The Federation of Korean Industries has given 10billion won ($9.4m,
£5.4m) to help the victims of Hurricane Katrina, which devastated large
areas of the southern US. The money is being channelled through the
Korean Red Cross, which is distributing food and medical supplies.
The federation said: ‘It does carry with it the meaning of paying back
what we received from the US in the past, but it’s also a chance to
show how much Korea has grown economically.’ About 150,000 staff of
commercial and government-run banks added a further 3.28bn won.
