KB Kookmin Bank Raises 300 Million KRW Donation Fund to Support Small Business Owners and Vulnerable Groups

'Business Support Savings Account' New Sign-up Matching Donation of 3,000 KRW per Case
Supporting Vulnerable Youth by Purchasing Goods for Small Business Owners

[Asia Economy Reporter Kangwook Cho] KB Kookmin Bank announced on the 26th that it will conduct a donation challenge in which it purchases goods from small business owners affected by COVID-19 and delivers the purchased goods to vulnerable youth.

This decision was made to deliver a message of hope to small business owners nationwide who are experiencing difficulties such as decreased sales and temporary closures due to the impact of COVID-19, as well as to vulnerable youth.

The COVID-19 Overcoming Donation Challenge raises funds by matching 3,000 KRW per account when customers newly open a ‘Business Support Account.’ The ‘Business Support Account’ is a business-exclusive deposit and withdrawal account that offers various financial services such as fee waivers and preferential interest rates by reflecting diverse banking transaction performances.

A total of 300 million KRW will be raised through a 100 million KRW matching donation and additional bank donations. The donation funds will be used at 540 small business establishments nationwide, and goods purchased will be delivered to approximately 13,500 vulnerable youth. The support includes purchasing school supplies from stationery stores near schools that are experiencing sales declines and buying lunch boxes from local restaurants to support marginalized youth at nearby community child centers.

Previously, KB Kookmin Bank provided digital learning devices and supported online lecture fees to promote untact education and assist disabled youth in their studies.

Additionally, KB Financial Group is participating in the ‘Good Consumption Movement’ to help small business owners struggling due to the prolonged COVID-19 pandemic. KB Financial Group affiliates, including KB Kookmin Bank, have made advance payments totaling 300 million KRW at nearby restaurants. Furthermore, employees voluntarily participate in the ‘Good Consumer Movement’ by using local restaurants and making advance payments.

A KB Kookmin Bank official stated, “We plan to continuously promote various social contribution activities and support measures in preparation for the post-COVID era,” adding, “We hope this support will be a message of hope to small business owners and vulnerable youth exhausted by COVID-19.”

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