Expanding Donation Culture through Trusts... KB Kookmin Bank Signs MOU with Korea Compassion
Provision of Trust Products and Financial Services
On the 14th, at the KB Compassion headquarters in Yongsan-gu, Seoul, Lee Sang-hwa, Head of Financial Investment Products Division at KB Kookmin Bank (left), and Seo Jeong-in, CEO of Compassion Korea, are posing for a commemorative photo during the 'KB Great Heritage Donation Trust Business Agreement Ceremony.' (Photo by KB Kookmin Bank)
View original image[Asia Economy Reporter Minwoo Lee] KB Kookmin Bank plans to actively promote the expansion of bank donation trusts.
On the 15th, KB Kookmin Bank announced that it signed a "Business Agreement for the Expansion of Donation Culture Using Bank Trusts" with the social welfare corporation Korea Compassion.
Through this, KB Kookmin Bank plans to ▲ provide transparent donation trust products to donors and welfare corporations ▲ manage trust assets and provide financial services. Additionally, both organizations will establish and strengthen a close cooperative system to play a public role in leading the expansion of a donation culture involving real estate, money, and other assets through donation trusts.
KB Kookmin Bank's "KB Great Legacy Donation Trust" is a trust service where donors entrust trust assets such as real estate and money to the bank, manage the trust assets themselves during their lifetime, and donate the assets to public interest corporations such as social welfare corporations, schools, and hospitals after their death. In particular, if the donated property is real estate, the donor can continue to reside in it or receive rental income, alleviating concerns about housing and living expenses even after the trust is established. Legal and tax expert consultations are also provided by the bank if needed.
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A KB Kookmin Bank official said, "Through this agreement, we will contribute to the expansion of our society's donation culture by shifting the donation paradigm to include both money and real estate," adding, "We will continue to provide financial solutions that contribute to the formation of a mature inheritance culture and practice 'finance that changes the world.'"
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