KB Kookmin Bank Partners with SBC to Support SME Employees

On the 17th, at the 'Preferential Savings Deduction for Small and Medium Enterprise Employees' business agreement ceremony held at the Bankers Hall in Myeongdong, Jung-gu, Seoul, (from left) Kwak Sanup, Vice President of the Personal Customer Group at KB Kookmin Bank, Han Seongsuk, Minister of SMEs and Startups, Kang Taeyoung, President of NH Nonghyup Bank, and Kang Seokjin, Chairman of the Korea SMEs and Startups Agency, are posing for a commemorative photo. Photo by KB Kookmin Bank

KB Kookmin Bank signed a Memorandum of Understanding (MOU) with the Small and Medium Business Corporation on the 17th to support asset building and long-term employment for employees of small and medium enterprises.

The signing ceremony, held at the Korea Federation of Banks Hall in Jung-gu, Seoul, was attended by Han Seongsuk, Minister of SMEs and Startups, Kang Seokjin, Chairman of the Small and Medium Business Corporation, Kwak Sanup, Vice President of the Personal Customer Group at KB Kookmin Bank, and representatives from participating organizations.

Based on this MOU, KB Kookmin Bank has been selected as the designated bank for the ‘Preferential Savings for Employees of Small and Medium Enterprises’ program. The bank plans to launch the ‘KB Preferential Savings for SME Employees’ product next month.

The ‘KB Preferential Savings for SME Employees’ product has no restrictions on income or age. Under this program, participating SME employers contribute a company support fund equivalent to 20% of the employee’s monthly deposit (ranging from 100,000 to 500,000 KRW), thereby supporting asset building for SME employees. SMEs participating in the preferential savings deduction program can also benefit from corporate tax reductions on the company support fund.

A representative from KB Kookmin Bank stated, “We hope this product will help the approximately 20 million SME employees build stable assets and establish itself as a win-win financial model that helps companies create better working environments. We will continue to expand the social role of finance in supporting the growth of SMEs and their employees, who are the backbone of our economy.”

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