LS Cable & System donated 500 million won ($420,877) in scholarship funds to Donghae City as part of the company’s efforts to help foster local talent.

LS C&S President and CEO Myung Roe-hyun delivered the donation to Donghae City Mayor Shim Kyu-eon in a ceremony held Wednesday last week, the company said.

“Donghae is the cradle of our submarine and extra-high-voltage cables, which are the core products of LS C&S’ global business,” Myung said.

“As a local company, we decided to donate the scholarship funds for joint development with the community.”

LS C&S has invested more than 400 billion won in Donghae City, having built a submarine cable plant there in 2008 and begun construction on a second plant this month.

The company said it was committed to developing the Donghae site as its outpost in Gangwon Province, calling it the center of cooperation with the northern economic zone as well as inter-Korean economic cooperation.

LS C&S is actively engaged in diverse support programs to benefit the local community, such as talent donations by employees and direct fostering of future talent. The company has been working with Kangwon National University to provide job training programs and also offers an “LS dream science class” for elementary school students.

Employees have also offered free electrical safety checkups for nearby traditional markets, the company said. 

(khnews@heraldcorp.com)