Visakhapatnam: LG Polymers India Pvt., the Indian manufacturing arm of LG Chem, has launched a foundation aimed at reinforcing corporate social responsibility (CSR) initiatives in India, the company announced on Monday. The newly established LG India CSR Foundation, situated in Visakhapatnam on India's east coast, is dedicated to enhancing medical support and the welfare of villagers residing near the LG Polymers facility.
According to Yonhap News Agency, the foundation is exploring the introduction of additional programs, including potable water supply projects and vocational training initiatives, to further improve the quality of life for local residents. This initiative is part of LG Chem's broader commitment to assume responsibility for a significant gas leak at the LG Polymers India plant in 2020, which resulted in 12 fatalities and caused injuries to hundreds.
The establishment of the LG India CSR Foundation follows LG Chem's pledge to provide approximately US$20 million in compensation to the victims affected by the 2020 incident. The foundation's efforts are seen as a step towards addressing the aftermath of the tragedy and contributing positively to the community surrounding its operations.