Hyundai Motor management and union expand traditional market shopping to four times a year
In short
Hyundai Motor's management and union said they will hold their traditional market shopping event four times a year instead of once, at Chuseok. They held the event at Yeompo Market in Ulsan on 20 October and donated 10 million won to two local organisations.
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Hyundai Motor's management and union said they will expand the traditional market shopping event they have held once a year, at Chuseok, to four times a year. The outlets described the aim as revitalising local neighbourhood commerce. [ 1 , 2 , 3 ]
The two sides held the event on 20 October at Yeompo Market in Buk District, Ulsan. They donated 10 million won in social contribution funds to the Ulsan volunteer centre and the Ulsan social welfare community chest. Of this, 5 million won goes to buying supplies for vulnerable groups and 5 million won to supporting cultural events at Yeompo Market. [ 1 , 2 , 3 ]
About 20 people took part, including management, union and local government officials. They used traditional market gift vouchers to buy items such as sesame oil, rice cake and fruit. Newsis said they conveyed messages of support to the merchants. [ 1 , 2 , 3 ]
The event was organised as part of the Ulsan Sangsaeng Market Project (울산 상생마켓 프로젝트), a cooperation task of a regional shared-growth council launched in July. Under the project one company supports one traditional market. Hyundai Motor's management and union visited Hogye Market in Buk District at the last Chuseok, and the Yeompo Market event is their second activity under the project. [ 1 , 2 , 3 ]
A Hyundai Motor official was quoted as saying the shopping event would be held regularly so that warmth reaches local commerce outside holiday periods. According to Yonhap, the official said the company would continue to provide a base of consumption for traditional markets and supplies for people in need. [ 1 , 2 , 3 ]
Why it matters
The documents present the change as support for local neighbourhood commerce in Ulsan and for vulnerable residents. They give no figures on the effect on the market's sales.
Key facts
- Hyundai Motor's management and union will expand their traditional market shopping event from one a year, held at Chuseok, to four a year. [ 1 , 2 , 3 ]
- They held the event on 20 October at Yeompo Market in Buk District, Ulsan. [ 1 , 2 , 3 ]
- They donated a total of 10 million won in social contribution funds to the Ulsan volunteer centre and the Ulsan social welfare community chest. [ 1 , 2 , 3 ]
- The money is split into 5 million won for supplies for vulnerable groups and 5 million won to support cultural events at Yeompo Market. [ 1 , 2 , 3 ]
- About 20 people, including management, union and local government officials, bought sesame oil, rice cake and fruit with traditional market gift vouchers. [ 1 , 2 , 3 ]
- The event is part of the Ulsan Sangsaeng Market Project (울산 상생마켓 프로젝트), a cooperation task of a regional shared-growth council launched in July. [ 1 , 2 , 3 ]
Confirmed by several sources
- Hyundai Motor's management and union expanded the market shopping event from once a year at Chuseok to four times a year. [ 1 , 2 , 3 ]
- The 20 October event at Yeompo Market came with a 10 million won donation, split 5 million won and 5 million won between supplies for vulnerable groups and cultural events at the market. [ 1 , 2 , 3 ]
- The project pairs one company with one traditional market; Hyundai Motor's visit to Hogye Market in Buk District at the last Chuseok was its first activity and this event the second. [ 1 , 3 ]
Still unclear
- When the other three yearly events will take place. The documents say the event will be held four times a year but do not give dates for the additional events.
- What the donated funds will be used for. Yonhap and Seoul Economic Daily describe a 5 million won split between supplies for vulnerable groups and cultural events at Yeompo Market. Newsis says the funds are for promoting market visits and supporting vulnerable groups, then gives the same split.