KB Financial Group Donates 1 Billion KRW for Typhoon Hin Nam No Recovery... Provides Emergency Financial Support Too

[Asia Economy Reporter Bu Aeri] KB Financial Group announced on the 6th that it will donate 1 billion KRW to aid recovery efforts from the damage caused by Typhoon Hin Nam No.

KB Financial will deliver the 1 billion KRW donation to the Hope Bridge National Disaster Relief Association, where the entire amount will be used for emergency relief, facility restoration, daily necessities for disaster victims, housing safety for vulnerable groups, and support for small business owners.

In addition to the donation, KB Kookmin Bank plans to provide emergency relief kits (blankets, hygiene products, medicines, etc.), meal trucks, and laundry trucks for disaster victims.

From the 7th to the 23rd, a ‘donation campaign’ will also be conducted through KB Financial Group’s major mobile applications, allowing customers to easily participate in donations or send their support.

KB Kookmin Bank, KB Insurance, and KB Kookmin Card will operate emergency financial support programs including special loans, maturity extensions, preferential interest rates, priority insurance payments, and payment deferrals.

KB Kookmin Bank will provide special loans within the range of the damage amount. For personal loans, up to 20 million KRW will be supported as emergency living stabilization funds. For corporate loans (self-employed, small and medium enterprises, etc.), a special preferential interest rate of up to 1 percentage point will be applied, with working capital loans up to 500 million KRW and facility funds supported within the necessary amount for facility restoration.

If existing loans mature within 3 months, extensions are possible 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 occurrence, late interest will be waived.

KB Insurance will prioritize payment of 50% of the estimated insurance amount before completion of loss investigation for long-term insurance claims filed by customers affected by this typhoon. For long-term insurance customers, premium payments can be deferred without late interest, and loan maturity extensions are possible without additional principal repayment. Late interest will be waived if principal and interest are paid normally within 3 months from the date of damage occurrence.

KB Kookmin Card will defer credit card payment bills for up to 6 months. For long-term card loans (card loans), repayment can be deferred by changing installment or grace periods. Additionally, fees for short- and long-term card loans used after the damage date will be discounted by 30%. Late fees for payments overdue after the damage date will be waived until November.

Customers eligible for financial support programs are those who have suffered actual disaster damage due to this typhoon and can submit a ‘Damage Confirmation Certificate’ issued by the relevant local government office. The application period for support is within 3 months from the date of damage occurrence.

A KB Financial Group official said, "We sincerely express our condolences to those affected by this typhoon," adding, "KB Financial Group will do its utmost to ensure that the affected areas recover quickly and that citizens can promptly return to their daily lives."

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