Ministry of Education and KB Financial Join Hands for Elementary After-School Care... 50 Billion KRW Support Over 5 Years

Lee Ju-ho, Deputy Prime Minister for Social Affairs and Minister of Education (left), and Yoon Jong-kyu, Chairman of KB Financial Group (right)

[Asia Economy Reporter Bu Aeri] KB Financial Group signed a memorandum of understanding (MOU) with the Ministry of Education on the 20th to support a total of 50 billion KRW over five years until 2027 for the development of Neulbom School and the elementary care system.

Since 2018, KB Financial has collaborated with the Ministry of Education to overcome the low birthrate phenomenon caused by career interruptions, high education costs, and childcare burdens.

As a result, they contributed to establishing an all-day care system by creating and expanding 2,265 national and public attached kindergartens and elementary care classrooms.

Based on the achievements of the care system operation over the past five years, KB Financial and the Ministry of Education plan to further develop Neulbom School and the elementary care system over the next five years by creating a child-friendly environment.

First, KB Financial will focus its efforts on expanding 'hub-type care institutions.' Hub-type care institutions provide integrated care and after-school programs to students in need of care within the hub area.

Lee Ju-ho, Deputy Prime Minister for Social Affairs and Minister of Education, stated, "Social-wide interest and support are necessary to provide quality care and educational opportunities," adding, "As the first partner with KB Financial Group, we will strive to expand educational opportunities for students and create an environment where parents can raise their children with peace of mind."

Yoon Jong-kyu, Chairman of KB Financial, said, "Going forward, KB Financial will continue to take the lead in nurturing future generations as a corporate citizen of our society and do its best to solve social problems."

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