KB Kookmin Bank Signs Main Banking Agreement with Korea Local Government Officials Mutual Aid Association

Support for Fund Execution, Deposit and Withdrawal Operations, and Fund Management System Establishment for the Korea Local Government Officials Mutual Aid Association from August 1, 2024 to July 31, 2030

▲At the agreement ceremony held on the 12th at the headquarters of the Korea Local Administration Mutual Aid Association located in Yongsan-gu, Seoul, Kim Jang-hoe, Chairman of the Korea Local Administration Mutual Aid Association (left), and Lee Hwan-joo, President of KB Kookmin Bank, are posing for a commemorative photo. Photo by KB Kookmin Bank

KB Kookmin Bank announced on the 13th that it has signed a main banking agreement with the Korea Local Government Officials Mutual Aid Association.

The signing ceremony held the day before at the headquarters of the Korea Local Government Officials Mutual Aid Association was attended by Chairman Kim Jang-hoe, KB Kookmin Bank President Lee Hwan-joo, and officials from both organizations.

KB Kookmin Bank was selected as the main bank of the Korea Local Government Officials Mutual Aid Association after participating in a public bidding process since August last year and going through the proposal evaluation committee.

Through this agreement, KB Kookmin Bank will perform tasks including ▲fund execution and deposit/withdrawal support ▲establishment and maintenance of the fund management system ▲corporate card and other main banking related tasks from August 1, this year, to July 31, 2030.

Kim Jang-hoe, Chairman of the Korea Local Government Officials Mutual Aid Association, said, "Through this agreement, the Korea Local Government Officials Mutual Aid Association and KB Kookmin Bank will combine their strengths and experiences to provide more benefits to members," adding, "We look forward to growing together through close cooperation."

Lee Hwan-joo, President of KB Kookmin Bank, also stated, "As the main bank of the Korea Local Government Officials Mutual Aid Association, we will provide the best financial services that satisfy the 360,000 mutual aid association members," and added, "We will do our best to ensure a secure retirement for administrative public officials."

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