The Citi Foundation, affiliated with Citibank Korea, announced Wednesday it has chosen Habitat for Humanity Korea as a recipient of the 2024 Global Innovation Challenge, which supports solutions that combat homelessness.

Habitat for Humanity Korea, one of the recipient 50 community organizations worldwide, will receive $500,000 in catalytic funding. In total, the Citi Foundation will donate $25 million to address the global issue.

“Since launching the inaugural Global Innovation Challenge in early 2023, we’ve continued to see how community-based solutions are poised to accelerate impact on the ground,” said Brandee McHale, a president of Citi Foundation.

“Each community organization will not only directly impact the lives of people in crisis today, but also create models that can be replicated in other communities around the world tomorrow.”

Citi Korea has supported Habitat’s home-building project every year since 1998, and to date, 1,782 Citi employees and their families have helped construct 42 houses for vulnerable communities. CEO Yoo Myung-soon also participated in a volunteer activity in Mokcheon-eup, Cheonan, South Chungcheong Province, on Tuesday.

“Through this support, Citi Korea will address homelessness for vulnerable communities in a more structured and sustainable way, providing an opportunity for us to make a greater contribution to Korean society,” said Yoo.

Habitat for Humanity Korea plans to work locally to improve the living conditions of children in need and households lacking adequate housing. It will also provide psychological counseling and financial education in Seoul and surrounding metropolitan areas.