KB Financial Group Donates 1 Billion KRW to Wildfire-Affected Areas... Special Loan Support Provided

[Asia Economy Reporter Buaeri] KB Financial Group announced on the 6th that it will support residents affected by wildfires and local communities in Gangwon-do and Gyeongsangbuk-do regions.

KB Financial will donate 1 billion KRW for recovery and relief efforts and provide 1,200 disaster relief kits. Meal service vehicles and laundry vehicles for residents and firefighters have also been urgently deployed on site.

Major affiliates will engage in financial support activities for affected customers.

KB Kookmin Bank will offer special loans within the range of the damage amount. For personal loans, up to 20 million KRW will be provided as emergency living stabilization funds. For corporate loans (self-employed, small and medium enterprises, etc.), a special preferential interest rate of up to 1.0 percentage point will be applied, with working capital loans up to 500 million KRW and facility funds supported within the required amount for restoring damaged facilities.

Additionally, if existing loans mature within 3 months, extensions can be granted without additional principal repayment, applying preferential interest rates of up to 1.5 percentage points for household loans and up to 1.0 percentage point for corporate loans. If principal and interest are paid normally within 3 months from the date of damage, late interest will be waived.

KB Insurance will prioritize payment of up to 50% of the estimated insurance amount before completion of damage investigation for wildfire-related insurance claims. For long-term insurance customers, premium payments can be deferred without late interest, and loan maturities can be extended without additional principal repayment. Late interest will be waived if principal and interest are paid normally within 3 months from the date of damage.

KB Life Insurance will defer premium payments and insurance contract loan interest payments for up to 6 months. It will also expedite payment processing for wildfire-related accident insurance claims.

KB Kookmin Card will defer credit card payment bills for up to 6 months. Single payments and short-term card loans (cash services) can be divided into installments for up to 18 months. Long-term card loans (card loans) can have repayment deferred through changes in installment or grace periods. Fees on installment payments and short- and long-term card loans used after the damage date will be discounted by 30%. Late fees on payments after the damage date will be waived until May.

The financial support programs of KB Kookmin Bank, KB Insurance, KB Life Insurance, and KB Kookmin Card are available to customers confirmed to have suffered actual damage from this wildfire. Submission of a 'Damage Confirmation Certificate' issued by the relevant local government office is required. The application period for support is within 3 months from the date of damage.

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