KB Kookmin Bank Invests 200 Billion KRW in T Map Mobility, Acquires 8.3% Stake

Accelerating Collaboration in Mobility Finance

Lee Jae-geun, President of KB Kookmin Bank, is taking a commemorative photo with Lee Jong-ho, CEO of T map Mobility, at the strategic investment contract signing ceremony between KB Kookmin Bank and T map Mobility held on the 19th at SKT Tower in Jung-gu, Seoul. (Provided by KB Kookmin Bank)

[Asia Economy Reporter Minwoo Lee] KB Kookmin Bank has made a strategic investment of 200 billion KRW in Tmap Mobility. The bank plans to discover various new businesses by linking finance and mobility.

KB Kookmin Bank announced on the 22nd that it had signed a new share acquisition contract with Tmap Mobility. KB Kookmin Bank will acquire approximately 8.3% of Tmap Mobility's shares for about 200 billion KRW. With this, KB Kookmin Bank becomes the fourth largest shareholder of Tmap Mobility.

Previously, KB Kookmin Bank and Tmap Mobility signed a strategic business agreement in December last year to jointly promote new services and platform businesses combining finance and mobility. The investment decision was made to strengthen the synergy between the highly potential mobility market and finance.

Through this investment, KB Kookmin Bank plans to expand customer experience based on various data and mobility services of Tmap Mobility, provide financial services such as payments and insurance linked to mobility services, and discover various new 'mobility finance' businesses.

Additionally, the two companies plan to jointly develop win-win support products that minimize financial blind spots for platform members such as designated drivers, taxi drivers, freight drivers, and agencies, helping them become self-reliant. They also plan to explore cooperation areas for future new businesses such as ESG (Environmental, Social, and Governance) management practices, carbon mileage products, urban air mobility, autonomous driving, and electric vehicles.

Jongho Lee, CEO of Tmap Mobility, said, "Collaboration with KB Kookmin Bank will serve as a catalyst for Tmap to evolve into a mobility platform that all citizens can use easily and conveniently."

Jaegun Lee, President of KB Kookmin Bank, stated, "I hope that through the exchange of core competencies and asset bases that both companies possess, finance and mobility will go beyond growth to change the world."

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