Samsung Creates Cancer Fighting Fund

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Samsung Creates Cancer Fighting Fund

Samsung Electronics Inc. is an international smartphone maker and tech giant. That being said, no tech company is without problems. Samsung is shelling out enormous cash for such an enormous problem among it’s employees.

At their Seoul, South Korea headquarters, Samsung Electronics Co. Ltd. spokespersons announced a fund for Samsung employees diagnosed with cancer. This fund is worth 100 billion won, or about $86 million dollars. Proceeds of this fund will be given to employees, and their families, who got sick while working in Samusng plants making chips and other hardware products. Other proceeds will go to fund research and preventative methods, keeping this from ever happening again. According to South Korean activist group Sharps, around 200 people were stricken with cancer while working at a local plant. Of those approximately 200 employees, about 70 have died to their illnesses, leaving their next of kin to relieve their share. While Sharps is aware of this fund, they didn’t comment about it. This fund is now a reality because of negotiations between Samsung, stricken workers, family members of the deceased, and lawyers/experts in corporate responsibility. It’s widely believed radiation and dangerous chemicals in this plant caused sky high lymphoma and leukemia rates among plant employees. This tragedy didn’t start yesterday. This dispute has been going on for about a decade. It wasn’t until Samsung’s public apology last year that sides started being civil toward one another.

Why did it have to take that long and that much mudslinging to come to an agreement? From a business perspective, I understand you’re afraid of putting your company in a bad light. But lives are on the line! People are dying! Sometimes you have to put business aside and do what’s best for your fellow human beings…the human beings you hired. I’m glad Samsung is finally doing that. I’m glad this issue is finally resolved. But is $86 million enough for these victims and their families?

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