Zuellig-Pharma-Nomura-Eukor-reluctant-to-donate-in-Korea

Foreign companies here donate far less than Korean counterparts

Zuellig Pharma Korea chalked up 1.02 trillion won ($880 million) in 2019. But the Seoul-based company donated just 1 million won ($860), according to a business tracker here.

CEOScore recently announced how much 43 foreign companies among the top 500 firms here in terms of sales donated last year.

A total of four companies donated less than 20 million won ($17,000), with Zuellig Pharma Korea topping the infamous list.

The outfit’s yearly donation amounted to 4 million won ($3,400) in 2017, and 3 million won ($2,600) in 2018. Zuellig Pharma is one of the largest healthcare services groups in Asia.

Comments from Zuellig Pharma Korea were not available.

Nomura Financial Investment came in at second with 14 million won ($12,000), followed by EUKOR, a specialized shipping line, with 16 million won ($14,000) and Fubon Hyundai Life with 18 million won ($15,000).

A few companies did not disclose how much they donated. Included in the group are OB Brewery, a Korean brewery owned by AB InBev, and Novelis Korea, a powerhouse in aluminum rolling and recycling.

Compared to Korean firms, foreign companies here are typically reluctant to donate,” CEOScore chief Park Ju-gun said. “That’s why they sometimes come under criticism that they care only about profits here.”