KB Kookmin Bank, Revitalizing Local Economy by Shopping at Traditional Markets Nationwide

Payment of about 3.5 billion KRW for employee sports and cultural events in Onnuri gift certificates... Participating in revitalizing the local economy

[Asia Economy Reporter Kangwook Cho] KB Kookmin Bank announced on the 13th that it will provide employee sports and cultural event expenses in the form of 'traditional market Onnuri gift certificates' through labor-management consultations to support small business owners and revitalize local commercial districts.

KB Kookmin Bank explained that this decision aims to encourage employees to participate in shopping at traditional markets to support small business owners facing difficulties and to join efforts to revitalize local commercial districts through domestic demand activation. If approximately 18,000 bank employees nationwide visit traditional markets to shop, about 3.5 billion KRW will be spent at Onnuri gift certificate affiliated stores such as traditional markets.

In February, KB Kookmin Bank also participated in revitalizing the depressed local commercial districts by purchasing daily necessities worth about 100 million KRW at traditional markets in the Daegu and Gyeongbuk regions using local love gift certificates. Additionally, in March, it donated 500 million KRW to ensure that goods purchased through traditional markets and small business owners could be delivered to disadvantaged neighbors such as children at child welfare centers and local children's centers in the Daegu and Gyeongbuk regions.

Yoon Jong-kyu, Chairman of KB Financial Group, urged affiliated companies within KB Financial Group to actively participate and accelerate efforts to help overcome COVID-19 as soon as possible. The newly established 'Group Emergency Management Committee,' chaired by Chairman Yoon, is making company-wide efforts at the group level to support COVID-19 damage recovery.

A KB Kookmin Bank official said, "We will support small business owners struggling due to the spread of COVID-19 to overcome the crisis," adding, "We will continue to prepare practical on-site support measures going forward."

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