|▲ Bumhan Group / Chairman Youngsik Jeong
CSR, Corporate Social Responsibility, is a business management concept whereby companies integrate social and environmental concerns in their business practices. CSR lays a greater value on environmental, philanthropic, ethical and economic responsibility in connection with public relations and their brand images. Having built a strong presence in the fields of air compressor and hydrogen fuel cell for buildings, excavators and submarines for 31 years, Bumhan Group has been putting into practice corporate social responsibility as much as its technological passion and achievement.
Youngsik Jeong, Chairman of Bumhan Group, used to be a normal salaryman. When ambitious young entrepreneurs jumped into venture craze in the 90s, Jeong also joined the flow and established Bumhan Industries with an investment received from a venture capital. As a mechanical engineering major, he made most of his knowledge and experience in the field to venture on air compressor. Passionate and continuous research and development ensued, and he eventually succeeded introducing 'complex cycle type high pressure compressor' that obtained the World's Best Product' in 2007 followed by KT certificate and E certificate and a number of patents and industrial property rights. The complex cycle type high pressure compressor started to be used by the Naro Space Center and Jeong signed a partnership with the world's number one compressor company Atlas Copco in 2009.
Catching up the global shift of energy companies to eco-friendly energy from polluting fossil fuel, Bumhan Group established Bumhan Fuel Cell in 2019 and opened Bumhan Science and Technology Institute in Magok, Seoul, this year with 50 billion won ($41.4 million) investment. The Institute is received as the largest scale hydrogen fuel cell research center in the nation. Bumhan Fuel Cell has proved its technology by development of hydrogen fuel cell installed in Dosan Ahn Changho (SS-083) submarine and Anmoo (SS-085) submarine. The former especially is loaded with 4 of polyelectrolyte fuel cell that powers the submarine for a month. (*It is notable that the German Siemens fuel cell powers a submarine about 2 weeks.) Bumhan Fuel Cell is received as the world's second commercial submarine fuel cell developer and it proudly listed its name in the World's Best Product 2019. Taking the momentum, Bumhan Group established Bumhan Motor in 2020 to manufacture hydrogen powered bus in an effort to expand its hydrogen fuel cell technologies.
[Corporate Social Responsibility]
"If you want to go fast, go alone. If you want to go far, go together." Bumhan Group's CSR has been built on this maxim. Chairman Jeong values highly of 'you first, let's share and let's do together' above anything else all those years of his career as a successful entrepreneur. He has been one of those who have proactively engaged in helping people in need and a support for sportsmen and artists. He especially donated 400 million won ($331,674) to Community Chest of Korea to buy prosthetic legs and feet for disabled sportsmen while he himself is serving as the support committee chairman of the ChildFund Korea South Gyeongsang Province Office.
"Bumhan Group is proud in both technical achievements and corporate social responsibility and all staff and employees are determined to keep pushing forward our passion and good will for as long as we last" says Jeong. <PowerKorea>
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