SBI Savings Bank Supports Children Aging Out of Foster Care... Donates 200 Million Won to Salvation Army

At the sponsorship fund delivery ceremony for children whose foster care has ended, Jeong Jin-moon, CEO of SBI Savings Bank (left), and Jang Man-hee, Commander of the Korea Salvation Army, are taking a commemorative photo. Photo by SBI Savings Bank

[Asia Economy Reporter Minyoung Kim] SBI Savings Bank announced on the 10th that it will operate ‘We Are Special Cider,’ a program supporting underprivileged children.

This social contribution campaign focuses on supporting underprivileged children through various programs.

First, it will support youths leaving childcare facilities to take their first steps into society in a safe environment. To this end, it has signed a business agreement with the Korea Salvation Army, and youths at the Seoul Welfare Center within the Salvation Army will carry out various activities to help them start anew in better conditions by providing housing funds, living stabilization funds, and more when leaving childcare facilities.

With 200 million KRW in sponsorship from SBI Savings Bank, government support funds, and assistance from the Korea Land and Housing Corporation, the program helps youths secure a place to live.

For high school students about to leave care, SBI Savings Bank opens a dedicated account called ‘We Are Special Cider’ and deposits a fixed amount monthly. The total amount saved upon leaving the care facility is fully sponsored to provide housing stabilization funds so that even if the youths cannot find a job immediately, they can maintain a stable life.

Jinmoon Jeong, CEO of SBI Savings Bank, stated, "We will continue to develop and operate programs with various domestic organizations to support underprivileged children in need around us, expanding the scope and range of support for marginalized groups and fulfilling our corporate social responsibility."

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