Banks Donate 20 Billion Won to Vulnerable Groups Facing Employment Crisis

On the 16th, at the Korea Federation of Banks in Jung-gu, Seoul, Kim Tae-young, Chairman of the Korea Federation of Banks (right), and Kang Soon-hee, President of the Korea Workers' Welfare Corporation, are taking a commemorative photo at the ceremony for the delivery of 20 billion won from the Workers' Welfare Promotion Fund. Photo by Korea Federation of Banks

[Asia Economy Reporter Kim Min-young] The Korea Federation of Banks on the 16th, representing the banking sector, delivered 20 billion won from the Workers' Welfare Promotion Fund to the Korea Workers' Compensation and Welfare Service to support vulnerable groups struggling with the employment crisis caused by the novel coronavirus infection (COVID-19).

This donation was prepared as part of a 500 billion won joint social contribution project by banks carried out over three years since 2018. It is a special initiative considering the prolonged difficulties due to COVID-19.

The donated funds will be used as resources for unemployment measures and employment and livelihood stabilization plans for the unemployed, workers in special employment types, and self-employed individuals.

At the delivery ceremony, the Korea Workers' Compensation and Welfare Service expressed gratitude to the Korea Federation of Banks with a plaque of appreciation for the banking sector's united participation in this donation despite difficult business conditions. Kim Tae-young, chairman of the Korea Federation of Banks, stated, “I hope this donation will help stabilize employment and livelihoods for vulnerable groups severely affected by COVID-19,” and added, “We will continue to promote social contribution activities to fulfill the social responsibilities required of the banking sector.”

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