KB Kookmin Bank Donates 300 Million KRW Raised from KB Malgeunbada Financial Products

[Asia Economy Reporter Kim Hyo-jin] KB Kookmin Bank announced on the 21st that it has donated 300 million KRW collected through subscriptions to the KB Malgeunbada financial product to the World Wide Fund for Nature (WWF). Due to the novel coronavirus disease (COVID-19), the donation ceremony was held online.

The KB Malgeunbada financial product was launched in June last year as part of the "KB Green Wave Campaign with Customers." This product aims to raise awareness of the importance of the marine environment and encourages customers to participate in creating clean seas. It consists of the KB Malgeunbada Public Trust and the KB Malgeunbada Savings Account.

The KB Malgeunbada Public Trust is a product where 10% of the fees paid by customers subscribing to the product are donated in the customer's name. It received great customer response, raising 100 million KRW in just two months. KB Kookmin Bank also donated 100 million KRW through a matching grant method equal to the customers' donations, raising a total of 200 million KRW.

Additionally, the KB Malgeunbada Savings Account is a specialized product that offers preferential interest rates when customers participate in activities such as reducing marine litter and opting out of paper passbooks as eco-friendly practices. For each savings account, 5,000 KRW was accumulated, and combined with the bank’s donation, a total of 100 million KRW was raised.

The total donation of 300 million KRW raised by KB Kookmin Bank together with its customers will be delivered to WWF and used for marine litter collection and environmental improvement projects at aquaculture farms in Jeju Island. Although tens of thousands of tons of waste flow into the sea every year, it is difficult to collect, so the funds will be used for cleaning underwater waste and environmental purification projects to prevent pollution of the sea through aquaculture environment improvements.

A KB Kookmin Bank official stated, “The KB Malgeunbada financial product is an eco-friendly specialized product designed to solve environmental issues together with customers,” and added, “We will continue to promote various activities for environmental protection.”

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