iM Financial Group's iM Social Contribution Foundation has received a presidential citation for the first time since the foundation was established, in recognition of its work such as financial education for seniors and support for vulnerable older people.

The iM Social Contribution Foundation said on Oct. 8 it won the presidential citation for contributions to improving elderly welfare, marking the Day of Older Persons on Oct. 2.

The foundation has run financial education programmes using the financial experience space called the iM Financial Experience Park. It has also offered tailored education at elderly welfare facilities such as in-home elderly welfare centres and memory schools.

It provided programmes and carried out education to prevent losses from financial fraud such as voice phishing through its on-site financial education initiative, in which specialist instructors visit welfare facilities. It has also continued living support for vulnerable older people.

The foundation's social contribution funding uses donations from affiliates such as iM Bank and the '1 percent salary love sharing' initiative involving employees. Employees also take part in volunteer work at welfare sites through the iM Companion Volunteer Group.

Hwang Byung-woo (황병우), chairman of iM Financial Group, said, "It is meaningful in that it recognises the efforts our employees have made together to help seniors lead safe financial lives and improve welfare."