South Korean Consumer Electronic major LG, which completed 24 years in India on Wednesday, pledged USD 5.5 million (around Rs 40.38 crore) to fight against the second wave of the pandemic.
LG Electronics will provide financial assistance of USD 5.5 million, to set up medical infrastructure in these crucial times, when India is fighting against the second wave of the pandemic, the company said in a statement.
"LG Electronics has pledged to help 10 makeshift hospitals across India. This will be done in association with local government bodies and NGOs," it said.
As part of this, LG Electronics would help the country''s leading medical facility AIIMS, by funding the addition of more beds to treat COVID-19 patients
"All these makeshift hospitals will be made across Delhi NCR, Bangalore, Pune, Bhopal, Udaipur, Lucknow & other cities in association with various government hospitals," it said.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
LG Electronics will be working with implementation partners including the People to People Foundation across various states.
"Our focus has always been on the well-being of the people and we believe through makeshift hospitals, we can contribute to saving lives by creating medical infrastructure. It has been 24 years since our inception in India & we are committed to make Life’s good for India. We will continue our social initiatives to contribute in a meaningful way," said LG Electronics India MD Young Lak Kim.
In April 2020, LG had partnered with Akshaya Patra Foundation to serve one million meals across India and also donated products to over 300 hospitals allotted for quarantine/ isolation wards in state and districts.