Korean Re has been strongly committed to the value of corporate social responsibility. In addition to doing good business, we seek various charitable ways to do good things for the communities where we live and work, making a positive impact on society. Our success as a company will be driven not just by how well our business is operated commercially, but also by how well we support the communities in which we operate.
Recently, there was a temporary suspension of our in-person participation in volunteering projects due to COVID-19. Despite a reduction in the physical time we spent on volunteering works, we have continued our support for good causes. Besides the programs we have been already supporting, we started to engage in several new initiatives in 2020. For instance, we began sponsoring Seoul Rehabilitation Center for the Cerebral Palsied in February 2020, which was established in 1990 to support those suffering from cerebral palsy and help improve their quality of lives. In particular, the financial resources we contributed were used for purchasing specialty medical beds for cerebral palsy patients.
Korean Re also signed an MOU with Korea Association for Suicide Prevention in September 2020 to support a suicide prevention program for high school students. Korea has the highest suicide rate among OECD members, and suicide is the leading death cause among teenagers. Recognizing the severity of suicide and mental health issues in Korea, we will continue to sponsor the program with a view to reducing suicides and suicide attempts among young students and raising awareness of suicide prevention and early intervention.
Another new program that we started to support involved the strengthening of social safety net in a community where Korean Re’s head office is based. Specifically, we provided financial support for the installation of fire prevention equipment or devices such as smoke detectors at places that are vulnerable to fire events in the community. Our support was also intended to help people on welfare buy a government-sponsored personal accident insurance.
(Re) insurance is all about helping people, communities and businesses in times of distress and protecting them against unexpected events. This is what Korean Re is committed to. We will continue to do good things for society and live up to our corporate social responsibility, while doing good business to support our clients and stakeholders.
Korean Re CEO Jong-Gyu Won (Right) is visiting the Jongno-Gu Office to make a commitment to becoming a part of its project to strengthen social safety net in the community.