The Chung Mong-koo Foundation, funded by the Hyundai Motor Group chairman, announced Tuesday a new charity program that will provide a combined 10 billion won ($8.8 million) to 20,000 low-income households from October.

The new fund will focus more on those who have fallen into the dead zone in regards to government welfare programs, including senior citizens living alone, orphans, low-income multicultural families and North Korean defectors.

The foundation plans to continue the support for up to one year so that those receiving the funds can have some stability until they settle in a new job.

A selected 10,000 households will be provided with 200 kilograms of rice for one year starting October. For another 10,000 households, the foundation will build new heating systems and offer necessary items such as electric mats and stoves.

The beneficiaries will be selected in September in cooperation with welfare facilities and community centers under the leadership of the Ministry of Health and Welfare. They also can apply for the support via the foundation’s website.

The foundation also plans to purchase rice and other key items through “social enterprises” ― organizations that use commercial strategies to bring improvement to society and the environment ― to share more benefits with smaller firms.

“The new project is aimed at offering real, long-term help to low-income households for them to seek a new life,” said a foundation official.

The Chung Mong-koo Foundation was launched in November with the Hyundai chief contributing 500 billion won ― the largest individual donation here.

The foundation announced a five-year plan in five key sectors such as nurturing talented human resources, offering scholarship for college students, creating jobs for youngsters, supporting public medical services and welfare benefits.

By Lee Ji-yoon (jylee@heraldcorp.com)