Kyobo Life Insurance Receives Minister of Health and Welfare Award for Supporting Young Adults Preparing for Independence

Kyobo Life Insurance announced on December 10 that it received the Minister of Health and Welfare Award at the "2nd Self-Sufficiency Education Network Day" event, hosted by the Korea Self-Sufficiency Welfare Development Institute, held at the Korea Self-Sufficiency Training Center in Chungju on December 9.

The Korea Self-Sufficiency Welfare Development Institute is an organization under the Ministry of Health and Welfare that promotes self-sufficiency among basic livelihood security recipients and those in the lower-income bracket. It grants government awards to individuals or organizations that have contributed to helping neighbors in need become self-reliant.

Shin Chang-jae, CEO and Chairman of the Board at Kyobo Life Insurance. Kyobo Life Insurance

Children under protection are those cared for in child care facilities or group homes. When they turn 18 and their protection ends, they become "young adults preparing for independence." Since they must immediately stand on their own in society after leaving care, systematic preparation for independence is especially important.

Kyobo Life Insurance was highly recognized for operating a support program for independence that covers financial, emotional, and career aspects in a sustainable manner, rather than as a one-time sponsorship, taking into account the unique characteristics and developmental stages of these young adults.

Since 2021, Kyobo Life Insurance has been actively running a growth program for young adults preparing for independence. The program includes practical content necessary for independence, such as financial self-sufficiency skills, credit and debt management, hands-on experience with financial products, and emotional and psychological mentoring by former participants. Youth aged 17 or older who complete financial education receive 1 million won each in support funds for independent activities, helping them gain real-world financial experience.

Through these programs, Kyobo Life Insurance has supported the economic independence of over 600 young adults preparing for independence since 2021, and the total number of beneficiaries, including children under protection who received financial education, has reached 1,300.

In addition to supporting children under protection, Kyobo Life Insurance practices social value through a variety of social contribution activities, including the Kyobo Life Cup Youth Sports Competition, support for learning environments through the "Love Connection" program, improvement of educational infrastructure in Southeast Asia, and support for surgeries and rehabilitation for children with hearing impairments.

A Kyobo Life Insurance representative stated, "We are sincerely accompanying young adults on their journey to realize their dreams of independence," and added, "As a corporate citizen, we will continue to provide systematic support that offers practical help to neighbors in need."

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