Yoon Jong-kyu, KB Financial Group Chairman: "New Deal and Innovative Finance, New Growth Opportunities for the Group"

Promoting Innovation Finance Focused on 5 Major Agendas Including New Deal
Supporting a Total of 76 Trillion Won with 66 Trillion Won for Innovation Finance by 2023 and 10 Trillion Won for Korean New Deal by 2025

Yoon Jong-kyu, Chairman of KB Financial Group (center), is presiding over the 3rd KB New Deal Innovation Finance Council held via video conference at the KB Kookmin Bank Yeouido Headquarters on the 27th.

[Asia Economy Reporter Park Sun-mi]KB Financial Group announced on the 30th that it held the ‘3rd KB New Deal·Innovative Finance Council’ on the 27th, composed of key executives from major affiliates including Chairman Yoon Jong-kyu and KB Kookmin Bank President Heo In.

Since July, KB Financial Group has been expanding the operation of the ‘KB Innovative Finance Council’ to the ‘KB New Deal·Innovative Finance Council.’ Centered on the ‘KB New Deal·Innovative Finance Council,’ it is rapidly advancing a total of 76 trillion KRW in financial support, including 66 trillion KRW in ‘innovative finance’ support by 2023 and 10 trillion KRW in ‘Korean New Deal’ support by 2025.

At this meeting, in addition to the existing four major agendas of ‘innovative finance’?‘strengthening credit support for innovative companies,’ ‘expanding investment in innovative growth,’ ‘startup support and job creation,’ and ‘startup cultivation and innovation of financial linkage platforms’?an agenda related to the New Deal, ‘Korean New Deal support,’ was added. The current support status for the total five major agendas was reviewed, and future implementation plans were discussed.

Among KB Financial’s ‘innovative finance’ initiatives, the scale of technology finance support has reached 8.4 trillion KRW, exceeding this year’s net increase target of 6.8 trillion KRW. Furthermore, through secured loans against movable property amounting to 122.8 billion KRW for credit support to innovative companies and investments of 174.2 billion KRW in innovative companies, the annual targets have been achieved ahead of schedule, accelerating the promotion of ‘innovative finance.’

Additionally, to revitalize the ‘innovative finance’ ecosystem, 6,400 ‘startup support consultations’ have been conducted this year, and the ‘KB Good Job’ employment fair has connected over 3,200 people to jobs. The policy fund platform ‘KB Bridge’ has accumulated 107,000 users. Beyond direct financial support, various efforts are being made.

KB Financial’s support for the ‘Korean New Deal’ is being promoted mainly through eight of the ten representative projects of the ‘Korean New Deal’ initiative, including ‘Green Smart School,’ ‘Digitalization of National Safety SOC,’ ‘Green Remodeling,’ ‘Green Energy,’ ‘Eco-friendly Future Mobility,’ ‘Data Dam,’ ‘Intelligent Government,’ and ‘Smart Medical Infrastructure.’

Recently, to encourage public participation in the ‘Korean New Deal’ projects and create successful profit-sharing models, private public offering funds such as the ‘KB Korea New Deal Fund’ and ‘KB Star Hydrogen Economy Theme ETF’ have been launched. Through the formation of the ‘KB Living Infrastructure Fund’ with 200 billion KRW and the ‘KB New Renewable Green New Deal Fund’ with 130 billion KRW, full-scale support expansion is underway.

Chairman Yoon stated, “Through support for the New Deal and innovative finance, let us take the lead in creating social value linked to the group’s core strategic direction of Environmental, Social, and Governance (ESG) management. At the same time, let us regard the New Deal and innovative finance as new growth opportunities for the group, unite our capabilities, and proceed with speed.”

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