Support for Vulnerable Groups Over 20 Years Totals 120 Billion Won... Samsung Financial Announces Win-Win Finance Plan

Support for Long-Term Projects Such as Youth Suicide Prevention and Guide Dogs
Insurance Premium Discounts for Vulnerable Groups Also Provided

Samsung Group's financial affiliates have announced a win-win finance plan. They will invest a total of 120 billion KRW over 20 years in projects supporting vulnerable groups and will also launch insurance products to respond to cybercrime and other issues.

On the 26th, Samsung Financial Networks, which brings together Samsung Group's financial affiliates, announced this win-win finance plan. Samsung Financial Networks focused on establishing a long-term, sustainable plan rather than a short-term or one-time initiative. They decided to support a total of 120 billion KRW over 20 years for three corporate social responsibility (CSR) projects aimed at solving national challenges such as regional revitalization and youth suicide prevention, as well as building the economic and social foundations for vulnerable groups like the visually impaired.

First, 30 billion KRW will be invested over 20 years in the "Youth Life Respect Project" to prevent youth suicide. As part of the Ministry of Education's "Student Mental Health Promotion and Crisis Student Support Plan," this project aims to strengthen the mental health of middle and high school students and spread a culture of life respect within schools. Samsung Financial Networks will expand the ‘Life-Key’ program, conducted with university student mentors, to middle and high schools nationwide.

Samsung Life Insurance plans to support the "Local Youth Support Project," which encourages young nonprofit organizations working to solve community issues, with 30 billion KRW over 20 years. The "Local Youth Support Project" is a private cooperation initiative jointly implemented by Samsung Life Insurance, the Ministry of the Interior and Safety, and the Social Solidarity Bank, supporting young activists working to address regional problems such as the shortage of youth jobs in local areas. Additionally, education and consulting programs will be provided to empower youth to solve local issues.

Samsung Fire & Marine Insurance, celebrating its 30th anniversary this year, will invest 60 billion KRW over 20 years in its "Guide Dog Project." They will continue the guide dog breeding program through the guide dog school and also work to improve related social awareness.

They also launched win-win finance products to protect financially vulnerable groups. Samsung Life Insurance introduced the "Life Finance Loan Protection Insurance" (hereafter Loan Protection Insurance). It is a pure protection-type term insurance divided into a collateral loan plan that pays insurance benefits upon death according to loan characteristics, and a credit loan plan that covers death and diagnosis of critical illnesses.

The collateral loan plan allows coverage up to the collateral loan amount, with a maximum of 200 million KRW. It is a 5-year renewable policy that can provide coverage for up to 40 years. The credit loan plan offers coverage up to 30 million KRW for 1 to 5 years. It covers diagnosis or death from three major diseases (cancer excluding minor cancers, cerebral hemorrhage, acute myocardial infarction).

Discount benefits on premiums are also a feature. Users of the "My Home Preparation Stepping Stone Loan" and families with multiple children receive a 20% discount on premiums. This product can be purchased on the Samsung Life Direct website.

Samsung Fire & Marine Insurance introduced a discount for digitally vulnerable groups in its "Cyber Accident Compensation Insurance." This product compensates for damages from cyber financial crimes such as phishing and hacking, as well as fraud from internet direct transactions and online shopping malls. As part of a win-win approach, Samsung Fire & Marine Insurance offers a 30% premium discount to policyholders aged 60 and above who belong to digitally vulnerable groups.

A representative from Samsung Financial Networks said, "We will strive to contribute to the national society by implementing long-term win-win plans that can solve national challenges and support the economic and social foundations of vulnerable groups." They added, "We will continue to expand win-win financial products that protect socially vulnerable groups."

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