KB Kookmin Card Launches Apple Product Lease Financing... Industry First

Signed Business Agreement with 6 Apple Premium Resellers
Service Launch Scheduled in April for Lease Contracts on iPhone and Other Apple Products

[Asia Economy Reporter Ki Ha-young] KB Kookmin Card will launch the first-ever "lease finance service" in the card industry next month, targeting customers purchasing Apple IT products such as iPhones and iPads.

On the 26th, KB Kookmin Card announced that it signed a business agreement for Apple product lease finance services with six Apple premium resellers at its headquarters in Jongno-gu, Seoul.

According to the agreement, KB Kookmin Card and six Apple premium resellers?Gala International (Frisbee), Peach Valley (Wallis), Beyond Tech (KMUG), A Shop, Neptune Korea, and Daehwa Computer?will mutually cooperate to provide lease finance programs for Apple product customers and promote various joint marketing activities.

The service, scheduled to be launched in April, will be available to anyone aged 19 or older regardless of KB Kookmin Card membership. It features usage within a customer-specific limit granted through mobile phone identity verification, without requiring document submission or collateral setup.

Customers can select the desired lease product and freely adjust various conditions such as lease period and down payment through online channels like internet and mobile or by scanning QR codes available at reseller stores to finalize the contract.

After customers select Apple products and sign the lease finance agreement, KB Kookmin Card purchases the products from Apple premium resellers and delivers them to customers, who then repay the monthly usage fee (lease payment) in installments.

For the acquisition-type product, customers pay the lease fee using the equal principal and interest method and acquire the product at the end of the term. For the return-type product, customers repay the amount excluding the residual value using the equal principal and interest method and return the product at lease maturity. Notably, the return-type product is the first in Korea to guarantee the residual value of Apple products, reducing customers' monthly payment burden.

A KB Kookmin Card official said, "This is the first result after about a year of discussions with Apple premium resellers on a new concept financial service combining finance and shopping," adding, "We will continue efforts to diversify profits by expanding lease finance products to durable goods with a lifespan following Apple products."

This content was produced with the assistance of AI translation services.