KB Financial Expands Startup Support... 21 Starters Companies Finalized for Second Half Selection

A Total of 111 Startups Selected with 21 Additional Startups, Cumulative Business Partnerships Reach 146, and Total Investment Amounts to 39.5 Billion KRW
Discovering Various Promising Startups in ESG and Digital Life Sectors through Open Recruitment

[Asia Economy Reporter Park Sun-mi] KB Financial Group announced on the 21st that it has finally selected 21 companies for the ‘KB Starters’ through its second half recruitment. With this, the total number of KB Starters, technology startups challenging to create innovative services based on nurturing and collaboration with KB Financial Group, has increased to 111 companies.

In this recruitment, startups with excellent capabilities and technologies in future digital life fields such as environment, social responsibility, and governance (ESG), which KB Financial Group has continuously focused on and promoted, as well as contactless services, smart cities, and healthcare, were selected.

In March, KB Financial established an ‘ESG Committee’ within the board of directors to accelerate the spread of ESG management. In addition, it plans to take the lead in nurturing startups in the ESG field, such as ‘Bplus,’ which operates a social impact investment platform; ‘Quantified ESG,’ which provides corporate ESG information services; and ‘MicroProtect,’ which offers insurance services based on artificial intelligence (AI) deep learning technology that low-income groups can afford to subscribe to without burden.

The selected KB Starters can use the startup residence space located near Sinnonhyeon Station in Gangnam, and when traveling abroad, they will also receive benefits to use WeWork offices worldwide.

They can also receive consulting services in various fields such as accounting, law, and patents, and support for scale-up through organic cooperation with KB Financial Group affiliates, as well as stage-by-stage investment through KB Financial Group’s corporate venture capital (CVC) funds.

A KB Financial Group official said, “Support for innovative companies is an investment in the future based on Chairman Yoon Jong-kyu’s management philosophy, and we plan to actively support excellent technology startups in cooperation with KB Financial Group to grow into unicorn companies.”

Meanwhile, through such full-scale nurturing and collaboration by KB Financial, KB Starters continue to grow. The total number of KB Starters nurtured by KB Financial Group is 111 companies, the cumulative number of business partnerships with KB Financial Group is 146, and the cumulative investment amount is 39.5 billion KRW, creating the highest level of startup collaboration achievements in the financial sector.

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