Hyundai Chairman Donates $462 Million, Breaks Korean Donation Record

Korea’s top businessmen are rallying to make personal donations as Hyundai Motor Group Chairman Chung Mong-koo launched his own initiative on Sunday.

Chung donated 500 billion won ($462 million) of his personal funds to the charity group Haevichi Foundation, making the nation’s biggest-ever contribution by a single person.

His donation is meant to create programs nurturing young talents from low-income households in fields from science to art to sports, Hyundai said.