Banking Sector Signs Agreement to Donate 10 Billion KRW to Rural Coexistence Cooperation Fund
Special Initiative to Support Rural Areas
Kim Tae-young, Chairman of the Korea Federation of Banks, is attending the meeting to review the performance of inclusive finance in the banking sector held at the Korea Federation of Banks building in Seoul on the 22nd. / Photo by Moon Ho-nam munonam@
View original image[Asia Economy Reporter Park Sun-mi] The Korea Federation of Banks announced on the 24th that it has signed an agreement to donate 10 billion won to the Rural Coexistence Cooperation Fund within the Foundation for Large, Small, and Medium Enterprises and Agriculture-Fishery Cooperation, representing the banking sector.
This donation was specially promoted to support rural areas suffering from the prolonged COVID-19 pandemic and damages caused by floods and typhoons. The donated funds will be used as resources for ▲ education and scholarship projects for children of farmers and fishermen, ▲ welfare improvement for rural residents, ▲ rural area development and revitalization, and ▲ joint cooperation projects between companies and rural/agricultural communities.
The Rural Coexistence Cooperation Fund supports the promotion of coexistence cooperation between rural areas and companies that have suffered or are expected to suffer damage due to the implementation of FTA agreements, and currently has 105.1 billion won raised.
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Kim Tae-young, chairman of the Korea Federation of Banks, said, “We hope this banking sector donation will help rural areas facing great difficulties due to COVID-19, floods, and typhoons,” and added, “We hope this will serve as an opportunity to revitalize the Rural Coexistence Cooperation Fund.” Kim Soon-chul, Secretary General of the Foundation for Large, Small, and Medium Enterprises and Agriculture-Fishery Cooperation, said, “We appreciate the large donation despite the difficult economic environment,” and added, “We plan to utilize the fund to realize social value in the banking sector.”
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