundation, tentatively named the Diageo Korea Foundation, will commence activities from July 1 to provide financial support to socially-marginalized people, including unmarried mothers.

“The foundation, instead of just providing financial support, will actively assist those who need society’s help to stand up for themselves,” said Diageo Korea CEO Kim Jong-woo at a press conference in The Westin Chosun Seoul, in downtown Seoul.

Company officials said launching the foundation was part of Diageo’s “Plan W” for the Asia Pacific area, announced earlier this year. Diageo plans to spend $10 million until 2017 to support the education of 2 million women in 17 countries in the region.

The main goal of Plan W is to empower women, so that they can participate in economic activities of society. The money raised for the Diageo Korea Foundation will be separate though under the same goal, said the CEO.

“We looked for ways to contribute to Korean society after the announcement of Plan W for the Asia Pacific region,” said Kim.

“We believe that the inauguration of the foundation, a major addition to our already existing support for the visually impaired and those over 65 years old that are breadwinners for their grandchildren, will allow Diageo Korea to uphold its responsibility as a better corporate citizen,” he added.

The CEO said the foundation and Plan W will both be implemented in Korea.

The company said around 1 billion women globally are expected to actively take part in economic activities over the next ten years. The rate of increase in Korea was relatively lower, said officials, and the firm wanted to facilitate inevitable changes and help prepare women for this transition.

Diageo, together with the Ministry of Gender Equality & Family, plans to offer job counseling and run a call center for women in need of financial independence. The ministry said in a statement that it “welcomed the forming of the Diageo Korea Foundation” and expressed hopes that the company will become a good partner for socially marginalized women. It is the first time the ministry is collaborating with an alcoholic beverage seller here.

The company also plans to take the occasion to better structuralize its program for single parent households and the visually impaired it has provided audio books for. It recorded audio books at its studio and donated them to the visually impaired, for the first time in Korea.

Diageo Korea has been actively beefing up its social responsibility program for the past few years. It requires every employee to spend four hours a month in social activities. “Our employees are proud of their role in helping society, and I believe they will enthusiastically show interest in the programs planned for the foundation,” said the CEO. “We want to be an example for foreign companies doing business here.”