FEG Strengthens Social Impact with NT$330 Million Investment in 2024: Bridging Communities for a Sustainable Future

Rooted in its long-standing philosophy of "Taking from society, giving back to society," Far Eastern Group (FEG) has deeply integrated corporate social responsibility (CSR) into its core operations. In 2024, despite global geopolitical and economic volatility, FEG mobilized the collective strength of its subsidiaries—spanning petrochemicals, textiles, cement, retail, finance, and telecommunications—to inject stable, sustainable energy into the society. Total social investment for the year reached NT$330 million. According to the latest 2024 Sustainability Reports, the Group demonstrated profound impact across key pillars: supporting the underprivileged, rural education, and social safety.

Retail, Finance, and Telecommunications: Transforming Channels into Philanthropic Platforms

FEG’s service sectors leveraged their extensive networks to support rural and vulnerable youth:

• Far Eastern Department Stores (FEDS): Through six major approaches—sponsorship, donations of cash and goods, fundraising, crowdfunding, and charity sales—FEDS organized 1,051 philanthropic events in 2024 with a total social investment of NT$3.42 million. For 16 consecutive years, its Christmas lighting event has provided shoes to over 3,500 children, while stationery donation drives supported the Taoyuan Social Affairs Bureau to ensure learning opportunities remain uninterrupted for disadvantaged youth.

2024 FE SOGO Sustainable Home Cooking Competition (Photo Credit: FE SOGO)

• Far Eastern SOGO: FE SOGO committed over NT$84 million in resources in 2024, benefiting 1.5 million people through 620 events. Key initiatives include the "Sustainable Home Cooking Competition" for health management, “SO GOOD Christmas Wish” event and the "SO GOOD Youth Model" by utilizing its brand influence to advocate for underprivileged children.

FET provides fundings to the Taitung Ruiyuan Elementary School Archery Team (Photo Credit: FET)

• Far EasTone Telecommunications (FET): Focusing on sustainable environment, digital inclusion and social harmony, FET utilized 5G technology to bridge the digital divide, achieving 99% network coverage in rural areas. FET also provided sports equipment and funding to rural school teams and raised funds for vulnerable children for 18 consecutive years, assisting over 17,000 children to date. Total 2024 philanthropic investment reached NT$8.107 million.
• Far Eastern International Bank (FEIB): FEIB’s "Charity Platform" reached a milestone in 2024, with cumulative donations to the Eden Social Welfare Foundation surpassing NT$100 million. This 27-year partnership stands as a benchmark for long-term collaboration between enterprises and non-profit organizations.

Industrial and Transport Sectors: Deepening Long-term Community Partnerships

FEG’s industrial units focused on localized support and professional cultivation:

• Oriental Union Chemical Corp (OUCC): OUCC donated over NT$4.1 million to philanthropic groups and community events in 2024, with employees actively volunteering at children's homes.
• U-Ming Marine Transport: U-Ming provided over NT$2.51 million in scholarships to empower young people and disadvantaged groups to pursue maritime careers, while also giving back through material donations to local communities.
• Everest Textiles: Its clothing brand, "Eversmile," continues its pledge to donate 1% of monthly revenue to a philanthropic fund. In 2024, Everest also sponsored nearly NT$1.2 million to community groups, schools, and organizations such as "Shoes for Kids" and the Genesis Social Welfare Foundation.

• Far Eastern New Century (FENC): As an industry benchmark, FENC’s social investment totaled NT$61 million in 2024. Global initiatives ranged from donating medical equipment and water purifiers to primary schools in Vietnam (Photo Credit: FENC). FENC supports education, arts, and technology projects since the 1960s through its dedicated charity foundations.

Cross-Strait Initiatives and Social Inclusion

• Asia Cement Corporation (ACC): ACC continued to drive community development through its 21 benefit-sharing mechanisms for indigenous tribes, including emergency aid and scholarships, totaling NT$13.96 million. Total social care investment from ACC and its subsidiaries reached NT$124 million.
• Asia Cement (China): In 2024, ACC (China) contributed over RMB 7.75 million to education, healthcare, and environmental protection, including critical relief and reconstruction funds following the earthquake in Jishishan County, Gansu Province.

Vision for the Future

FEG Chairman Douglas Tong Hsu noted that ESG should not be an added responsibility but a core value that builds trust and drives innovation. Looking forward, Far Eastern Group will continue to deepen its "Together for a Promising Future" philosophy, working with stakeholders to create a more inclusive and warmer society through sustained philanthropic action.