Positive Spirit of GM Daewoo Made 'Happy Christmas'

INCHEON, South Korea – December 15, 2008: Refusing to allow the bleak economy to take away the Christmas spirit, the GM Daewoo Employee Foundation held a Christmas party for more than 300 orphans and disabled people at its Incheon headquarters.

“These are very special children and we are not going to allow the many economic challenges facing the auto industry impact the lives of those children who need help the most,” said Michael Grimaldi, President & CEO, GM Daewoo.

“This event not only captures the spirit of the holidays, but also GM Daewoo’s commitment to improving the lives of Koreans.”

This event was more special because it was not only conducted from the fixed-term financial support from GM Daewoo and employees, but also from a separately arranged six million won amount charity fund, which the employees donated additionally.

“When we heard that the event might have to be cancelled due to lack of funding, I found that to be absolutely and totally unacceptable,” said Jay Cooney, Vice President of Corporate Affairs, GM Daewoo. “There are some things to be sacrificed in tough economic times. A Christmas party for orphans is not one of them.” The Corporate Affairs function challenged the foundation and employees to support the event, and their responses were overwhelming.From the employee who donated a full piggy bank with coins, to employees’ children who sent their own money to work with their parents to be donated to the party to the many employees’ spouses who participated in fund-raising every day during lunch hour in the company cafeterias, from small actions, great hope spread throughout GM Daewoo.

A total of 80 volunteers including 50 GM Daewoo executives, employees (including President and CEO Michael Grimaldi, GM Daewoo Vice President of Corporate Affairs Jay Cooney) and the institutions’ employees showed the 300 children various performances and presented gifts at the Christmas party.

The Christmas party included children-prepared Korean traditional percussion quartet (samulnori), Nanta, and performances such as a b-boy and magic show, which the children wanted to see.From the beginning of the event, CEO as well as other employees, wore Santa Claus costumes and entered the event hall performing magic to give children smile.

Michael Grimaldi, GM Daewoo President and CEO who also takes charge of Chief of the Employee Foundation, stated, “Even though everyone is facing difficult times, we should never allow the hope to be disappeared in our children. Our employees were able to feel the happiness through the laughter of the children.”In addition he thanked the employees and children by expressing, “This is the power of positive spirits to make everyone smile.”

With a giddy face-painted in bright colors, Hyojung Chun (girl, 8 years old) said laughing, “I loved that I received a gift from the foreign Santa Claus, who looks similar to the one I have seen in movies. I’m so glad that I was able to see the exciting shows too.”

The Employee Foundation holds the Christmas party every year for the children, as well supports nurseries, disabled and senior citizen care institutions and other public welfare institutions.In addition, the Employee Foundation continues to actively conduct volunteer services nationwide with the volunteer team consisting of 2,000 employees and ambassador consisting of employee spouses.