Hanwha Group has pledged to donate $1 million to fraternities of former South Korean and US soldiers in a display of support for the alliance, company officials said Tuesday.

The Seoul-headquartered conglomerate signed a sponsorship agreement with the Korea Defense Veterans Association and the Korea-US Alliance Foundation at a dinner event Monday in Seoul, according to Hanwha Techwin, the group’s defense arm. The corporation started out as a gunpowder and explosives maker in the 1950s.

The KDVA was formally established last month in Washington as an association of about 3 million soldiers who served in the US Forces Korea, the Combined Forces Command and the Korean Augmentation Troops to the US Army, better known as KATUSA.

The foundation was launched in late April in Seoul to support the fraternity and alliance. Its members include not only veterans but also former diplomats and other policymakers and businesspeople.

“I thank all Korean and American soldiers for the hard work and sacrifice to defend the peace and democracy of South Korea from the North’s threats since the Korean War,” retired US Army Gen. Walter Sharp, who served as the USFK commander and currently chairs the KDVA, was quoted as saying by Hanwha officials, expressing gratitude to the company.

By Byun Hee-jin (hjbandi9@heraldcorp.com)