29 Nov 2013
Angat hydropower plant winning bidder Korea Water Resources Development Corp. (K-Water) has donated a total of 100 million Korean won (KRW) to aid the victims of Super Typhoon Yolanda (International Name: Haiyan), Power Sector Assets and Liabilities Management (PSALM) Corporation President and Chief Executive Officer Emmanuel R. Ledesma, Jr. reported recently.
"On behalf of government, we thank K-Water for its support to the ongoing relief operations for the victims of this vicious typhoon. This will go a long way in the restoration efforts in various parts of the country," Mr. Ledesma said.
Of the total amount, KRW88 million was coursed through the Korean Red Cross, while KRW12 million was coursed through the non-government organization (NGO) Korea Food for the Hungry International (KFHI) through its local counterpart Givers Funds Inc. (GFI).
KFHI is the first officially-registered overseas aid NGO, and has spearheaded the transformation of Korea from a receiving to a giving nation. The group now reaches out to 80 countries around the world, including the Philippines. GFI, KFHI's regional office, has 81 members involved in various domestic social welfare activities all over the country.
In addition to the cash donation, K-Water is also donating 200,000 500-mL bottled waters to the victims, 75,000 of which were already given to the Philippine National Red Cross last 20 November. The remaining bottles will be delivered by December.
K-Water is the winning bidder of the auction conducted by PSALM for the 218-megawatt Angat Hydro Electric Power Plant on 28 April 2010. K-Water is currently working to close the sale of the Bulacan-based hydro plant after PSALM issued the Certificate of Effectivity of the Asset Purchase Agreement.
Strategic Communications and Partnership Division |